Think Tank Topic: Business Ethics

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Aug 07 2020 64 mins   1
ELITE : SIX Think Tank meetings are discussed over Zoom with our members every Friday at 9:30 am. Facilitated by DANNY : DE HEK meetings are recorded for our Podcast, we’ve been doing this since COVID-19 if you’re interested in joining in with us check out our website at EXPERIENCES Refunding clients that overpayAct honourablySuccessful businesses who are acting ethically will always enhance their reputationReputation can be damagedYour ethics should relate to the culture of your businessWhen clients advise that they no longer wish to be a client , any subsequent subscription payments should be refunded. If alternatively the member continues to pay and does not advise that they no longer want to be a member any refund should only cover from date of that advice.Ethics in business is related to your own ethics. Conduct yourself as you feel is correct.The values we apply to functioning within our business. PROBLEMS Admin takes timeMay not get repeat clients if you aren’t ethicalAre ethics related to the emotional center and conduct of your business or related to the systems your customers experience?Terms and conditions need to be clearSome companies don’t have T&C’s, can backfireEthics are in the eye of the beholder – what’s ethical to somebody may well be not be to another. SOLUTIONS Have an admin fee if people overpayMake phone call to clients not emails as emails get overlookedHave a contract for a certain timeframeHave clear Terms and Conditions, including around termination and refunds.Pause before you react to situations to ensure your reaction matches your ethics. TAKES AWAY Ethical decisions can be difficult to resolve – a good guide is to treat others as we’d like to be treated.Give the money backHearing people viewsAfter all, time will help heal your heart NEXT WEEKS TOPIC - MANAGING CLIENTS