The aim and objective of every business is profit making and which is why every business set ups expects to flourish through turning over, over a period of time. But while considering profit making in any business establishment, we also know that ethics are one important factor for business growth which is why every business individual looks out on how to keep their customers coming back.
This therefore means that profit making in businesses relies on how constantly our customers comes back through the treatment we give to them, especially the joy they derive from purchasing from a place may be due to how they are welcomed, the discounts they get on one or two items or services of helping to show a customer round in the business areas.
Everyone in business should know and consider both ethics and profit making as two factors that must work hand in hand if a business is expected to last for long period of time. In this regards, business owners should have it in mind that choosing one factor and leaving the other literary will not make every operating tactics not balancing. And no one in business will just want to make profit without considering customers feelings on how they perceive relationships with owner, their feelings towards prices of commodities when compared with other outlets, and most importantly, the welcome smile 😃 every customer expected when spending their money.
I as a person like to maintain long lasting relationship from any where I spend my money 💰. First I will look out for that first impression attitude which will make me want to go back to that place severely. Secondly how are the prices of items compared to other places? Will the owner of the business listen when I complain of a thing? How about the just “thank you for patronizing us” attitude which many appreciates even if they just spent a penny on an item. These are business ethics that matters most in businesses.
Even I as a service provider, working with clients as a Realtor needs business ethics to be able to keep my clients. Overly trying to over charge them in times of commission to make more profit will make me loose some that are supposed to come from those I have worked with. And reaching out to clients regularly on your own without asking for call credit money or air time service money is a way to show that money is not the first thing you are presenting. Because at the end of every sealed business, any Realtor is sure to get their commission.
In all, businesses needs ethics to operate which eventually leads to a good and steady growth for profit making. When a customer is getting value for their money wether in goods buying or in services providing, they are always going all out to spend and stick with you. Its very important to not focus purely on profit making early in business until one has built a solid foundation with your customers. Although most times, other factors like rent, salaries to workers and running expenses can pose a huge problem which is why most establishments focus on profit making before considering business ethics.
This is my response to the #hivelearners featured content for week 175, edition 01, tagged “PROFITS OR ETHICS”.
Sourced images are credited.
