What values are most important for a business?

[sabrefist]

I was just wondering what values people think are most important for businesses?

What do you look for when deciding to buy from them, apply for a job or become an affiliate?

Here are the values I personally think are important:

Truth
A business should be transparent. Everyone involved from customers to employees and of course those with any sort of involvement in the company should know what the goals of the business are. Also customers should have a good idea who they are dealing with.

I respect businesses that come across as honest and transparent, those that work hard to gain my long term trust.

Commitment
Whatever the business model, a company should commit to being genuine. There are few companies that present their product as something of genuine value. It's rare to see a commercial company that will transcend the 'next best thing ever' hype. I admire those who take the time to really get to know their customers. Acting on feedback, aligning the company goals with the customers' needs and working hard to ensure being a customer is a pleasant experience are all important factors for a business.

Communication
All companies should actively communicate with their customers. It's not really reasonable to expect a large company to communicate on an individual basis but an opt in customer newsletter is easy to set up and in the case of a large company, is probably a great investment for the time it takes. These newsletters should be more than just a bunch of adverts and should contain free information that will benefit the readers. I know of several stores that have newsletters, magazines or leaflets that have recipes, advice and honest reviews.

Also to some extent, I prefer companies that are actively involved in improving or caring for the environment. Those companies that conciously work toward being 'green' and 'eco friendly' will generally stand out for me.

[Holistic Star]

Interesting.

Communication is one of those words I try to stay away from because it is so wide and vague that it means different things to different people. Also it goes two ways, the examples were of a company that transmits communication, but doesn't recieve feedback from their customers and act on it.

I've found in business there are an awful lot of companies that have these kinds of values listed on their web pages or in their business plan, but when you actually get there, you find that the words are hollow and not lived up to at all. The bigger the company, the more likely the words are just branding rather than really lived and breathed.

[sabrefist]

When I use the term values, I mean those that you experience when working with a company. A company can say one thing and then do another.

Let me rephase the question: What values do want to experience when dealing with a company?

[Curtis2011]

The best way to determine this is by looking at successful businesses that already exist.


In particular, Wal-Mart and Sam's Club together employ more than 2,000,000 associates worldwide, and thus can be said to be the most successful business in the world.

On the Wal-Mart website, they state their purpose of Integrity here:

Since our company was founded in 1962, we have been committed to maintaining an environment in which our associates are proud to work, our suppliers and other business partners know they are being treated fairly, and our shareholders can invest in us with confidence.

Also, "Sam Walton said it best:"

If we work together, we’ll lower the cost of living for everyone…we’ll give the world an opportunity to see what it’s like to save and have a better life.

My personal opinion: If you follow Steve's advice to "succeed by helping others succeed", you are on the right track.

[profess]

Integrity is huge. Before getting involved with any company you have to look at the integrity of that company and what they do for people. The other values I look at in a company is commitment to the customer and the employees. When looking at a business opportunity after I look at the various aspects that will make the opportunity porfitiable like: 1. Company, 2. product 3. need. 4. compensation and 5. timing, I look at the crdibility of the company. I generally want to get involved with a company that has a good track record and one that as Sabrefist said is transparent, the best way to do that is to look at a company that is publically traded or is well documented by credible sources. I also like to look at the mission of the company and if it is something that I believe in then I am all for it. Also something that is often overlooked is the CEO of the company. If the CEO is an honorable person then the you can usually be pretty certain that they run their business with the same type of honor and integrity.

[Grandiouse]

I agree with integrity. At the end of the day, it's important to be happy with the choices that you made.

Also, even though Wal-Mart is extremely successful I question some of its business practices.

[Eric Roosevelt]

Those look like pretty good core values. I'm no expert on running a business, but from what I've heard it's important to focus on making a contribution as well. Focus on helping others.

[Nicola April]

The best in your business or you will not survive. You have to offer the best quality and value for your price. Service is so important, if I am happy the way I am treated, I will be back, no matter what product I am after. If the service is good when I need help with that product, that is just extra insurance on keeping the customer happy. If something goes wrong with your product and you have a good relationship with your customer...

[Sam988]

Competence and Integrity. This duo doesn't fail.