With knowledge, we gain understanding
and with understanding, we gain wisdom.
We make better decisions when we are well
informed. Let us not display ignorance, let
us hold ourselves to high standards, and let
us display professionalism in everything
that we do.
Loss of the Best Employees
When businesses are ignorant about the
needs of their employees, the employees
start looking for better employers. It is
often the best employees that leave first.
Do not let ignorance about holding on to
our best employees cost us their exit. Build
an environment where employees feel that
they can give their best and are recognized
for doing so.
We must fight the notion that people can
be easily replaced. Let us build strong
teams that can effectively steer our
businesses ahead. Do not let ignorance
hold you back from understanding the
important role that our people play in our
businesses.
Customer Attrition
At the very basic level, ignore a customer
and they are likely to go away never to
return. When businesses thrive in a state
of ignorance, it becomes evident to the
customer. How many of us as customers
32 MAL35/20 ISSUE
like the response “I do not know.” This
response displays a lack of knowledge
which further demonstrates a ‘don’t care
attitude’.
Customers hate unawareness. It sends
the signals that the businesses do not
care enough and makes the customers
go away. If we want to hold on to our
customers for life, we must appreciate the
power of being knowledgeable. Our staff
must have adequate knowledge about the
company, the products, services, processes,
customers and the industry. Keep staff
well informed!
Death
Finally, I believe that many businesses
have died because of lack of knowledge.
Businesses operate in a very competitive
marketplace. The business environment is
also highly regulated. Survival is for the
fittest.
Without knowledge about what it takes to
survive in the marketplace some business
find themselves in deep holes. Some get
into trouble with regulatory authorities,
others get into legal tussles while others
are simply not able to differentiate
themselves from everyone else.
By demonstrating our ignorance in
running operations, our business can easily
get out of business. As a business owner,
do not let ignorance kill the business. Seek
to know what it takes to survive!
The cost of ignorance in business can be
colossal. It is therefore critical for business
leaders and staff to appreciate the need to
be knowledgeable about their jobs, their
company, their industry and the market as
a whole.
In law, there is an old maxim that
“ignorance is no defence” meaning that no
one should use his or her lack of knowledge
as an excuse for doing what is wrong or
illegal. In business too, ignorance should
not be a defence for failure.
With
adequate
knowledge
and
understanding, we can make better
decisions regarding our businesses. Let us
fight ignorance at all cost!
Dr. Lucy Kiruthu is a Customer
Experience Strategist and Trainer,
and
CEO
Evolve
Business
Consultants Limited. You can
commune with her on this or related
matters via email at: Lucy@evolve-
consultants.com, or Connect via
twitter @KiruthuLucy.