When it comes to its global impact, 2012 would be a notable year for Indian Companies. A lot of India’s finest Information mill now regularly listed as potent forces around the World stage- with yearly revenues that exceed the lucrative USOne Dollar Billion mark. Investors from around the world are eager for this revival making their presence recognized to the discerning Indian buyer. However, there’s a minor roadblock that puts a significant dent in to these plans- the Indian Business’ method of Ethics.
With regards to business ethics and integrity, there are only a few Indian firms that satisfy the global benchmarks that comprise ethical business practices. Sadly, to have an emerging economy, India continues to be languishing in a lowly 95th position around the Transparency Worldwide Index. The decision is obvious- if India really wants to emerge like a effective business house, it has to rectify the fundamental mistakes it commits when it comes to commitments and business understandings. Or possibly, newer, more acceptable modes of economic must find social prominence.
Enter B2b (Business to business) sourcing. Experts think that the current, no-gemstones-unturned outlook and also the global acceptance from the Business to business marketplace concept might just be the solution to India’s woes. Most medium and small sized companies (SME) in India consider corruption to become an inevitable evil poor business- terming it as being ‘building connections’, securing support and approvals or relationship management. With Business to business however, the bigger interest of the organization are addressed with regards to the accurate, substantial marketing information being released by them through various Business to business portal, that leaves little room for person-to-person manipulation. Ethics are side-lined when there’s too little transparency. In Business to business buying and selling, transparency may be the primary requirement.
A Business to business directory as provided by a typical Business to business portal is an accumulation of Importers and Exporters who require to obviously mark their credentials and track-record to become featured and do business with other listed companies. The main departure from traditional marketing exists in the existence of a ‘rating’ structure- corrupt practice, deceitful tactics or plain incompetence is punished through the hosting Business to business portal based on a victimised trader’s personal expertise and also the offending trader’s market price lies tarnished. Within the situation of larger Business to business portals, a poor remark might have far-reaching effects to some Company’s offline business potential too.
A Business to business marketplace strives for equality – from a seller and buyer, an importer or perhaps an exporter. Within the real life, if your trader is just a distributor or dealer to have an established brand, the trader’s corrupt intentions could be hidden through the brand’s market price. However, on the Business to business portal, an investor is not permitted to improvise much with regards to the actual details because the trader is going to be competing directly against other companies concentrating on the same profiles. The axiom of ‘strength in numbers’ holds an optimistic spin here. A Business to business portal enables for various options and an opportunity to compare together – a procedure that may go ahead and take expenditure of a lot some time and sources within the offline world.