Trust is defined as the belief in the integrity, character, and ability of a leader. Followers who trust a leader are willing to be vulnerable to the leader’s actions because they are confident that their rights and interests will not be abused. Research has identified five dimensions that make up the concept of trust.
- Integrity – honesty and truthfulness
- Competence – technical and interper4sonal knowledge and skills.
- Loyalty – willingness to protect a person, physically and emotionally
- Openness – willingness to share ideas and information freely
Trust is an arrangement in which property is legally transferred to a trustee who manages it for the benefit of named beneficiaries for their security and to insure competent management of estate property.
A legal entity set up to hold and manage assets for a designated beneficiary. Funds in a trust are typically invested in stocks, bonds, real estate, and other investments.