Putting integrity first in the marketplace

Hey there, time traveller!
This article was published 26/05/2020 (2125 days ago), so information in it may no longer be current.

It’s not clear where people pick up the habit of lying by omission.

It seems almost second nature to some. Why wouldn’t we give all the good details about ourselves, an activity, or a situation and leave out the bad?

Doing this may not feel as morally wrong as an outright falsification but it is just as damaging to all involved. And there’s one place where this type of deceit seems especially pervasive — the marketplace.

How many times have you bought something that you didn’t have the whole story about? It could have been as small as a lamp with a short-circuiting wire or as big as an unstable foundation on a new house. Sometimes you’re left with no recourse, because you made the transaction and there are no clauses or policies to save you. It’s a terrible feeling — regret mixed with shame and anger and stress.

The Better Business Bureau works with companies to prevent these transactions and these feelings. Companies that proudly display the blue BBB seal are held to higher standards of transparency and honesty than others. That means telling the whole truth without delay. It means telling a customer everything they need to know about the product or service, as well as all business policies that bear on their decision to buy. Advertise honestly, tell the truth, and be transparent are three of eight items that make up the BBB’s code of business practices.

The first item in the code? Build trust. This, in itself, entails many practices that business owners must be cognizant of. They must create their own policies, from how they hire to how they communicate with the public. They need to ensure every decision is one that would help them build trust rather than break it. This helps them establish and maintain positive track records in the marketplace.

Maintaining a positive reputation also requires them to honour their promises, to be responsive to concerns and feedback and to safeguard privacy. Since businesses collect customers’ information, they must take care in handling it and respect their customers’ preferences on how it is used.

Most of all, companies with BBB accreditation must act with integrity. It is the eighth and final item in the code and perhaps the most important. It applies to every action, every decision made behind closed doors. Businesses with the BBB seal must operate with integrity at top of mind.

All these business practices don’t just benefit consumers; they benefit the businesses themselves. Customers consistently return to places where they’ve had good experiences, and they refer others. A trustworthy marketplace benefits both the consumer and the business, and it’s the goal the BBB continues to strive for. Visit bbb.org before you buy.