Practical Coach: Management Skills for Everyday Life, The

Chapter Summary

Trust in organizations is a source of competitive advantage. A high-quality network of internal and external relationships that are built on trust provides economic value to the organization, takes a long time to develop, and cannot be easily copied by other organizations.

Managers who are able to inspire trust tend to be more effective, have stronger networks, and get promoted more often than those who do not inspire trust. They are better able to attract and retain followers, promote loyalty and a sense of belonging, build support for their goals, develop more productive employees, focus on value-added work rather than costly employee control systems, enhance communication, reduce conflict, reduce the costs of negotiation, inspire ...