Observe the Golden Rule in Business
Posted on July 17, 2008
If two parties are on opposite sides of a contract and they want to reach a win-win resolution, that means that they must observe the Golden Rule during negotiations. Specifically, both parties must treat each other fairly and be completely honest. They also need to communicate openly and not withhold relevant information. There should be full disclosure of any facts relevant to the transaction.
Respect is one of the most important elements of treating people well. Both parties must respect each others time, needs, finances, family situation, and any other circumstance that may affect the negotiations. As part of showing respect, each party should treat the other party professionally and conduct themselves professionally. There should never be anger or raised voices.
Both parties should be committed to a resolution that will be agreeable to both of them. Neither party should ever look for ways to take advantage of the other party. Before the negotiations start, they should both agree to a method of resolving an impasse on an important issue. To avoid the expense and delay of litigation, they should agree to have the issue decided by a mediator. They should also agree to abide by the mediators decision.
Both parties should greet other with courtesy, and they should be on time for meetings. They should also abide by any time limits set for the meetings, but agree to schedule a follow-up meeting if they still have issues to resolve. They should keep confident any information that either party wants to keep confident. Once they reach an agreement, they should reduce the agreement with complete accuracy.
At the end of the meeting, they should shake hands and thank the other person for their time and courtesy. The Golden Rule is so simple. It is also appropriate in any situation, even in business.
About the author
Jo Ann Joy, Esq., MBA, CEO
Copyright 2006 Indigo Business Solutions. All rights reserved.
The future of your business starts here.
You may contact Jo Ann by phone at (602) 663-7007, by fax at (602) 324-7582, by email at joannjoy@Indigo Business Solutions.net, and by mail at 2313 East Ocotillo Road, Phoenix, AZ 85016
Jo Ann Joy is the CEO and owner of Indigo Business Solutions, a legal and business consulting firm. Indigo Business Solutions is a one stop shop for small businesses. We differ from other business consulting firms, because we offer comprehensive legal and business counseling. We can offer most of the professional services that a business requires. We work with our clients to develop strategies that create value and competitive advantage.
Jo Ann has a law degree, an MBA, and a degree in Economics, but she is not a traditional attorney. Rather, she is a strategic business attorney who works closely with clients to create and implement strategies that will greatly improve their performance and chance of success. Her background includes commercial and real estate law, accounting, financial planning, mortgages, marketing, product development, banking, and business strategies. She ran a successful business for 10 years, and she has written and given presentations on many different legal and business subjects.
Wearing Your Heart On Your Vest - Manners and Etiquette
Jorge was a young construction worker, sitting near the front of the bus. Natasha was an older lady confined to a wheelchair. She asked him about his ...
Give ’Em Somethin’ To Talk About
When your name is mentioned, what is said about you? Do people say you're lazy or a hard worker? Do they say you're nice or a name I can't mention? Do...
Competitors and Local Code Enforcement
If you are a small businessperson then chances are you have had a situation occur where another small business or larger competitor has used the local...
Two Important Keys to a Successful Business-Integrity and Reputation
As a business owner and coach, I come across the issue of building integrity and reputation on a daily basis. It is something I feel strongly about, ...
Planning a 50th Wedding Anniversary Party
If you're planning a 50th wedding anniversary party for your parents or close friends, there are a few things to consider. Since gold is the traditio...
Business Ethics - High Ethical Standards In Business 100% Of The Time - 5 Principals Of Success
Business ethics maintained as a high standard in your business 100% of the time should not be an option, it should be your rule, a rule never to be br...
What Has Happened To Business Ethics?
What has happened to our society over the last few decades? Have we improved our level of understanding of the fundamental principles of life? Have we...
Computer Security - Four Rules You Need to Know
Computer security is on a lot of people's minds. And there are lots of companies out there offering all sorts of ways to stay hack proof. Most high-...
Student Debt Loan Consolidation - 4 Words To Strike Fear Into Any Student
It's one of those unavoidable things - like death and taxes.If you go into any period of extended study for further qualifications - you're going to p...
Home Mortgage Loans For First Time Buyers - 5 Rules For Success
Buying a house will probably be the biggest investment that you will ever make. For those of you who are purchasing your first house, although the pro...
Ethics In The Workplace
Workplace Ethics is a subject that we have all heard of. In fact, the subject of Ethics in general is something that most people are familiar with. An...
Student Loans - Student Loan Consolidation Online
The internet has made the world so much easier and simpler, this is no different when it comes to student loan consolidation online. There are a vast ...
Humor, Intimacy, & Golden Anniversaries
You want to reach your Golden Wedding Anniversary? Than laugh with your partner, a lot. A great deal of evidence suggests that this is one of the stro...
Golden Swiss Steak
I was just pouring an icy cold glass of tea as our neighbor Ginny announced her presence in the kitchen in the usual way, by giving a short dry cough....
Strategic Business Tips On How To Achieve Civility In Today’s Workplace
Todays workplace is very dynamic, sometimes very stressful, and too often not very civil. We certainly observe the lack of civility in the workplace ...
» Filed Under
Business Ethics Courses