Keeping Faith and Confidence in Troubled Times
Integrity in Business- The Key to Long-term Business Viability
Oct 30, 2009
Times are tough. Sales are down and it does not seem like things are going to get significantly better any time soon. Such conditions can make even the most adept business owner lose faith and confidence in his or her capacity to run a successful enterprise. Integrity is one trait that will bring clients back for many years. This article offers five tips to maintain integrity and develop loyal customers and clients.
Retaining Integrity in Business Begins with Knowing Who You Are
Integrity can be defined as being the same on the inside and the outside in a lawful and ethical manner. It is bringing thoughts, words, and actions into total congruence. In business this means that one's word is his or her bond i.e. he or she delivers on what is promised, on time. In order to speak and act consistently, a business owner must think through the tough issues before they occur and respond in a manner that is consistent with his or her standards as well as reasonable customer expectations.
Outline Unnegotiable Principles to Guide Business Practices and Activities
After the business owner figures out who he is and what he stands for, he needs to outline unnegotiable principles to guide his practices and activities in all times. These principles should be clearly stated with very little room for ambiguity. A company leader who sets down absolute principles and practices them on a regular basis will be less likely to forego those principles in times of economic hardship.
Those organizational leaders who do not take the time to predetermine what is absolute and what is not will be predisposed to make decisions on the fly without thinking through the wider ramifications of the decisions. This can result in inconsistency, be seen by clients as a lack of integrity, and cause a loss of trust between the company and its clientele.
Set Up Mechanisms for Accountability in Business Activities and Practices
In order to maintain the highest sense of honesty and integrity, a business owner should be glad to set up mechanisms of accountability to keep each practice, activity, and transaction (even his or her own) in check. Unfortunately, the term "accountability" has been given a bad name in recent times and often produces images of overbearing managers micro-managing everything and everyone. Such a characterization is too bad, because by the process of accountability an organization avoids unnecessary mistakes that could damage the company's reputation for both the short- and long-term.
A fair system of accountability will keep a company's products and services in line with predetermined standards of excellence regardless of the prevailing economic environment and will enhance its reputation with its clients. A positive reputation breeds trust and loyalty which are born of integrity and add to a deeper sense of confidence that the business will thrive for the long-term.
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