Experts agree we have entered a “Collaborative Economy.” Those who are trusted and collaborative are also more likely to get promoted and win the best projects. Executives and their teams must master the ability to develop, extend, and restore trust with all stakeholders. As Stephen M. R. Covey puts it: “Without trust, you may be able to coordinate, you may even be able to cooperate, but to truly collaborate with team members, customers, suppliers, and other stakeholders, you must have trust.”
Collaborate with Effective TeamworkMany if not all functions require internal collaboration in order to achieve the organization's most important goals. As an example, an Innovation/R&D group can decrease product-to-market time through intentional and increased trust. Mere coordination and cooperation aren’t enough to facilitate a good decision-making process – it requires true collaboration. Without a foundation of trust, not even skilled communicators can get to real collaboration.
What would be the impact on your organization with increased collaboration between key stakeholder groups?
High trust environments foster the collaboration and teamwork required for success in the new global economy. Different than the traditional approaches of coordination and cooperation, real collaboration creates the key opportunity model of today’s world. In the words of business consultant Dr. Michael Hammer, “Re-engineering was just a warm-up act for the collaborative economy.” And this collaboration isn’t just internal to an organization—it’s also with external customers and suppliers. Forbes highlighted this “collaboration as opportunity” trend, pointing out what they call the “bedrock” of collaboration: trust. Without trust, collaboration is merely cooperation, which fails to achieve the benefits and possibilities available to true collaborators in the knowledge worker age.
Regardless of your what your current strategic imperatives are, we assert that growing trust and collaboration will accelerate your success.
According to a Gallup survey, the best partnerships are almost all characterized by mutual trust, while in poor partnerships, less than 3% strongly agree that they trust each other. In most situations mutual interest is not enough to override mutual distrust.
“We now move through decisions that are normally enormously complex, and we do it at breakneck speed. When you trust each other, there is no need for extra bureaucracy. It allows you to reduce layers of management and move directly to decisions quickly. I’ve been through every training program you could imagine. The Speed of Trust™ is the best program I have seen—it’s not a training program, it’s a process of managing. And it’s the only program that spans all functions. I think it’s a natural way to run an organization.” –Al Carey, CEO of Frito Lay
How Does The Speed of Trust™ Work?
Let's get real. Training alone doesn’t work. Rather than just teaching principles in a course, The Speed of Trust Transformation Process™ institutionalizes new language and new behavior in the context of real work. Learn More
The Economic Business Case for Trust
Trust always affects two measurable outcomes – speed and cost. When
trust goes down, speed goes down and cost goes up. This creates a
Trust Tax™. When trust goes up, speed goes up and cost goes down. This
creates a Trust Dividend™. It’s that simple, that predictable. Learn More