Foundations and Trends® in Entrepreneurship > Vol 16 > Issue 3

Entrepreneurship as Trust

Tomasz Mickiewicz, Aston University, Birmingham, UK, t.mickiewicz@aston.ac.uk Anna Rebmann, King’s College London, UK, anna.rebmann@kcl.ac.uk
 
Suggested Citation
Tomasz Mickiewicz and Anna Rebmann (2020), "Entrepreneurship as Trust", Foundations and Trends® in Entrepreneurship: Vol. 16: No. 3, pp 244-309. http://dx.doi.org/10.1561/0300000088

Publication Date: 04 Feb 2020
© 2020 Tomasz Mickiewicz and Anna Rebmann
 
Subjects
Business formation,  Family-owned firms,  Nascent and start-up entrepreneurs,  New business financing,  New venture creation process,  Information Systems and Individuals: Trust in IS
 
Keywords
Trustvaluesuncertaintyentrepreneurshipeffectuationfamily businessnew technologyblockchain
 

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In this article:
1. Entrepreneurship Emerges Under the Conditions of Uncertainty, to which Trust is a Response
2. The Notion of Trust and the Link with Values
3. Particular Trust
4. Extended Trust
5. Macro-Micro and Micro-Macro Linkages
6. The Role of New Technology in Enhancing(or Replacing) Trust
7. Conclusions
References

Abstract

Trust is a critical component of our relationship with others. It forms a basis of not only social relations but also economic ones. Trust is necessarily linked to entrepreneurship because it is useful in conditions of uncertainty. An entrepreneur needs to gain trust of others who cannot obtain full knowledge on what is being introduced to the market as well trust others such as partners, employees and suppliers to deliver on promises. This study aims to examine the role of trust in entrepreneurship. After reviewing the conceptualisation of trust, we argue that trust should be seen in the context of a wider-set of entrepreneurship-supporting values. We then explore different types of trust and their role in entrepreneurship, moving from particular trust to extended trust, ending with a discussion on how new technology is enabling entrepreneurs to create a new form of distributed trust between strangers.

DOI:10.1561/0300000088
ISBN: 978-1-68083-642-4
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ISBN: 978-1-68083-643-1
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Table of contents:
1. Entrepreneurship Emerges Under the Conditions of Uncertainty, to which Trust is a Response
2. The Notion of Trust and the Link with Values
3. Particular Trust
4. Extended Trust
5. Macro-Micro and Micro-Macro Linkages
6. The Role of New Technology in Enhancing(or Replacing) Trust
7. Conclusions
References

Entrepreneurship as Trust

Trust is a critical component of our relationship with others. It forms a basis of not only social relations but also economic ones. Trust is necessarily linked to entrepreneurship because it is useful in conditions of uncertainty. An entrepreneur needs to gain trust of others who cannot obtain full knowledge on what is being introduced to the market as well trust others such as partners, employees, and suppliers to deliver on promises. Entrepreneurship as Trust aims to examine the role of trust in entrepreneurship. After reviewing the conceptualization of trust, the authors argue that trust should be seen in the context of a wider-set of entrepreneurship-supporting values. They explore different types of trust and their role in entrepreneurship, moving from particular trust to extended trust, ending with a discussion on how new technology is enabling entrepreneurs to create a new form of distributed trust between strangers.

 
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