Harnessing the strategic power of trust

Abstract

Purpose

The purpose of this paper is to highlight the positive strategic impact of building high levels of trust within organizations as a means of engaging employees, generating growth and meeting objectives. Further aims of the paper are to show the negative effect of low levels of trust and to provide tips to help leaders raise trust levels within teams and organizations.

Design/methodology/approach

The objectives are achieved by highlighting FranklinCovey's extensive research and experience in working worldwide to help organizations build trust. A key reference was the best‐selling book The Speed of Trust by FranklinCovey's authority on trust, Stephen M.R. Covey. The paper was structured around key elements of Stephen's book, including the five waves of trust model which shows the different levels of trust and their inter‐dependence. It also covers the four cores of trust – integrity, intent, capability and results – which can raise credibility and build personal trust.

Findings

The paper shows the strategic importance of building trust levels within an organization. It also succeeds in highlighting how increased levels of trust help to remove obstacles to growth and progress.

Originality/value

The value of the paper is in its specific strategic focus and it will appeal to anyone with an interest in organizational performance and how this can be maximized.

Citation

Vaughan‐Smith, K. (2013), "Harnessing the strategic power of trust", Strategic Direction, Vol. 29 No. 5, pp. 3-5. https://doi.org/10.1108/02580541311316514