CRITIQUE OF THE SPEED OF TRUST 4
Critiqueof the Speed of Trust
Covey(2006), the author of the book Speed of Trust belabors the issueabout the importance of trust in all areas of a person’s life andmore so in the organizations. He justifies his arguments using manymodern day business scenarios which show that confidence indeeddetermines whether an enterprise is successful or not. Coveyattributed the success of the FranklinCovey merger to trust amongparties from the two merging parties. He explains how he earned thetrust of the other company’s employees and reduced the days thatcould have been spent in deliberating about the merging process. Theauthor also proposes that when the level of trust is low, the speedalso goes down while the cost rises. Conversely, when the trust ishigh, the rate rises as well, and the operation cost of the businessgoes down. He explains that companies, the media, government, andrelationships rely on trust in order to thrive.
Theauthor also observes that companies put a lot of emphasis on the mostconcrete issues such as techniques, technology and training in a bidto boost the performance of the enterprise. The flaw with thisapproach is that, companies focus on these issues while overlookingtrust that is the root of all most problems that affects thebusiness. The author asserts that investing in the latest technologyand implementing the best strategies cannot yield results when thereis a lack of trust in the people who are supposed to implement theplans. In the book also, the author has also given concrete evidenceto show how faith influences businesses.
Hequotes different influential figures in the world of business andpolitics such as Neil Fitzgerald, Tom Peters, Jim Burke and MahatmaGandhi to back his assertions on the role of trust in companies. Theauthor notes that we can restore lost faith, contrary to popularbelief that once people lose it, it cannot be rebuilt. In his opinionalso, confidence is a delicate balance in most people’srelationships and without it no relationship can survive. Truststarts at the most fundamental level which is the personal level, therelationship level, to the organizational level, the market, and thesocietal stage. He asserts that it is only possible to achieve trustwhen the people involved have good character and integrity. He alsoobserves that it is more dangerous not to trust people than trustingthem hence there can be more cohesion and harmony if people trustedeach other more. Trust is even more crucial in the business worldamong the employees, management, stakeholders, business partners, andmerging partners. The more practical strategy that can applyin my workplace is the issue of instilling trust amongst employees.Most of the staff do not staff that the management has theirinterests at hurt, and they are usually afraid of becomingwhistleblowers lest they lose their jobs. The small level of trustoften leads to low productivity to the company as employees believethat they are expected to work harder than those in management whoget better pay than them. Thus, the management should communicatemore openly with the employees and win their trust. It should alsogive less focus to technology, promotions, bonuses and rewards andpay more attention to increasing the level of trust with its staffs,public, and stakeholders. In addition, the company should alsotrust its employees more and give us the staff more autonomy andresponsibility. That way, we will feel a sense of belonging and bemore motivated to work.
Covey,M.R. S., & Merrill, R. R., (2006), TheSpeed of Trust,New York, Simon and Schuster.