Trust as a basis for ensuring sustainable interaction of market agents

Ufa University of Science and Technology, 450076, Z. Validi str., 32, Ufa, Russia

^* Corresponding author: bicprof@mail.ru

Abstract

The article undertakes an interdisciplinary theoretical analysis of the content and conditions of trust, which allows the cost-effective use of other resources. Ethical principles and regulators of the formation of trust, as well as an economic approach to assessing the measure of trust between agents of market relations, are substantiated. The category of trust has an economic content, since its absence in the relations of market agents leads to increased values of losses, and hence to a decrease in the effectiveness of the marketing management system. Agents of a market economy, depending on the current situation, need to be able to determine the measure of trust that they can provide to each other in the implementation of transactions. A toolkit for a quantitative assessment of a measure of confidence is proposed, the basis of which is the observance of ethical standards. However, with any measure of confidence, there will be losses due to the persistence of cases of immoral transactions. It is necessary to find its optimal measure according to the criterion of minimum losses from transactions. It is concluded that the current level of trust will lead to its further approval as a norm. Each situation has its own optimal measure of confidence. The article reveals the role of cultural and ethical regulators in the management of sustainable development. A business organization is considered as a target community, which is directly related to the categories of •values• and •value orientations•. In this context, culture and corporate ethics are presented to manage the sustainable behavior and economic interaction of people both in the internal environment of the organization and in the external marketing environment. The authors note the need to consider the fact that strict regulation of the methods of employees’ actions can lead to the destruction of a certain professional and ethical position. According to the results of the study, it was proved that in the process of managing an organization, it is necessary to take into account the characteristics of culture in organizational relations, since they make it possible to judge the effectiveness and efficiency of decisions made, taking into account socioeconomic and moral consequences.