The SPEED of Trust: The One Thing that Changes Everything

by Stephen M. R. Covey

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  NOTES AND REFERENCES

  NOTHING IS AS FAST AS THE SPEED OF TRUST

  Edward Marshall quote: Edward M. Marshall, Building Trust at the Speed of Change (New York: AMACOM, 2000), p. 3.

  Marc Benioff quote: Stuart Lauchlan, “Davos 2016—No Speed Limit in Pursuit of Digital Transformation,” Diginomica.com, January 21, 2016.

  Niall Fitzgerald quote: Niall Fitzgerald, Address to the Advertising Association, London, May 2001.

  words of Jack Welch: Jack Welch, Winning (New York: HarperCollins, 2005), p. 71.

  Jim Burke quote: Mukul Pandya and Robbie Shell, Lasting Leadership: What You Can Learn from the Top 25 Business People of Our Times (Upper Saddle River, NJ: Wharton School Publishing, 2005), pp. 45–46.

  various polls circa 2018: Art Swift, “Americans’ Trust in Mass Media Sinks to New Low,” Gallup.com, September 14, 2016; Pew Research Center, “Public Trust in Government: 1958–2017,” People-Press.org, December 14, 2017; “Confidence in Institutions,” Gallup.com, June 21, 2018.

  people trusting other people: General Social Survey/World Values Survey; Esteban Ortiz-Ospina and Max Roser, “Trust,” OurWorldIn Data.org; David Halpern, “Trust in business and trust between citizens,” Prime Minister’s Strategy Unit, April 13, 2005; also, John Elliott and Lauren Quaintance, “Britain is getting less trusting,” The Sunday Times, May 18, 2003; also David Halpern, Social Capital (Malden, MA: Polity Press, 2005).

  only 45% of employees: Willis Towers Watson, “Global Workforce Study,” 2016.

  only 18% of people: Ty Kiisel, “82 Percent of People Don’t Trust the Boss to Tell the Truth,” Forbes.com, January 30, 2013; “Edelman Trust Barometer 2013,” Edelman.com.

  76% of employees: KPMG, “Organizational Integrity Survey,” 2000.

  The number one reason: Gina Imperato, “How to Hire the Next Michael Jordan,” Fast Company, December 1998, p. 212; also Marcus Buckingham and Curtis Coffman, First, Break All the Rules: What the World’s Greatest Managers Do Different (New York: Simon & Schuster, 1999), p. 33.

  One out of every two: Divorce magazine and U.S. Census Bureau data.

  Consider the percentage: Donald McCabe survey, Rutgers University, 1992; also, Marianne M. Jennings, “Ethics: Why It Matters and How You Do It,” Journal of Government Financial Management, Supplement Fall 2005.

  76% of MBAs: Marianne M. Jennings, A Business Tale: A Story of Ethics, Choices, Success and a Very Large Rabbit (New York: AMACOM, 2003), p. 87; also, Dawn Blalock, “Study Shows Many Execs Are Quick to Write Off Ethics,” Wall Street Journal, March 26, 1996, C1, C22.

  ethical dilemma exams: Marc Ransford, “Convicts and MBA grads have similar ethics,” Ball State University, 1999.

  at $35 billion: Candice S. Miller, “The Sarbanes-Oxley Act 4 Years Later: What Have We Learned,” House Subcommittee on Regulatory Affairs, April 5, 2006 (from a memorandum submitted March 29, 2006).

  Warren Buffett wrote: Warren Buffett management letter, Berkshire-Hathaway Annual Report, 2004.

  Klaus Schwab quote: Frank Kane, “WEF Founder Klaus Schwab Tells Abu Dhabi of the Fourth Industrial Revolution,” TheNational.ae, October 27, 2015.

  Executive EQ, the authors: Robert K. Cooper and Ayman Sawaf, Executive EQ: Emotional Intelligence in Leadership and Organizations (New York: Berkley Publishing Group, 1996), p. 88.

  Patricia Aburdene quote: Patricia Aburdene, Megatrends 2010: The Rise of Conscious Capitalism (Charlottesville, VA: Hampton Roads Publishing Company, 2005), p. xiv.

  John Whitney quote: John Whitney, The Trust Factor: Liberating Profits and Restoring Corporate Vitality (New York: McGraw-Hill, 1994), front flap.

  author Francis Fukuyama: Francis Fukuyama, Trust: The Social Virtues and the Creation of Prosperity (New York: The Free Press, 1995), pp. 27–28.

  Robert Shaw, has said: Robert Bruce Shaw, Trust in the Balance: Building Successful Organizations on Results, Integrity and Concern (San Francisco: Jossey-Bass Publishers, 1997), p. xi.

  Great Place to Work: Amy Lyman, “The Trustworthy Leader Summary,” saen.GreatPlaceToWork.com, accessed June 27, 2018.

  Similarly, a study: Watson Wyatt, WorkUSA study, 2002.

  study by Stanford professor: Tony Bryk speech, “Trust Improves Schools,” Stanford Educational Leadership Conference, November 5, 2004; also, Anthony S. Bryk and Barbara Schneider, Trust in Schools: A Core Resource for Improvement (New York: Russell Sage Foundation Publications, 2002).

  Thomas Friedman quote: Thomas L. Friedman, The World Is Flat: A Brief History of the Twenty-First Century (New York: Farrar, Straus and Giroux, 2005), p. 394.

  YOU CAN DO SOMETHING ABOUT THIS!

  Marc Benioff quote: “In Technology We Trust,” panel, World Economic Forum, January 2018.

  Jim Collins: Jim Collins, Good to Great: Why Some Companies Make the Leap . . . and Others Don’t (New York: HarperBusiness, 2001), also, Jim Collins and Jerry Porras, Built to Last: Successful Habits of Visionary Companies (New York: HarperBusiness, 1994), p. 80.

  Warren Buffett: Richard G. Hagstrom, The Warren Buffett Way: Investment Strategies of the World’s Greatest Investor (New York: John Wiley, 2004), p. 102.

  Cheryl Bachelder: Cheryl Bachelder, Dare to Serve (Oakland, CA: Berrett-Koehler Publishers, 2015), p. 7.

  Ram Charan: Ram Charan, What the CEO Wants You to Know (New York: Crown Business, 2001), p. 94.

  Saj-Nicole Joni: Saj-Nicole Joni, “The Geography of Trust,” Harvard Business Review, March 2004.

  Rich Jernstedt quote: Golin/Harris press release, “Trajectory of Trust in American Business Shows Signs of Improvement If Brands Act Decisively,” AME Info, April 27, 2003.

  John Adams and Thomas Jefferson: David McCullough, John Adams (New York: Simon & Schuster, 2001), pp. 312, 603, 604, 632, 640.

  “Life to me is”: Margot Morrell, Shackleton’s Way: Leadership Lessons from the Greatest Antarctic Explorer (New York: Penguin, 2001), p. 209.

  Jim Burke quote: Adrian Gostick and Dana Telford, The Integrity Advantage: How Taking the High Road Creates a Competitive Advantage in Business (Salt Lake City: Gibbs Smith, Publisher, 2003), p. 9.

  THE 4 CORES OF CREDIBILITY

  John Maxwell quote: John Maxwell, “Don’t B
ankrupt Your Leadership!” JohnMaxwell.com, March 4, 2009.

  “Given his track record”: Jesse Eisinger, “Buffett’s Reputation May Be Tested,” Wall Street Journal, March 31, 2005, p. 1C.

  “Here’s somebody who is”: Del Jones, “Buffett maintains respect of fellow CEOs,” USA Today, March 30, 2005, p. 2B.

  Warren Buffett quote: Warren Buffett testimony, Trading of Government Securities, House Commerce Subcommittee, September 8, 1991.

  only 8 percent actually keep them: Ellen Tomson, “Skip the resolutions and make a commitment,” Knight Ridder Newspapers, January 14, 2006.

  story of Wally Thiim: Greg Link interview with Wally Thiim, April 17, 2006.

  Peter Drucker quote: Peter Drucker, Managing the Non-Profit Organization: Principles and Practices (New York: HarperCollins, 1990), p. 9.

  study by a leading: “Updating the Meaning of Leadership,” AchieveGlobal study, 1998.

  Harvard Business School: Harvard Business School, MBA Applicant Letter of Recommendation.

  Adam Grant quote: Twitter, @AdamMGrant, April 6, 2017.

  Victor Fung quote: PriceWaterhouseCoopers, 6th Annual Global CEO Survey: Leadership, Responsibility, and Growth in Uncertain Times, 2003.

  CORE 1—INTEGRITY: ARE YOU CONGRUENT?

  Italia Masters Tournament: Frank Deford, “Game, Set, Ma—: In losing a match, Roddick became a true sportsman,” Sports Illustrated.com, May 11, 2005.

  Oprah Winfrey quote: Emily Co, “8 Valuable Life Lessons from Oprah Winfrey,” BusinessInsider.com, November 3, 2014.

  As Chris Bauer: Patrick J. Kiger, “Steal Big, Steal Little,” Workforce Management Online, December 2005.

  George Washington quote: The Westminster Collection of Christian Quotations, edited by Martin H. Manser, (Louisville: Westminster John Knox Press), p. 176.

  Desai responded: Eknath Easwaran, Gandhi the Man (Petaluma, CA: Nilgiri Press, 1978), p. 112.

  “All the good-to-great”: Collins, Good to Great, p. 22.

  Jim Collins quote: Ibid., pp. 12–13.

  Anne Mulcahy quote: Douglas Barry, Wisdom for a Young CEO, p. 137.

  A great example of integrity: Huntsman, Winners Never Cheat, pp. 81–83.

  Consider Anwar Sadat: Anwar el-Sadat, In Search of Identity: An Autobiography (New York: HarperCollins, 1978).

  Patricia Aburdene quote: Aburdene, Megatrends 2010, p. xiv.

  CORE 2—INTENT: WHAT’S YOUR AGENDA?

  surveys comparing trust levels: MORI Social Research Institute, Exploring Trust in Public Institutions, Report for the Audit Commission, 2002.

  a translator for CNN: Canadian Broadcasting Association, “CNN in trouble with Iran over mistranslation,” CBC.CA Arts, January 17, 2006.

  Dalai Lama quote: The Dalai Lama and Desmond Tutu, with Douglas Abrams, The Book of Joy, (New York: Penguin Random House, 2016), pp. 61–62.

  Jimmy Johnson quote: Bill Catlette and Richard Hadden, Contented Cows Give Better Milk: The Plain Truth About Employee Relations and Your Bottom Line (Germantown, TN: Saltillo Press, 2001), p. 88.

  Jim Meehan quote: Jim Meehan, Reasons Have Hearts Too: Thoughts and Feelings Are Inseparable (Allen, TX: Thomas More Publishing, 2000), p. 70.

  experience of Shea Homes: Author interview with Buddy Satterfield, May 1, 2006.

  George J. Flynn quote: foreword to Simon Sinek’s book, Leaders Eat Last (New York: Portfolio, 2014).

  Some years ago, three: Andy Serwer, “Hot Starbucks to Go,” Fortune, January 26, 2004; also, see the dedication page of Howard Schultz and Dori Jones Yang, Pour Your Heart into It: How Starbucks Built a Company One Cup at a Time (New York: Hyperion, 1997).

  Only 29% of: Age Wave and The Concours Group, New Employer/Employee Equation Survey, New York, 2005 (conducted by Harris Interactive).

  Only 42% believe: Towers Perrin HR Services, The 2003 Towers Perrin Talent Report—WorkingToday: Understanding What Drives Employee Engagement, 2003.

  Sam Walton quote: Charles Garfield, Second to None: How Our Smartest Companies Put People First (New York: Avon, 1992), p. 201.

  Doug Conant, former CEO: Author interview with Doug Conant, April 21, 2006.

  Our whole goal: Huntsman, Winners Never Cheat, p. 160.

  I don’t think of myself: Marcia Nelson, The Gospel According to Oprah (Louisville, KY: Westminster John Knox Press, 2005), p. x.

  Laura Schlessinger quote: Laura Schlessinger, Bad Childhood—Good Life: How to Blossom and Thrive in Spite of an Unhappy Childhood (New York: Harper-Collins, 2006), p. 15

  CORE 3—CAPABILITIES: ARE YOU RELEVANT?

  the Peter Principle: Laurence J. Peter and Raymond Hull, The Peter Principle (New York: Bantam Books, 1970), p. 7.

  parable of the talents: Matthew 25, the Bible.

  I was blessed: Eugene O’Kelly, Chasing Daylight: How My Forthcoming Death Transformed My Life (New York: McGraw-Hill, 2006), pp. 1–2.

  Steve Jobs said: Guy Kawasaki, The Art of the Start (New York: Portfolio, 2004), p. 101.

  LeBron James: Ben Cohen, “LeBron James Keeps Getting Better with Age,” Wall Street Journal, December 21, 2017; Jeff Zillgitt, “LeBron James Improving Another Area of His Game,” USA Today, January 2, 2017.

  Will Smith quote: Jonny Miller, “Will Smith’s Philosophy,” Medium.com, accessed June 27, 2018.

  Nelson Mandela quote: “Address by Nelson Mandela at launch of Mindset Network, Johannesburg,” Mandela.gov.za, July 16, 2003.

  information now doubles: James Gelatt, “Scanning for Megatrends in the Nonprofit World,” Contributions Magazine, September/October 2000.

  told by Marion D. Hanks: Marion D. Hanks, “Good Teachers Matter,” Ensign, July 1971.

  Every few months: Pamela Kruger and Katharine Mieszkowski, “Stop the Fight,” Fast Company, September 1998, p. 93.

  [John Mackey] doesn’t: Charles Fishman, “The Anarchist’s Cookbook,” Fast Company, July 2004, p. 70.

  called Chainsaw Al: David Plotz, “Al Dunlap: The chainsaw capitalist,” Slate, August 31, 1997; also Albert J. Dunlap with Bob Andelman, Mean Busyness: How I Save Bad Companies and Make Good Companies Great (New York: Fireside, 1997), p. 125.

  the Gallup organization: Marcus Buckingham and Donald O. Clifton, Now Discover Your Strengths (New York: The Free Press, 2001), p. 6.

  Jim Collins talks: Collins, Good to Great, p. 13.

  General Eric Shinseki quote: Tom Peters, Re-imagine!: Business Excellence in a Disruptive Age (London: Dorling Kindersley Ltd., 2003), p. 3.

  Consider Netflix: “Netflix Timeline,” Netflix.com; “Netflix’s History: From DVD Rentals to Streaming Success,” bbc.co.uk, January 23, 2018; Greg Satell, “A Look Back at Why Blockbuster Really Failed and Why It Didn’t Have To,” forbes.com, September 5, 2014.

  Harvey Golub quote: Barry, Wisdom for a Young CEO, p. 121.

  at the end of the day: Author interview with Jack Trout, December 2, 2005.

  Christopher Galvin quote: Barry, Wisdom for a Young CEO, p. 67.

  CORE 4—RESULTS: WHAT’S YOUR TRACK RECORD?

  Craig Weatherup quote: Shaw, Trust in the Balance, p. 73.

  Peter Aceto quote: Peter Aceto, Weology (Toronto: Harper Collins 2015), p. 175.

  “We thought that”: Jill Rosenfeld, “Here’s an Idea!” Fast Company, April 2000, p. 97.

  David Sokol, CEO: Susan Pulliam and Karen Richardson, “Warren Buffett, Unplugged,” Wall Street Journal, November 12, 2005.

  Elon Musk: Andrew Griffin, “SpaceX Launch: Elon Musk Shows Tesla Car That Will Be Shot on Falcon Heavy Rocket and Spend Billions of Years in Space,’ Independent.co.uk, February 5, 2018.

  following standard operating: Tom Peters, Thriving on Chaos: Handbook for a Management Revolution (New York: Knopf, 1987), p. 307.

  “Johnson outlined his company’s”: Tamara Kaplan, “The Tylenol Crisis: How Effective Public Relations Saved Johnson & Johnson,” Pennsylvania State University, 1998.

  study by Dr. Robert Rosenthal: Wikipedia.org.

  Rosabeth Moss Kanter has observ
ed: Rosabeth Moss Kanter, Confidence (New York: Crown Business, 2004), pp. 7, 29.

  THE 13 BEHAVIORS

  sang (somewhat disparagingly) to “Freddy:” Alan Jay Lerner, My Fair Lady, Sony, 1964.

  Azim Premji quote: S. K. Sharma and Usha Sharma, Encyclopaedia of Higher Education: The Indian Perspective (New Delhi India: Mittal Publications 2005), p. 344.

  I love the story: Credited to Dr. George Crane, source unknown.

  BEHAVIOR #1: TALK STRAIGHT

  Dell Inc.’s Code: Dell.com.

  For example, he writes: Warren Buffett, Berkshire Hathaway Annual Reports, 2004, 2005.

  only 44 percent: Mercer’s What’s Working US Survey 2011, January 17, 2012.

  “The Emperor’s New Clothes”: Mette Norgaard, The Ugly Duckling Goes to Work: Wisdom for the Workplace from the Classic Tales of Hans Christian Andersen (New York: AMACOM, 2004), p. 21.

  BEHAVIOR #2: DEMONSTRATE RESPECT

  the most reputable bank: “Synovus Ranked Most Reputable Bank in the U.S. in American Banker’s Survey of Bank Reputations,” Synovus.com, June 28, 2017.

  “There’s a common thread”: James Blanchard speech at the Beta Gamma Sigma International Honoree Luncheon, April 22, 2005, as reported by the Beta Gamma Sigma International Society and available at betagammasigma.org.

  the “Waiter Rule”: Del Jones, “CEOs vouch for Waiter Rule: Watch How People Treat Staff,” USA Today, April 14, 2006, p. 1B.

  came to the last question: Adapted from The Motivational Manager.

  three pillars of trust: Great Place to Work Institute, Inc., GreatPlace ToWork.com.

  Sirota Survey Intelligence: News in Brief, “The Longer Employees Work at a Company, the Less Happy They Are, Study Finds,” Workforce Management.com, February 10, 2005; also, David Sirota, Louis Mischkind, and Michael Irwin Meltzer, The Enthusiastic Employee: How Companies Profit by Giving Workers What They Want (Upper Saddle River, NJ: Wharton School Publishing, 2005).