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The relationship between truth and business

Meltzer, D., (2017). Why the Truth Is So Important to Your Business. Entrepreneur.

Meltzer (2016) postulates that the primary reason individuals, entrepreneurs, and business administrators speak the truth is that the truth always comes out. The author clarifies that there are two types of truth necessary. One of the most significant truths is the one spoken by the business. The article explains that the business is responsible for all the dealings thus, must always give accurate information to the customers. Giving the customers inaccurate information only affects the business’ reputation. Moreover, when the clients realise that they were lied to, they are likely to stop working with such a firm. In addition, they can inform others about their experience, which might affect customer loyalty and the overall performance of the business.

            According to Meltzer, truth can also be told by others about a business. In this case, clients usually have varying opinions about a business depending on the services or products provided. If the products and services are good, the customers pass good messages about the providers to others. On the other hand, if the products and services are bad or poor, bad clients have bad sentiments, which they pass to others. An operating business is thought to be at the centre of criticism and support by outsiders depending on the services or products provided. Ideally, this author elaborates that competitors would also give others information concerning your business. Nevertheless, Meltzer (2016) maintains that this information given by others must also be accurate and true. Speaking the truth helps a business to establish a reputable brand image. When businesses give false information, the customers are scared away. The result might affect customer loyalty and eventually, the customers might walk away.

            In this article, the truth is considered priceless in business operations. The author acknowledges that truth cannot be bought, as is the case with all the other things sold in a business. However, truth can be worth a lot to a business or a company in terms of damage. Businesses that do not give customers and stakeholders the right information tend to incur severe damages. However, businesses that thrive in truth are more vibrant and sustainable. Ideally, the higher the accountability rate, the higher the chances of being successful. It is justifiable that truth is equal to accountability. Meltzer (2016) opines that lack of truth in most businesses is the primary reason for failure. Most businesses make the mistake of giving false information to their potential stakeholders.

            If one speaks the truth, it is possible to control business operations with ease. Nevertheless, businesses that cannot tell the truth to their stakeholders are considered to have control of the outsiders. When customers realise that one does not tell the truth, it will be easy to sabotage the business (Meltzer, 2016). Nevertheless, a person who maintains truth throughout his business has the advantage of controlling the customers easily. While many entrepreneurs may ignore the truth in their businesses, it is evident that truth is one of the powerful marketing elements. Customers who realise that the business is accurate in terms of the information provided tend to have an easier time convincing their customers. However, businesses that thrive in falsehood may invest a lot to convince their customers.

            When mistakes happen, one must be ready to forgive, speak the truth and begin again. Meltzer explains that most businesses tend to have difficulty in telling the truth when the mistake has been done. According to the author, lying about the mistakes that a company is going through does not resolve the mistakes, but rather prolongs the mistakes done. This article is critical in advising the entrepreneurs on how to embrace truth in their businesses. On the other side, this article is useful in future research as it explains the relationship between success and telling the truth to customers.

Tracy, B., (2016). The Importance of Honesty and Integrity in Business. Entrepreneur.

            Management of a business requires strong leadership skills and high integrity. However, not all leaders have high integrity required for successful businesses. Tracy (2016) explains that integrity help leaders to often speak the truth concerning their businesses. In this analysis, the author reiterates that truth translates to success. Truth and honesty should be practised by all the business leaders. Leaders who are dishonest often place their businesses at risk of losing customers. Tracy (2016) quotes a book that describes winners as non-cheaters. According to the writer, being able to protect business principles helps firms achieve greater success.

            Tracy (2016) further explains that leaders must always represent the truth, which they must also believe in. Most of the successful billionaires are those who stand firm on the truth and remain uncompromised by falsehood. In addition, they compel others to be truthful in everything they do, which explains the success of their firms. On the other hand, the writer admits that speaking the truth will allow businesses to do things that are right only, which furthers the growth of a firm. Doing things that are not right is considered dishonesty, which may have serious consequences on a firm. Moreover, clients like purchasing products and services from such businesses and encourage others to do so as well. For leaders who lack integrity, doing things the wrong way might not be difficult. However, Tracy explains that the result of telling lies by a business is a tremendous failure.

            The author posits that leaders are never afraid of the truth. Businesses should employ leaders who will be able to face challenges without fear. The author believes that any leader who is afraid of telling the truth about the business is not a successful leader. Maintaining a truthful culture builds a strong image that will continuously attract customers. However, the article explains that it is difficult to tell lies repeatedly and manage to convince the customers effectively. Besides, it is a challenge to hide anything from them for long, especially in the interconnected world today. Tracy further writes that mistakes done by truthful leaders include speaking the truth at all times. The truthful leaders may be blamed for being fair, but this only favours the progression of the business.

            To speak the truth, leaders must be confident and honest with the stakeholders. Lack of confidence among some leaders is one of the causes of falsehood in the majority of the businesses around the world. Confidence and truth are thought to be related. Tracy describes an honest leader as someone with confidence and exhibits high integrity. With no confidence, a leader may not keep up with the needs of the business. As such, the less confidence makes it easier for the leaders to be compromised by the falsehood. On the other side, managing businesses come with myriad challenges that require a collective approach by leaders to develop a culture of truthfulness. Without an established organisational culture, the leaders may not be able to sustain the truthfulness in their companies. In fact, operations may be compromised since the leaders and followers may not trust each other.

            Tracy points out that truthfulness must be perceived as an organisational culture to ensure that the majority of stakeholders are truthful. Additionally, leaders must exhibit the necessary confidence to speak the truth at all times. It is necessary to explain to the customers the reason telling the truth is necessary. Leaders who understand their roles will maintain truthfulness even when others are compromised. As such, a business must fulfil all their promises in which case they should make promises that are attainable to avoid giving false hopes to customers. This article is important in teaching leaders about honesty and integrity.

References

Meltzer, D., (2017). Why the Truth Is So Important to Your Business. Entrepreneur.

Tracy, B., (2016). The Importance of Honesty and Integrity in Business. Entrepreneur.

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