10 Human Practices that Result to Good Business Practices

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Nowadays people are being careful on which brand to root for and from whom they would have to spend their hard-earned cash. They want to have their own values align with the values of the company they are buying from. For a business, running and scaling will always be challenging but it’s much easier if you have a clear, strong and good company culture. This goes true with the customers as well. It inspires customers to remain loyal to a brand which is what your business stands for.

It is important to have or make a mission that identifies the values and gives definition to your company that resonates with your market. Here are corporate values and practices that are guaranteed to increase customer acquisition and retention.

Transparency

Brand transparency has never been more important to a business. Customers care about the brands and they try to find out everything from the inner working of the brands, down to how materials were sourced, how products were made, and how the company came to be. Customers root for the brand that has greater transparency and are willing to pay more for these type of products. They remain loyal to these brands for life.

Brand transparency is highly correlated with customer loyalty in the long-run. Get rid of any hesitation your customers may have by letting them know how you run your business in your office space Philippines.

Honesty

It’s a common principle of a business that in product prescriptions and marketing materials you should promise what you can actually deliver. With your business, you should be honest about the value of your product or what service specifically you can provide to the customers, and communicate this in a way that will make sense in their own lives. Being successful in delivering your promises to your customers will enhance trust and commitment between your brand and your customers.

A business that practices honesty will not just build trust with your customers but it also inspires your staff with respect for your mission. Businesses that practice honesty builds a foundation of trust with its colleagues, competitors, staff, customers and every other individual identity. Grow your business with ethical behavior and value your customers’ value to grow your positive consequences.

Empathy

One of the best human practices to help improve business practices is empathy. As per Joey Pomerenke said, “it is the feeling that you understand and share another person’s experiences and emotions; and the ability to share someone else’s feelings”. It may be not the first thing people think about when they talk about business skills but it is increasingly making it to top of the business practices.

Empathy is commonly interpreted as soft skill but it is one of the most important business practices. Little do they know that it is a hard skill that should be required from the board-room to the shop floor and embedded into the entire organization. That’s because empathy in an organization helps humanize relationships with customers and assures them the brand is invested in their satisfaction which makes it critical to business success. Furthermore, developing empathy in an organization can help you develop and market products and services for your customers.

Consumer Advocacy

Consumer advocacy refers to utilizing insights into customer’s needs and pain points to provide real solutions that make a difference in customer’s lives.

When you interview a customer and ask them their needs, it means you are asking for their problem. By asking your customers their problem it means you value them, and by the time you are able to produce a solution to their problem they feel more than just a customer. If you continue to hear your customer’s problems, they will be going to breed brand loyalty and their trust towards you and your brand will grow.

Ethical Business Practices

A business that practice ethical behavior are more likely to make up with their customers especially for the millennial customers. Millennial customers believe that companies should invest in more than their own financial gain and strive to buy where their values lie—whenever they can afford to. They will reward the company if it promotes ethical behavior and matches their own ethics and punish them if it doesn’t. Also, if you want your business to win the hearts of these consumers, your company values should go beyond corporate self-interest. According to Pew, millennials agree with the statement, “Labor unions are needed to protect the rights and economic well-being of workers.” However, unions or not; millennials customers believe and strongly support the idea that companies should treat and pay their employees fairly.

These values have all been proven to generate more loyal customers so your business must live and breathe them every day because if your brands fail to live up to these ethical standards, these consumers are willing to take their business elsewhere.

Setting Team Expectations

Research states one of the top reasons for unhappiness in your office space Philippines is communication issues with one’s manager. Often managers make incorrect assumptions that employees have all of the information on what needs to be done without having been told how things work. This makes it unfair for the employees. The employees can give an output to the manager but it’s a completely different picture of what is expected. It ends up for the manager blaming the employee then resentment follows thereafter, leading to poor performance.

Setting proper team expectations is important to practice in your workplace because ever since accountability has become impactful to any form of businesses. Get it done by gathering your employees, managers, and executives twice a month to discuss each department and their accomplishments and challenges so they would know the things that need improvement.

Managing without Ego

Every human being has different values and beliefs; we are all unique. There are things that a team can achieve by having different solutions to a single problem and one’s opinion should be respected. Ego is part of human nature; we are conditioned to it but we must learn how to differentiate good from bad ego to resist natural responses coming out of bad ego. We need to learn how to embrace the behavior produced by our egos. Productive teams understand that ego is not helping them in problem resolution and it only kills productivity.

Many CEOs and executive level have various method that they swear are the best of doing things. But what they don’t take into account is that there are other methods to get the job done. But they don’t give the chance to the assigned team to solve the problem in their own way because the executive staff’s method is final and irrevocable.

Have a Clear Process

It is extremely important to have a clear process which has clarity and consistency that every team member understands. The fine print in the business of exactly what happens is the clarity of the process and procedure. A carefully crafted process will factor in all elements of the business system, indicating when action should occur, and who’s responsible for the act. Moreover, a clear method enables consistency and improves efficiency. Whenever there’s a task to be completed and there you have a clear process the team can perform the task very well and the desired output will be met.

Document Each Process

Documentation serves as the roadmap for your organization—it helps you identify the current state of a process to know how you can improve it. And every task that needs to be done more than once and by multiple people needs to be documented. If you do so, it will provide consistency for your organization and it allows you to monitor and revise processes as you go along. Documentation also prevents procedures from going unused due to lack of understanding, and it helps to determine if processes are efficient or if certain steps need to be revised. Documenting process may be time-consuming, but it provides numerous benefits to your organization that make it well worth the effort.

Use data-driven decision making

As operations get more complex nowadays, it is best to use data-driven decision making. It is a way of working which values the business decisions by verified data. Such governance is attainable when the quality of data gathered in your office space Philippines is ensured. It is difficult and has long process to collect, extract, format and analyze data but with data-driven decision making it limit the risks and increase the likelihood of getting the desired outcome. Furthermore, data-driven decision making does not only help you get your desired outcome, but it also helps define what the desired result looks like.