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Friday, July 28, 2006

I was listening to a speaker on ethics and morals in buisness....I wonder if there is a point in an Entrepreneurs life when that runs out ....


I try to be ethical and moral in my dealings....I expect that others deaing with me will be also..but I never assume that they will be..my dealings with other cultures in business has shown that there is a sometimes a gulf in what you percieve as moral and ethical and the beliefs off you business partner....this is an area that can cause a lot off grief in any business and personal relationship...wether it is a customer..supplier...employee ..partner or lover...this is an area that you need to understand very quickly in a newly developing partnership...if the relationship is a major part off your business..then invest the time..to find out about your partner...use your network to explore the periferal off the relationship...and understand what you are getting into.....as an example....There was a major asian supplier to a SME....the senior manager in the SME was under extreme pressure to get parts from the supplier at a reduced leadtime....the supplier helped him out....two months later the supplier was in trouble and needed a favor from the SME....the SME was not in a position to help out..as the deal involved storing inventory for the Supplier and shipping on to another party to avoid tarrif rules..the supplier then stop shipments off parts to the SME which did not have the resource to bring on-line there 2nd source quick enough...the SME suffered ....

The point I am trying to make and maybe not doing to well...is that business is all about relationships and people ...you need to understand your partners motivation....and make sure it is alinged with your own.....Business and life is not all about making money....and the old saying there is never a free lunch....well just make sure you know what maybe be asked in return for you free lunch.....


Hope you have a great weekend...


Slainte
Keltie

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