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2 of 2 people found the following review helpful:
5.0 out of 5 stars
The business of trust, February 20, 2007
The market has been glutted by business books touting new insights and formulas for success. It hasn't been until now that a book fearlessly points to what should be obvious but isn't. According to author Kathy Bloomgarden, the truth about trust will set you free in a business environment beset by scandals erupting from greed, arrogance, and short-term thinking.
Woodrow Wilson once said, "The business of America is business." Bloomgarden's book builds on that observation with another: "The business of CEOs is trust." The challenge for CEOs is to have the vision to see today's mirages of success as just that - not the enduring success that is earned by building a better future for employees, customers and stockholders. By following the simple but disciplined rules that Bloomgarden has gleaned from a variety of corporate leaders who have earned and maintained the trust of their stakeholders, she shows how the tenure of a CEO can leave a legacy that even in the glaring scrutiny of retrospection bears out the vision and values of the leader.
In an environment in which more than a few business leaders have lost their direction, Bloomgarden illuminates a path to a `straight-and-narrow' philosophy that demands character, candor, and demonstrable caring for stakeholders. Starting with her own experience as the CEO the global public relations firm Ruder-Finn, Bloomgarden distills the essence of success stories of numerous business leaders who have built trust-based relationships that have weathered crises, negative markets, and the cultural vagaries of the global marketplace. Trust, as she points out, has the power of simplicity, universality, and endurance.
Bloomgarden acknowledges the pressures often felt by CEOs for strong and dependable profits on a quarterly basis. But taking the risk of a bad quarter or two - or even a bad year - in order to maintain a company's values and reputation is more important than the immediate popularity of good quarterly earnings. The corporate leader who becomes a statesman rather than a politician will have a much easier time outlasting the "inevitable pitfalls that beset all companies." Bloomgarden identifies responsibility, respect, realism, honesty, and the ability to take criticisms seriously as methods that inspire trust in your abilities. Once you have the trust of your employees, customers and stockholders, you will have the ability to enact your corporate vision and effect change for greater success.
In an age where CEO longevity is becoming an oxymoron, even the public perception of business is changing. A 2004 Gallup poll found only one-in-five Americans ranked business executives as `high' or `very high' in terms of honesty, with only lawyers and car salesmen having lower scores. Clearly, a change is needed. One CEO notes the simplicity of the solution: "As leaders, we are responsible for setting an example through our actions." The difficulty executing that simple advice is that many actions taken by CEOs are not in the line of sight of potential critics, challenging CEOs with the true test of trust - how a person behaves when people aren't watching.
Bloomgarden candidly explains the fortitude it takes to establish trust - much like pulling "Excaliber" from the stone. Only a select few have seemed able to accomplish the feat. But according to the author, many more corporate executives can acquire the capability if they are willing to do the character-building calisthenics necessary. The result could be remarkable: a renaissance of trust as a competitive asset of the American business community.
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