It makes Business Sense to be Fair
There is a tempting pre-supposition that, if one tries to be fair in business dealings, then an organisation will be uncompetitive. But in fact, being fair in business dealings and practices is the cornerstone to being successful in the long term. It ensures the building of trust and goodwill with the customers and society.This lays the foundation for long term mutually beneficial relationships with customers.
Specific advantages of following Fair Business Practices:
2.1 - It builds the brand value of the seller and positions the product as a premium and respected brand in the market.
2.2 - It creates a reputation of fairness around the seller that builds trust and confidence in the products of the seller and the team.
2.3 - It develops pride of association. Globally sellers are co-creating value with customer participation in the development of products. Customers get the products they need as they are involved in their design and offering.
2.4 - It reduces litigation and customer grievances.