Sales Tactics Of The Sales Staff Essay

Sales Tactics Of The Sales Staff Essay

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In BBB Bank, a major issue in regards to ethics are the sales tactics of the sales staff. As their objectives were set with rewards based on sales value and volumes, their main focus was selling as many products with the highest value possible. This means that they lost sight of the customer and what it best for them. As a result, other internal departments have been impacted and it had a negative impact on BBB Bank’s reputation.
Andrews should look into changing performance objectives to putting the customer first, as this will help to ensure better customer service and customer focus. He could also look at introducing selling standards that all customer facing colleagues need to adhere to. Colleagues should receive proper training, have a road to competency to gain required skills for their position, keep records of customer interviews and provide customers with fact sheets with all relevant details and the reason why a specific service was offered.
The Chairman’s suggested to introduce a code of professional conduct to focus the staff’s and manager’s awareness on the ethical dimensions of their work and to show the impact their behaviour has on customers. The Chartered Banker Institute, as the professional body for bankers in the UK, develops and promotes professional standards for bankers. Using the Chartered Banker Institute’s code of conduct will ensure that BBB Bank’s code of conduct will adhere to the professional standards of the banking industry in the UK, however it might not address the core issues BBB Bank is facing at the moment. Therefore, BBB Bank should create its own code of conduct, using the Professional Standards Board’s Code of Professional Conduct as a foundation to build on.
A code of conduct should be p...

... middle of paper ...

...panies take on a social responsibility as well, meaning that Andrews should consider ensuring that third party suppliers adhere to the same or similar moral standards and evaluate the impact BBB Bank has on its environment. This could mean making sure that the company recycles, supports local communities, or offers financial services and education to vulnerable customers.
Creating a highly ethical organisation with a professional code of conduct is vital in the current market, as the public conscience is putting more emphasis on making ethical choices in every part of their lives, this includes buying food, clothes and also in banking. Ensuring that BBB Bank adheres to a high ethical standard, both in the way they do business and treat their customers can have a highly positive effect on their tarnished reputation and ensure that customers decide to bank with them.

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