The Importance Of Reciprocity In Business

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1. Reciprocity Relates to the perception that by doing what is requested one will get something in return. It is universally expected that when you provide someone anything he/she will return a favor; this can amount on occasions to just verbal appreciation or gratitude. During this process, the receiving party can be said to ‘owe’ the provider a favor of some sort, therefore the provider has a measure of temporary clout over the receiving party. However, if the provider indicates that is immaterial, they are said to lose this opportunity. Companies using the belief in reciprocity when they are dealing with their clients. A company will be willing to provide gestures of good faith in the assumption that this will satisfy their client base and …show more content…
Authority Companies often try to show that experts in the field recommending them, which in turn creates authority. Independent reviews are commonly cited as bolstering a company’s reputation and increasing their authority. A world renowned expert is also regarded as an authority in his/her relevant field. A commendation from such a person will increase the company’s authority, contributing to consumer’s trust in the brand name. This will inevitably raise the company’s sales and revenue.
4. Commitment and consistency The usual way used in business settings to achieve commitment and consistency is by having business dealings in writing. Businesses are investing huge resources in hiring lawyers and having all types of contracts that they make their customers sign. In addition, some businesses that sale through the phone, often inform their customers that they are recording the conversation and that they need to explicitly agree by saying ‘I agree to X, Y or Z’ so that the customer will understand that they are entering a valid contract of sale. Businesses have the evidence/means to force customers to follow through with their commitments or else they can, and will be taken to court. Having detailed records and contracts in the business world, creates
…show more content…
Scarcity – I’ve explained that this is a onetime chance to indicate & have whatever info/files they need from the old portal in the new one that I was creating. I said that there is a strict deadline, and after this deadline it will no longer be available because the old portal will be phased out.
3. Authority – I think my spreadsheet was quite professionally made and presented authority, but never the less, our supervisor instructed everybody to response to my request.
4. Commitment and consistency – Everything has been done in writing and communicated via email. I’ve sent reminders to the team and followed up with whoever still needed to respond.
5. Consensus – I believe there was a consensus that this is an important task and that the resulting portal will be good.
6. Liking – I’ve used a language that was friendly and that made sure to give the impression that I was actually trying to help everyone on the team. I am not someone who is in an authority position compare to them. Some of the teammates are actually more senior than me in terms of their professional grade. In short, I’ve manage to convince everybody that I was doing them a favour by looking after this process as it was outside my prescribed duties regardless of the fact that my boss nominated me for this

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