Some folks at work suggested this book so I picked it up and read it. The over-hyped rhetoric and constant aphorisms are an embarrassing distraction from the key points that are quite good. Here is my summary:
- Trust among individuals and teams affects speed and costs.
- Five "waves" of trust:
- self trust,
- relationship trust,
- organizational trust,
- market trust, and
- societal trust.
- Trust is based on character (integrity and intent) and competence (capabilities and results).
- There are 13 key behaviors that build trust: Talk Straight, Demonstrate Respect, Create Transparency, Right Wrongs, Show Loyalty, Deliver Results, Get Better, Confront Reality, Clarify Expectations, Practice Accountability, Listen First, Keep Commitments, Extend Trust.
- Low trust creates a "trust tax" that slows everything down and increases costs. High trust creates a "trust dividend" that speeds things up and reduces costs.
- Trust can be built quickly through consistent behavior and delivering results. It can also be restored if lost.
- Extending "smart trust" balances trusting others with good judgment about risks.
- Building trust is a key leadership competency
The book is in six parts:
- Part 1 - The First Wave: Self Trust: Covers the "4 Cores of Credibility": Integrity, Intent, Capabilities, Results
- Part 2 - The Second Wave: Relationship Trust: Explains the 13 behaviors that build trust in relationships
- Part 3 - The Third Wave: Organizational Trust: How to create trust in organizations through alignment
- Part 4 - The Fourth Wave: Market Trust: Building trust and reputation in the marketplace
- Part 5 - The Fifth Wave: Societal Trust
- Creating value and contributing to society
- Part 6 - Inspiring Trust: How to extend "smart trust" and restore lost trust
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