How do you define an Honest Business?


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Del_CtrlnoAlt

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Feb 15, 2003
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#1
Something just struck me... and i think & think... no answer...

ok, so whats an HONEST BUSINESS?

Its like, buying for 10 bucks, sell at 20% profit, 12 bucks = Honest? or buy 10 bucks, sell at 20 bucks = Dishonest? cos some ppl think that if A shop sells cheaper than Shop B then B shop is dishonest...

Then if 1 say that they are manufacturers in fact they are only reseller, are they labelled as dishonest? but due to fact that IF they are not manufacturers they don't have a business, then should they continue to be named as manufacturers which they are not?

cheem.. thats something about living in the 21th Century that i dun get... esp if i wanna go to heaven...
 

Mar 16, 2005
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#3
when comes to such 'grey' areas, i tend to like to relate to something my sergents told us recruits back when first enlisted..that i never forgotten.


"You can do whatever you like, but just dont get caught."
 

SnapSnap

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Sep 1, 2004
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#4
Actually, between 20% profit and 100% profit, it is greed...
Honest or not is about the way they sell the product to you... if they tell you the camera can be used to make a phone call when it cannot, they are dishonest.
 

Astin

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Mar 2, 2002
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#5
Retail business is also a business, they pay rental, hire staffs, decorate the shop, carry the stocks in house, buy insurance, pay tax, all these are cost to them.
Some shops pay higher rental, higher salary, etc, so the cost of them is higher, so they will formulae to sell to the retail customer at higher price.
 

Yeowww

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Mar 6, 2004
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#6
SnapSnap said:
... if they tell you the camera can be used to make a phone call when it cannot, they are dishonest.
errr....sorry sir, it's an honest mistake bcos i didnt received proper product training :embrass:
 

Mar 16, 2005
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#7
Yeowww said:
errr....sorry sir, it's an honest mistake bcos i didnt received proper product training :embrass:
"I am the Manager here whats the matter? I am sorry sir, but I am certain you must have heard wrongly. We are in business for over 20 years and any person on the streets can tell the difference between a camera and a camera PHONE. How can our well-trained staff give you the wrong impression or wrong info? I find that impossible to accept or believe. We like to inform you once again it is stated in the receipts and our store policy, goods sold are not refundable or exchangeable. What I can do is perhaps offer you a 10% discount on any camera phone you may wish to purchase next, other that I am sorry but this is the best we can do. We had tried our best to meet your expectations, but if you wish to report this matter, then I felt that our stand has been very clear."
 

Drudkh

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Mar 2, 2004
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#9
itisnottheendorg said:
"I am the Manager here whats the matter? I am sorry sir, but I am certain you must have heard wrongly. We are in business for over 20 years and any person on the streets can tell the difference between a camera and a camera PHONE. How can our well-trained staff give you the wrong impression or wrong info? I find that impossible to accept or believe. We like to inform you once again it is stated in the receipts and our store policy, goods sold are not refundable or exchangeable. What I can do is perhaps offer you a 10% discount on any camera phone you may wish to purchase next, other that I am sorry but this is the best we can do. We had tried our best to meet your expectations, but if you wish to report this matter, then I felt that our stand has been very clear."
burn down the shop!
 

dnd8008

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Feb 25, 2005
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#10
Drudkh said:
burn down the shop!
Hahahaha! Like that, many shops may have been burnt down already.... read thread on HDD bought in SL :bsmilie:
 

sykestang

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#11
All business and dealings can be summarised as follows:
i. The Seller offer a price.
ii. The Buyer agreed and accepted the price with consideration.
iii. The Seller accept the buyer acceptance of the price with consideration.
iii. The deal/contract is closed. Transaction done!

The term 'dishonest' will comes in between the 2 considerations point of the buyer & seller. Has he/she (buyer/seller):
i. Given enough time to consider,
ii. Under some sort of circumstance stress when he/she makes the decision
iii. Has been mislead/misrepresented by any party etc.

Personally I would consider any acts of the points as dishonest.

Here are some examples to emphasis my points:
Example 1
Most recent cases of those damn time sharing marketing schemes. Someone will call you claiming that you win an travel package/expensive prize. Misleading some to attend some sort of talk. After which they will put you in some sort of stress and do not let you leave the place without signing up for some packages. And at the end of the day, even if you do sign up the package, they will give you some crap prize, very much different from what the told you over the phone earlier.

Example 2
When you want to purchase some goods/services. The sales person claimed that, that particular item can perform some fantastic features. He would sound so confident and give you so much assurance which make you trust him. All these is done intentionally. However after you buy, and start reading the manuals, you found that whatever the salesperson told you earlier are crap. So you have been misled and misrepresented in buying that product.

Example 3
When you are choosing some things from a store. A sales person keeps following you and pestering you to choose quickly. The more funny thing is that, this sales person can seems to read your mind, every item you set eyes on, he/she would tell you that it is the best and will suit you, blah, blah, blah. Moreover, if you decide not to buy that particular brand and choose another brand of similar product, this sales person will quickly takes back all his words previously on the previous brand. He will even go into banish/tarnish the previous brand and move on to the new brand you have just selected. His motive is to close the sales quickly so that you will make a haste decision which normally you'd regret it later.

I've personally witness such acts performed by a camera shop in funan 3rd storey, Shop Name: Jxxxxxx. A tourist went to the shops looking for DSLR camera, the sales person introduce Nikon D70 to the tourist... the sales person sells D70 as if it is the top of the world. However mid way through when the tourist decided to buy the D70, the sales person then realise that they have runs out of stock. Then suddenly the sales person change his praises on D70 and now introduces Canon 300D. He even go into tanishing Nikon by saying that the after sales service is no good just to hope that he can now sell his 300D as he got no more stock of the D70.
 

ortega

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Nov 2, 2004
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#12
Del_CtrlnoAlt said:
ok, so whats an HONEST BUSINESS?
you buy item for $10

you tell your customer your cost and say you only mark up $2

that is an honest business.
But this kind of business is sure to fail because in today's world nobody will believe you
and say you are trying to cheat them :)
 

Mar 16, 2005
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#13
dnd8008 said:
Hahahaha! Like that, many shops may have been burnt down already.... read thread on HDD bought in SL :bsmilie:

HAHHAHAHAHA... spot on.
 

Mar 16, 2005
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#15
i once hear of this story by my marketing lecturer..

"theres a local HONEST graduate who has a flash of inspiration and decided to sell luxury french lingeree in singapore. he came across a mixture of old and new stocks which he got a bargain basement price. so for every $0.50 cost per pc, he put up a booth selling at $1. thats a mighty 100% profit isnt it? he thought. strangely not one pc was sold for 1 mth. he finally humbled himself and ask potential on-lookers. the feedback he got was 'these cant be french becos its TOO cheap.' since he rose the price to $50 a pc and everything was sold in an afternoon."
 

SnapSnap

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Sep 1, 2004
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#16
ortega said:
you buy item for $10

you tell your customer your cost and say you only mark up $2

that is an honest business.
But this kind of business is sure to fail because in today's world nobody will believe you
and say you are trying to cheat them :)
Customer will say, "Why you earn so much? Sell me at $10.50 lah... You still earn $0.50..." :sweat:
 

Mar 16, 2005
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#17
I was vaguely amused by this flwg funny statement once made by an associate in business...

"A lot of people starting off in business didnt realise that R.C.P - Reputation, Credibility and Popularity is not about making as many people happy with you all the time, thats a bonus reserved for the privileged! just to survive, rather they should focus on NOT making as many people NOT happy with you AT ANY ONE SINGLE TIME, so there isnt enough critical bulk of negative impact to flip you over any one point of your operation while you are still building it up!..Me?...i just see it as REALLY CRAZY PROFITS!..hahha!"
 

dnd8008

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Feb 25, 2005
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#18
Sion said:
A "honest" business is the camera shop that sells cameras to us at a loss.

A "dishonest" business is the camera shop that don't give us big discounts, free lens cleaner, free camera straps, free UV filters and a free drink.

:)
Hahaha, Sion, by your definition:

"honest" business = bankrupt business!!! :bsmilie:
 

Astin

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Mar 2, 2002
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#19
U guys should read the Straits Times today. There is an article about 5 first-timer retailers, no experience in retail, setup shops in Tekka Mall, and within a short time, all went bust and close down. This would make a classic example for marketing tutorial.
 

Mar 16, 2005
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#20
aiya..

honesty is like great sex....yeah everyone boasts about it...but where the H*LL is it when you need it!?
 

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