Happy Holidays! I am turning my attention to the new year and beginning to wonder what the business landscape holds in 2009. Every year it seems we are greeted by surprises that cause significant changes to the marketplace. Looking back on 2008 certain themes took root and will continue for some time.
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December 2008 Archives
I expect business owners and managers are fearful as ever about the risks of doing business. I recently read a report of a collection company agreeing to a settlement of $2.25M (
http://www.lvbusinesspress.com/articles/2008/12/01/news/iq_25350820.txt) to avoid proceedings related to complaints for violation of the Fair Debt Collection Practices Act. Essentially, the company was accused of using unfair practices such as threats of wage garnishments and other tactics that are illegal.
What is not discussed is whether the company documented its calls to prove its innocence or not? I must assume any business person would establish their business with the intention of complying with applicable regulations in the attempt to earn a good profit and KEEP it. If that was the case, a recording system would be useful both to verify compliant practices and train the staff on how to consistently use compliant practices.
When such an extreme case is presented it begs the question how can any business driving the majority of its revenues and profits via telecommunications NOT document those transactions for protection at minimum?
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What is not discussed is whether the company documented its calls to prove its innocence or not? I must assume any business person would establish their business with the intention of complying with applicable regulations in the attempt to earn a good profit and KEEP it. If that was the case, a recording system would be useful both to verify compliant practices and train the staff on how to consistently use compliant practices.
When such an extreme case is presented it begs the question how can any business driving the majority of its revenues and profits via telecommunications NOT document those transactions for protection at minimum?
I met a friend for lunch yesterday and we got onto the topic of unions. He spent a number of years running his own engineering company in Phoenix and he was recounting a time with his first employer, an engineering and fabrication company. The business was quite successful, more so than its competitors at the time. The owner paid fair wages based on each person's output, but the workers began talk of unionizing anyway.
My friend told me that the owner held a company meeting and made it clear if the union came in he would close the business. The owner said the introduction of unions to their competitors was one of the reasons they were winning business, and that some of those companies had even closed their doors because they were no longer competitive.
Well, the workers had a union rep come in for a meeting anyway. The owner decided to attend the meeting to hear what was said. During the meeting, the union rep stood up and announced "here are the exact numbers for this business - look how much profit it is making!" At this point, the owner quietly slipped out and called the police. He returned to the meeting, stood up and asked "where did you get that information?" The union rep stammered and wavered, not giving a direct answer. The owner finally told the crowd that the only copy of those numbers was held in his personal safe with no copies anywhere else. The police entered the room and took the union rep away. He had broken into the safe at some point prior to the meeting to secure the information in an attempt to win over the workers.