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Many corporations today, big or small, face the decision to be ethical in their key decision making along with the general day to day operations of the business. In this article I will discuss the concept that making ethical decisions about products and services offered to the customer will be more beneficial to the corporation over time than taking the unethical approach. First, we must look at today’s market, what do consumers look for when looking to purchase a product or service from a company. “The path toward customer retention begins with a higher level of customer service. In this new age of consumer empowerment, doing what you say you'll do inspires confidence. So keep your promises. And, of course, make sure your products and services live up to the benefits you tout. Then take one giant leap forward” (Hudson, 2013) Company’s in today’s market cannot afford to lose very many customers for any reason but especially because so much social media is at the fingertips of nearly every consumer in today’s market. It is now easier than ever to share with the world how a company has failed at providing superior service or products from the beginning. (Hudson, 2013) “Maintaining customer service levels at national standards is a critical component of success” (Lewis, 2010) Every customer matters to the success of a business. If a company decides that they can take shortcuts and offer less customer service and somewhat downgrade the product quality, then that business runs the risk of failure. In today’s market customers want superior products and services to ensure they keep coming back. If a company does not meet the needs or satisfy the consumer then he or she most likely has a long list of other businesses where their needs will be valued more. Success for a business should not always be based on net income but on product offering and superior customer service. Let’s face it, if you are unhappy with the products and or services that a company produces the first thing you would do is jump on Google to search for a similar product or service offering. In that sense though, if you chose to be ethical and not take shortcuts to decrease quality of goods and services, then social media could be your best friend! Consumers will often go to social media to tell as many people as possible about how horrible they think a company’s goods and services are, but also if you wow a customer many times they will also resort to social media to tell as many people as possible about their awesome experience. Many business say they don’t have the time or money to figure out how to advertise on social media. As Whiteman describes here “However, in a recent survey conducted by the Institute of Financial Planning and Financial Social Media, one third of advisers said they do not know how to use social media within their business and more than a quarter said they do not have the time to invest in a social media strategy.” (Whiteman, 2013). However, the great thing is that if a business strives to make sure every customer, and even the potential customer, is taken care of more so than the next business in line the social media advertising will happen on its own. Another great benefit to offering superior products and services from the start is that it frees up time and money to better serve your customers. A business knows that if there is a problem with their product or service to properly take care of that customer and try to reestablish trust they have to take care of them which cost the company time and money! “Sam Walton said “ There is only one boss, the customer, and he can fire everyone in the company, from the chairman on down, simply by spending his money somewhere else.”” (Smith, 2013). This statement is so true, and it is the basis of why a company should be so focused on delivering what the customer wants and even what the customer does not know they want! It is always better to over promise and over deliver than to fail at both. Wayne Gretzky one of the greatest hockey players of all time had both hock and whether he knew it or not had the most important part of business down when he said “I don’t skate to where the puck is, I skate to where the puck is going to be.” (Manger, 2005) This is the fundamentals of business, if a company has the customer in mind when providing superior products and services then they will be thinking about where the market will go and how to react to it to better serve the customers. When thinking ahead in business it helps you be first to market and first in the minds of a customer. It truly helps create the wow factor for your customers, bringing them back time and time again. Overall it is better for a company to start off right and let the customers be wowed from the beginning than have to realize their mistakes in a very costly way. Sources: Hudson, A. (2013). Customers are raising the bar. . Plumbing & Mechanical, 31(2), 52-54. doi: 8750-6041 Lewis, D. (2010). Growth trigger keeps customers happy, transforms prospects into buyers. Franchising World, 42(7), 26-27. doi: 1524-4814 Whiteman, H. (2013). Should financial advisers be embracing social media?. Money Marketing (Online Edition), 79. doi: 87316359 Smith, J. (2013). Dealing with unhappy customers. Quality, 52(3), 16. doi: 0360-9936 Magner, C. (2005). The puck stops here. Commercial Carrier Journal, 162(3), 6. doi: 1533-7502
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