{"id":169701,"date":"2025-05-16T15:51:33","date_gmt":"2025-05-16T21:51:33","guid":{"rendered":"https:\/\/tecscience.tec.mx\/en\/?p=169701"},"modified":"2025-05-19T17:21:51","modified_gmt":"2025-05-19T23:21:51","slug":"the-science-of-trust-business-families","status":"publish","type":"post","link":"https:\/\/tecscience.tec.mx\/en\/business-innovation\/the-science-of-trust-business-families\/","title":{"rendered":"The Science of Trust and the Keys to Measuring Its Impact on Business Families"},"content":{"rendered":"\n<p>\u201cAre we in good hands?\u201d That\u2019s the pressing question <strong>family businesses<\/strong> often face\u2014especially during succession processes, when leadership (whether the CEO or the chairperson) or ownership is handed down from one generation to the next. It\u2019s in these pivotal moments that <strong>trust<\/strong> takes center stage, reflects <a href=\"https:\/\/ifem.tec.mx\/en\/semblanza\/justin-b-craig\" target=\"_blank\" rel=\"noreferrer noopener\">Justin Craig<\/a>, Distinguished Professor of Family Business at the Tec de Monterrey Business School.<\/p>\n\n\n\n<p>\u201c<strong>If you don\u2019t have trust, you don\u2019t have a bloody thing<\/strong>. Without trust, families are not able to optimise the chance of transitioning across generations,\u201d says the professor, who is part of Tec\u2019s <a href=\"\/en\/tag\/faculty-of-excellence\/\" target=\"_blank\" rel=\"noreferrer noopener\">Faculty of Excellence<\/a> initiative.<\/p>\n\n\n\n<p>As a researcher, he has dedicated his work to studying <a href=\"\/en\/business-innovation\/the-future-of-family-businesses\/\" target=\"_blank\" rel=\"noreferrer noopener\">family enterprises<\/a>. He has authored more than 50 academic papers and written several books on the subject. Craig has also taught at the Kellogg School of Management and Bond University in Australia.<\/p>\n\n\n\n<p>At the <strong>2025 Global Family Business Summit<\/strong>\u2014hosted by the <a href=\"https:\/\/ifem.tec.mx\/en\" target=\"_blank\" rel=\"noreferrer noopener\">Institute for Business Families in Mexico and Latin America<\/a> (IFEM) at Tec and <a href=\"https:\/\/www.spgcfb.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">The STEP Project Global Consortium<\/a>, held at <a href=\"\/en\/tag\/egade\/\" target=\"_blank\" rel=\"noreferrer noopener\">EGADE Business School<\/a>\u2014Craig delivered a keynote titled <em>Without Trust, There is no Transformation nor Revolution<\/em>, where he broke down <strong>the concept of trust through a scientific lens<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><picture>\r\n                <source srcset=\"https:\/\/tecscience.tec.mx\/en\/wp-content\/uploads\/sites\/9\/2025\/05\/trust-in-business-families2.webp\" type=\"image\/webp\">\r\n                <img fetchpriority=\"high\" decoding=\"async\" width=\"750\" height=\"500\" src=\"https:\/\/tecscience.tec.mx\/en\/wp-content\/uploads\/sites\/9\/2025\/05\/trust-in-business-families2.jpg\" alt=\"\" class=\"wp-image-169723\" srcset=\"https:\/\/tecscience.tec.mx\/en\/wp-content\/uploads\/sites\/9\/2025\/05\/trust-in-business-families2.jpg 750w, https:\/\/tecscience.tec.mx\/en\/wp-content\/uploads\/sites\/9\/2025\/05\/trust-in-business-families2-300x200.jpg 300w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/>\r\n            <\/picture><figcaption class=\"wp-element-caption\">Justin Craig delivered a keynote lecture during the 2025 Global Family Business Summit, held at EGADE Business School. (Photo: Everth Ba\u00f1uelos \/ TecScience)<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Four Dimensions for Measuring Trust<\/h2>\n\n\n\n<p>Craig argues <strong>that trust can\u2014and should\u2014be understood through a scientific lens<\/strong>, especially in the context of family businesses. This concept, he says, <strong>can be explored through business science and measured with academic rigor<\/strong>.<\/p>\n\n\n\n<p>\u201cAs scientists, we need to say, well<strong>: What is trust, and why does it matter?<\/strong>\u201d he says. \u201cThe richness of it, the importance of it, the irrelevance of it, and ultimately the science of it.\u201d<\/p>\n\n\n\n<p>Based on the analysis of 128 research studies on trust, scholars have found that trust isn\u2019t just a subjective feeling. It can, in fact, be <strong>measured through four key dimensions: integrity, ability, benevolence, and consistency<\/strong>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Integrity<\/strong>: This means a person is honest, guided by values and principles, follows through on promises, and respects ethical standards. For example, a CEO who doesn\u2019t lie about the company\u2019s finances.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Ability<\/strong>: Refers to the technical, professional, and interpersonal skills needed to perform a role. These competencies help leaders make effective decisions based on their expertise.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Benevolence<\/strong>: This is the perception that someone acts for the greater good, with positive intentions toward others\u2014being cooperative and altruistic. For instance, someone willing to help and bring people together to pursue a shared goal.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Consistency<\/strong>: It\u2019s about behavioral reliability\u2014when someone reacts predictably and responds similarly in comparable situations. This creates a sense of safety and reduces uncertainty or distrust.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><picture>\r\n                <source srcset=\"https:\/\/tecscience.tec.mx\/en\/wp-content\/uploads\/sites\/9\/2025\/05\/trust-in-business-families3.webp\" type=\"image\/webp\">\r\n                <img decoding=\"async\" width=\"750\" height=\"500\" src=\"https:\/\/tecscience.tec.mx\/en\/wp-content\/uploads\/sites\/9\/2025\/05\/trust-in-business-families3.jpg\" alt=\"\" class=\"wp-image-169724\" srcset=\"https:\/\/tecscience.tec.mx\/en\/wp-content\/uploads\/sites\/9\/2025\/05\/trust-in-business-families3.jpg 750w, https:\/\/tecscience.tec.mx\/en\/wp-content\/uploads\/sites\/9\/2025\/05\/trust-in-business-families3-300x200.jpg 300w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/>\r\n            <\/picture><figcaption class=\"wp-element-caption\">The event brought together scholars and leaders from family-owned enterprises. (Photo: Everth Ba\u00f1uelos \/ TecScience)<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">A Simple Tool for Evaluating Relationships<\/h2>\n\n\n\n<p>The researcher uses the four dimensions to form the acronym <strong>IABC<\/strong>. He sees it as an educational tool that is simple, memorable, and practical for use in both personal and organizational relationships.<\/p>\n\n\n\n<p>Using this framework, <strong>people can pinpoint why they may not trust someone<\/strong>, for example, a person might be highly skilled but selfish, or a great team player who reacts unpredictably when faced with challenges.<\/p>\n\n\n\n<p>In that sense, the dimensions can serve as a <strong>diagnostic tool to assess relationships within a business family<\/strong>\u2014between siblings, cousins, or even among executives and owners. Craig presents this strategy as an easy way to identify exactly where trust begins to break down.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Showing Vulnerability to Build Trust<\/h2>\n\n\n\n<p>One powerful way to build trust within business families, Craig explains, is by <strong>showing vulnerability<\/strong>. A key foundation of trustworthiness lies in people\u2019s ability to <strong>admit they don\u2019t have all the answers<\/strong>. This isn\u2019t a sign of weakness\u2014<strong>it\u2019s a deeply human way to foster genuine and lasting relationships<\/strong>.<\/p>\n\n\n\n<p><strong>Asking for help<\/strong> is one of the simplest ways to express vulnerability. When someone reaches out for support, they\u2019re signaling a willingness to engage in open dialogue, which can break the ice and lay the groundwork for trust. Still, Craig notes, it\u2019s not always about literally saying \u201chelp me\u201d\u2014vulnerability can also come through empathy, using phrases like \u201cCan I step into your shoes for a moment?\u201d or \u201cHelp me understand where you\u2019re coming from.\u201d<\/p>\n\n\n\n<p>In a business context\u2014where emotional ties and financial interests are often intertwined\u2014families can benefit from showing vulnerability to resolve conflicts, bridge generational gaps, defuse tension, and prevent breakdowns in relationships. It\u2019s not about giving up control, but rather about creating the conditions for mutual trust to grow.<\/p>\n\n\n\n<p>\u201cYou might feel nervous about trusting others with your information and opening your home and business to newcomers. It\u2019s understandable,\u201d Craig says. \u201cIf we want to build trust, we need to demonstrate vulnerability and admit that we need help and walk the talk.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Easing Trust Tensions with Action Plans<\/h2>\n\n\n\n<p>Trust tensions can arise among family members, business managers, and company owners\u2014making it essential to have clear <strong>action plans<\/strong> that support generational continuity, decision-making clarity, and the overall health of the family enterprise system.<\/p>\n\n\n\n<p>\u201cWhat sort of plan do we need? A strategic plan, a family talent development plan, an asset, wealth and estate plan, and a governance plan,\u201d Craig explains.<\/p>\n\n\n\n<p>The <strong>business\u2019s strategic plan<\/strong> aims to align the operational team with the owners\u2019 expectations, all while keeping a long-term vision in mind and addressing key questions like, \u201cAre we in good hands?\u201d Meanwhile, the <strong>wealth, asset, and succession plan<\/strong> focuses on the effective management, distribution, and legacy of financial resources.<\/p>\n\n\n\n<p>The third plan\u2014<strong>family development<\/strong>\u2014prepares the next generation with essential skills in leadership, finance, and governance. And finally, a <strong>governance plan<\/strong> outlines the structures, rules, and processes that guide decision-making. Through family councils, management boards, and ownership committees, this plan promotes transparency, institutional strength, and collective decision-making to ensure harmony across all roles.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Building Trust Between Academia and Business Families<\/h2>\n\n\n\n<p>In order for research on family businesses to have real impact, it\u2019s essential to foster genuine, <strong>trust-based<\/strong> <strong>relationships between academics and business families<\/strong>, says Craig.<\/p>\n\n\n\n<p>Researchers must <strong>value and learn from the families they study<\/strong>\u2014seeing them as partners and \u201cteachers\u201d who help enrich academic work. On the flip side, approaching families solely to extract data can erode trust and damage the reputation of the academic community.<\/p>\n\n\n\n<p>Craig emphasizes the unique value for professors in building long-term relationships with business families\u2014following them over time and seeing them as living case studies, appreciating how they evolve from one generation to the next.<\/p>\n\n\n\n<p>\u201cIf you build trust, you will follow these living case studies as those five-year-olds evolve into 25-year-olds on your watch,\u201d he says. \u201cThey provide me with insights I don\u2019t get by academic papers.\u201d<\/p>\n\n\n\n<p>As researchers, it\u2019s critical to live by the IABC model\u2014maintaining integrity, demonstrating ability, showing altruism, and being consistent\u2014just like any other member of the family business ecosystem.<\/p>\n\n\n\n<p>\u201cSo the more the academic can build a database of families who are all the same but different, the better they are to serve or to provide assistance to the families they build their relationship with,\u201d Craig concludes.<\/p>\n\n\n\n<p><strong><em>Were you interested in this story? Would you like to publish it? Contact our content editor to learn more:&nbsp;<a href=\"mailto:marianaleonm@tec.mx\" target=\"_blank\" rel=\"noreferrer noopener\">marianaleonm@tec.mx<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the context of family businesses, trust isn\u2019t just a subjective concept\u2014it can be measured across four dimensions.<\/p>\n","protected":false},"author":47,"featured_media":169721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","footnotes":""},"categories":[92],"tags":[154,408],"class_list":["post-169701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-innovation","tag-egade","tag-faculty-of-excellence"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.0 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Science of Trust in 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