The Speed of Trust

Summary

The book «The Speed of Trust» by Stephen Covey explores the importance of trust in personal and professional relationships. The author argues that trust is a key factor influencing the speed and efficiency of interactions. Covey introduces the concept of the «economics of trust,» where a high level of trust leads to reduced costs and accelerated processes, while low trust increases costs and slows progress. He identifies five waves of trust: self-trust, relationship trust, organizational trust, market trust, and societal trust. Each of these waves requires the development of specific skills and behaviors. Covey also offers 13 behavioral principles that help build and maintain trust, such as honesty, transparency, loyalty, and accountability. The book emphasizes that trust can be measured, developed, and restored, and that it is a crucial competitive advantage in today's world.