Business Management

Business Ethics

One of the more important attributes for small business success is managing with carefully developed principles of high ethical standards. When practiced throughout the organization it becomes part of the image of the company and can be an important factor in overall success and how the community views the business.




The following principles incorporate the characteristics and values that most people associate with ethical behavior.

1. HONESTY. 
Ethical executives are honest and truthful in all their dealings and they do not deliberately mislead or deceive others by misrepresentations, overstatements, partial truths, or any other means.

2.  INTEGRITY. 
Ethical executives demonstrate personal integrity and the courage of their convictions by doing what they think is right even when there is great pressure to do otherwise.

3. LOYALTY. 
Ethical executives are worthy of trust, demonstrate loyalty to persons and institutions by friendship in adversity, support and devotion to duty; they do not use or disclose information learned in confidence for personal advantage.

4. FAIRNESS. 
Ethical executives and fair and just in all dealings; they do not exercise power arbitrarily, and do not use overreaching nor indecent means to gain any advantage nor take advantage of another’s mistakes or difficulties.

5. LEADERSHIP. 
Ethical executives are conscious of the responsibilities of their position of leadership and seek to be positive ethical role models by their own conduct and by helping to create an environment in which principled reasoning and ethical decision making are highly valued.

Certainly there are many other attributes that may be considered. I hope these few examples serve as suggestions for how your business might be governed.
Please let me know your thoughts: gerry@polarisgroupmc.com

Business Management

Do you communicate well in business?

Communication is at the core of all our relationships, both business and personal. Business communication needs to keep pace with the warp speed digital communication that bombards us with messages we often did not ask for and are irrelevant to our business activity.

Effective communication is a vital tool for any business owner. Your success at getting your point across can be the difference between sealing a deal and missing out on a potential opportunity.

Communication is also important within the business. Effective communication can help to foster a good working relationship between you and your staff, which can in turn improve morale and efficiency.

Here are some suggestions for consideration:

1. Listen
It's one thing to ask good questions - it's another to really take on board the answers. Active listening means paying attention to the speaker – both to verbal and non-verbal cues. It is vital to make sure you don't let your attention wander. Important pieces of information can be missed if you are not alert and engaged. This can lead to misunderstandings later on, or possibly embarrassing situations where you appear to have forgotten something you have been told.

2. Non-verbal Communication
Body language can back up the words you use and how you say those words, but can also betray your true feelings if you are uncomfortable in a conversation. Looking people in the eye when talking to them is a good way to let them know you are listening to them and interested in what they have to say. Eye contact can also convey sincerity and confidence, which is often important in business situations.

3. Respect Cultural differences
The world is shrinking. Companies not only hire foreign employees, but they also work with more colleagues abroad. As a result, management needs to be culturally sensitive and aware of the subtle differences in the way people of different nationalities interpret words and gestures.

4. Trust your staff
When employees feel as though they have control over their job, they feel a sense of purpose and are more invested in the entire process. Autonomy breeds innovation and job satisfaction. Babysitting, on the other hand, makes employees feel as though the company doesn't consider them competent enough to do their job. They feel insecure and unmotivated. Provide your workers with the tools they need to get their job done, and then give them the freedom to do it.

Communication effectiveness can have dramatic effects on employee morale and productivity. Always work towards maintaining high standards and rewards will be there.

Please let me know your thoughts. gerry@polarisgroupmc.com