Trust Creating the Foundation for Entrepreneurship in Developing Countries

In these days, when the buzzwords around business are new technologies, disruption, AI to have advantageous information, substitution of the incumbents, et cetera, it is pleasing to have someone of Professor Tarun Khanna s stature writing about trust. It made me reflect on my own career with partners based on hiring exceptional people, developing partnerships that worked, avoiding wasteful litigation, and basically moving forward with minimum legal hassle. Trust was probably more important in our progress than the businesses we chose to invest in. It is good that Professor Khanna has called my attention and hopefully that of others to this so important aspect of doing business.
Jorge Paulo Lemann, Co-founder, 3GCapital, Brazil
 
Trust is fundamental to entrepreneurship. Those who generate and, more importantly, retain trust prosper; those who do not eventually become a flash in the pan. Young, first-time entrepreneurs will immensely benefit from Tarun Khanna s anecdotal book on how to earn trust and respect for one s pursuit.
Ratan Tata, Chairman, Tata Trusts, former Chairman, Tata Group, India
 
Khanna s Trust is a refreshing and brilliant view of how individuals and entrepreneurs can build lasting relationships, create more positive conditions in society, and reach past the difficulties of deeply entrenched systems of mistrust. A wonderful companion to Billions of Entrepreneurs.
Andrónico Luksic Craig, Chairman, Luksic Group, Chile
 
Trust deals with entrepreneurs across the developing world, where creativity is sorely needed. Khanna weaves together stories of conventional and social enterprises in the private sector and in government. He recognizes the enormous promise of technology but to be used wisely. A highly readable and must-read narrative!
Nandan Nilekani, cofounder of Infosys Technologies and Founding Chairman, Unique Identification Authority of India (Aadhaar)
 
As the leader of a business predicated on family values, I understand the value of trust. Khanna shows that, even outside the familiar setting of a family, entrepreneurs prioritizing trust not only advance their own ventures but contribute dramatically to economic and social development.
Suh Kyung Bae, Chairman, Amore Pacific, South Korea
 
I cannot agree more with Tarun Khanna on the vital element of trust on scaling up an idea originally invented in the developing world trust with regard to the competence of the product and the character and the care of the founders.
Po Chung, Co-founder, DHL International
 
Trust is central to any enterprise, and this is especially true across countries in Latin America and the developing world, as Khanna suggests it must be. We work hard to build and maintain it with our customers, employees, bankers, suppliers, investors, and public authorities. Trust is by far more important than simply counting on the rule of law or our institutions. It is the vital underpinning of our growth and prosperity through thick and thin.
Woods Staton, Chairman, Arcos Dorado, Mexico
 
Khanna studies the core of the matter for entrepreneurship in emerging markets. Entrepreneurs in such markets face a friction-full environment. As a friend of mine says, We live in a market economy with soviet scaffolding and because of this everything needs to be negotiated nothing happens by itself. And why does this happen? The answer is lack of trust!
Álvaro Rodríguez Arregui, cofounder and Managing Partner, IGNIA, Mexico
 
"Challenges abound across the developing world, and it s up to us to address them, and not wait for the government, or for charity.  My experiences as an entrepreneur across Africa make me appreciate Khanna s focus on weaving a web of TRUST to get everyone focused, very practically, on how ventures get built, and how they scale across large populations.  I hope young people everywhere are inspired by this book s  can-do  spirit.
Mo Ibrahim, Founder, Celtel International, Founder and Chair of the Mo Ibrahim Foundation, Africa

Khanna s book is right on target  in spotlighting  the  supreme  importance  of
trust, not just in private entrepreneurship, but in all connections  between  en- trepreneurs  and government,  civil society, and people.  As Khanna s examples compellingly demonstrate, building and  maintaining  healthy  levels of trust is crucial for human  progress.
Muhammad Ali Pate, former  Minister  of State for Health, Nigeria

Khanna skillfully and convincingly argues that trust is a core part of the enabling environment  that  civil society and the state  must  foster to enable  enterprising individuals to help themselves.  I would recommend it to all interested in private sector development.
Emmanuel Jimenez, Executive  Director, International Initiative for Impact Evaluation(3ie),  India

Professor Tarun Khanna writes most engagingly on entrepreneurs and the creation of enterprises in developing countries. Applying the principles drawn out by Professor Khanna, though challenging, will lead not only to greater success for entrepreneurs but also help to build the trust ecosystems in their societies.
Sir Fazle Hasan Abed, Founder and Chairperson, BRAC, Bangladesh