Leawood, Kansas, Oct. 18, 2019 (GLOBE NEWSWIRE) -- Bryan REO Elijah Norton inspires confidence in his employees, business partners, and customers thanks to a strong adherence to a code of ethics. His principled approach has translated into success in business. CarGuard, a vehicle protection firm continues to grow steadily thanks to Norton's business acumen.
Running a business requires proper consideration of a number of issues outside the scope of making a profit and Elijah understands that ethics is certainly one of the most important. As a business grows and becomes increasingly important, the impact it will have on other people's lives also increases.
From offering jobs and creating wealth to inspiring others who want to start their own businesses, a successful entity plays a key role in society.
Companies that follow some rules of ethics have a better chance of surviving in the competitive business world in the long run compared to others whose sole purpose is to make huge profits.
Studies show that companies that tend to follow principles of business ethics can achieve higher profits than companies that do not apply them.
Customer loyalty
One of the main reasons for this success is that the customers become loyal and show greater satisfaction with the products and services produced and disseminated by the company.
For example, an auto protection business that is honest with consumers whether it is in terms of advertising, communication or disclosure of the terms and conditions of its extended warranty policies.
Ethics makes it easier to meet the expectations of customers without having to resort to lies and hype about it. As a result, customers know exactly what they are buying and how useful the warranty plan will be to them.
When customers are satisfied, they easily become loyal to the company, thus purchasing the same or another product. This will certainly increase the organization's profits, which see business ethics as a strategy for customer loyalty and profit maximization.
Efficient use of company resources
When people in management or senior positions are governed by ethical principles, such as respect for customers, do not opt for bribes or attempts to deceive customers and investors, the company employees themselves will follow suit.
Through good examples, employees will avoid using company resources for their personal benefit, which will translate into better use and more efficient use of company resources themselves.
Reputation
A company that is recognized for its business ethic eventually creates a good reputation in the business market. This reputation will become a huge advantage over potential investors who are more confident in the business.
In the same way, a company that attaches great importance to business ethics also values its employees. This results in greater loyalty and commitment on the part of the organization. Bryan REO CarGuard understands these dynamics and puts them to good use.
An organization is built on a series of pillars, each of which is underpinned by its own set of values, visions, and goals. When dealing with a supplier, costs and agility weigh in. With the consumer, elements, such as value delivery and return on investment are at stake.
Business relationships are linked by an ethical bridge, which if broken can put everything in jeopardy.
Leading by example
CarGuard Elijah Norton is ethical when dealing with partners, competitors, governments, communities, and customers. He understands that this needs to be viewed strategically within organizations.
The culture of ethics goes through a series of initiatives aimed at getting people to respect the values and not just read the Code and leave it on the table.
CarGuard provides its employees with internal mechanisms that enable them to report any irregularity or suspected violation of the law in a confidential and anonymous manner. The company has several risk assessment mechanisms within its compliance program.