RESPONSIBLE ENTREPRENEURSHIP VISION DEVELOPMENT AND ETHICS

368 RESPONSIBLE ENTREPRENEURSHIP
contacts or successful outcome of past cooperation. On the other hand, the level of trust
between businesses is closely linked with the exchange of information (intensity information
exchange, quality of information exchanged, etc.) (Ming & Songzheng, 2008).
The literature offers different concepts of trust in relation to the conditions and objectives
(Dyer & Chu, 2003; Mun et al., 2009; Schmidt et al., 2007). In this work the trust is defined
as the degree to which each of the participants in the business networks tends to participate
in certain ventures with specific counterparties, taking into account the associated risks and
actions (Ruohomaa & Kutvonen, 2005; Bharadwaj & Al-Shamri, 2009). Importance of assessing
the level of trust in partners is determined by a number of benefits arising from based on
trust relationships in business networks (Zaheer et al., 1998; Dyer & Chu, 2003; Johnston et
al., 2004; Laaksonen et al., 2009; Panayides & Venus Lun, 2009). It’s found out that the
increasing of trust in partners is closely linked with increasing intensity of exchange of information
on implementation of the relationship between the partners. Msanjila and Afsarmanesh
(2008) showed that trust is a complex concept that is impossible to assess by one criterion
or be interpreted as a simple indicator. Therefore, the assessment of the level of trust between
partners should start with defining the perspective of the evaluation trust and then continue
with the identification of the factors of trust. Finally, it should be developed methods to categorize
the level of trust in terms of the identified factors. In the literature are found examples
of conceptual models for identification of factors associated with trust between partners
and their relative importance. Through such models and proved studies it is shown that the
intensity of exchanged information between partners is one of the most significant factors
related to trust (Kwon & Suh, 2004; Kwon & Suh, 2005; Tian et al., 2008). However, very
few publications have been devoted to the relationship between the level of trust and information
sharing. One such example is the model developed by Ming and Songzheng (2008),
which serves to analyze the impact of the intensity of the exchanges and the quality of information
on the dynamics of trust and intent for cooperation in business networks. Nevertheless,
the model does not address in detail the elements of the exchange of information that
have an impact on the trust and the mechanisms of influence of each item.
Finally, it should be noted that the relationship between trust level and intensity of the
exchange of information remains insufficiently studied and developed models do not provide
sufficiently detailed picture of this relationship. There is no complete detailed classification
of the elements of the exchange of information, which affect trust level. The models
provide only a general idea of the relationship between those elements, but do not provide
methods to quantify these elements.
Mechanism for building trust through cooperation
Some suppliers and customers have unique resources and capabilities that are prerequisite
for closer ties and greater investment (Dyer & Singh, 1998; Fawcett, Magnan, & McCarter,
2008; Lai, 2009). The level of trust with stakeholders in business networks depend on competitive
strategies and opportunities for replication trust to build unique capabilities (Lawrence
& Lorsch, 1967). Performed in this work literary study shows that the majority of businesses
have yet to develop organizational programs to define the intensity of interactions and to
develop appropriate interactions.