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Good, True Insights but a lot of Padding Dec 29, 2007 (116 of 122 found this helpful)
First off this book has an important and true message about just how vital trust really is to getting anything done. The lack of trust in modern society, and its continuing decline is a major issue not just in business, but socially, politically and in the family. Thus this is a timely book and the 3 star rating is not meant to indicate that it is really wrong or poorly written in any manner.
The reason for the only 3 star rating is that there is a whole lot of padding. The author does a very insightful job of investigating the components of trust, and exploring and explaining the dynamics of how trust can be built (and destroyed) in families, in teams, and in institutions. These explanations make it worth buying the book and at least reading it's . . . table of contents. The only problem is that the book is easily twice as long as it needs to be. I really think there's nothing wrong with a short book, but the author and/or publishers must have been afraid that the sixty page or so treatise these could have been wouldn't have been taken seriously.
A good book you should read and implement, or perhaps read the first few pages of each chapter and skim at will when it starts to sound like it's just filling space on the page.
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A Description of the Advantages of Forming Trust, the Psychology of Trust, and How to Build Trust Nov 22, 2007 (81 of 86 found this helpful)
Trust can make things easier, and distrust can definitely make things much harder. You already know that. But do you know how to check out where you need to change in order to create more beneficial trust? The Speed of Trust can help those who need a template for such self-examination.
Mr. Stephen M. R. Covey is the son of Dr. Stephen R. Covey of 7 Habits of Highly Effective People fame. If you've read that famous book, you may remember young Stephen referred to by his father as the seven-year-old son who was asked to keep the yard "clean and green" and did neither at first. Dr. Covey writes the foreword for this book and refers to that example. Ms. Rebecca Merrill helped with the writing of Dr. Stephen R. Covey's book First Things First which was coauthored by Roger Merrill.
Trust is expressed by a paradigm that includes five waves of trust (self trust based on the principle of credibility, relationship trust based on the principle of proper behavior, organizational trust based on the principle of alignment, market trust based on the principle of reputation, and societal trust based on the principle of contribution). Most of the book is taken up with examining those five waves and their underlying principles. The core of the book comes, however, in the 13 behaviors that establish trust (talk straight, demonstrate respect, create transparency, right wrongs, show loyalty, get better, confront reality, clarify expectations, practice accountability, listen first, keep commitments, and extend trust). Each section of the book comes with ways to check on your performance and to create plans for improvement.
This book is by far the best development of the subject of creating and restoring trust that I have read. That makes the book an essential reference. I congratulate and appreciate the authors for tackling this important subject.
I would be remiss, however, in being a trustworthy reviewer if I didn't point out some weaknesses in the approach:
1. Some of the examples of trust and mistrust drawn from Mr. Covey's experiences aren't terribly satisfying to read. Perhaps the most jarring example is one of the early ones in the book that describes the distrust that the Franklin Quest people felt toward him after the company merged with Covey Leadership Center. Mr. Covey comes across as unbelievably naive for not having taken into account how the two cultures should mesh (if at all) in engineering the merger. That's a more fundamental lesson than the lack of trust point. In addition, he doesn't seem to realize that merely being the son of the company's founder would make many people who didn't know him skeptical of his qualifications and his talent. Having read about how naive Mr. Covey was in this situation undercut my confidence in his ability to address the subject of trust. But I did appreciate his willingness to share such a painful experience in his book.
2. Most of the examples that are cited that do not involve Mr. Covey's direct experience are very overused. They same examples have been used to prove excellence in many other dimensions. As a result, the book doesn't come alive as much as it might. The examples conjure up memories of other books and arguments rather than cleanly bringing across the authors' trust-related points.
3. The book's structure and style are pretty pedantic, but without the precision that an academic would bring to the subject. In most areas, the authors rely on your sense of what's right rather than giving you clear lines of what to do and what not to do. That's fine if you already have a well-defined sense of how trust is formed and re-established. But if you don't know the answers already because you haven't lived in that kind of an environment, the book will leave you with too little direction.
4. Ultimately, long sections of the book are very general and boring. The
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The importance of trust! Jan 23, 2008 (47 of 50 found this helpful)
There is one thing that is common to every individual, organization, nation, and civilization throughout the world--one thing which, if removed, will destroy the most powerful government, the most successful business, the most thriving economy, the most influential leadership, the greatest friendship, and the deepest love. On the other hand, if developed and leveraged, that one thing has the potential to create unparalleled success and prosperity in every dimension of life. According to the author, that one thing is trust.
The author says that "The Five Waves of Trust" define the way we establish trust and make it actionable. Understanding these waves will enable you to speak and behave in ways that establish trust, allowing you to become a leader who gets results by inspiring trust in others.
First Wave: Self Trust. The key principle underlying this wave is credibility.
Second Wave: Relationship Trust. The key principle underlying this wave is consistent behavior.
Third Wave: Organizational Trust. The key principle underlying this wave, alignment, helps leaders create organizational trust.
Fourth Wave: Market Trust. The underlying principle behind this wave is reputation.
Fifth Wave: Societal Trust. The principle underlying this wave is contribution.
Here is a list of useful concepts I liked in the book:
Trust is the "hidden variable" in the formula for organizational success. The traditional business formula is: (Strategy x Execution = Results). But there is a hidden variable: (Strategy x Execution) x Trust = Results.
Trust always affects two outcomes: speed and cost. When trust goes down, speed goes down and cost goes up. Consider the time and cost of airport security after 9/11, or costs for Sarbanes-Oxley Act compliance in response to Enron, WorldCom and other corporate scandals. When trust goes up, speed goes up and cost goes down. Warren Buffett completed the acquisition of McLane Distribution from Wal-Mart on the basis of a two-hour meeting. Because of high trust between the parties, the merger took less than a month.
In a high-trust relationship, you can say the wrong thing and people will still get your meaning. In a low-trust relationship, you can be very precise, and they'll still misinterpret you.
If we can't trust ourselves, we'll have a hard time trusting others.
Who do you trust? Why do you trust this person? Now consider an even more provocative question: Who trusts you?
To use the metaphor of the tree, integrity is the root. Even though it's underground and not even visible most of the time, it is absolutely vital to the nourishment, strength, stability and growth of the entire tree. We've all seen people with enormous capability, strong results, and good intent who go about what they're doing in a dishonest way. On the other hand, to have integrity only is to be a "nice guy," or a thoroughly honest person, who is basically useless. To most people, integrity means honesty--telling the truth and leaving the right impression.
Results matter to your credibility. They give you clout. Returning once again to the metaphor of the tree, results are the fruits--the tangible, measurable, end purpose and product of the roots, trunk and branches.
Sometimes, poor behavior turns out to be bad execution of good intent.
Communicate clearly so that you cannot be misunderstood. Declare your intent, so you leave no doubt about what you are thinking. Be honest and call things what they are. Don't manipulate people, distort facts, or leave false impressions.
Be real and genuine and tell the truth in a way that people can verify.
Make restitution instead of just apologizing. The opposite is to deny or justify wrongs because of ego and pride, and to cover up mistakes. Apologize quickly, take action to make restitution when po
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The Apple Did Not Fall Far From the Tree Apr 10, 2007 (25 of 27 found this helpful)
Stephen M.R. Covey is the son of the famous Stephen R. Covey, author of The 7 Habits of Highly Effective People. Not surprisingly, many of his father's themes are interwoven throughout this book.
Covey maintains that "Nothing is as fast as the speed of trust," meaning nothing can accelerate a transaction, a task, or project of any kind like trust. For instance, when there is a high level of trust between parties in a business transaction, deals can be made in minutes with a handshake.
Not only does trust make things faster, it simply makes every aspect of our lives better. To use another business example, a high level of trust between an organization's members promotes innovation, generates productivity, and results in cost savings. Trust "changes everything." It's not just a touchy-feely concept. Covey gives statistics to back it up.
Covey explains that trust is a function of character and competence. He further breaks these components down into "4 Cores of Credibility" - integrity, intent, capabilities, and results. He also outlines 13 Behaviors that generate trust. The Cores and Behaviors "are the tools that establish or maintain trust in every context." Similar to the 7 Habits, it all starts with the individual - i.e. self trust. Trust then can extend or ripple an additional 4 waves - to relationship trust, organizational trust, market trust, and societal trust. Covey gives tips for how to develop trust at each wave, resulting in increasingly remarkable outcomes.
After reading the book, you will believe that, "prioritizing trust - actively seek to establish it, grow it, restore it, and wisely extend it - will bring personal and organizational dividends that far exceed any other path." Although it has value for everyone, this book is especially helpful and important reading for those in leadership positions.
Nick McCormick - Author, Lead Well and Prosper
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Practical advice to improve effectiveness - Trust me! Nov 12, 2006 (18 of 19 found this helpful)
We all read books through our own lens. As a coach and consultant to boards of directors, I see The Speed of Trust as essential reading for any leader on any board. Whatever the Sarbanes-Oxley Act and all the other rules and checklists may hope to impose, the fundamental input for effective boards is TRUST. I call it the "currency of the boardroom".
Stephen has taken what is often passed off as "airy-fairy" and made it both tangible and accessible. His superb examples and illustrations from real life help the reader quickly see the empirical evidence that trust truly speeds up everything. Trust saves time -- Trust saves money. Even more, he has identified, explained, and elaborated on 13 behaviors that enable anyone to establish and enhance trust in any relationship.
Building on the legacy that his father has built, the younger Covey gives us all solid advice and important tools to live lives of character. And while many of us may buy this book with the hopes of helping our professional lives, it will immediately impact our personal lives.
You'll want everyone close to you to read it, too. I've already given out several copies!