Everyone wants more money and so is it with those in business, to make profits. No one ventures into a business to lose the capital invested, rather to get ROI for every single penny put into the business.
There are hundreds of lessonsa and teachings about business but I doubt if 10% talk about or emphasis on the dire importance of ethics in business.
In my opinion, the basic ethics in business are honesty, trust and like. Every other ones is somehow found in these 3 ethics. Businesses are successful when founded and being run on these 3 ethics. You've got to be the most honest in your type of business, customers love to know that they hear the truth from you always, especially when you advice them on want to buy or use and leave them to make the choice themselves. No one buys from same seller that once told them a lie.
Image used in this blog was gotten from Meta AI.
For trust, not just you but your products and or services you offer must command it. Like comes in when customers have could confirm that you are trusted and honest in your dealings. These 3 causes automated patronage and referrals, which are what business owners should seek after.
It is almost contrary in today's world where business owner wants to milk money out of customers in every possible way, not minding the effect on their customers. Some business or brand owners don't even care about what people say about them amymore, all they need is their next target to cheat. We have heard and red countless stories of online vendors and their customers, of how people get scammed online simply by buying from an online shop. These continuous stories has discouraged many people from trusting online vendors, affected even the genuine and honest vendors online.
Lack of price regulation is alos a key factor that enable these act of theft amongst business owners. If there were price regulations no one would be able to cheat customers as long as there is a regulation backing the price of what is being sold. The absence of price regulation in my country has made it very possible for you to go to a market or a simple shop to get what you desire only to realize later that you paid 2 or 3 times the actual price of the commodity.
Now I no longer feel bad for the times I follow my mother to the market to get stuffs: she sometimes beat down the price so much that I feel uncomfortable seeing her and the seller. There were days she bargained price and was able to buy for half or sometimes 30% the initial price the seller called. All these experiences will definitely make one bargain price as though you want to take the goods from free.
I feel reluctant each time I want to buy a ready made or packaged snack for the first time. These days, companies producing packaged snacks fill the package (if nylon) with so much air, making the whole stuff big. You'd open only to realize that there is more air in it than what you paid for or you paid for air.
It is so annoying when people lie that the increase in a particular good or services is the reasons for the extra amount on whatever they sell. How could a pepper seller be so much affected by the increase in the price of fuel. Does your pepper require fuel to grow, they only need fuel for transportation but they add ridiculous amount on their goods.
Whereas, sticking to business ethics helps to promote business, increase the rate of patronage and referral.....but people prefer to scam each other, you'd be shocked to hear varying prices for the same product or good you want to buy and would have to get to as many shops as possible so you could guess what the actual price could be. E
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