Trust Matters: For Organisational and Personal Success by Sally Bibb, Jeremy Kourdi PDF

By Sally Bibb, Jeremy Kourdi

ISBN-10: 0230508332

ISBN-13: 9780230508330

ISBN-10: 1403932530

ISBN-13: 9781403932532

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Extra resources for Trust Matters: For Organisational and Personal Success

Sample text

The consequences, however, can be fatal. Enron and Worldcom both suffered grievously from some of these techniques, and the bodies supposed to police corporate governance, notably regulators and accounting firms, have suffered by implication. It may be going too far to say that the corporate governance problems that emerged in the period between 2001 and 2003 hastened economic stagnation, but they certainly did nothing to encourage confidence in stock markets. The lessons of losing trust The way that trust is lost has massive implications for the actions we need to take to rebuild it.

Second, formal rules will Trust is a common never be enough. The spirit of an agreement, currency, universally a positive desire to work in good faith to achieve desired outcomes, is often as imporunderstood and tant to success as the letter of the law. Given valued. humanity’s immense ingenuity, there will always be ways of circumventing formal rules, so they should not be relied on in isolation. After all, even the most basic laws only succeed because they have the cooperation of the people. Third, building trust can provide an effective source of strength and, if done better than one’s competitors or more than is expected, a potent source of competitive advantage.

Also, people move jobs for many reasons but two predominate: remuneration is one; but more significant are issues of personal, organisational and strategic 18 The power of trust trust. People leaving organisations for reasons other than remuneration, career change or personal factors often depart for one of three reasons: • • • They do not trust the organisation’s goals, strategies and approach. The business formulae or ‘ends’ are seen as flawed. They do not trust the way that things are being done, believing the processes and ‘means’ are weak or undesirable.

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Trust Matters: For Organisational and Personal Success by Sally Bibb, Jeremy Kourdi


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