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Trust, Burroughs Wellcome & Co. and the foundation of a modern pharmaceutical industry in Britain, 1880-1914

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  • Roy Church

Abstract

The literature relating to networks and organizational culture has acknowledged trust to be a valuable intangible asset. This article reviews the theoretical literature and the limited empirical research on trust in relation to business organizations and activity. Within this framework, the early history of Burroughs Wellcome & Co. reveals the importance of trust in building a cohesive organization and in establishing a reputation with the medical profession and with the trade. The study shows the construction of trust to have been an essential dimension in the company's growth to become the leading pharmaceutical manufacturer in Britain by 1914.

Suggested Citation

  • Roy Church, 2006. "Trust, Burroughs Wellcome & Co. and the foundation of a modern pharmaceutical industry in Britain, 1880-1914," Business History, Taylor & Francis Journals, vol. 48(3), pages 376-398.
    • Handle: RePEc:taf:bushst:v:48:y:2006:i:3:p:376-398
    DOI: 10.1080/00076790600791805
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    References listed on IDEAS

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    1. Casson, Mark, 1991. "The Economics of Business Culture: Game Theory, Transaction Costs, and Economic Performance," OUP Catalogue, Oxford University Press, number 9780198283751.
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