The business of being professional
It goes without saying that the private sector has contributed tremendously despite many odds to development in Bangladesh. The journey in the next stretch needs to be very different than the last 40 years, as sticking to the same approach will only lead to failure. In order to take business to the next level, all organisations need to improve their professional business practices, taking into account simple issues, like starting the meeting or event on time, respecting other people's privacy, keeping commitments with clients and employees, avoiding double standards, maintaining higher levels of transparency, and so on. It goes without saying that when an organisation constantly maintains professional business practices, this perseverance becomes their brand, as they are successfully able to create trust, credibility, loyalty, amidst a set of unique values for both their customers as well as employees.
Professional business practices go both ways; it has to come from the organisation as well as their clients. I have firsthand witnessed bank officers dealing with several customers at the same time while discussing confidential information in front of several outsiders; the funny thing is, some customers don't even mind this unprofessionalism. Undoubtedly, such a practice shouldn't become the culture in the corporate world, and customers should definitely not allow that either. When a bank, or any other corporate employee, asks personal details of their clients - for example, their salary, marital status, rent that they pay for their apartment, etc - in front of anyone else, it becomes a breach of their professional ethics. Even if the information is being collected for professional reasons, it should be noted that these details are very confidential and thus, cannot be shared in public places. The client can fill out the form in their own time privately, either in a separate room or at home.
A few years ago, when I was opening an account with a prominent bank, I discovered that it took quite a while for me to get the checkbook and the ATM card. At one point, when I needed to take out some money from my account, I spoke with an officer at the bank. Inexplicably, his solution was that he could transfer the money from my account to his account and hand over the money to me! First of all, this would have been a violation of the bank policy; let's not even get to the fact that it would be considered unethical behaviour and an unprofessional business practice.
An organisation mustn't encourage such unprofessional behaviour, while the clients should definitely protect themselves by exposing such actions. That day, I had lost my trust in the said bank, and declined to carry out further transactions with them. While it might seem natural to take shortcuts, for organisations that want to build themselves on trust and longevity, such easy routes can only lead to loss of respect and credibility.
On a recent visit to a nonprofit organisation funded by foreign donors, I was very impressed with their professionalism from the main entrance by the security guards and receptionist. I was early for the appointment, so waited in the car, However, the receptionist came to me and invited me inside to sit in the lobby. The person I was visiting hadn't reached the office yet, so the receptionist called her to inform that I was already there. When she reached the office, she met me 15 minutes before the scheduled time. This kind of considerate professionalism is very rare in Bangladesh, but it is happening - slowly but surely. Their strict pursuance of ethics is the reason why these organisations manage to earn the loyalty of their clients.
Today, the stakes are very high, and the competition is always on the rise. Thus, customers have a range of choices in front of them when compared to previous times. While an organisation's brand value is sure to suffer in the long run if they fail to follow professional ethics, on the other hand, maintaining professional practices can lead to clients feeling a sense of confidence, belonging and security. When customers are happy, they will spread the good word and this word of mouth publicity is sure to bring more clients. What other form of advertising is more desirable, affordable and effective than the compliments of a happy customer?
Maintaining professional business practices doesn't cost money; it just needs willingness. The willingness to change and implement ethical practices will do most of the work. Businesses might find some resistance from their employees and clients at the beginning, but in the long run, these challenges will seem surmountable. It's time to create our brand and let the rest of the world know that we are serious, we know what professionalism is, and we are willing to maintain that.
The writer is Assistant Professor at ULAB.