Honesty and integrity in business

During this guide we will be addressing one of the most important topics when it comes to doing business, since it involves our values and principles projected towards third parties. Honesty and integrity are two of the most appreciated values that a company can present to its competitors, partners and customers. These values shape the way in which your company is perceived by other people, that is why you must work on being constant in maintaining them. Honesty and integrity as values are very significant when it comes to establishing successful agreements, influencing the trust that we can generate in those who seek to relate to our business.

Below we will be addressing some of the basic concepts related to this topic.

What is honesty in business?

Honesty in business is represented by the way in which companies interact with their market, how they present their products and what trust they transmit to their customers. When a company behaves in an honest way, it achieves customer loyalty, while dishonesty leads to a progressive loss of market confidence and therefore to a devaluation of the business.

A very common mistake of new ventures is to manage their advertising in a misleading way, where advertising campaigns are usually carried out in an exaggerated way, promising products that do not meet the needs of customers and causing dissatisfaction by not being able to meet the expectations generated. Try to be sincere with the quality and functions with which your product or service fulfills, although you can reach fewer customers, they will feel grateful to know that they have received what they wanted and that they will be able to trust your company in the near future.

The same applies to relationships with your partners and investors. Do not exaggerate your results or make up your reports with the intention of pretending that your growth is greater than it is. Not only is this attitude illegal, but sooner or later you will be found out and lose the support of all those who trusted you.

What is integrity in business?

Integrity in business is a more complex value to sustain over time than honesty. This is because integrity refers to a whole system of beliefs and values that includes responsibility, discipline, transparency, respect, among others. A company with integrity is a company with solid morals; it acts and manages in a coherent manner, so it will never betray its principles and values.

Integrity must be practiced on a daily basis, through the proper treatment of third parties