The Importance of Integrity in Business
Success in business is built upon trust and reputation and a key element of this is integrity. In business terms your integrity will be based upon your personal values and a commitment to acting in a truthful and honest way. So why is integrity important for your business, and how can you ensure that it is embedded in all areas of your organisation.
Integrity a Definition – “The quality of being honest and having strong moral principles.”
As the leader of your business the first step is to realise that integrity means that you act in the same way towards everyone regardless of their position within your organisation. It is also important that you show it in every situation that your company may face even if it may cause short term pain, having to admit you got something wrong, had a data breach, or need to recall a product due to a fault for example. These situations may cause you short term problems, but it’s much better to face the challenge, be up front and solve them rather than burying bad news.
Integrity Helps to Build Reputation
Behaving with integrity leads to a stronger reputation for your business. This all comes down to trust, your suppliers trust you to pay them, customers trust you to deliver the goods or services they pay for, investors trust you to provide them with a return on their investment. If you don’t act with integrity you won’t have a business.
Helps with Employee Satisfaction
Your employees will be more engaged and more satisfied if they feel that the company they work for has integrity. They’ll feel that they’re working for a business that they trust and they’ll want to go the extra mile to ensure that you’re successful.
Helps with Quality
As a business owner I’m sure you want to deliver the best possible product or service to your clients and customers but what would you do if you spot a problem? Acting with integrity means that you acknowledge the problem and get it sorted. This ultimately leads to improvements in the quality of your products and services.
Helps with your Long Term Goals
As strange as it may seem, using integrity in business really can help you to achieve your long term goals. Think of it this way, you may face all sorts of challenges and obstacles but sticking with it, and working out how to overcome them will ultimately lead to success in the long term.
Helps you have a Clearer Focus
Choosing to be truthful in all your actions means your focus is on what’s really important, growing and developing your business, rather than having to cover your tracks. I’m sure we’ve all experienced situations where lying or cheating has resulted in us being on the receiving end of an even more convoluted story. Imagine the time and effort your business would have to invest to keep that tall tale going. Whereas being open and honest from the start means the problem would be quickly resolved.
Improved Company Culture
Leading by example and acting with integrity will filter down into all areas of your business. Ultimately this means that your staff will make better decisions, with the long term interests of your clients and business in mind.
Helps Strengthen Sales
There is a desire amongst many customers to buy from companies that act in an ethical way. For this to be effective though it is important that this is more than simply lip service. Behaving in an ethical way in all areas of your business is a vital step, and this means in how you treat staff, everyone within your supply chain and your customers. Acting with integrity here can pay dividends for your bottom line.
So to sum up, acting with integrity is one of the most powerful tools you as a business owner can employ. Embed it within all areas of your organization and encourage your team to be as invested as you and you’ll have a successful business.
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