Why Trust Is the Gold Standard in Developing Countries. Tarun Khanna, April 18, 2019, Audio, “Entrepreneurs in the developing world face a distinct disadvantage over their Western counterparts – a widespread lack of trust. Western nations have spent centuries putting in place customs, institutions and regulations to support new companies. But those structures don’t necessarily exist in places like India, South America, Africa or China. Harvard Business School professor Tarun Khanna believes smart entrepreneurs who want to succeed in places with “rampant mistrust” must build their own microcosm of trust with employees, partners and customers. Khanna, who is also director of the Lakshmi Mittal and Family South Asia Institute at Harvard, details this approach in his new book, Trust: Creating the Foundation for Entrepreneurship in Developing Countries. He spoke on the Knowledge@Wharton radio show on SiriusXM about why a conventional strategy doesn’t work wherever societal mistrust is the norm.Link