Trust is the foundation upon which successful organizations are built from "summary" of The Speed of Trust by Stephen M. R. Covey
Trust is not some soft, social virtue that is nice to have. It is a hard-edged economic driver. It is the primary currency upon which all relationships and organizational success depend. In the absence of trust, all relationships break down. This breakdown increases costs and slows down the speed at which organizations can operate. On the other hand, high trust levels lead to increased speed and reduced costs. Trust is indeed the new currency of the global economy. Trust is not just a nice-to-have, but a must-have for organizations looking to thrive and succeed in today's fast-paced, competitive environment. Without trust, organizations struggle to maintain strong relationships with their employees, customers, and partners. This lack of trust leads to increased bureaucracy, lower productivity, higher costs, and slower decision-making processes. In contrast, organizations with high levels of trust experience greater innovation, collaboration, and efficiency. Trust is the foundation upon which successful organizations are built. It is like the air we breathe - essential for life and growth. Without trust, organizations cannot attract and retain top talent, build strong partnerships, or create a loyal customer base. Trust is the glue that holds organizations together, enabling them to weather storms, overcome challenges, and seize op...
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