Blog Posts

  • Aug 16 2017

    Honesty…Does it Really Exist in Business?

    Honesty

    Image credit: lds Blogs

    Business and honesty are often viewed as mutually exclusive, especially in corporations where the primary goal is to increase shareholders’ value no matter what the situation might be. If some corporations are focused on generating huge profits for their owners, then why do they say otherwise in their mission statement? This incoherence in intention disclosure is clear evidence of lack of honesty in some corporations. This dishonest nature cascades all the way down to front-line employees who serve customers on a daily basis, as well as vendors and partners who engage in different sorts of business transactions with these corporations.

    Corporations, that value sustainable growth, understand the importance of honesty and its role in building trust and good reputation. These corporations invest heavily in resolving customer’s complaints and would go an extra mile to please their customer even when such actions incur costs that could well be greater than the Lifetime value of that customer. However, this makes economic sense because Lifetime Value should not be looked upon as an isolated metric that only applies to an individual customer. Referrals originate from exceptional experience offered to a customer on a consistent basis. The value of referrals is difficult to quantify in monetary terms because a single referral can generate hundreds of referrals in the long-run. The impact is astronomical.

    At Nodigore, we understand the importance of customer loyalty and as such we operate on the premise that “our customers deserve the best service, even when it hurts our bottom-line profits”. We have demonstrated this belief in numerous occasions, mostly involving situations where the information that our mover partners provided us during a move is not consistent with what the customer stated in their booking request. Instead of looking at this as a possible act of dishonesty from our mover partner or customer, we decide to take a different approach. We treat the situation as a communication gap and work on improving our booking process to avoid similar occurrences in the future.

    What are your thoughts about our approach? Would you do something contrary to our approach? Kindly share your thoughts with us.