The Speed Of Trust: The One Thing that Changes Everything

Covey explains that this section involves applying the four cores and 13 behaviors to organizations with the goal of reducing costs, improving efficiency, etc. The third wave concerns “internal stakeholders” and focuses on aligning principles. The fourth concerns “external stakeholders” and focuses on reputation. The fifth concerns society at large and focuses on contribution.

Covey encourages readers to conceive of their “organization” in the way that makes the most sense for them; for a CEO, everyone who works at the company might be an internal stakeholder, whereas a mid-level manager might consider their organization the department rather than the company. However, Covey also contends that there is value in later revisiting this chapter from a more global perspective.

Covey postulates that trust levels within an organization are reflected in its behavior and outcomes. While low-trust organizations are marked by manipulative behavior, tension, and stifled innovation, high-trust organizations encourage transparency, collaboration, innovation, and accountability. Covey posits that the misalignment of principles at individual and organizational levels often leads to reduced trust, emphasizing the role of systems, structures, and policies as powerful influencers of trust.

Covey highlights various instances of trust-building symbolic actions. The open-access policy of Hewlett-Packard, Nordstrom’s single-card employee handbook, and the transparent office setup of Dell Inc.