This document summarizes key points from Stephen M.R. Covey's book "Speed of Trust" presented by Mr. Jawad Ali. It discusses how trust impacts outcomes like speed and costs. The presentation covers the five waves of trust: self trust, relationship trust, organizational trust, market trust, and societal trust. It also outlines the smart trust matrix and 13 behaviors to build trust. Restoring lost trust is discussed, with self trust being the most difficult to regain. The presentation concludes with a Q&A session.
4. • DO YOU WANT PEOPLE TO INSTANTLY TRUST
YOU?
• DO YOU WANT PEOPLE TO INSTANTLY KNOW
THAT YOU HAVE A LOT OF CREDIBILITY?
• IF THE ANSWER IS YES THEN
WHY DO WE STUDY SPEED OF TRUST
5. • TRUST OUTCOMES – Speed & Cost
• EXAMPLES –
– AIRPORT SECURITY CHECKS – Aftermath of terrorism
– MERGER – Finalization of MacLane Distribution’s acquisition by Warren Buffet in
just 2Hrs meeting.
TRUST ECONOMICS & IMPORTANCE
• ORGANIZATIONAL SUCCESS
STRATEGY x EXECUTION = RESULTS
(STRATEGY x EXECUTION)* TRUST=
RESULTS
6. • FIRST WAVE - SELF TRUST
• SECOND WAVE – RELATIONSHIP TRUST
• THIRD WAVE- ORGANIZATIONAL WAVE
• FOURTH WAVE- MAKET TRUST
• FIFTH WAVE- SOCIETAL TRUST
THE FIVE WAVES OF TRUST
7. • SELF TRUST – Four Cores
• CHARACTER CORES – Integrity & Intent
• COMPETENCE CORES – Capabilities & Results
To act in accordance with your personal values & belief system
at all times & in all circumstances. Sub virtues are:
• HONESTY – Speaking Truth
• CONGRUENCY – No Gap B/w Intentions & Doings
• HUMILITY – Ability to look out for good of others
• COURAGE – Ability to do the right thing even if it is difficult
FIRST WAVE
SECOND
WAVE
THIRD WAVE
FOURTH
WAVE
FIFTH WAVE
FIRST WAVE – SELF TRUST
CORE-1 : INTEGRITY
8. • INTENT – How We Know; We Should Act
• Mr. Covey explains it with following sub-virtues:
MOTIVE – Why we do what we do
AGENDA – What we intend to achieve with our motives
BEHAVIOR – It is what we do based upon what we intends to do
– Examine & redefine your motives
– Declare your intent
– Choose Abudance
FIRST WAVE
SECOND
WAVE
THIRD WAVE
FOURTH
WAVE
FIFTH WAVE
FIRST WAVE – SELF TRUST
CORE-2 : INTENT
How to Strengthen our Intents:
9. • TALENTS – Natural Gifts & Strengths
• ATTITUDES – How you see things & act accordingly
• SKILLS – The things that we have learned to do well
• KNOWLEDGE – What we know & what we want to know
• STYLE – Your unique way of doing things
• Run with your strengths
• Keep yourself relevant
• Know where you are going
FIRST WAVE
SECOND
WAVE
THIRD WAVE
FOURTH
WAVE
FIFTH WAVE
FIRST WAVE – SELF TRUST
CORE-3: CAPABILITIES
How to Strengthen our Capabilities:
10. People only trust people who deliver results
COVEY: If The Results Aren’t There, Niether Is The Credibility. Neither Is The Trust. Its Just That
Simple; Its Just That Harsh
• Take responsibility for results
• Expect to win
• Finish strong
FIRST WAVE
SECOND
WAVE
THIRD WAVE
FOURTH
WAVE
FIFTH WAVE
FIRST WAVE – SELF TRUST
CORE-4: RESULTS
Past Current Future
RESULTS EVALUATION
How to Strengthen our Results:
11. 1. Talk Straight
2. Demonstrate Respect
3. Create Transparency
4. Right Wrongs
5. Show Loyalty
6. Deliver Results
7. Get Better
8. Confront Reality
9. Clarify Expectations
10. Practice Accountability
11. Listen First
12. Keep Commitments
13. Extend Trust
FIRST WAVE
SECOND
WAVE
THIRD WAVE
FOURTH
WAVE
FIFTH WAVE
SECOND WAVE – RELATIONSHIP TRUST
13 TRUST BEHAVIOURS
CHARACTER
COMPETENCE
12. FIRST WAVE
SECOND
WAVE
THIRD WAVE
FOURTH
WAVE
FIFTH WAVE
THIRD WAVE – ORGANIZATIONAL TRUST
LOW TRUST ORG’s HIGH TRUST ORG’s
People manipulate/distort facts People are candid & authentic
No information dissemination Information is shared openly
Point scoring is common Credit sharing
Self centered approach Transparency & Collective “Good” Approach
Innovation resistance New Ideas are welcomed
Mistakes are curbed/covered up Mistakes are considered as a way of learning
Some issues are “Un-discussables” Participative management
Over-promising and under-delivering High degree of Accountability
Low Energy Level High Energy Level
Be A Leader That Inspires Trust
13. Market trust - Brand/Reputation
Trust – Makes customers to buy certain company’s products or services.
Market Brands are judged based on people’s perceptions.
Trustworthy Brands - Generate a strong competitive advantage for
the company.
• Use FOUR CORES AS A DIAGNOSTIC TOOL & use 13 BEHAVIORS with external
stakeholders to build trust at marketplace level.
FIRST WAVE
SECOND
WAVE
THIRD WAVE
FOURTH
WAVE
FIFTH WAVE
FOURTH WAVE – MARKET TRUST
How to Enhance Your Market Trust:
14. • Trust - Integral part of the fabric of our society.
• Societal Trust – Based upon Principles of Contribution & Responsibility
• High Trust Society –Shared knowledge, Medical breakthroughs,
Technological advances, Economic partnerships and cultural exchanges
• BMGF - Enhancing healthcare/reducing extreme poverty (US $44.3 Billion)
• WARREN BUFFET - Donation of 85% of his US $ 44 Billion fortune to charity
• McDonalds - 1920 Roits in L.A
• P&G – 2 Billion ltrs. of clean drinking water by 2020 to the world
FIRST WAVE
SECOND
WAVE
THIRD WAVE
FOURTH
WAVE
FIFTH WAVE
FIFTH WAVE – SOCIETAL TRUST
CSR – Tool To Buildup Societal Trust
15. SMART TRUST MATRIXTM
Zone 1 – Readily Trust Others
Zone 2 – Ideal Trust Quadrant
Zone 3 – High Risk & Low Reward
Zone 4 – Decreases Trust & Speed
16. • Societal Trust - Can & often is restored
• Market Trust - Losing it means losing customer forever
• Organizational Trust - High Trust Org’s outperform low
Trust Org’s by three times.
• Relationship Trust – Non-transactional nature & restoration
strengthen it than before.
• Self Trust – Most difficult one to restore. Acquisition of inner
peace
TRUST RESTORATION
ITS HARDER TO RESTORE TRUST BASED UPON VIOLATION
OF CHARACTER THAN COMPETENCE
BROKEN TRUST – A New Beginning