The+Speed+of+Trust




 * Book citation information **
 * Reviewed by**: Colby Jeffers


 * Book Author**: Stephen M. R. Covey


 * Book Title**: The Speed of Trust: The One Thing That Changes //Everything//


 * Publisher and Year Published**: Free Press (2006)


 * ISBN Number:** 13: 978-0-7432-9730-1


 * Book summary contents **
 * __Key Terms & Definitions__**
 * **Trust –** Trust means //confidence//. The opposite of trust, distrust, is //suspicion//. When you trust people, you have confidence in them, in their integrity and in their abilities. When you distrust people, you are suspicious of them­, of their integrity, their agenda, their capabilities, or their track record
 * **Trust Tax ** – The cost involved with a lack of trust in a relationship or organization.
 * **Trust Dividend ** – The performance multiplier within a relationship or organization when trust is high
 * **Self Trust** – Confidence we have in ourselves, in our ability to set and achieve goals, to keep commitments, to walk our talk, and also with our ability to inspire trust in others.
 * **Relationship Trust** **–** Deals with how to establish and increase the “trust accounts” we have with others.
 * **Organizational Trust** – Deals with how leaders can generate trust in all kinds of organizations, including businesses, not-for-profit organizations, government entities, educational institutions, and families, as well as in team and other microunits within organizations.
 * **Market Trust –** Deals with your company brand (as well as your personal brand), which reflects the trust customers, investors, and other in the marketplace have in you.
 * **Societal Trust** **–** Deals with creating value for others and for society at large.
 * **Credibility –** Having the integrity, intent, capabilities, and results that make you believable, both to yourself and to others
 * **Integrity** – Possessing congruence, humility, and courage
 * **Intent** – Having the appropriate motive, agenda, and behavior
 * **Capabilities** – The talents, skills, knowledge, capacities, and abilities that enable you to perform with excellence
 * **Results** – The tangible, measurable, end purpose and product of your efforts.

In “The Speed of Trust: The One Thing That Changes //Everything//,” author Stephen M.R. Covey argues what the title insinuates, that trust is the foundation for just about any type of human progress. Without trust, healthy relationships and organizational success become virtually impossible, however, when trust is high, individual and organizational effectiveness increase exponentially. Covey explains that building a culture of trust starts with each individual developing trust within themselves. This trust then ripples out to relationship trust, organizational trust, market trust, and societal trust.
 * __Executive Summary of the Author's Main Premise__**

With regards self-trust, Covey emphasizes the need for establishing character and competence, which include “4 cores of credibility”– integrity and intent (character), and capabilities and results (competence). In order to strengthen relationship trust, Covey explains 13 critical behaviors that individuals must develop, including: 1) talk straight, 2) demonstrate respect, 3) create transparency, 4) right wrongs, 5) show loyalty, 6) deliver results, 7) get better, 8) confront reality, 9) clarify expectations, 10) practice accountability, 11) listen first, 12) keep commitments, and 13) extend trust. In order to achieve organizational trust, leaders must align organization’s structures and systems with the 4 cores of credibility and 13 behaviors, which build trust with internal stakeholders. Market trust is attained by building a reputation or brand that is known for staying true to the cores and behaviors. Societal trust is established when organizations demonstrate responsible global citizenship, and make meaningful contributions to humanity.

Covey also emphasizes that one must take a strategic approach to building trust. Within each of the 13 behaviors, individuals must strike a balance between putting too much, or not enough emphasis on each behavior. In addition, when extending trust to others, individuals must combine having a high propensity to trust with using a high level of analysis to ensure they don’t get burned.

This book is incredibly relevant to leaders of all capacities. Whether you’re a CEO, front line employee, husband, wife, or friend, Covey makes a compelling case that trust is essential for achieving your goals, both personally and professionally. Many of history’s great leaders have emphasized the importance of trust, yet much of the literature on leadership fails to truly examine and evaluate the intricacies of building and maintaining trust in organizations and relationships. Covey’s book does just that. Covey’s practical, easy to understand framework coupled with convincing, real-life examples, and an authentic personal touch, make “The Speed of Trust” a must read for all those who aspire to be great leaders!
 * __Relevance to Leadership Concerns__**

Chapter 1 emphasizes the implications of trust. When trust goes up, organizational speed goes up, and cost goes down. When trust goes down, speed goes down, and cost goes up. It’s that simple.
 * __Key Points from Each Chapter__**

Chapter 2 discusses the nature of trust, and stresses that trust is heavily influenced by behaviors that we can change, mainly our character and competence. The chapter also reviews the “5 waves of trust:” self-trust, relationship-trust, organizational-trust, market-trust, and societal-trust.

Chapter 3 breaks down the components of the first wave of trust, self-trust, which includes the 4 “cores of credibility:” integrity, intent, capabilities, and results. Integrity includes honesty, integratedness, being congruent, and acting with courage. Intent involves peoples’ motives, agendas, and resulting behavior. Capabilities are peoples’ talents, attitudes, skills, knowledge, and style. Results involve peoples’ track record and performance.

Chapter 4 elaborates on the 13 behaviors crucial to developing the second wave of trust, relationship trust. These behaviors are 1) talk straight, 2) demonstrate respect, 3) create transparency, 4) right wrongs, 5) show loyalty, 6) deliver results, 7) get better, 8) confront reality, 9) clarify expectations, 10) practice accountability, 11) listen first, 12) keep commitments, and 13) extend trust

Chapter 5 introduces the third wave of trust, organizational trust. The chapter emphasizes the need for organizations to align their structures and systems with the 4 cores and 13 behaviors. It also highlights how to drive organizational change, avoid the most common low trust organizational taxes, and strive for high trust organizational dividends.

Chapter 6 discusses the fourth wave of trust, market trust. This chapter stresses the importance for organization’s to build a reputation among its external stakeholders to achieve successful results.

Chapter 7 highlights the fifth wave, societal trust. The chapter underlines the need for organizations to be responsible global citizens and make positive contributions to society.

Chapter 8 examines how to “inspire” trust, with an emphasis on how to extend “smart” trust to others, restore trust when it is lost, and approach others with a propensity to trust.

This book is definitely a must read! Trust is something that virtually every human has an innate sense for. We gravitate towards those we trust, and away from those we don’t trust, yet we often don’t understand the nature of why we trust someone, or why others trust us. The book offers practical advice, an easy to understand framework, along with countless real-life examples of how to build trust at various levels, from inner-trust to societal-trust. This book will most certainly transform your way of viewing yourself, relationships with others, and your part in society at large.
 * __Is the Book Worth the Read? Why or Why Not?__**