The Speed of Trust: The One Thing that Changes Everything
Stephen M.R. Covey with Rebecca R. Merrill
The Speed of Trust: The One Thing that Changes Everything is a book written by Stephen M.R. Covey with Rebecca R. Merrill. The book delves into the concept that trust is a key leadership competency in the modern world, and its presence or absence can profoundly impact an organization's success.
Here's a quick summary:
The Economics of Trust: Trust isn't just a soft, emotional virtue; it has tangible, economic value. Where trust is high, the 'tax' or cost of doing business is low, allowing for greater speed and lower costs.
The First Wave – Self Trust: It all starts with self-trust, the basis of which is one's personal credibility. Covey introduces the four cores of credibility – Integrity, Intent, Capabilities, and Results.
The Second Wave – Relationship Trust: Trust in relationships is built on consistent behavior. Covey shares the thirteen behaviors that high-trust leaders exhibit, such as talking straight, demonstrating respect, creating transparency, and more.
The Third Wave – Organizational Trust: Trust must exist within the internal culture of an organization. It is reflected in the structure, systems, and symbols an organization embodies.
The Fourth Wave – Market Trust: This concerns your reputation in the marketplace. When customers trust a brand or company, they are more likely to do business with it.
The Fifth Wave – Societal Trust: This involves contributing to the betterment of society. Organizations that exhibit good citizenship and make positive societal impacts earn a higher degree of trust from the community.
The Power of Trust: Trust isn't just a by-product of effective leadership; it is a measurable competency that has profound impacts on results and the bottom line.
Restoring Trust: One of the most valuable parts of the book is Covey's discussion on how to restore trust when it has been lost or damaged. It isn't easy, but it is possible with genuine intent and effort.
In summary, "The Speed of Trust" emphasizes that trust is not merely a nice-to-have, but a critical component for personal and organizational success in today's interdependent world. Building, maintaining, and restoring trust should be primary leadership competencies for anyone looking to succeed in the 21st century.