subject: The Importance of Fairness in a Retail Business [print this page] The Importance of Fairness in a Retail Business
It is a dog eat dog world out there, or therefore the old chestnut goes. Every person for themselves. Survival is at the core of every decision and action.
Selfish as it looks, this can be the fact of a robust retail environment. No matter how abundant we tend to dress it up, retail business house owners, their suppliers and retail staff are usually all looking out for themselves.
This selfish focus has parties competing with every different, usually with a negative impact on the one unifying component in their relationships, the retail business.
There was a time when the shared objective of a retail business would have seen suppliers, owners and staff working together and not wanting out for themselves first, second and third with the business coming fourth or later as we have a tendency to see today.
It's rare these days to see a business where fairness to all or any stakeholders sits at the centre of the business.
This ignorance of fairness is not solely disappointing, it's damaging to the business and every of the stakeholders.
A honest relationship between retail store house owners and suppliers will see both support every alternative and thru this achieve larger mutual success. This is higher for each businesses than one doing better than the other.
In a truthful relationship between workers and retail store house owners will see both profit personally and financially.
Thus, how do you develop a fair relationship?
It starts with trust between all parties. Trust grows from open communication regarding shared objectives, common ground. It's designed over time, with all parties proving their commitment and seeing that working toward the shares objectives is mutually beneficial.
A retail business which operates in an open and honest setting can expect to see reduced theft, increased sales and improved productivity.
A retail store provider will expect to determine increased sales and a contemporary approach to resolving disputes over provide arrangements.
Staff can expect to advance more within the business and earn more.
These and different advantages flow if all concerned in the business work as a team on the shared objectives which are built around fairness. Now not are these parties fighting and competing for their personal profit. They are working along knowing that they will share in a very bigger profit.
Yes, I appreciate that all of this sounds a touch rosy, a small amount just like the Pollyanna movie. Trust me, it works. I've got seen retail businesses flip around by changing from a selfish organization to a business operating on fairness and with all stakeholders pursuing a shared objective.
