WHAT IS INTEGRITY IN A BUSINESS?
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| integrity in business |
As seen in some advance dictionary integrity can be explain as a strong adherence and submission to a particular set of code of conduct or values. there are people that are responsible and are full of integrity in all their dealings with the business world and can be reliable to what ever agreement you make with them, such individual always stand on their word and are very reliable business partners.
Integrity in a business in this case has to do with the total moral values of an organization or business firm, the business organization will be consistent and abide by the set ethnics that giudes the operations of the business environment as a whole in the economy. in the business context integrity is seen in the level of being transparent in the day to day transactions in the business firm. this means the organization will take it activities with the seriousness , which means being consistent and transparent in carrying out its duties.
Here are the examples of integrity in a business
HONESTY:
Business firms who are committed to their integrity will always follow the right part in their dealings, encouraging their workers or member staff to be honest in their doing be it with their customers , colleagues and business partners. This way the business firm will develop trust in the long run ,because any one who comes to do business with them will want to come again just because of they way he or she is treated.
To be honest means to be truthful in all your dealings, for example when the seller of the product is honest with the price he fixed on his goods and services it develop confidence for the buyer to patronize the business because he or she knows that he will not be exploited and he believes that their is integrity in the business.
CONSISTENCY:
Business firm that have integrity are very consistent in they way they apply their set rules and regulation that guides their operations and how they take care of issues that concerns the organization. they will always try their possible best to avoid conflict of interest that may arise, thus this issues will be treated consistently, fairly and just across the entire business
BEING COMMITTED TO OBLIGATION:
Business organization that take their integrity in business with prestige will always be commuted to their obligation and meet their customers, partners, and the whole society at the point of their needs. Business firm will always stick to their part in the initial agreement. also in case of cooperate social responsibility they are committed to provide the general public with the desired need to help the community for example in a situation were the community is face with the problem of water they business organization will meet up and provide a source of good water for the society. this way they growing their trust and integrity and the community will be will to do business and patronize their products
BEING ACCOUNTABLE:
Business tht are concerned about their integrity are accountable to there customers and business partners. Being accountable means that every transaction is accounted for and the records will be there to show the prove this singular act by business firm can increase the level of integrity of the organization.
BEING TRANSPARENT:
Being transparent in a business is another example of integrity in a business that can help the both business men and women to grow there brand and make profit from there investment. this means the companies information is in the public domain and can be accessible by all who wants to know more about the the organization and what is there integrity
ACTING AS A MERITOCRACY:
As a manager with a high level of integrity will always know that acts such as nepotism, favoritism, can reduce that morale of a hard working employee and will ultimately hurt the business and reduce profit. here the leadership is expected to be neutral in all there dealings and treat every employee with equal right in the business organization.
Why integrity is important in business:
As a business man or organization one most look out for business opportunities, and the integrity of your business can get you ahead of your competitors. Here is why integrity in important in a business :
Integrity in a business builds trust
Integrity is very important in business because it builds that trust between between business organizations and encourage business transactions among individuals. Because of the trust that has being build over time the business transactions will go smoothly without disagreement among investors.
Integrity in a business drives employee retention and satisfaction
When there is integrity in a business the employee who is working in an organization will love to be retain as a permanent staff, because of the integrity seen display by the leadership of the business organization he or she will be satisfy with his work and will out in more effort to get more appraisals from the company.
Integrity in an business brings change and improvement
When there is integrity in a business there will be change and improvement in the firm, due to the accountability,transparent nature the company adopt in all there activities this will motivate the workers who are dedicated to their job
Integrity in business brings high business results
Any business organization that has high integrity in their operations they will effeminately experience growth in there business. By the end of the year when they will be presenting the companies financial statement they will be shocked to see an increase in the total revenue, all this can be attributed to the integrity they have achieve and sustain over the year. This means that there customers are well pleased with their services because of the integrity they possess
How to know businesses that have no integrity:
To know a business organization that has no integrity the individual most study and observe the organization activities very well before venturing into partnership with them. here are some of the red flags one must look out for to avoid being defrauded by business organization that have no integrity :
- Business that have no integrity are usually not registered with any professional body such as the cooperate affairs commission and other recognize professional body.
- Most of such business have no physical offices which can be tress or identify in the event were a problem arise in transactions the individual will loss his investment because there is no office to lay your complain .
- Some business that lack integrity are corrupt in nature and there aim is to exploit the general public and make huge profit from low standard goods and services.
- There products are mostly produce with low stander ed materials and can not the stand the test of time.
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