| Abstract [eng] |
Research relevance. Given globalization and interdependent markets, trust plays an increasingly pivotal role in international business transactions. Attracting international partnerships requires trust to facilitate smooth and productive international collaborations. With so much happening globally today and digital disruption impacting every aspect of business life, trust plays an increasingly significant role. As global economies become more interdependent, understanding and building trust within international business partnerships are integral for long-term sustainable growth and competitive edge (Madhok 2017). Thesis analysis deep layers of trust, exploring all factors which contributes to its formation and continuity. Evaluating challenges which comes from communication barriers as well as major global market changes. There is a gap of research about the how being ethical and focusing on sustainability can lead the influence on trust (Gao & Duysters, 2019). Focusing on this gap, possible communication features analysis must be done to understand the impact on fostering trust within international business. By studying the role of trust in international business, this thesis shows knowledge of communication features for fostering trust. By applying them there is a possible lead to have a stronger and more effective international business relationships. The need for companies to foster trust in international business is crucial. Trust makes people feel safer, helps to have more open communication and makes business more efficient which can lead to a more successful teamwork. It also lessens chances of miscommunication within employees, so less chance for mistakes. Presenting company as trustworthy can display better reputation of the company and new business partnerships or deals might open up (Zhao, 2014). Trust also impacts and highlights what company’s customers and main stakeholders want when it comes to company’s cultural knowledge and ethical practices which in long term can strengthening company’s viability and competitive advantage. By focusing on trust, companies not only foster their current relationships but creates new paths for connections or ways to new markets. Research object – trust in international business. Research aim - to reveal the communication features which are important in fostering trust. Research objectives: 1. To define trust problematic in context of international business. 2. To identify the features of communication in fostering trust in international business. 3. To justify the methodology of empirical research on trust and communication features in international business. 4. To revise the features of communication based on empirical research findings and develop recommendations for researchers and international companies. Research results. Done research showcases the importance of communication features in fostering trust in international business. It presents the impact of cultural intelligence, technological advancements and language. After done interviews, one more key communication feature emerges – open communication. Open communication mainly impacts relational trust to build strong and long term connection between partners. Cognitive trust is mainly focused by having good knowledge of cultural intelligence to avoid any possible cultural challenges and use of newest technology advancements, such as artificial intelligence and communication platforms for video calls and instant messaging. Conclusions and recommendations present steps to focus further research and presents focus areas for international companies to have more efficient relationships with their partners. |
