The SPEED of Trust: The One Thing That Changes Everything
by Stephen M.R. Covey
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Book Summary Information
Author: Stephen M.R. CoveyForeword: Stephen R. Covey
Contributor: Rebecca R. Merrill
Edition: Paperback
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2008-02-05
ISBN: 1416549005
Number of pages: 384
Publisher: Free Press
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- The SPEED of Trust: The One Thing that Changes Everything
- The SPEED of Trust: The One Thing that Changes Everything
Book Reviews of The SPEED of Trust: The One Thing That Changes Everything
Book Review: Good Information, Hard to Listen to
Summary: 3 Stars
In light of the recent financial crisis and events that led or contributed to the current recession, the topic of this book is both timely and enduring. Covey describes trust as being based on character and competence, where character is required and competence is situational. He uses financial terms as a concrete way to convey the cost of low trust and the benefit of high trust, describing the former as a trust tax and the latter as a trust dividend. The quickest way to make a withdrawal, he insists, is to violate a behavior of character, and the quickest way to make a deposit is to demonstrate a behavior of competence. He goes on to detail seven low trust taxes (redundancy, bureaucracy, politics, disengagement, turnover, churn, and fraud) and seven high trust dividends (increased value, accelerated growth, enhanced motivation, improved collaboration, stronger partnering, better execution, and heightened loyalty).
Covey also outlines what he characterizes as five waves of trust: self-trust, relationship trust, organizational trust, market trust, and societal trust. For each of these waves, he applies the concept of the four cores (integrity, intention, capabilities, and results) and the thirteen behaviors of high-trust leaders (talk straight, demonstrate respect, create transparency, right wrongs, show loyalty, deliver results, get better, confront reality, clarify expectations, practice accountability, listen first, keep commitments, and extend trust). The book includes a multitude of practical applications and pushes the reader to reflect on his or her own behavior.
Despite the fact that I have recommended this book, I do so with some caveats. First, I listened to this book as an audio download and although I generally like it when an author reads the book, that was not the case for this one. Covey is a Harvard MBA, but I was astounded at the number of mispronunciations. His reading style has a hesitating tempo to it that comes across as patronizing, and his incessant family examples are over the top. He's a business man, not a family therapist, and as Tom Peters would say, he should stick to his knitting. Those examples got very tiresome. Still, there are nuggets in the book, so perhaps reading it rather than listening to it is the way to go.
Summary of The SPEED of Trust: The One Thing That Changes Everything
From Stephen R. Covey's eldest son comes a revolutionary new path towards productivity and satisfaction. Trust, says Stephen M.R. Covey, is the very basis of the new global economy, and he shows how trust-and the speed at which it is established with clients, employees and constituents-is the essential ingredient for any high-performance, successful organization.For business leaders and public figures in any arena, The Speed of Trust offers an unprecedented and eminently practical look at exactly how trust functions in our every transaction and relationship-from the most personal to the broadest, most indirect interaction-and how to establish trust immediately so that you and your organization can forego the time-killing, bureaucratic check-and-balance processes so often deployed in lieu of actual trust.
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