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| Sunday, 18 January 2004 |
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| News Business Features Editorial
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Reputation by S.R.Balachandran This is very important. You should not lose the reputation earned by you under any circumstances. There is a Tamil proverb that reputation lost for one cent will not be recouped even for one million rupees. You may have a good reputation due to the following: (a) High quality of products, hygienic attractive packaging, and good service (b) High quality of raw materials used for your final products (c) Credit-worthiness - creditors and banks (d) Compliance with all legal regulations (e) Good customer relationship (f) Good employer-employee relationship You should take utmost care regarding your reputation. There are customers who after enjoying credit from suppliers, inform banks to stop payment of their cheques. They do not have the courtesy to advise the supplier early. When questioned by suppliers, they come out with various stories. Some pay their dues in instalments and wish to have continuous credit. This is a typical example where you spoil your reputation. Similarly, when you are unable to settle your dues to your bank, you must explain the position in advance. When you are faced with a financial problem, if necessary, you should have additional security for enhanced credit facilities, or otherwise, you will lose you reputation and credit granted by the bank may be reduced altogether. Reputation is important not only in business, but in every aspect. Dr. Anagarika Dharmapala maintained a very high reputation from his activities and brought honour to Sri Lanka. Nepali Ghurkha solders are well-known for their devotion to their masters. They are always preferred as home guards in all states of India. They served in the British Army. At present there is a strong branch of Ghurkhas in the Indian Army. I need not specifically mention the presidents of the United States, Messrs Clinton and Nixon, and the way they spoilt their reputation and their political carrier. Therefore, to be a successful entrepreneur, please maintain your reputation and originality. |
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