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Introduction It has been highlighted lately by numerous authors that Inter-Organisational Relationships (IORs) between business partners may constitute sound economical solutions to the question of producing a product/service in-house as opposed to outsourcing to a third party. However, some authors recognise that not only do such arrangements make economical and technological sense but the parties may also increasingly benefit from reduced transaction costs arising from the trust that develops between the two firms, resulting in less need for e.g. formal enactment of negotiations and contracts (Ring and van de Ven 1994). In this essay the importance of trust in such relationships will be discussed and various questions and areas of interested related to this topic will be examined. The Concept of Trust in Business Relationships Zucker (1986) defines trust as "Confidence or predictability in one's actions". Another definition is offered by Friedman (1991); "Confidence in the other's goodwill". The Nature of the Relationship According to...

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