Ethics-Governance: Article: How to Increase Profitability by Doing the Right Thing

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How to Increase Profitability by Doing the Right Thing How to Increase Profitability by Doing the Right Thing Shel Horowitz, founder of the Business Ethics Pledge and author of Principled Profit: Marketing That Puts People First, offers five tips on... 1. Base your business in the Magic Triangle. Honesty, integrity, and quality are the three sides of the Magic Triangle of business success. Create the kind of company that stands for something more than the bottom line, and your bottom line will increase. 2. Stop worrying about market share. The world has more than enough customers for you. When you embrace abundance--the idea that the universe provides enough to go around--all the energy you've put into chopping down competitors can be channeled into productive, growth-enhancing activities. Example: By opening up the PC architecture many years ago, IBM dropped its market share--but created a vast expansion in the overall market (and its PC revenues). 3. Partner with your competitors. It may sound counter-intuitive, but competing and complementary businesses can become your best sales agents. Full Article: http://www.frugalmarketing.com/dtb/right-thing.shtml


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