University of Minnesota - UMN Executive Leadership Insights
Smart Trust
Book

Smart Trust

Creating Prosperity, Energy, and Joy in a Low-Trust World

Stephen M.R. Covey, Greg Link and Rebecca R. Merrill
Free Press, 2012
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Editorial Rating

8

Qualities

  • Applicable

Recommendation

The Maghribi traders had the right idea: To capitalize on lucrative business opportunities amid the chaotic political and social climate of the Middle East in the 10th century, these merchants formed an economic system that spanned miles, cultures, and governments – all based on handshakes. Leadership experts Stephen M.R. Covey and Greg Link (working with writer Rebecca Merrill) offer the story of the Maghribis to set the stage for their innovative “Smart Trust” strategy, which helps people create, maintain and leverage high-trust relationships and business environments in today’s “low-trust world.” They explore why people trust and why they don’t, why some people adopt the wrong kinds of trust, and how trust shapes your perceptions. In this well-researched, logically organized presentation, the authors draw from their experiences and those of numerous firms and individuals to show how trust can raise your “prosperity, energy and joy.” getAbstract believes this inspiring work could motivate you to take “the lead in extending trust” to enhance your professional and personal relationships – and you can trust us on that.

Summary

The Loss of Trust

Individuals and organizations worldwide struggle with issues of trust. Some can establish, build and maintain high levels of trust. However, many cannot and, thus, perpetuate negative cycles of low trust and active distrust.

You need only follow the news to see widespread corruption, misbehavior, scandal and fraud. A quantifiable “global crisis of trust” is engulfing and eroding institutions, professional relationships and personal lives with deleterious effects on social and economic well-being. High-trust relationships and cultures result not only in greater “prosperity” but – even more inspiring – increased levels of “energy” and “joy”:

  1. Prosperity – Trustworthiness has a direct correlation with prosperity. Capitalism and profitability require trust. High-trust companies enjoy “trust dividends” because when trust increases, speed increases and costs decrease. Conversely, low-trust companies experience low-trust taxes. These taxes manifest as: “redundancy, bureaucracy, politics, disengagement, turnover, churn and fraud.” These penalties mean not only that others may see you as untrustworthy, but also that you may distrust others...

About the Authors

Stephen M. R. Covey is a speaker and adviser on trust, leadership, ethics, sales and high performance. He is the New York Times and #1 Wall Street Journal best-selling author of The Speed of Trust. Greg Link is an executive confidant, adviser and compelling speaker in the areas of trust, leadership, sales, marketing and high performance. See SmartTrustBook.com for related self-surveys and resources.

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