PLUS Symposium: Greater Transparency Will Change the Way Industry Does Business
National News • March 21, 2005
Transparency will reportedly bring fundamental changes in how the industry operates, resulting in more open communication between the client, the broker and the underwriter.
A change in the ...
Insurance Journal is not responsible for the content of the message below.
Subject: Transparency in Business
Posted On: March 22, 2005, 12:49 pm CST
Posted By: Elaine George
Comment:
Of course, transparency will change the way business is conducted, but it will mean more regulations and laws which the next smart person can "get around" - until there is another big scandal which will result in more laws and regulations. We are becoming too entangled in laws, regulations, procedures and greed for rapid financial growth.
I think that employees at levels in a company should stop and ask the basic question "is this the right thing to do for the customer?" (the whole reason we are in business to begin with). But, to do this requires a fundamental shift in our culture and mentality - something we are not ready for. Supposedly, the business world is focusing on a societal market concept (satisfying customers better than competitors, attainting organizational goals and improving the quality of life) - however the realization of this concept will take years to materialize: if it ever does! Most of us are too focused on ourselves to bother with the rest of the world and how our actions may impact it.
Subject: Transparency in Business
I think that employees at levels in a company should stop and ask the basic question "is this the right thing to do for the customer?" (the whole reason we are in business to begin with). But, to do this requires a fundamental shift in our culture and mentality - something we are not ready for. Supposedly, the business world is focusing on a societal market concept (satisfying customers better than competitors, attainting organizational goals and improving the quality of life) - however the realization of this concept will take years to materialize: if it ever does! Most of us are too focused on ourselves to bother with the rest of the world and how our actions may impact it.