Trust as a factor in the effectiveness of business partnership

Abstract

The article reveals the role of trust in the development and improvement of the effectiveness of partner business relations. In the context of globalization of markets, trust becomes a noticeable factor in the formation of long-term mutually beneficial relations, allowing each of the partners to achieve the strategic goals more effectively. Contributing to a significant reduction in transaction costs, trust is an additional source of sustainable competitive advantage of the business, increasing its efficiency.