Don't mistake this Covey with his father, author of the "7 Habits" series. He is his own person, and has written a book that could revolutionize our view of trust in organizations. I highly recommend this book; it is deep and thorough and not to be read in a few evenings. The information and wisdom it possesses should be savored, pondered, and integrated slowly for the greatest impact. When corporate scandals, terrorist threats, and betrayal by our leaders have created low trust on nearly every front, Covey maintains that the ability to establish, grow, extend, and restore trust with all stakeholders is the key leadership competency of the new global economy.
Trust is defined as having confidence. When you trust people, you have confidence in them - in their integrity and their abilities. When you distrust people, you are suspicious of them. Covey cites a study showing that total return to shareholders in high-trust organizations is almost three times higher than the return in low-trust organizations. On a personal level, high-trust individuals are more likely to be promoted, make more money, receive the best opportunities, and have more fulfilling and joyful relationships.