Currently, a Business Development Executive with some years of experience and training in HR, Project Management, and Trade Development.
Business is Integrity
Good works, concern, dedication, and accessibility characterize a reputable organization. Such an organization will always have patronage from first-timers, repeat, and advocates. Investors and partners will line up for it. The best applicants will consider it first. Regulators will respect her, and the government could grant her waivers.
Without reputation, an organization may not operate for the long haul.
To expand and diversify, an organization must generate enough revenue in profit by doing a lot more.
A good reputation could yield the patronage, recognition, and revenue that a firm needs to expand and touch more lives.
A cordial partnership brings fortune. Be it business-to-business or business-to-customer, the perception of partnering stakeholders about an organization influence their business decisions. That is the reason companies check the reliability ratings of prospective partners before committing resources into relationships with such partners.
A cordial business relationship improves reliability and creates an enabling environment for more businesses. When you have good partnership rating, you won’t miss out on opportunities that require JVs.
Satisfied customers will fetch you investors. The quality of the product or service determines the reputation of an organization.
The customer rating of a firm affects how much investors are willing to invest in that firm. Reputable companies consider customer suggestion regularly as a way of understanding and satisfying their customers.
When your customers are satisfied with you, they come again and again.
A motivated team boosts reputation. Such a workforce attracts prospective businesses and strengthens existing business relationships.
Competent applicants are also more likely to apply to organizations that have motivated workforces than those with demotivated teams.
A well-informed, and motivated team, will create happy customers, partners and investors that are eager to do business with you.
Create an enthusiastic team that is passionate about what they do; they will attract the attention that you desire to excel in business.
Compliance improves reputation and opens doors of opportunities. Companies that fulfil their immediate and remote statutory obligations work very hard to maintain such status. You don’t see them in the news for tax violations or unhealthy practices. Their clean slate makes then eligible to apply for all privileges and opportunities within their reach. They are known, by the regulators, for their compliance. Which gives them some preference, so they are usually the first to be considered in competitive businesses that require government intervention.
High return on investment appeals to shareholders. Such financial representations go a long way in promoting the integrity of a firm. It tells how well a firm can be prudent with the funds it attracts from creditors and investors.
Investors always look out for high-dividend stocks to buy.
A steady flow of returns on investment strengthens the trust of investors, so to retain investors; companies must strive to maintain good financial records.
Philanthropy has a way of influencing the public. Corporate Social Responsibility not only attracts favours and trust but also heightens the integrity of a firm. It establishes an organization’s right to operate even in hostile terrains. It increases the likelihood of more businesses from investors, regulators and other stakeholders.
With CSR, you stand a chance with international sponsors and donors for funding on initiatives.
It is not easy to be in business for more than five years. On average, a business starts to break-even after a year or two.
The longer a company exists without being blacklisted or getting involved in litigation; the more reputable it becomes. It is expected that business partners and profit centres must have built trust in her; having done business with her over time without issues.
Again, partners and clients will be more willing to work with an organization that has considerable years of operation because they believe that by then, such a company must have had enough experience, and their chance of failure is slim.
Business may not come always but ensure that you give in your best whenever you have the opportunity. When your success rate is high; your reputation will climb higher.
Some organizations are known to extend deadlines or end their businesses in court. They may have a few handovers but not enough to show for their years of operation.
A background check on them will show that they’re good at cutting corners, and outwitting their business allies. Such firms will not attract opportunities from some stakeholders, but a firm that is bent on accomplishing her business projects will always have businesses knocking on her door.
When the board of directors of an organization is comprised, of experienced and reputable personalities; that organization will gain favour from investors, regulator and partners.
On the contrary, if the board is composed of people with questionable character, investors will decline. Without investors, companies cannot expand reasonably to accommodate the innovation and flexibility that satisfy deepening customer demand.
A high level of specialization is a good boost to a firm's cooperate image. Vendors and OEMs are more likely to get jobs than suppliers and contractors for some reasons including; specialization, guarantee, and support services.
When you get involved in virtually every type of business, you become a jack of all trades master of none.
Finally, adopt an integrated approach to create and maintain a happy clientele that will build your empire. Always stay above board to build the reputation, that you need to be successful in business.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.