Hey gang! Here we go! Here are some ideas to refresh you on these opening pages. You can comment on what is here or contribute any reflection or reaction to what you have read so far. Be sure to offer a comment and then offer a response to someone else's comment.
Covey's opening thesis:
"There is one thing that is common to every individual, relationship, team, family, organization, nation, economy and civilization throughout the world - on thing which, if removed, will destroy the most powerful government, the most successful business, the most thriving economy, the most influential leadership, the greatest friendship, the strongest character, the deepest love."
"On the other hand, if developed and leveraged, that one thing has the potential to crate unparalleled success and prosperity in every dimension of life. Yet it is the least understood, most neglected, and most underestimated possibility of our time."
"That one thing is trust."
Covey goes on to say:
"Contrary to what most people believe, trust is not some soft, illusive quality that you either have or you don't; rather, trust is a pragmatic, tangible, actionable asset that you can create - much faster than you probably think possible... it is the key leadership competency of the new global economy."
In the opening pages, Covey defines 'trust' simply as 'confidence' (compared to its opposite: suspicion). "The difference between a high-trust and a low-trust relationship is palpable" just by thinking about those whom you trust and those whom you don't.
REFLECT on any of these ideas:
What are your knee jerk thoughts on the role of trust in relationships - at work, at home, among strangers working side by side in society?
According to a recent study by British sociologist David Halpern, only 34% of Americans believe others can be trusted. Do we have a trust crisis on our hands? (p. 10) What are its ramifications?
Do you agree that we project the behavior of the few upon the many? How does suspicion effect the way we show up in teams? (ref. p. 13)
Can you think of some additional examples of Covey's formula : (p. 13)
When Trust goes DOWN = Cost goes UP, Speed goes DOWN
When Trust goes UP = Cost goes DOWN, Speed goes UP
REACT to any of the following statements:
* "Do you trust your boss?" Companies have learned that the answer to this one question is more predictive of team and organizational performance than any other question they might ask. (p. 17)
* "High-trust individuals are more likely to be promoted, make more money, receive the best opportunities, and have more fulfilling and joyful relationships." (p. 21)
* Robert Shaw suggests that success in business requires two things:
A) a winning competitive strategy
B) superb organizational execution
Covey says that trust impacts both of these. (p. 20)
There are 8 Trust Myths - react to any one of these (p. 25)
1) Trust is soft.
2) Trust is slow.
3) Trust is built solely on integrity.
4) You either have trust or you don't.
5) Once lost, trust cannot be restored.
6) You can't teach trust.
7) Trusting people is too risky.
8) Trust is established one person at a time.
Alright, let the comments fly!
I think for me, the idea that really hit home in chapter 1 was regarding transparency. Even though I may be in IT, I have vested interest in the success of the company as a whole, not just the success of my department.
ReplyDeleteWe have a Tech committee that includes people from all parts of the company, I feel that other parts of the company can benefit from having similar type groups. Sometimes you need an outside view to see what is happening within your own group. I think this will help to foster trust between the departments, and also help to work together as unit rather than us and them.
In regards the the trust/cost formulas, I total agree that if trust goes down, then costs go up. If we do not empower people to make decisions, right or wrong, then we are encouraging people to pass responsibility and delay the decision making process. People will learn from their mistakes with guidance from others, but if they are afraid to make decisions how will they learn. We need to applaud initiative, with constructive guidance if the outcome is not what was expected.
Good thought about the benefit of having perspective from other parts of the company. This would probably be enlightening for all of us and help us to build trust within and across EBCO.
DeleteLet's try again...The comment on pg. 13 "we judge ourselves by our intentions and others by their behavior" blew me away. It really open my eyes...
ReplyDeleteCrazy that we generally all do this, right? It is called Fundamental Attribution Error and we discussed it briefly in ELI. Here is an article from Psychology Today on "why we don't give one another a break"
Deletehttps://www.psychologytoday.com/blog/real-men-dont-write-blogs/201406/why-we-dont-give-each-other-break
This is so true! If I see someone driving like a maniac I wonder, is he headed to an emergency or is he just a terrible driver? If I recognized the driver, my determination would be based on my level of trust: If it's someone I trust, I would assume there's an emergency, if there's no/little trust, I'd be more likely to assume he's a terrible driver.
DeleteThis was a big takeaway for me too. I know I am guilty of this quite a bit and when I do realize it, I make myself rethink the situation - and most of the time I 'give the person a break'. It's part of that perception is reality idea. We need to change our perceptions and not judge other people.
DeleteTitle of chapter says "Nothing is as fast as the speed of trust." Other chapter quotes include "Speed happens when people truly trust each other." "Mistrust double the cost of doing business." So trust is vital to be world class and to serve our clients.
ReplyDeleteSo how do you get trust? The book says it is "a function of character (which includes integrity) and competence. In a work setting, if I am of poor character but can really make things happen I will not be trusted. Or if I am of highest character but I am a "poser" and not competent, I also will not be trusted.
I need to be of high character and competent in order to build trust with others so that we can collectively enjoy the benefits (speed) and all that go with that. Character is not enough which is a new thought to me. Competence is also a requirement. Competence brings respect from others on the team and my competence helps the team accomplish their goals. very important
That was a fresh thought to me, too, John - it takes more than character. You gotta know what you're doing and show results. Perhaps we are asking ourselves internally, "Does this person know what they're doing AND will they conduct themselves with (kindness, grace, patience, integrity, humility) in the process of being an awesome executer..."?
DeleteTrying this again....
DeleteBuilding on John's comment about Competence. As Jodi mentioned in her intro, one of Moog's core values was centered around "Trust" as in "Trust is a Must". Another core value referenced Competence, as in "Competence is King".
This basically incorporated 3 thoughts -
1. You must be good at what you do. If you didn't know, you were encouraged to seek help without recrimination;
2. Demonstrated competence was the foundation for mutual trust and respect
3. Respect was gained through demonstrated competence.
I am glad you explained this more, Bill. I am curious (and encouraged) about #1 - did they support training and development based on specific employee needs? If that is the case, I am impressed with that level of importance and attention and organization they built around their employee development philosophy.
DeleteWell said, not only is competence a key ingredient in trust, but is also a great learning tool. People can learn from competent people, not so much from an incompetent person.
ReplyDeleteI disagree. I think you can learn from incompetence. Specifically, the results of incompetence can teach you what NOT to do.
DeleteSpeaking of slowing things down! (the trust formula) How much longer does it take to try to learn by process of elimination (what NOT to do) than from someone who is adept/skilled, can also teach, models, follows up, sets new stretch goals and gets you across the finish line...
DeleteI think people generally try to predict the behaviors of others based on past experience. If we see traits in someone we just met - positive or negative - that remind us of someone else, we project that level of trust to the new person. From there, each interaction either builds or degrades the trust.
ReplyDeleteIn my opinion, trust is slow to build, quickly damaged, and difficult (but possible) to rebuild. It takes several acts to build trust equity and only one act to create a trust liability. That being said, I feel trust too severely damaged, or too frequently undermined, cannot be restored.
I believe all relationships are based on trust. The higher the trust, the better the results. And I agree that higher trust = lower costs and quicker results; not just company to company but dept to dept, boss to employee, person to person. Distrust between companies can result in slower progress or lost opportunities. Distrust between depts can cause duplicate efforts or info withheld. If employees don't trust their boss, or feel distrusted, they aren't as responsive to requests or they may feel the company "owes" them; both lead to higher company costs. Person to person - well ask anyone who's been divorced how costs go up when trust goes down.
This is a great read. I like the concept that starts on page 19 of the trust dividend. Trust is either a multiplier (dividend) that increases results or a like a tax. My focus for the company is execution - it is eye opening to think that trust either takes this to the next level or lack of trust holds it down.
ReplyDeleteOne of EBCO's Core Values is "Treat each other with respect". I've always enjoyed that one. If we take it deeper, we get to Trust. I like the following that I had found a while ago:
ReplyDeleteTrust and respect are two different words that often go hand-in-hand. For a person to trust someone you need to respect them, while respecting someone also demands for trusting them. The second statement isn’t always true as many you can look to up to many people but not trust them.
I also see the connection between respect and trust, Bill. I often get fuzzy when thinking about truly respecting someone versus treating them with respect (out of duty, character, social norm).
DeleteMy biggest takeaway from the chapter was about empowering people to make the right decisions for your organization because you trust them and believe they will do what's best for the organization. I'm not sure we do a good job of this internally (within EBCO) or externally (with our subs). This has me thinking about some changes we can make in the accounting department.
ReplyDeleteDenice, thanks for your comments. If there is any great idea you can share with the group (however small), please do.
Delete
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