Does Ethical Behavior in Business Bring A Financial Return?

Understanding that business ethics IS an intricate part and perhaps even an extremely critical tool for companies to realize the full impact of its’ value, within their business model.  It is my personal opinion that having a defined ethical behavior strategy will to help to enable more revenue, higher profits and in general a more successful company.
Realizing that the Merriam-Webster Dictionary defines “ethics” as:  “the principles of conduct governing an individual or a group” [i.e. business ethics, professional ethics, work ethics] here are some additional pointers or thoughts for you to ponder:

A.     Be open for new ideas because if you are involved with improvement and change you are standing still.
B.     Continually ask for opinions and feedback; this should include your customers, vendors as well as your employees.
C.    Truthfulness in Business; According to the Merriam-Webster dictionary, the definition of trust is:  “assured reliance on the character, ability, strength, or truth of someone or something.
D.    Become involved with customers, vendors, employees and community because familiarity in a key component to being trusted.
E.     Be respectful of other, regardless of differences, status in the company or community, age or other comparable distinctions.
F.     Achieving your promised obligations is paramount to gaining trust with current customers; and amazingly it will help you regain past customers once they realize your commitment to meeting your promises and/or obligations is valid and in practice.

So the two big questions for you: “do you measure up?”  “Does your company measure up”

Have a tremendous week and if I can be of any assistance, please call or write and I will respond immediately!  Remember, your comments or suggestions are always welcome.

George F. Mancuso, CPC
Client Growth Consultants, Inc.

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