Book Review: “The Speed of Trust: The One Thing that Changes Everything”
The selected book for the analysis is titled The Speed of Trust: The One Thing that Changes Everything. This work belongs to the well-known writer in management Stephen Covey. The main idea of the book is to show readers that trust is highly valuable in terms of a company’s development. It helps to reduce costs and enhance productivity of employees. From this point of view, the author emphasizes a need to support relations in both external and internal environment and penetrate them with trust. Otherwise, a company’s performance will be costly enough to slow down the movement towards goals leading to success. The author offers to develop a model that can enhance trust and help each individual to build relations on trust. Covey suggests a model including five waves of trust, which are applicable at any state of business relations. These waves formulate five levels, which include self-trust, organizational trust, relationship trust, societal trust, and market trust (Covey and Merrill). Further, the author explains each level and focuses on four cores of trust, which aim to help every individual to build business relations on trust. First, the author offers a reader to ask a question: “Do you do what you say?” (Covey and Merrill). The next core asks a reader if there is any hidden agenda. The third core asks the reader about relevance. The final question focuses on the record of accomplishment. Further, the book discusses the behaviors, which can help in the formulation of trust. These behaviors are written in the form of a guide, which the author uses to support the main idea. By the end of the book, the author reminds readers that trust is a significant element in building a company’s performance and overall business strategy.
The main point the author is trying to make is to explain the importance of learning more about gaining trust. In addition, the book focuses on the benefits that each manager will experience by building trust. For example, the author points out that trust helps to establish reliable relations with employees, which will be eager to work for the benefits of a company. Moreover, the level of productivity will have a significant increase, which will reduce the level of costs. Further, the author suggests that trust helps to build the reputation of a company as long as it will be streaming from a company (Covey and Merrill). In particular, the point of the book is to teach each manager to learn how to regulate the level of trust and how to fix it even in the most mistrusting relations. The author makes it obvious that a company cannot grow, develop, and go through the stages of the evolutional process by neglecting the relations with employees, partners, and society in general. In particular, the author reminds that the speed of losing trust is high, while the speed of gaining it is slow enough to make it a difficult task.
It is hard not to agree with the author that business development fully depends on relations with external and internal environment. It is impossible to develop business without paying attention to the regulation of the relations with the surrounding people. Personally, I agree that the book is an effective guide towards building and rebuilding relations with employees. Regardless of the current status of relations, any person is capable of improving relations by working on personal image and reputation and then transforming it in the reputation of a company. In general, the author is right by providing a reader with the model of trust and steps that should be taken in order to gain it. The book is easy to read that makes it a valuable resource for understanding the essence of making choice between irresponsible attitude towards relations and mindful regulation of trust. In both cases, the result will be different and the speed of achieving nothing is far bigger than the speed of gaining trust. However, the effect is worth waiting as long as it grants an owner of a company with success and further development. In general, I agree with the author that building trust is a complex process, which should consider a model, approaches, and different stages of the behavior. In other words, it is necessary to apply a systematic approach toward making a change in the development of relations.
The book has a relation to the class by pointing at the benefits of the improvement. For example, the book mentions that the proposed method of transforming relations is most likely to reduce costs and enhance productivity (Covey and Merrill). It means that the overall efficiency of business will have a total improvement. In addition, the book points at the idea that relations with both external and internal environment can have a significant influence on the development of a company. Trust is the core of building a team instead of a group of individuals working without any interdependence. A team is capable of working on multiple tasks by means of division of labor, which helps to increase the speed of completing tasks. Moreover, it helps to enhance not only the speed of completing tasks, but also an overall efficiency of results. In addition, the topic of the book covers the idea revealed in the class regarding enhancement of productivity by appropriate management of human relations. It is possible to say that it has a direct connection to human resources planning and regulation. For example, division of labor is also related to the efficiency of trust. In particular, the book can become a supporting element of the lectures as long as it provides with in-depth knowledge of following a set of principles leading to the improvement of a company’s reputation and image. However, the start of improvement remains the same, which focuses on personal changes.