Trust-Based Management Term Paper
- Length: 5 pages
- Subject: Business - Management
- Type: Term Paper
- Paper: #65988119
Excerpt from Term Paper :
Truth, Trust and the Bottom Line presents a critique on the book written by Diane Tray and William J. Morin. This paper basically outlines the seven steps and the message highlighted by the authors in their book. This paper also highlights various quotes to support its claim.
Truth, Trust And The Bottom Line
Truth, Trust and the Bottom Line written by Diane Tracy and William J. Morin explicitly illustrates why trust plays a significant role in effective management and good leadership. The authors of the book also go on to explain how trust can be built by following seven steps. The book is ideal for leaders, managers, CEOs and directors who want to learn and improve how to coach and attain feedback. The book primarily outlines a seven step process that explains to the readers, effective ways of deputizing themselves in order to capacitate and retain their employees while accentuating bottom line results while enjoying themselves in the process. The authors have written the book in a manner that captures the heart and mind of its readers, thus resulting in a positively fomenting and reviving undergoing.
In today's turbulent economy, it is highly essential that employers retain committed and hardworking employees. Diane Tracy, a motivational coach and William J. Morin, former chairman and CEO of a search firm offer in their book a seven point program for coaching employees rather then managing them. Their approach emphasizes on frequently giving feedback, building a plan and breaking through employee hindering, assisting to contour distinct performance objectives and providing the tools obligatory to meet them. It is also fundamental that the employee too must be committed to this process and ready to contribute a worthy feedback to his head.
Diane Tracy is considered to be one of the most profound internationally renowned speakers.
She is an executive coach and author who has served business, industry, associations, government, military, church and educational organizations for over 18 years. Her primary mission is to help organizations and individuals reach their full potential by staying true to their mission, by applying leadership and management disciplines that lead to high performance, and by nurturing strong relationships based on honesty and trust (About Diane Tracy).
Before forming her own organization named Tracy Inc. In 1984, she was the senior vice president for a New York-based bank. There she was basically responsible for the bank's advertisement, marketing, employee training and development. Diane Tracy was one of three trainers who educated the New Leaders of Russia, in a program sponsored by the United States State Department. "She presents workshops, seminars and keynotes on the subjects of Leadership, Management, Team Building, Empowerment and Coaching. Clients consistently report that her presentations are the highest rated of any presentation ever given in their organization" (About Diane Tracy). Tracy makes use of her twenty-five years of business experience and her unique life experiences to render stalwart, captivating overtures. She has done her workshops in organizations such as AT&T, MetLife, Philips Electronics, IBM, Bristol-Myers Squibb, MTV, Kodak, ADP, the U.S. Army, and the Social Security Administration. Diane Tracy is also the author of many books such as The First Book of Common Sense Management, 10 Steps to Empowerment, Take This Job and Love It, Truth, Trust and the Bottom Line: The 7 Steps to Trust-Based Management.
William J. Morin, CEO of the WJM Associates founded in 1996. His organization basically teaches how to retain and attract corporate talent. "WJM Associates which employs psychologists, consultants and former senior business executives also offers programs in developing leadership skills through Montana Leadership Institute. Among his clients are AT&T, PepsiCo, Pfizer and Merrill Lynch" (WJM Associates).
Hence, it is the wide experience of the authors that gives the book great credibility. The book illustrates not only the personal viewpoint of the authors but also the real life examples, which have occurred in many organizations. The authors have written this book after gaining wide scale and hands on experience in the field of management and it is through this book that they guide both the employer and the employees on building mutual trust.
Diane Tracy and William J. Morin their book write, "People will not follow you unless they trust you, and they cannot trust you don't talk straight to them" (Truth, Trust, And The Bottom Line). According to the authors it is this concept that goes a long way toward establishing a successful manager and an employee relationship. The book goes on to explain that the best managers are those who can coach their workers. "For managers to be effective coaches, they must foster an atmosphere of mutual trust and respect. Yet many managers withhold honest feedback, resulting in mistrust, poor communication, lost productivity and frustration" (Mike Frost, Truth, Trust And The Bottom Line). In order to avoid pitiful conditions in an organization it is important to make use of the technique called Trust-Based Management. The book outlines seven management steps required to build trust. They are as follows,
Seek the Truth. It is necessary to judge the workers and performance objectively.
Give Feedback. This point specifies that providing staff with an honest assessment of performance tears ambiguity and creates trust even of everything observed is not positive.
Create a Vision and Plan. Sit and critique with the employees how they can magnify their job performance and conjure up a plan for doing so.
Break through Resistance. It is important for the employers not to abdicate from guiding their employees who do not welcome their decisions immediately.
Observe and Mirror. It is important to constantly monitor the performance of the employees' and let them know their good and bad points.
Teach and Guide. It is important for the heads to assist their workers in doing their jobs right and stay focused on the objective.
Recognize, Celebrate and Reinforce. It is essential to seek improvements in an employee's work performance and take the liberty to recognize and appreciate these achievements.
The book explores each of these steps by providing examples, feedback checklists and case studies. The authors of the book greatly emphasize on a factor specifying that for each step to be successful a manager must recognize that people work for people and not companies. "The quality of the relationship you have with each person you manage is probably the single most important factor affecting... performance" (Diane Tracy And William J. Morin, Truth, Trust And The Bottom Line).
The authors in the book write,
When we conducted one-on-one interviews with the eight people who left, they each gave the same reason for leaving: they did not trust the manager. In story after story, they recited instances when he distorted the truth, betrayed their confidence, and treated them with disrespect. Through coaching, the manager eventually learned to change his behavior and develop more of a coaching style of management, but at a pretty high price to the company (Diane Tracy And William J. Morin, Truth, Trust
And The Bottom Line).
Diane Tracy points out that high performance, quality and customer service are the straight resources required in achieving honest communication and trust. She also goes on to explain that, "The key in any boss-employee relationship is trust that really is the basis for high performance" (Diane Tracy And William J. Morin, Truth, Trust And The Bottom Line). She believes that trust can only be attained after having an ongoing dialogue with each individual.
That ongoing dialogue should consist of what are the expectations, where is it that I want you to be putting your time, what are the boundaries of your decision-making? If you have that ongoing dialogue with them, you're going to be able to know when something is wrong. You'll have the kind of relationship where you can say 'I noticed you haven't been yourself lately, is there…