DOHA: The ability of establishing and restoring trust with stakeholders is the most critical leadership competency of the new global economy, said Stephen M R Covey, the bestselling author (The New York Times and Wall Street Journal) of ‘THE SPEED OF TRUST: The One Thing That Changes Everything’, during an event hosted by Qatar Fuel Additives Company (QAFAC).
Covey’s groundbreaking book challenges our age-old assumption that trust is merely a soft, social virtue and instead demonstrates that trust is a hard-edged, economic driver — a learnable and measurable skill that makes organisations more profitable, people more promotable, and relationships more energising.
“Trusting people in this type of environment is indeed risky,” said Covey. “But even in a historically low-trust marketplace, there are still people and organisations in both the public and private sector that are trusted and are enjoying significant success. High-trust organisations return three times the total return to shareholders than organisations with low trust. And, high-trust schools are four times more likely to raise test scores than low-trust schools. Trusted organisations will continue to have a strong competitive edge, a growing market share, and the continued loyalty of their employees, customers, and constituents.”
He advocated that nothing is as fast as the speed of trust and that the ability to establish, grow, extend, and restore trust with all stakeholders is the critical leadership competency of the new global economy. He passionately delivers that message and is dedicated to enabling individuals and organisations to reap the dividends of high trust. Audiences and organisations alike resonate with his informed, practical approach to real-time issues that affect their immediate and long-term performance.
His presentation advocated the return of trust in organisations, extending beyond the dialogue on trust as a soft, social virtue. He gave attendees a greater vision of trust as a measurable, strategic advantage as well as share the behaviours and tools common to all high-trust leaders around the world. He taught how to extend “Smart Trust”, even in environments where risk exists.
Covey is a sought-after advisor and keynote speaker on trust, leadership, ethics, and high performance and has presented at leading conferences in 40 countries, receiving high marks for his style, substance, and the relevance of his insights on trust.
He is the former CEO of Covey Leadership Centre, which, under his stewardship, became the largest leadership-development company in the world. The Peninsula
