Industries Talk

Key Ethical Practices to Keep Any Business Competitive

Key Ethical Practices to Keep Any Business Competitive

I always try to ensure that my business is competitive by taking a brutal analysis of my ethical behavior and striving to set an excellent example for everyone around me. In industry, ethical behavior refers to conduct that applies fairness and honesty to colleagues and clients. Treating everyone ethically helps our businesses by building customer loyalty, attracting and retaining talented employees as well as avoiding legal problems. The following are some key ethical practices I follow that I have learned over time are crucial to the competitiveness of a business.

 

Building Customer Loyalty

Treating customers unfairly, for example, by overcharging them is unethical. If clients are unjustly treated, they will not become repeat customers, and they may end up spreading the word to their peers, which leads to losses in our businesses. Having a strong and loyal customer base is one of the critical successes I have seen in companies. I find that serving and working with an existing customer is more economical than acquiring a new one.

 

Improving Company Reputation

Having a good company reputation helps create a positive image of any business. Reputable businesses can expand their client base through word of mouth referrals more than adverts put on any platform. Although, incorporating the best online reputation management software into the running of your business will do no harm to your chances of being able to build a positive reputation. In fact, it will only enhance it. However, having a reputation for unethical dealings in our companies may hurt any chances the company might have of obtaining and retaining new customers. This is especially so in this era of social media and networking where dissatisfied clients are quick to spread negative information about any bad experience they might have had when dealing with our companies.

 

Retention of Good Employees

Talented employees at any level in our businesses and organization want to be fairly compensated for their dedication to the work they are doing. I try to reward them by advancing them in their careers through job promotions depending on the quality of their work and dedication and not at all by favoritism. Our employees want to be a part of a company whose management tells them the truth about how the business is faring in case there are instances where there will be layoffs and reorganizations. When we practice fairness in our organizations and deal with the employees reasonably, we will have a greater chance of retaining the talented ones.

 

Avoiding Any Legal Problems

A few business and company owners tend to cut corners to maximize their profits. We may decide not to comply with the environmental regulations, labor laws, and might ignore workers’ safety or even use substandard raw materials while making products. When the law catches up with us, we may end up paying hefty penalties such as legal fees and being fined by government agencies. In the long run, this ends up impacting our business negatively and even more financially from a large number of fees and fines that will be charged.

 

One advantage that companies may enjoy when they observe the regulations put in place by government agencies is having a good image in the eyes of the law and the public. They also avoid financial losses associated with breaking these laws.

 

Conducive Work Environment

Employees also have a responsibility to be ethical from the moment they are interviewed. They should be honest about what they are and what they are not capable of and the level of their experience. When the employees are ethical, we, as the employers and their superiors in the organizations, will be assured that the team we work with can have a great and positive co-existence. We will also be able to trust them with the organization’s confidential information and business secrets.

 

Employees who are caught up in lies ruin their chances of being advanced by their supervisors and might end up getting fired. Some of our business might end up facing significant losses, for example, in some industries like restaurants and grocery stores where untrustworthy employees steal foodstuff or in finance departments where employees might steal money or misappropriate funds leading to massive losses in our businesses.

 

We always try to cultivate a culture of honesty and ethics among our employees. We have a simple but detailed code of conduct that we need our employees to read and commit to when we offer contracts. We also hold regular training programs to help our employees understand ethical behavior for their own good, the good of the business, and that of our clients.

 

These are practices I believe can contribute to the competitiveness of any business in all sectors of the economy.

Posted by David Presutti in Industries Talk, Money and Shares, Self-Employment, Think Business, 0 comments
Reasons Why the Parcel Delivery Business Has Been Revolutionised

Reasons Why the Parcel Delivery Business Has Been Revolutionised

Technology has changed the way parcels have been delivered in the past and is set to change how they will be delivered in the future, furthermore according to websites like https://www.rmhbangor.org/4-kinds-of-businesses-that-are-flourishing/ the courier business is one of the main sectors that is flourishing nowadays. This article will explore why at every stage the parcel business has been revolutionized.

 

Vehicles

In terms of the word “van”, the first records of one transporting any goods dates to 1829, although a “caravan” is described with the same meaning dates as far back as the 1670s. In modern times, Mercedes-Benz are credited with inventing the first van vehicle. That is one that could take heavy loads, for which they recognized the need. This has certainly paved the way for how quantities of parcels, that can often be large, are delivered, and therefore revolutionized parcel delivery in that respect.

Faster modes of transport, though, have not necessarily resulted in faster delivery, as a Victorian Christmas postcard appearing on an internet auction site can reveal that despite a Christmas card having been posted late on Christmas Eve, it still arrived on Christmas Day. It was not until 1960 in England, Wales, and Northern Ireland, and 1965 in Scotland, that the General Post Office stopped this Christmas Day delivery. Having said that, delivery is not necessarily about speed, more about when somebody wants something to be delivered, assuming it is not on Christmas Day.

The courier service was invented by Jim Cassey, who called his business Big Four Carrier. He was to start courier services in Seattle, USA, in 1907. This company, for which he borrowed $100 from a friend to start up, is today known as UPS. The courier services which have been set up in the UK since have been in direct competition with the Royal Mail, who have competed by extending, through Parcelforce, the various time frame and insurance options that they provide in relation to delivering parcels. Parcels weighing over 2kg in every case now need to go by Royal Mail’s Parcelforce service or an alternative courier. Founded in 1990, and based in the UK, Parcelforce are now a worldwide logistics and courier service. It has built-up a network of international partners to help it to deliver its parcels.

 

Sat Nav

To follow a postman’s route is to arrive somewhere in the shortest time possible. Technology has now made this possible, too, through satellite navigation systems which can be attached to vehicles or mobile phones. Sat Nav has become a courier’s ally in respect of delivering parcels. Just by knowing the postcode, drivers unfamiliar with an area can find their way to the remotest of locations, or thereabouts.

Research can reveal that, in the UK, there are almost 1.8 million postcodes in use, with each one covering an average of some 15 properties, but in some cases between 1 and 100 properties. These postcodes can be programmed into navigation systems to provide a map or vocal guidance that takes a user to within doors of their required destination. It is becoming harder to find oneself lost, whether a delivery driver or someone going on a long walk to improve their fitness.

 

Drones

Drones will now deliver parcels because Amazon Prime Air is set to run a service that will deliver packages of up to 5 pounds within 30 minutes using small drones. These delivery drones will use between 4 and 8 propellors and have rechargeable batteries to provide thrust. The packages can be attached underneath the drone’s body. The drones will be operated remotely, or autonomously, by operators who will potentially be overseeing multiple drones all at once. As this kind of service takes off, it will no doubt become a cheaper, as well as a more convenient option, for households and businesses to have their parcels delivered. A family will not have to, in theory, even be in, if the items can be dropped safely, and softly hopefully, within the confines of a secure walled garden.

 

So, with advancements in transport, navigation, and ariel possibilities, there has been much to revolutionize the parcel delivery business. The above 3 all provide reasons as to why the increased need for parcel delivery is being more than met by increasingly inventive ways.

Posted by David Presutti in Industries Talk, 0 comments