Trust in Online Retail Relationships in Fashion - Literature review Example

Researchers claim that the importance of trust increases during uncertain and critical situations (Peterson, 1998). Trust is regarded as the chief strategic asset of a firm when it aims to bring about operational changes subjected to market uncertainty (Park and Srinivasan, 1999). It is perceived to be the central constituent in professional relationships.

The value and meaning of trust have changed over time, but its intrinsic outcomes remain beneficial. Organizational scholars provide great importance to the issues of trust. The issues are legitimated by the changes in economic exchange relations, organizational forms, and social societal structure (Bijlsma and Koopman, 2003). Tom Tyler (1996) stated that the trust factor is imperative for organizational success. Trust existing within the workplaces of an organization helps to create voluntary corporation among the workers. The performance and productivity level of an organization considerably depend on the extent of cooperation among the workers. Gradual changes in societies and organizations have enhanced the importance of matters relating to trust (Parker, 2012). Trust is considered a solution to specific risk-related problems arising between different individuals. Trust within organizations is mandatory for motivating professional associations and driving rapid business improvement. Experts think that strategic cooperation and collaboration between different firms become easier with the presence of trust between them (Hahn and Kim, 2009). The attitudes of the employees within workplaces are also determined by the same. Employee satisfaction with jobs and their commitment to work tasks are largely influenced by their trust in the firm. The brand value of a company in the market is largely dependent on the stakeholder's trust in the same. Researchers point out that satisfaction derived by the consumers from the consumption of goods or services of a company is directly proportional to their trust towards the same (Winch and Joyce, 2006).

The above table shows that characteristics of trust can be classified in terms of Referents of Trust, Components of Trust, and Dimensions of Trust. The true meaning of trust is explained in terms of its characteristics. According to the Referents of the Trust concept, trust is social, versatile, attitudinal, and functional in nature. Trust is attitudinal because experts consider it to be a state of human behavior (Davey and Schneider, 2009). Also, trust is equated in terms of actions such as risk-taking and cooperation. Trust contains features of cognitive, behavioral, and affective sentiments. Trust is social in nature as it lies embedded within any complex social system (Ha, 2004). The trustor’s values are judged in terms of the effectiveness of the trust it delivers. Trust is also versatile because it exists in variable situations where the trustor and the target interact. It is functional because trust represents the attitude of the trustor. It signifies the attempt made by the trusted provider for controlling the occurrence of an event where trust might cease to exist (Werther and Chandler, 2005).

According to the Components of the Trust aspect; trust is hypothetical, motivational, and consequential in nature. Trust is hypothetical because its scope depends on the cognitive estimation of authority in a given situation and provides control through assumption. Trust is consequential in nature as it is measured to be an emotional appraisal of influence. The trustor can only assume the influence of trust at a particular point in time and often exhibit individual feelings in the conclusion of such influence (Smith, 2010). Trust is motivational because it reflects the behavioral intentions of the trustor towards the influence at a particular point in time. In short, the trustor always remains motivated in order to enhance the influence of trust. As per the Dimension aspect; trust is symmetrical, conditional, and incremental in nature. Trust is symmetrical because its influence is judged in terms of favorable and unfavorable outcomes.