The Speed of Trust - Book Report/Review Example

The Speed Of Trust” book review Generally, trust is considered as an important factor that results in successful leadership within business world. One can see that trust is related to the concept of democratic leadership because the same is a collective entity, not totalitarian. Within this scenario, Stephen M.R. Covey’s ideas deal with the basic principles behind the successful utilization of power within organizational environment. Thesis statement: In the work The Speed Of Trust: The One Thing that Changes Everything, the author (Stephen M.R. Covey) tries to prove that trust (leadership, motivation, character, caring, credibility etc) is basically related to leadership concepts or principles within the business world, but the same is with universal relevance because it can be applied in every stage of human life. Ideas and explanation The work consists of excellent and practical ideals related to the scenario of leadership within business. So, some of the most important ideas are pointed out and explained here. Trust and leadership: The most important idea put forth by the author is that trust is related to leadership. To be specific, trust can be considered as an integral quality which is essential to be successful as a leader. Stephen M.R. Covey stated that, “We can increase trust –much faster than we might think –and doing so will have a huge impact, both in the quality of our lives and in the results we’re able to achieve” (3). If the employees feel that they can trust their leader (manager, MD), they will work hard without any pressure because trust acts as a liquid which reduces friction. In short, leadership based upon trust can excel in the business world. Trust is related to motivation and inspiration: Another idea put-forth by the author is that trust is related to motivation and inspiration. A leader must try to motivate and inspire his/her followers. Within the scenario of organizational leadership, motivation can inspire the workforce to consider that they are important within their organization/firm. This is important because successful leaders know that they must trust their employees and the same will become the part of the organizational culture. Trust can develop character and stimulate competence: Without trust, employees and their employer/leader cannot develop pleasing characters within their organization. The writer made clear that, “You might think a person is sincere, even honest, but you won’t trust that person fully if he or she doesn’t get results” (30). One can see that individuals with rough character cannot deal with others with similar character. Still, pleasing personality and pleasant character are important because the same can stimulate competence. Besides, competence can increase productivity within the context of business. So, leaders must try to realize that trust can develop character and stimulate competence. Genuine caring can develop trust in human beings: One can see that genuine caring is important within service sector and the same can develop trust in human beings. To be specific, the customers must feel that genuine caring is their right because the same can renovate organizational culture. Similarly, genuine caring can develop trust and can result in mutual understanding between employees and leader. Trust is related to credibility: From a different angle of view, trust increases credibility. If an individual is well known for his/her trust, one can easily assess that his/her credibility is high. The writer made clear that, “One study by a leading consulting firm showed that building personal credibility was the second-most-identified behavior of leaders” (48). Within the scenario of global business credibility is important because different nations follow different organizational cultures. If a leader is known for his/her trustworthiness, others will consider him/her as a leader with credibility. Restoration of lost trust is difficult: If trust is lost within a business organization, the same may result in less productivity and loss. One cannot prove that lost trust cannot be restored because collective effort can restore the same. Still, leaders must try to have their employees within their close proximity and must make them know that he/she is ready to trust them. So, leaders must realize that they must follow certain rules related to trust and must be ready to trust their employees. Leadership concepts &/or principles The leadership concepts put forth by the author in his work is related to democratic leadership, not totalitarian. For instance, the author is of the opinion that leaders must try to trust their employees and vice versa. The writer made clear that, “Whether it’s high or low, trust is the ‘hidden variable” in the formula for organizational success” (20). One can see that a democratic leader try to communicate with their followers because he/she believes in collective responsibility. Still, democratic leadership is with some limitations because employees may consider that democracy within organizational leadership as a weakness. For instance, the principle of kindness is utmost important within the scenario of business administration. On the other side, totalitarian leadership totally ignores the opinions of the employees and takes decisions without communicating with others. When an organization is at high risk related to the wastrel of valuable resources, totalitarian leadership is essential. Still, democratic leadership can result in the smooth functioning of a business organization without much effort from the side of leaders. To be specific, the modern world is in need of democratic leaders who can think like employees and act like leaders. If the leaders are not ready to communicate with the employees, brilliant and hardworking employees may face frustration due to insufficient care. Besides, some clever employees may try to influence the leader and turn him/her against others. This is not fair within an organization because leaders take apt decisions and employees act according to the same. Practical applications The practical application of the unique ideas/lessons put forth by the author is not limited within the context of business administration. Instead, its practical application extends to the context of relationships in life. For instance, parents must develop trustworthiness in their character and the same can deeply influence their children. If a child knows that his father/mother is ready to trust him/her, there exists less scope for further problems related to division of power within domestic circles. The writer made clear that, “The key is in understanding and learning how to navigate in what I’ve come to call the “5 Waves of Trust”” (33). To be specific, trust is a unique character that helps individuals to be confident in their ability. On the other side, one’s trustworthiness can be easily evaluated by assessing one’s loyalty and past deeds. In short, the unique ideas/lessons in the work can be applied in daily life. Rating/recommendation and justification I rate this work as 4 out of 5 because its practical application is not limited within the scenario of organizational culture, but extends to other fields. To be specific, leadership is a unique quality which can help individuals to be successful in different fields. The author portrays trust as an important factor that speeds up organizational success. Besides, the author makes use of interesting examples to explain complex theories and ideas related to business administration. Summing up, the author makes use of his work to prove that leadership is related to trust because the same motivates, builds character, helps to develop caring mentality, and nourishes credibility. Besides, the leadership concepts or principles pointed out and explained in the work can be applied to other fields and the same proves its practical applicability in human life. In short, the author makes provides ample importance to the concept of trust within the business world, but does not ignore the practical applicability of the same in different fields. Works Cited Covey, Stephen M.R. The SPEED of Trust: The One Thing that Changes Everything. New York: Simon and Schuster, 2006. Print. Read More