eBusiness Weekly
Taurai Changwa Business Forum
Banks and other financial institutions major selling point is integrity.
As capital is a coward, it most often feels comfortable where it knows it cannot be short changed.
This is precisely the same reason why there is a risk premium in situations and circumstances where integrity is perceived to be non-existent.
Put simply, integrity is about consistency of moral character, honesty, and truthfulness.
Experts often say that people usually demonstrate their integrity when they hold fast to their principles of ethical conduct.
Perhaps the biggest casualties during the years Zimbabwe has been experiencing economic challenges has been ethics and integrity.
Till this day, the country continues to unearth numerous cases of corruption. Maintaining and demonstrating one’s integrity is not as easy as it seems. It sometimes involves speaking truth to power and often at great personal cost. It also entails acknowledging our failings and taking action to address them.
So, integrity is about courage. But when businessman and politicians seek money at all cost, integrity becomes the first casualty.
History has however proved that it is very unkind to dishonest businessman and companies. Well-run businesses have stood the test of time. This also applies to the public sector, and it is quite pleasing to note that Government, which used to be run as an opaque enterprise, is now becoming increasingly transparent under the new political administration.
Integrity is not only demonstrating in normal times, but it is most visible in time of crisis.
Leadership is not about getting everyone to like you or about finding the easiest path.
It’s about discerning the best way forward. It’s about getting people to go where they wouldn’t go if it wasn’t for leadership.
Clearly, this possibly what informed President Mnangagwa’s statement in the Financial Times that leadership is not about taking people where they want to go, but it is about taking people where they ought to be.
If you make too many decisional compromises or even a handful of personal compromises, your effectiveness will be compromised.
It is beyond doubt that Zimbabwe has over the years squandered its standing and reputation before the international community, but fortunately, integrity can be built and rebuilt. The current push to engage with the international community should be coupled with a deliberate effort to rebuild the country’s reputation and standing.
It is the small things that count.
Martin Zwilling, a Business Insider writer, states that, as an entrepreneur, when you are late with a committed business plan or meeting with an investor, you lose integrity.
As a company, if your customer feels you did not meet your product quality commitment, your company loses integrity.
Most notably, your view or reason doesn’t matter.
This term is usually used to mean honest as seen by other people. Some think honesty is only related to what is said, but not telling the whole truth is dishonest, even in court.
Business experts say if you can’t deliver a service because of your company’s mistake, integrity suggests that you include the real reason in your apology. Trust, they say, is a reliance relationship built on character, strength, and ability.
It usually takes several good acts to build, and one bad act to lose. To build company trust, you need to personalise your company. People do business with people. Even internationally known brands are judged daily by the quality of their people.
As the country tries to move forward and build a prosperous society this might be seriously considered.
It is believed that integrity must start at the helm, and then it can cascade down through the deepest layers and become the heart and soul of the company’s culture.
If the entrepreneur who runs the company does not have integrity, a start-up usually falters.
Also, only people who don’t have integrity think it’s hard to detect. Lack of integrity is one of the easiest qualities to detect in people and companies.
In the words of US former president Dwight Eisenhower: “The supreme quality for leadership is unquestionable integrity. Without it, no real success is possible, no matter whether it is on a section gang, a football field, in an army, or in an office.”
To rebuild the economy of Zimbabwe, we now need business and political leaders with integrity. It is time for all of us to work and build Zimbabwe.
Integrity, like wisdom, is better than silver and gold.
Taurai Changwa is a member of the Institute of Chartered Accountants of Zimbabwe and an Estate Administrator. He has vast experience on tax, accounting, audit and corporate governance issues. He is a director SAFIC Consultancy. He writes in his personal capacity and can be contacted at [email protected] <mailto:[email protected]> or or whatsapp on 0772374784.
