Monday, 22 May 2017

Business Culture: Drawing your line between friendship or relationship and value.

Before I discuss in deep about how to draw your line between friendship or relationship in order to have a business value to your product(s) and service(s). It is very paramount for us to understand business culture.

Business culture can be said as the attribute(s) that you apply to make your products and services cut across every demography through the manner your employees and management interact and handle business transaction.

In as much as we want to keep a healthy friendship or relationship to people that matter in our business circles; it is equally important that we maintain an enviable business value applicable to our products and services so that our business will not be compromised or pocketed; out of mishandling of business transaction or business interaction from people that bring food to our corporate table.

Once a value is put on a product or service; it is a crucial role that every player in a business entity to uphold. This is very important to avoid a decline in value as a compromised business value is like virus. It destroys everything just in a twinkle of an eye.

We must be careful to allow favourism, preferential treatments, nepotism, political-side-picking ruin the heart of our business. Whatever that looses value is not longer in demand. The best business culture is to maintain a good friendship or relationship status between business partners, affiliates, investors, customers and employees and management team that doesn't allow one party having a corrupt agenda over another.

According to a latest release by Chatham House via The Guardian Nigeria; about how Nigeria loses a grand total of $480 Billion via shading deals in 54 years. According to the report, titled “Collective Action on Corruption in Nigeria, a Social Norms Approach to Connecting Societies and Institutions,” said that close to $400 billion was stolen from Nigeria’s public accounts from 1960 to 1999.

It added that between 2005 and 2014, $182 billion was lost through illicit financial flows from the country. This stolen commonwealth, the report observed, represents the investment gaps in building and equipping modern hospitals to reduce Nigeria’s exceptionally high maternal mortality rates estimated at two out of every 10 global maternal deaths.

British Ambassador to Nigeria, Mr. Paul Awkright, noted that corruption is bad for people and business. “Corruption fuels inequality, holds back development and it is a threat to national development of countries,” he said.

In the same vein; South African economy, they say has been pocketed by "The Guptas". The Guptas who has a strong friendship with some key leaders in the country has been rumoured to be enjoying jolly preferential treatments from the nook and cranny of business authority in the rainbow nation.

Drawing a straight line between friendship or relationship and applying your just business value shouldn't be that hard to attain.Is a matter of not allowing anyone that's not playing the pipe to dictate the tune for your business regardless of the role the person plays in or outside your business circle.

I must confess "once you apply and adhere to your business principle which can be referred to as business culture; people would respect your business and thereby bringing value appreciation to it"

By Olagunju, Success Taiwo.

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