Accounting And Business Ethics
Business Ethics: Managing Your Relationship with competitors
As a company, your competitors are that: competitors. However, how you treat your competitors may affect how your customers and the media perceive your business, your ethics and your friendship. For these reasons, in addition, it is important that you carefully consider how you act with your competitors. In this article we give advice on how you can have a good relationship with competitors, while limiting the impact this will have on your business success. When customers see that you have ethics strong in the way you deal with your competitors, they will know for sure that you will treat them right.
Praise their successes
When a competitor does something good, you should be prepared to say. If, for example, a competitor was able to acquire greater traction than you, then you should notice that they have done really well and are a good deal, while stressing the benefits your company can offer that your competitors can not. It is a good demonstration of the strong ethics within your company, and will certainly leave an impression positive.
Business recommend their Way
If you and your competitors are able to respond to different categories customers, then why not recommend them if you can not provide service to a particular customer? This will make you look good, and they could also be able to do the same for you in return. Ultimately, you both will end up with more business as a result.
Sales & Marketing Strategies
When it comes to sales and marketing, it can be tempting to emphasize the negative aspects of your competitors. And in some cases it may be an essential element of the conclusion of the sale. However, rather than criticizing your competitors, why not talk to both positive and negative points of their service? Such as: "Yes, you are right, Company A is able to offer a lower price than we can. For customers who are more price sensitive and 100% up time is not necessary, they can be an excellent solution. We act for most IT-dependent organizations and employ three times as many engineers per customer. Company A also use an overseas call center, which is an excellent way to reduce costs, and provide more efficient service, but we prefer to give each customer a dedicated account manager. "
However, on some occasions your competitors can not provide a good service. In this case, you must be as polite and discreet about your competitors as possible. You should also cite sources, such as articles and media coverage that supplement your point. After emphasizing the negative aspects, you may also wish to explain how the company responds to the questions you raise. This will produce a certain level of objectivity on your part and show that your company has a strong ethic and is willing to appreciate the problems of your competitors.
Do not bite
When a competitor speaks negatively about your company, it may be difficult to know what to do. Especially when you want make sure your company appears to be friendly and attentive to business ethics. While it is important to answer all questions in a consistent, we must avoid getting involved in any tit-for-tat. It help your company maintain its reputation intact. About the Author
CityLocal is a business franchise opportunity for work-at-home entrepreneurs. The website has information on what’s happening in your local area through our UK directory. www.citylocal.co.uk and www.citylocal.ie
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