Today's corporate world follow ethics to be successful. There is no doubt that unethical business fails somewhere and has no consistency in the long run. To keep going company's principles, rules and regulations should be grounded or else its very hard to succeed. First 5 years are very hard to sustain for any newly formed organization. But once the organization builds trust and creates a good customer base no competitor can shake it and the company is bound to grow and prosper.
Lets take example of the brand Surf washing powder. This brand is present is the market since years and is still successful inspite of lots of competition from other brands like Tide, Ariel, Rin, Nirma and Wheel. Ever thought of why the brand is so much successful ? Its just because it meets the expectations of the customers and never under performed. It says it “ Fights tough stains “. You try the product and check it yourself. I stick to this brand because it meets every expectation of mine. When i was school going, dad used to purchase surf for cleaner clothes and now i am mom of 2 year old baby and i prefer surf washing powder over other detergents. Its business ethics which keeps a company going. If at any point of time one is only reluctant to make profit and forget customer and employee satisfaction,the product will be heading towards disaster.
There are many who runs complete ethical business and those who follow them strictly are bound to be successful in the long run. We need to concentrate both on present and future so that the present hard work secures our future. Always remember its very hard to build trust bust very easy to break it. Once trust is broken you are out of business. No amount of money can help you survive in the market. I remember when there was internet boom, lots of companies came up with different plans. Tata Indicom came up with different plans to woo customers but slowly it could not meet customers demands and people started losing trust. BSNL proved to be more reliable and trust worthy than Tata Indicom. Its just because it meets expectations of consumers and they know at the end of the day if internet speed increases or decreases they will have to pay constant bill and no hidden charges as in Tata Indicom.
Its hard to fool customers because they are informed and do lots of market research before buying a product or service. Its a red signal for companies to adhere to all ethical practices and stick to all promises .
By Rashmi Priya