The SPEED of Trust: The One Thing that Changes Everything

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The SPEED of Trust: The One Thing that Changes Everything Page 42

by Stephen M. R. Covey


  Lenovo: Gina Qiao and Yolanda Conyers, The Lenovo Way, (McGraw-Hill Education, 2014), pp. 104–110.

  only 29 percent: Age Wave and The Concours Group, New Employer/Employee Equation Survey, 2005.

  only 42 percent: Towers Perrin, The 2003 Towers Perrin Talent Report.

  was Tom Peek: Greg Link interview with Tom Peek, March 11, 2006.

  BEHAVIOR #3: CREATE TRANSPARENCY

  Alan Mulally quote: Bryce G. Hoffman, American Icon: Alan Mulally and the Fight to Save Ford Motor Company, (New York: Currency, 2013), p. 62.

  negotiating $1.8 billion: Eve Tahmincioglu, “Back from the Brink,” Workforce Management, December 2004.

  According to BusinessWeek: Wendy Zellner, “What Was Don Carty Thinking?,” BusinessWeek online, April 24, 2003.

  “Some people think”: Richard Wachman, “The man who keeps American in the air,” The Observer, January 29, 2006.

  Jean-Cyril Spinetta quote: Sally Bibb and Jeremy Kourdi, Trust Matters: For Organisational and Personal Success (New York: Palgrave Macmillan, 2004), p. 29.

  “The only way to build”: Tahmincioglu, Workforce Management.

  PwC: Samuel A. DiPiazza Jr. and Robert G. Eccles, Building Public Trust: The Future of Corporate Reporting (New York: John Wiley & Sons, 2002), p. 3.

  process knowledge is expected: Phillip Evans and Bob Wolf, “How Toyota and Linux Keep Collaboration Simple,” Harvard Business School Working Knowledge, August 1, 2005.

  Rollin King quote: Catlette and Hadden, Contented Cows Give Better Milk, p. 99.

  BEHAVIOR #4: RIGHT WRONGS

  Maple Leaf Foods story: “Remarks by Maple Leaf Foods President Michael McCain,” TheStar.com, August 27, 2008; Bob Ewing, “Maple Leaf Foods CEO Business Newsmaker of the Year,” DigitalJournal.com, January 1, 2009.

  James Frey’s book: Carol Memmott, “Winfrey Grills ‘Pieces’ Author, Apologizes for Backing Book,” USA Today, January 27, 2006, p. 1E.

  In his letter, Wead said: Greg Link interview with Doug Wead, June 27, 2006 (letter used with Mead’s approval); also see Doug Wead, “I’m Sorry, Mr. President,” USA Today, March 14, 2005, p. 18A.

  Jon Huntsman quote: Huntsman, Winners Never Cheat, p. 55.

  Martin Shkreli: Zoe Thomas and Tim Swift, “Who Is Martin Shkreli—‘the Most Hated Man in America’?” BBCNews.com, August 4, 2017; Carolyn Y. Johnson, “Pharma Bro Shkreli Stays Silent Before Congress, Calls Lawmakers ‘Imbeciles’ in Tweet,” WashingtonPost.com, February 4, 2016; Colleen Long and Tom Hays, “ ‘Pharma Bro’ Martin Shkreli Cries in Court, Is Sentenced to 7 Years for Securities Fraud,” ChicagoTribune.com, March 9, 2018.

  get sued less: Berkeley Rice, “Why Some Doctors Get Sued More Than Others,” Medical Economics, July 11, 2003. Also, Lindsey Tanner, “Doctors Advised: An Apology a Day Keeps the Lawyer Away,” Associated Press, November 12, 2004.

  BEHAVIOR #5: SHOW LOYALTY

  “It’s all very logical”: John Marchica, The Accountable Organization: Reclaiming Integrity, Restoring Trust (Palo Alto: Davies-Black Publishing, 2004), p. 167.

  “the window and the mirror”: Collins, Good to Great, pp. 33–35.

  Jack Welch quote: Welch, Winning, p. 71.

  author Dottie Gandy: Dottie Gandy, 30 Days to a Happy Employee: How a Simple Program of Acknowledgment Can Build Trust and Loyalty at Work (New York: Fireside, 2001), p. 27.

  article in USA Today: Richard Willing, “Friends say Alito ‘down to earth’ despite success,” USA Today, November 2, 2005, p. 5A.

  BEHAVIOR #6: DELIVER RESULTS

  Dave Ulrich quote: Frances Hesselbein, Marshall Goldsmith, and Richard Beckhard, eds., The Leader of the Future: New Visions, Strategies and Practices for the Next Era (San Francisco: Jossey-Bass, 1996), pp. 212–13.

  Peter Lowe quote: James Watson, “Building the trust in today’s industry,” Computing, October 7, 2004.

  “My perspective on trying”: Ibid.

  J. P. Rangaswami quote: Ibid.

  BEHAVIOR #7: GET BETTER

  Liz Wiseman quote: DisrupTV Episode 0011: Featuring Sharo Wienbar & Liz Wiseman, April 20, 2016.

  Danish company LEGO: Jonathan Ringen, “How Lego Became the Apple of Toys,” FastCompany.com, January 8, 2015; Statista.com.

  Elon Musk: Lance Ulanoff, “Elon Musk: Secrets of a Highly Effective Entrepreneur,” Mashable.com, April 13, 2012.

  A promising junior executive: Warren Bennis and Burt Nanus, Leaders: Strategies for Taking Charge (New York: HarperCollins, 1985), p. 70.

  BEHAVIOR #8: CONFRONT REALITY

  Max DePree quote: Max DePree, Leadership Is an Art (New York: Bantam Doubleday, 1989), p. 11.

  author Kathleen Ryan: Kathleen D. Ryan and Daniel K. Oestreich, Driving Fear out of the Workplace: How to Overcome the Invisible Barriers to Quality, Productivity and Innovation (San Francisco: Jossey-Bass Publishers, 1991), pp. 77–90.

  “You must never confuse”: Collins, Good to Great, p. 85.

  “the Stockdale Paradox”: Collins, Good to Great, p. 86.

  Confront Reality is Cheryl Bachelder: Cheryl Bachelder, Dare to Serve (Oakland, CA: Berrett-Koehler Publishers, 2015); interview with author, December 16, 2016.

  Ed Catmull quote: Ed Catmull with Amy Wallace, Creativity, Inc. (New York: Random House, 2014).

  only 39 percent: Mercer Human Resource Consulting, 2005 What’s Working Survey, New York, 2005.

  Sheryl Sandberg quote: Sheryl Sandberg interview with Liberty Mutual Chief Talent Officer Melanie Foley, April 27, 2017.

  “In confronting the brutal facts”: Collins, Good to Great, p. 81.

  BEHAVIOR #9: CLARIFY EXPECTATIONS

  by up to 40 percent: LogicaCMG and Warwick Business School outsourcing study.

  Dan Jorndt quote: Collins, Good to Great, p. 32.

  Peter Aceto quote: Twitter, @PeterAceto, November 26, 2013.

  study by the AMA/HRI: American Management Association/Human Resource Institute, AMA/HRI Business Ethics Survey 2005, New York, 2006.

  BEHAVIOR #10: PRACTICE ACCOUNTABILITY

  Golin/Harris: Golin/Harris survey, “Trust in American Business,” 2002.

  “culture of accountability”: DiPiazza and Eccles, Building Public Trust, p. 4.

  window and the mirror: Collins, Good to Great, pp. 33–35.

  “For my entire career”: Scott Waddle with Ken Abraham, The Right Thing (Brentwood, TN: Integrity Publishers, 2002), pp. 200–201.

  headline in USA Today: Andrea Stone, “Ex-FEMA chief blames locals,” USA Today, September 28, 2005, p. A1.

  CNN.com’s headline: Ted Barrett, “Brown puts blame on Louisiana officials,” CNN.com, September 28, 2005.

  J. Willard Marriott quote: J. Willard Marriott, “Money, Talent and the Devil by the Tail,” Management Review, January 1985.

  As reported in Fortune: Betsy Morris, “The Accidental CEO,” Fortune, June 23, 2003.

  BEHAVIOR #11: LISTEN FIRST

  Peter Drucker lists eight: Peter Drucker, “What Makes an Effective Executive,” Harvard Business Review, June 2004.

  Charles Cawley quote: Barry, Wisdom for a Young CEO, p. 52.

  Mike Garrett became: Author interviews with Mike Garrett, December 12, 2003, and May 1, 2006.

  Jack M. Greenberg quote: Barry, Wisdom for a Young CEO, p. 56.

  Gary Chapman quote: Gary Chapman, The Five Love Languages: How to Express Heartfelt Commitment to Your Mate (Chicago: Northfield Publishing, 1992), p. 15.

  As Heinrich Pierer: Barry, Wisdom for a Young CEO, p. 76 (miniature edition).

  55 percent body language: Albert Mehrabian, Silent Messages: Implicit Communication of Emotions and Attitudes (Belmont, CA: Wadsworth, 1981); also, Wikipedia.org.

  BEHAVIOR #12: KEEP COMMITMENTS

  Richard Liu Qiangdong: from a FranklinCovey-produced video, Leading with Integrity, 2018.

  John Mackey quote: John Mackey’s Blog, WholeFoodsMarket.com, “Creating the High Trust Organization,” March 2, 2010.

  study on business ethics: AMA/HRI Business
Ethics Survey 2005.

  number one trust breaker: World Economic Forum, “Voice of the People” Survey, 2002, conducted by Gallup International and Environics International.

  Greek words chronos and kairos: Stephen R. Covey, Roger Merrill, and Rebecca Merrill, First Things First: To Live, to Love, to Learn, to Leave a Legacy (New York: Simon & Schuster, 1994), p. 27.

  BEHAVIOR #13: EXTEND TRUST

  “I decided that we”: Patricia Sellers, “Procter & Gamble,” Fortune, February 21, 2005, p. 98.

  $2,000 without approval: Author interview with Horst Schulze, April 26, 2006.

  the retailer Nordstrom: Nordstrom employee handbook.

  Gordon Forward quote: Gordon Forward interview with Fred Luthans, “Conversation with Gordon Forward,” Organizational Dynamics, Vol. 20, No. 1, pp. 63–72.

  the example of Warren Buffett: Patricia Sellers, “How Warren Buffett Manages His Managers,” Fortune, October 12, 2009.

  You have to understand: TGCF panel audio transcription, General Counsel Forum, November 19, 2010.

  Charlie Munger quote: Andrew Ross Sorkin, “Berkshire’s Radical Strategy: Trust,” NYTimes.com, May 5, 2014.

  Robert Galvin Jr. quote: Joseph F. McKenna, “Bob Galvin Predicts Life After Perfection,” Industry Week, January 21, 1991, pp. 12–15.

  THE THIRD WAVE—ORGANIZATIONAL TRUST: THE PRINCIPLE OF ALIGNMENT

  Peter Drucker quote: Peter Drucker, “Managing Oneself,” Harvard Business Review, March-April 1999.

  John O. Whitney quote: Whitney, The Trust Factor, p. 14.

  Kouzes and Posner quote: James M. Kouzes and Barry Z. Posner, The Leadership Challenge (San Francisco: Jossey-Bass, 2003), p. 247.

  CEO David Neeleman: James Wynbrandt, Flying High: How JetBlue Founder and CEO David Neeleman Beats the Competition . . . Even in the World’s Most Turbulent Industry (Hoboken, NJ: John Wiley & Sons, 2004), pp. 207–208. Also, Greg Link interview with Jenny Dirvin, JetBlue corporate communications, June 27, 2006.

  Henk Broeders quote: Robert Galford and Anne Seibold Drapeau, The Trusted Leader: Bringing Out the Best in Your People and Your Company (New York: The Free Press, 2002), p. 242.

  “placed great faith”: David Packard, The HP Way: How Bill Hewlett and I Built Our Company (New York: HarperBusiness, 1995), p. 135; also, Peter Burrows, “Hewlett & Packard: Architects of the Info Age,” Business Week Online, March 29, 2004.

  front of the card reads: Nordstrom, employee handbook.

  According to David Sirota: David Sirota, et al., The Enthusiastic Employee, p. 121.

  French manufacturing company FAVI: from a FranklinCovey-produced video, Propensity to Trust, 2015.

  John Kotter quote: Fast Company, May 2005.

  David Packard quote: Packard, The HP Way, p. 135.

  60 to 80 percent: Paul D. Nielsen, “About Us: From Director and CEO Paul D. Nielsen,” Carnegie Mellon Software Engineering Institute, SEI.CMU.edu.

  the “enemy within”: Lawrence B. Macregor Serven, The End of Office Politics as Usual: A Complete Strategy for Creating a More Productive and Profitable Organization (New York: AMACOM, 2002), pp. 1–10, 36–44.

  96 percent of engaged employees: Ibid.

  as Gallup’s research suggests: Buckingham and Coffman, First, Break All the Rules, p. 33.

  Great Place to Work Institute quote: “The Business Case for a High-Trust Culture,” Great Place to Work 2016.

  Colleen Barrett said: Marchica, The Accountable Organization, pp. 166–67.

  as much as 500 percent!: GartnerG2 survey, “GartnerG2 says Retail Financial Services Companies Must Make Customer Retention No. 1 CRM Priority,” August 8, 2002.

  Association of Certified Fraud Examiners: “Report to the Nations: 2018 Global Study on Occupational Fraud and Abuse,” ACFE 2018.

  Watson Wyatt study: Watson Wyatt, WorkUSA study.

  according to a study: Great Place to Work Institute and Russell Investment Group study of Fortune’s “100 Best Companies to Work For,” March 15, 2005.

  “Employees treasure the freedom: Geoff Colvin, Fortune, “The 100 Best Companies to Work For 2006,” January 11, 2006.

  a 2015 study: “Building Workplace Trust 2014/15,” Interaction Associates.

  CEO John Brennan: Fred Reichheld, Loyalty Rules: How Today’s Leaders Build Lasting Relationships (Boston: Harvard Business School Press, 2001), p. 29.

  Apple CEO Tim Cook: Verne G. Kopytoff and David Streitfeld, “Big Shoes at Apple, but Maybe Not Unfillable,” NYTimes.com, August 25, 2011.

  Jeff Bezos quote: Jeff Bezos Letter to Shareholders, 2015, Amazon.com.

  The How Report study: “The How Report: A Global, Empirical Analysis of How Governance, Culture and Leadership Impact Performance,” LRN, 2016.

  “We found that contracts”: LogicaCMG/Warwick Business School study.

  The best partnerships: Rodd Wagner and Gale Muller, The Power of Two (New York: Gallup Press, 2009), p. 77–78.

  95% of the time: Karl Moore, “Strategy Without Execution Is Hallucination!” Forbes.com, May 31, 2012.

  Strategy+Business magazine readers: Art Kleiner, “Our 10 Most Enduring Ideas,” strategy+business, December 12, 2005.

  In a study: FranklinCovey/Coca-Cola Retail Research Council study, 2006.

  High trust companies elicit: Reichheld, Loyalty Rules; and Frederick F. Reichheld, The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value (Boston: Harvard Business School Press, 1996).

  Dr. Larry Ponemon: Privacy Trust Survey for Online Banking, Watchfire Inc. and the Ponemon Institute, 2005.

  Jim Burke quote: James Burke, Harvard Business School Working Knowledge, October 27, 2003.

  THE FOURTH WAVE—MARKET TRUST: THE PRINCIPLE OF REPUTATION

  “building trust worldwide”: Al Golin, Trust or Consequences: Build Trust Today or Lose Your Market Tomorrow (New York: AMACOM, 2004), p. vii.

  Robert Eckert quote: Eckert commencement speech to UCLA, 2004.

  Seth Godin quote: Seth Godin, Permission Marketing: Turning Strangers into Friends and Friends into Customers (New York: Simon & Schuster, 1999) p. 91.

  “I respect him”: Del Jones, “Buffett maintains respect of fellow CEOs,” USA Today, March 30, 2005, p. B2.

  Most Admired Companies: Anne Fisher, “Most Admired Companies,” Fortune, March 6, 2006, pp. 65–124; see Fortune.com website for global companies.

  Korn Ferry research: Korn Ferry Institute, “The World’s Most Admired Companies 2018,” KornFerry.com, January 22, 2018.

  Golin/Harris Poll: Golin/Harris study, “Trust in American Business,” 2003.

  Edelman Trust Barometer: Edelman, Annual Edelman Trust Barometer, 2006, www.edelman.com.

  Hank Paulson quote: Gostick and Telford, The Integrity Advantage, p. 54.

  Reputation Quotient 2018 study: “The Reputations of the Most Visible Companies,” TheHarrisPoll.com.

  Ellen Ryan Mardiks quote: Golin/Harris press release, AME Info, April 27, 2003.

  “Would you recommend”: adapted from Frederick Reichheld, The Ultimate Question: Driving Good Profits and True Growth (Boston: Harvard Business School Press, 2006), p. 28.

  Domino’s Pizza: James F. Peltz, “Domino’s Pizza Stock Is Up 5,000% Since 2008. Here’s Why,” LATimes.com, May 15, 2017.

  VMI (Vendor Managed Inventory): from a Barry Rellaford interview with Carl Hall of Datalliance, April 2018.

  St. Jude Children’s Research Hospital: About Us, stjude.org.

  Roberto Goizueta quote: Robert Goizueta, Network News, a Publication of the Coca-Cola Company, April 1997.

  THE FIFTH WAVE—SOCIETAL TRUST: THE PRINCIPLE OF CONTRIBUTION

  late April of 1992: Golin, Trust or Consequences, pp. 15–16; also, Richard Martin, “Thugs Maul LA Restaurants,” Nation’s Restaurant News, May 11, 1992.

  Thomas Friedman quote: Friedman, The World Is Flat, p. 394.

  “Persons of the Year:” Nancy Gibbs, “The Good Samaritans,” Time, December 26, 2005.

  Warren Buf
fett announced: Elliot Blair Smith, “Buffett pledges $37.1B to charity,” USA Today, June 26, 2006, p. 1A.

  in excess of $500 million: Newmansown.com.

  The Skoll Foundation: About Skoll, Skoll.org.

  Debra Dunn quote: Christine Canabou, “Fast Talk: Hail, global citizens!,” Fast Company, January 2004.

  Grameen Bank in Bangladesh: “UN Declares 2005 the International Year of Microcredit,” Globalization101.org, August 22, 2005.

  can trust complete strangers: “eBay’s Founder Starts Giving,” Fortune, November 28, 2005, p. 49.

  Call me: from a FranklinCovey-produced video, Ripple Effect, 2015.

  Alan Greenspan quote: Testimony of Alan Greenspan before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, July 16, 2002.

  Paul Dolan, CEO: Paul Dolan, True to Our Roots: Fomenting a Business Revolution (Princeton, NJ: Bloomberg Press, 2003), p. 62; also, John Elkington, Cannibals with Forks: The Triple Bottom Line of the 21st Century Business (Stony Creek, CT: New Society Publishers, 1988).

  “The evolution of capitalism”: James Surowiecki, “A Virtuous Cycle,” Forbes, December 23, 2002.

  Patricia Aburdene: Patricia Aburdene, Megatrends 2010: The Rise of Conscious Capitalism (Charlottesville, VA: Hampton Roads Publishing Company, 2005), p. 36.

  six of the seven: Ibid.

  Tachi Kiuchi quote: Canabou, Fast Company, January 2004.

  branded as socially irresponsible: Mercer Investment Consulting Survey, “Survey: Majority of Investment Managers Link Corporate Responsibility to Asset Performance,” GreenBiz.com, March 17, 2006.

 

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