MAKATI - Leadership guru Stephen M.R. Covey said trust is the new business currency and is an economic priority that drives efficiency and financial results that lead to success in business.
“Trust is an economic priority, not merely a social virtue, and you can put an economic value on it,” said Covey in the ABS-CBN News Channel’s “Leading with Trust, A Session with Stephen M.R. Covey” workshop on June 19 at the Dusit Thani Hotel in Makati City.
According to Covey, trust can be an economic driver and not just a social virtue
Covey, a Harvard MBA holder, best-selling author, and CEO of the Covey Leadership Center urged Filipino and Philippine-based business executives, government leaders, corporate leaders, and Human Resources professionals to learn the “economies of trust” in order to achieve success in different aspects of business.
When trust is low, said Covey, companies pay a “trust tax” because speed and efficiency goes down and cost goes up. On the other hand, when trust is high, companies get “trust dividends” because speed goes up—everything will happen faster and cost will go down.
Covey praised Karen Davila for being a great interviewer during their one-on-one talk which will air soon on ANC
The New York Times and Wall Street Journal best-selling author of the book “The Speed of Trust” also stressed the role both leaders and employees play in building a high-trust environment and achieving results.
“If we don’t trust people, how will we engage them?” asked Covey. “There is a reciprocity of trust and distrust. Trust is contagious; so is distrust. When we give our trust, people not only return it but are inspired by it. They rise to the occasion. They perform better and it brings out the best in them.”
He advised the attendees to learn and practice “smart trust,” and adapt a high propensity for doing so to inspire innovation, creativity, and reciprocity, which eventually leads to “trust dividends” or financial gains. To complete the session, he led the participants in an interactive workshop that gave them a trust-building framework to work on for their respective organizations.
ABS-CBN Integrated News head and ANC managing director Ging Reyes said Covey’s talk is very useful and relevant for organizations in this age of “disruption, negativity, doubt, and distrust.”
Guests have their copies of The Speed of Trust signed by bestselling author Stephen M.R. Covey
“It’s important to build a culture of trust in organizations whether you are in the private sector, in media, in government, or even if you are just a small team. It’s important to remember how character and behavior help in the building of trust and in making sure that members of your team are on the same page,” she explained.
Karen Davila returns as moderator after the 2017 ANC Leadership Series with Madeleine Albright
The event was moderated by “Headstart with Karen Davila” anchor Karen Davila, who previously moderated the 2017 ANC Leadership Series Forum on Global Governance & World Economy with Dr. Madeleine Albright, the first female U.S. Secretary of State.
Stephen M.R. Covey is the fourth international speaker brought to the Philippines by ANC, the country’s premier 24/7 all-English cable news channel, in the past three years. Early this year, ANC also brought in Peter Guber, the executive chairman and co-owner of reigning NBA champion Golden State Warriors and chairman and CEO of Mandalay Entertainment Group, while Virgin Group founder Richard Branson was the inaugural speaker of the ANC Leadership Series in 2016.
Hundreds of business leaders, policy makers, and industry movers listen and learn about leading with trust from Stephen M.R. Covey
“ANC Presents: Leading with Trust, A Session with Stephen M.R. Covey” is part of the country’s premier all-English cable news channel efforts to raise the level of discourse on global affairs and business issues in the country by bringing globally-respected thought leaders for a one-day speaking engagement.
This is the second time ANC brought a world-renowned speaker to the Philippines in 2018 as part of its efforts to raise the level of discourse in the country
For news and information, watch ANC, your news channel, your partner on cable. Watch ANC in high definition on cable on ANC HD. You may also visit news.abs-cbn.com/anc or follow @ANCalerts on Facebook and Twitter. For updates, follow @abscbnpr on Facebook, Twitter, and Instagram.
About ABS-CBN Corporation
ABS-CBN Corporation is the Philippines’ leading media and entertainment organization. The Company is primarily involved in television and radio broadcasting, as well as in the production of television and radio programming for domestic and international audiences and other related businesses. ABS-CBN produces a wide variety of engaging world-class entertainment programs in multiple genres and balanced, credible news programs that are aired on free-to-air television. The company is also one of the leading radio broadcasters, operating eighteen radio stations throughout the key cities of the Philippines. ABS-CBN provides news and entertainment programming for eight channels on cable TV and operates the country’s largest cable TV service provider. The Company also owns the leading cinema and music production and distribution outfits in the country. It brings its content to worldwide audiences via cable, satellite, online and mobile. In addition, ABS-CBN has business interests in merchandising and licensing, mobile and online multimedia services, glossy magazine publishing, video and audio post production, overseas telecommunication services, money remittance, cargo forwarding, TV shopping services, theme park development and management, property management and food and restaurant services, and cinema management, all of which complement and enhance the Company’s strength in content production and distribution. The Company is also the first TV network in the country to broadcast in digital. In 2015, it commercially rolled out its digital TV box, ABS-CBN TVplus, to prepare for the country’s switch to digital TV.
ANC, the ABS-CBN News Channel, is the country’s first 24/7 English language all-news cable channel and the go-to news source of the country’s business leaders and decision-makers in the past 20 years. Considered the gold standard in Philippine news, ANC offers its viewers news, commentary, analysis, live coverage, and features on important and relevant events and issues here and abroad. True to its pioneering ways, ANC is also the first local news channel to establish its presence online. In 2016, ANC launched its high-definition cable channel (ANC HD). ANC is part of ABS-CBN Corporation, the leading media and entertainment company in the Philippines. For more information, follow ANC on Twitter (@ancalerts), Facebook (www.facebook.com/ANCalerts) or visit its microsite at news.abs-cbn.com/anc.