Sunday, September 14, 2008
The truth about doing business today - Money, People or Conscience, which comes first?
With the challenges in today's economic hard times businesses either big, small or micro enterprises are facing the hard times they never had in decades.
The truth is really to face today as what really has happened when every business wants to salvage their dreams, their employees, their ideals and survival. If big institutions like Lehman Brothers are on the brink of collapse, what can more small independent small business be like.
For the $10 sale if someone is lucky for today's sale, it we not been enough for the huge bank overdfraft fees, and non-sufficienr charges that the banks and lenders will have to imposed to these entrepreneurs having the $10 sale of the day.
Yet, the above subject matters can be lenthily discussed and argue but I would like to deviate on the impact on the employee morale, insecurities, and customer disatisfaction from long time patriontic customers.
Lately, indiustries like hospitality has had really big challenges on brands being franchise. Consistently in service, brand and guest experiences
Franchised Full service hotel brands have to cut or lay of high and middle level managers and have their family fill in this positions. The service standards comes a bit shaken as there are missing parts of the sturcture. The importance of not having a Human Resurces Dept. team and strategies makes the systems more vulnerable to a lot of issues.
Turn over, training, personal interest, and who has the clout is now affected by almost a family owned entreprise. It would have not been bad if it was a growing company but not a company with a full service known brand.
I guess the bottom line question is "Can full service hotel properties" be operated like a family owned economy lodging to save on cost but at the same tiem deliver the same standards and service expected by the guests who patronize the reknowned brand.
Another is also affects not just the kind of guests we attract but also the employees that we are trying to hire to work for us while helping us promote and market the business as they feel great on being a part of the team.
I guess, enterpreneuers have different goals. Some are pro-money whatever it takes, some are money and taking caring of the guests but not too emplyee focus, and yet some are money, employees and guest focus.
A lot of people say that only big companies who have the financial resources can do the great balance of the money, employees and customers. But I guess, no mater if we are selling hotdogs on the streets, a newspaper venedor or a small cafe, it still starts from the entrepreneur on why did he/she went into business.
Personally, I would rather do the right things and fail or closed shop but at least have that feeling that I did my best to be fair. Than, be holding the world of greed, lying down with so much money but still on the back of our mind have some kind of myth of conscience or karma.
So if you are an entrepreneur, which do you want to become?
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