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Survival Tactics |
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Many are the stories of entrepreneurs who did whatever it took to survive, even violating their own standards. Survival is the area where most people's ethics really face a test. It's easy to be ethical when things are going your way, but what if you're facing bankruptcy or can't make payroll? What do your ethics look like then? Small firms, especially in the early years, are vulnerable to setbacks that would not negatively affect a large organization. The loss of a major customer or supplier could put a small business out of business. In these types of life or death situations, a small business owner's commitment to ethical practices can force the company to make some difficult decisions. Again, we reiterate the importance of sticking to your ethical code, because what you do today out of desperation, you will live with for the rest of your business career. Rent apartment Bucharest One entrepreneur whose company, Haven Corporation—a manufacturer of products for the mail-order industry—had a history of cash flow problems finally reached the point where it was time for him to close the doors. It was a tough decision because the entrepreneur felt a profound sense of duty to his fanatically loyal employees and customers who would be stranded by his decision, But, as he said in the e-mail he sent out to his customers and suppliers, the company could not pay its bills and he was personally $100,000 in debt. Little did the entrepreneur know but his e-mail tactic turned out to be a survival tactic. Over 400 customers began communicating with each other to seek technical help, to bemoan the loss of the company and to begin to generate some ideas for how to resurrect it. Out of the rush of communications came the person who would ultimately raise the money to breathe life back into the company. |
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