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Dr Covey says:
"Trust is one of the greatest casualties of the recent debacle in financial systems. Without trust, there are no markets and no customers. Businesses need to understand the importance of building and maintaining trust with their customers that's what we will discuss in details during these conferences."
According to a recent poll conducted by Franklin Covey Middle East, nearly three quarters (72%) of regional business leaders believe that building trust is the main challenge they need to overcome in order to achieve business success.
The survey also revealed that more business leaders see the lack of trust as a barrier they need to overcome than improving staff productivity and performance (47%) and customer loyalty (44%).
Dr Covey explains, "Low trust is the greatest cost in life and in organizations. It creates hidden agendas, politics, interpersonal conflict, interdepartmental rivalries, win-lose thinking, defensive and protective communication. Low trust slows everything - every decision, every communication, and every relationship."
Acknowledging that building trust is a challenge is a step in the right direction, but how do business leaders across the region go about overcoming this? How can a company create a culture of trust at all levels of an organisation?
According to MR Covey, business leaders need to adopt certain practices that lead to a healthier working environment - where trust is the core element. "Business leaders should have the ability to demonstrate real respect to employees without being concerned that this is a sign of weakness and undermines their leadership status. Listening is the simplest and most effective way to achieve this."
Developing trust is also based on the delivery of results. Once people understand their goals and are committed to achieving them, a business leader should hold himself and every member of the team accountable for the agreed results.
"The leaders' job is not accomplished through setting the goal but rather through providing support to the team and sharing responsibility of end results. This approach is valued by the employees and maintains momentum in the trust-building exercise," MR Covey concludes.
The Covey conferences, which are organised by Leaders Presents, the leading event management company, will take place on 18th of April 2009 at the InterContinetal Hotel in Riyadh and on 20th of April 2009 at the Jumeirah Beach Hotel in Dubai.
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Posted by Siba Sami Ammari
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