Business growth is achievable in a number of ways. However, I’m not discussing quarterly increases. I’m referring to something in a company’s culture that extends throughout its lifespan.
Dallas, TX (PRWEB) July 24, 2012
In a recent panel discussion of key executives in the payment processing industry, Kirk Mann, General Manager of Certified Payment Processing, identified two key elements, transparency and loyalty, as essential to industry growth. These factors, Mann said, are not tangible commodities but vital traits to promote in the management and employees of CPP – or for that matter, any business.
“Business growth is achievable in a number of ways,” said Mann. “However, I’m not discussing quarterly increases. I’m referring to something in a company’s culture that extends throughout its lifespan. What I’m talking about are first, transparency and second, loyalty.”
Discussing these qualities, Mann made clear that he was not addressing them as moral issues but as keys to corporate growth. “Transparency is a buzzword these days and like any word that gets used too much, it’s lost some of its original power. A short definition of transparency is ‘openness,’ which means directness and not holding anything back.”
The Function of Transparency
Mann went on to remark that transparency in a business setting means a company’s managers are open with each other and with the people in their departments. Transparency, he said, is the opposite of secretiveness. Transparency promotes trust. A business where people trust the company and each other has an important edge on companies where transparency and trust are not part of the corporate culture.
“Transparency is a long-term strategy in a business’s growth plans,” said Mann. “It promotes understanding. The more people understand their role in a company and the role of their peers and managers, then the better they understand the company as a whole and therefore the better they can be a source of support for others in the organization. That in turn promotes innovation, improves processes, enhances objectivity and ultimately fuels growth. However, there’s one big condition to this and that is that loyalty must also be present.”
Transparency, Mann explained, exposes vulnerabilities. People are naturally reluctant to make themselves vulnerable. However, if people are loyal both to the company and to each other, then they can expect that their vulnerabilities won’t be exploited.
The Function of Loyalty
“When loyalty is present,” said Mann, “There is a thread of energy woven throughout the fabric of the organization. It frees people to take risks, knowing that colleagues support them instead of waiting for them to fail. It ignites consistent performance and that in turn enables stability. Stability encourages company growth in the form of greater sales, margins and revenue.”
When a company grows, said Mann, its people benefit. For example, departments grow to fill expanding needs; larger departments require additional management. That in turn creates opportunities for motivated employees to take on responsibility and move up the management ladder.
Benefits to Company and Customers
Customers, said Mann, likewise benefit. Through growth, the company is able to expand its product line and its services. It can open up new territories and new ways of reaching out to customers. It may also adjust its pricing structure to make certain products more accessible.
Mann said in conclusion that of course it’s possible for a company to grow without transparency and loyalty. Many do. “But it’s possible for children to grow without getting the right nutrition. I’m addressing the long-term benefits of transparency and loyalty. It may take years for these to be evident, just like it may take years for poor diet to show up in a person.”
“At the end of the day,” said Mann. “Transparency and loyalty promote stable growth and that allows for a win, win, win. The employee wins. The company wins. The customer wins.”
Certified Payment Processing (CPP) is a full-service provider of electronic payment equipment for processing purchases made by debit and credit cards, as well as checks and online purchases, in addition to a range of other specialized merchant services. For nearly 20 years, CPP has helped small and medium-sized businesses increase revenue, control costs, improve efficiency, enhance processing security, and provide their customers with the most popular payment methods. With three sales entities—TransTech Merchant Group, ISIS Direct and Summit Merchant Solutions—CPP has more than 40,000 active merchants and transactions in excess of $3 billion. CPP has a support staff of 330 people to provide assistance to hundreds of field sales representatives across the country, and is headquartered just outside of Dallas, Texas.