In business as in
poker there are times when discretion is the better part of valour. Put simply,
some of the best business deals are those you turn away.
All organisations operating in today’s climate need to have constant and rigorous focus on their commercial exposure.
Against the current competitive background it is obviously difficult to contemplate turning away business especially from a customer of long standing.
However an objective assessment may well lead to the conclusion that in this instance the business would be left to others.
Reduced turnover will result when stricter controls are in place over such elements as payment terms and credit limits.
However, the reward or such fiscal discipline is obvious. Avoiding defaults by customers not only protects the company’s bottom line but allows focus to be placed on more profitable activities.
All organisations operating in today’s climate need to have constant and rigorous focus on their commercial exposure.
Against the current competitive background it is obviously difficult to contemplate turning away business especially from a customer of long standing.
However an objective assessment may well lead to the conclusion that in this instance the business would be left to others.
Reduced turnover will result when stricter controls are in place over such elements as payment terms and credit limits.
However, the reward or such fiscal discipline is obvious. Avoiding defaults by customers not only protects the company’s bottom line but allows focus to be placed on more profitable activities.
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