'Trust is the key to success', claim leading entrepreneurs

FranklinCovey, on Friday, conducted an event for leaders and entrepreneurs on developing their execution capabilities with trust as its driving force.

The event was led by globally recognised best-selling authors Stephen M.R. Covey, who wrote The Speed of Trust: The One Thing that Changes Everything, and Chris McChesney, the author of The 4 Disciplines of Execution: Grab Hold of Performance.

Both shared their insights on what all constitutes execution and why it is such a critical issue in organisations today.

Stephen M. R. Covey
Chris Mc Chesney

Entrepreneurs: Authors Stephen M.R. Covey (left) and Chris McChesney (right) discussed their mantras for success

In today's time, when organisations are driven by results, the entrepreneurs and institutions can go to any lengths to achieve success.

Success in business requires two things: a winning competitive strategy and an excellent organisational execution.

But during the sessions, the importance of trust as the formula for execution success was talked about at length.

The sessions focused on how strategy, execution and trust can give results which work for employee engagement and executing strategy with excellence.

Talking about his message, Covey quoted Gandhi.

"Like Gandhi said, 'Let us become the change we seek in this world', we can put it this way, 'Let us create the trust we seek in this world'," he said.

The author has been to 40 countries but feels a special connect with India. Both the speakers talked about how trust is the "hidden variable" in the formula for execution success.

Low trust discounts performance and high trust multiplies it.

"When trust goes down, speed and efficiency go down and cost goes up; when trust goes up, both speed and efficiency go up and the cost goes down."

He feels that in leadership, trust brings creativity, happiness, a measure of satisfaction, and high energy," Covey exclaimed.

In his session, McChesney talked about how every goal is also a metric.

He said: "There is never a lag without a lead."

FranklinCovey is a global company specialising in performance improvement. They help organisations achieve results that require a change in human behaviour.

They are experts of leadership, execution, productivity, trust, sales performance, customer loyalty and education.

They help develop highly effective leaders who engage others to achieve results. The Junior Executive Chairman of Marriott International Inc - JW Marriott is among FranklinCovey's clients - said: "By utilising these processes inside our organisation, our leaders and teams have been able to set and achieve extraordinary goals.

"Any organisation can create the same kind of breakthrough results if they apply the principles and processes..."