In the past, businesses put in great efforts to guard their reputation. They address customer complaints actively and maintain their reputation for fair treatment of customers.
In recent years, the standard of customer service has declined. This comes during an era of relentless search for higher profits and a drop in business ethics. Businesses do not care as much for their reputation, as it is now quite common for their competitors to have similar low standards.
The regulators have also dropped their standard of enforcements. They consider that these matters could be left to the market. If the consumers are not happy, they can go to another supplier. Even the mainstream media is driven by advertising dollars and are not vigorous in reporting bad practices of businesses.
Many businesses now take the view that if a group of customers are dissatisfied, they can market their products to other groups of customers.
The decline in business ethics will be bad for society. We need a refocus on good business ethics and practices. This requires the action of the regulators, mainstream media, and the examples of good corporate leaders.
Consumers should also come forward to be more active in expressing their dissatisfaction and views. They can use the new media to voice their views.
Tan Kin Lian
Showing posts with label Free Market. Show all posts
Showing posts with label Free Market. Show all posts
Friday, October 2, 2009
Thursday, October 1, 2009
Free market (10) - Consumer protection
The governments in most countries consider it their duty to protect consumers from the bad practices of businesses.
In the financial services sector, it is possible for the financial institution to design products that take advantage of the ignorance of consumers and entice them with misleading promises that are not kept.
In the medical field, it is possible for drug companies to introduce products that may are unsafe for consumption or make benefit claims that are not verified by scientific evidence.
There used to be strong regulations on the sale of financial products, but the regulations have been weakened in recent years, during an era of deregulation. It was thought that, to promote financial innovation, financial products can be sold on the basis of product disclosure, and that should be left to make their own judgement about the suitability of the product, with the advice of financial advisers.
This approach turned out to be disastrous, as financial institutions introduced complex products that are designed to take advantage of the ignorance of consumers to reap big profit for the issuers. These products are sold with attractive commissions paid to the financial advisers, who pushed the products to consumers regardless of their suitability.
In America, the regulators took action to hold the financial institutions and advisers accountable for any misdeed. New legislation is now being introduced to set up an agency to protect consumers from predatory practices of financial institutions.
Singapore should consider similar measures as the problems faced by consumers here are of more serious than in America.
Fortunately, the control of the sale of drugs continues to be strongly regulated and consumers are well protected.
Tan Kin Lian
In the financial services sector, it is possible for the financial institution to design products that take advantage of the ignorance of consumers and entice them with misleading promises that are not kept.
In the medical field, it is possible for drug companies to introduce products that may are unsafe for consumption or make benefit claims that are not verified by scientific evidence.
There used to be strong regulations on the sale of financial products, but the regulations have been weakened in recent years, during an era of deregulation. It was thought that, to promote financial innovation, financial products can be sold on the basis of product disclosure, and that should be left to make their own judgement about the suitability of the product, with the advice of financial advisers.
This approach turned out to be disastrous, as financial institutions introduced complex products that are designed to take advantage of the ignorance of consumers to reap big profit for the issuers. These products are sold with attractive commissions paid to the financial advisers, who pushed the products to consumers regardless of their suitability.
In America, the regulators took action to hold the financial institutions and advisers accountable for any misdeed. New legislation is now being introduced to set up an agency to protect consumers from predatory practices of financial institutions.
Singapore should consider similar measures as the problems faced by consumers here are of more serious than in America.
Fortunately, the control of the sale of drugs continues to be strongly regulated and consumers are well protected.
Tan Kin Lian
Wednesday, September 30, 2009
Free market (9) - Corporate social responsibility
There is a focus on corporate social responsibility. This focus is to encourage corporates to recognize that they have to go beyond making profits for their shareholders and to take care of other stakeholders, such as their workers, customer, community and the environment.
Many corporates proudly embrace this concept, but pay only lip service to it. To be truly a responsible corporate citizen, they have to create a proper balance in the sharing of the profit among the various stakeholders.
The most important task is to provide goods and services at fair prices to their customers. They should not make excessive profits at the expense of their customers, by offering goods of inferior quality or provide misleading information about the value of the goods. They have to be honest.
The corporations have to provide fair wages to their workers. It is possible to use the market forces to suppress the wages and increase profits for their shareholders, but that would be against the concept of social responsibility. It is understandable for a corporation to reduce its wages, if this is necessary for the corporation to survive in a competitive market or where there is a drop in demand. However, if the corporation is able to make big profit, it should give a fair share to the workers.
A part of the profits should be set aside for the community and the environment.
The shareholders are entitled to the residual profits but there must be benchmarks on what is a reasonable rate of return. The corporation should not go beyond this reasonable rate, if it is done at the expense of the other stakeholders.
The concept of corporate social responsibility requires these benchmarks to be established. It will lead to a fairer society and ensure its long term sustainability.
Tan Kin Lian
Many corporates proudly embrace this concept, but pay only lip service to it. To be truly a responsible corporate citizen, they have to create a proper balance in the sharing of the profit among the various stakeholders.
The most important task is to provide goods and services at fair prices to their customers. They should not make excessive profits at the expense of their customers, by offering goods of inferior quality or provide misleading information about the value of the goods. They have to be honest.
The corporations have to provide fair wages to their workers. It is possible to use the market forces to suppress the wages and increase profits for their shareholders, but that would be against the concept of social responsibility. It is understandable for a corporation to reduce its wages, if this is necessary for the corporation to survive in a competitive market or where there is a drop in demand. However, if the corporation is able to make big profit, it should give a fair share to the workers.
A part of the profits should be set aside for the community and the environment.
The shareholders are entitled to the residual profits but there must be benchmarks on what is a reasonable rate of return. The corporation should not go beyond this reasonable rate, if it is done at the expense of the other stakeholders.
The concept of corporate social responsibility requires these benchmarks to be established. It will lead to a fairer society and ensure its long term sustainability.
Tan Kin Lian
Tuesday, September 29, 2009
Free market (8) - Access to credit
Banks provide credit to businesses. They charge an interest rate comprising of the cost of funds (i.e. the interest that they pay to deposits) and the credit spread (i.e. the additional fee to cover the risk of default by the borrowers, expenses and profit).
In a competitive environment, the credit spread narrows and banks make a modest profit. Under volatile market conditions, the credit spread can increase sharply as the banks take advantage to increase their profit margins.
Some banks take advantage of the market volatility to recall loans and increase the interest sharply. The borrower has no recourse, but to pay the high interest rate, as this is a commercial term.
The banking industry is able to make huge profit at the expense of the business and consumer sectors. Some lawmakers have described the practice as predatory or usurious.
During an economic crisis, the Government has to step in and guarantee the credit for small businesses, as the banks are not prepared to take the risk. Some people refer to this practice as "lend you an umbrella during the sunny days and take it back when it rains".
Is there a better way to provide credit for businesses, rather than rely on the banking industry, especially if the banks do not have a social conscience and exploit the situation to make huge profits?
In my view, there should be a state owned development bank that is willing to offer financing on fair terms to the essential sectors of the economy, i.e. those that meet the needs of the population for their day to day living. These loans are for small businesses to buy the tools, equipments and stocks to run small businesses to provide goods and services for the population.
It is also possible to have large numbers of community or cooperative banks to provide the lending to the small businesses. These banks can draw their funds from the state owned development banks on fixed terms.
This type of structure ensures that there is healthy competition among the large number of banks. The lending should be restricted to the cost of running a business, and not for speculation in properties, including commercial properties.
If businesses have access to credit on fair terms and are not subject to exploitation by the banks or by speculative forces, they can provide their goods and services at fair prices, stablilise the cost of living and increase their economic efficiency.
A large source of economic instability and crisis in past years is due to speculation in property and cost of credit, and in exploitation by the owners of these resources. It is better for these two key sectors to be controlled (and still reflect the market) but to remove the exploitation of the market.
Tan Kin Lian
Tan Kin Lian
In a competitive environment, the credit spread narrows and banks make a modest profit. Under volatile market conditions, the credit spread can increase sharply as the banks take advantage to increase their profit margins.
Some banks take advantage of the market volatility to recall loans and increase the interest sharply. The borrower has no recourse, but to pay the high interest rate, as this is a commercial term.
The banking industry is able to make huge profit at the expense of the business and consumer sectors. Some lawmakers have described the practice as predatory or usurious.
During an economic crisis, the Government has to step in and guarantee the credit for small businesses, as the banks are not prepared to take the risk. Some people refer to this practice as "lend you an umbrella during the sunny days and take it back when it rains".
Is there a better way to provide credit for businesses, rather than rely on the banking industry, especially if the banks do not have a social conscience and exploit the situation to make huge profits?
In my view, there should be a state owned development bank that is willing to offer financing on fair terms to the essential sectors of the economy, i.e. those that meet the needs of the population for their day to day living. These loans are for small businesses to buy the tools, equipments and stocks to run small businesses to provide goods and services for the population.
It is also possible to have large numbers of community or cooperative banks to provide the lending to the small businesses. These banks can draw their funds from the state owned development banks on fixed terms.
This type of structure ensures that there is healthy competition among the large number of banks. The lending should be restricted to the cost of running a business, and not for speculation in properties, including commercial properties.
If businesses have access to credit on fair terms and are not subject to exploitation by the banks or by speculative forces, they can provide their goods and services at fair prices, stablilise the cost of living and increase their economic efficiency.
A large source of economic instability and crisis in past years is due to speculation in property and cost of credit, and in exploitation by the owners of these resources. It is better for these two key sectors to be controlled (and still reflect the market) but to remove the exploitation of the market.
Tan Kin Lian
Tan Kin Lian
Monday, September 28, 2009
Free market (7) - Lower fixed cost
Many small business find it difficult to survive. They have to pay high rental and credit to run their business. These high cost have to be passed to their customers in the form of higher prices.
As business premises and credit are under the control of a few people, they are able to increase the rental and interest rate on loans. They make excessive profit and cause a heavy burden on the small business and the consumers.
These high costs can be controlled by the government through legislative measures, e.g. to set caps on rental rates or the cost of capital, or to provide alternative sources of supply through the public sector.
Many years ago, HDB provide shops at affordable prices. It allows the shop keepers to offer their goods and services at lower prices and make a reasonable profit. If they overcharge and make a larger profit, another business will be set up to provide an alternative at a lower price.
This is competition at its best, in bringing the prices down to a reasonable level, based on the cost of doing business plus a fair margin of profit.
In America, the anti-trust law is designed to ensure that there is fair competition and that any business is not allowed to grow so large that they can dominate the market and have unfair pricing power.
We also need controls to ensure that property owners and bankers do not take an excessive share of the value chain, at the expense of the customers, workers and the small business owners. It is desirable for these business costs to be controlled, to promote a healthy competitive market.
Tan Kin Lian
As business premises and credit are under the control of a few people, they are able to increase the rental and interest rate on loans. They make excessive profit and cause a heavy burden on the small business and the consumers.
These high costs can be controlled by the government through legislative measures, e.g. to set caps on rental rates or the cost of capital, or to provide alternative sources of supply through the public sector.
Many years ago, HDB provide shops at affordable prices. It allows the shop keepers to offer their goods and services at lower prices and make a reasonable profit. If they overcharge and make a larger profit, another business will be set up to provide an alternative at a lower price.
This is competition at its best, in bringing the prices down to a reasonable level, based on the cost of doing business plus a fair margin of profit.
In America, the anti-trust law is designed to ensure that there is fair competition and that any business is not allowed to grow so large that they can dominate the market and have unfair pricing power.
We also need controls to ensure that property owners and bankers do not take an excessive share of the value chain, at the expense of the customers, workers and the small business owners. It is desirable for these business costs to be controlled, to promote a healthy competitive market.
Tan Kin Lian
Sunday, September 27, 2009
Free market (6) - Opportunity to work
With advances in science and technology, it is possible for the goods and services needed by all the people to be produced with less hours of work and higher productivity.
If the required quantum of work is shared fairly among all those who are willing to work, it will be possible for each person to work lesser hours that they do now.
In a competitive environment, some people will work longer hours to ensure that their jobs are secure. This will cause other people to be unemployed.
The business owners can pay lower wages when there there is a limited supply of work and an over-supply of workers looking for work. With lower wages, they can make a larger profit.
This is a short sighted approach. If people have lower wages or are unemployed, they will have less money to spend on other things. This will further reduce the demand and contract the economy.
A better system is to have the work fairly distributed among the available workers, so that everyone will be employed and can enjoy a fair wage. They will have money to consume other services, such as leisure and entertainment. This will create demand for the production of other goods and services.
A healthy economy depends on the ability of people to get employment at fair wages. It requires legislation on the maximum working hours (so that the work is fairly distributed among the workers) and a minimum wage, so that all workers will earn enough to meet the cost of living and be able to have additional money for savings or to be spent on leisure.
Tan Kin Lian
If the required quantum of work is shared fairly among all those who are willing to work, it will be possible for each person to work lesser hours that they do now.
In a competitive environment, some people will work longer hours to ensure that their jobs are secure. This will cause other people to be unemployed.
The business owners can pay lower wages when there there is a limited supply of work and an over-supply of workers looking for work. With lower wages, they can make a larger profit.
This is a short sighted approach. If people have lower wages or are unemployed, they will have less money to spend on other things. This will further reduce the demand and contract the economy.
A better system is to have the work fairly distributed among the available workers, so that everyone will be employed and can enjoy a fair wage. They will have money to consume other services, such as leisure and entertainment. This will create demand for the production of other goods and services.
A healthy economy depends on the ability of people to get employment at fair wages. It requires legislation on the maximum working hours (so that the work is fairly distributed among the workers) and a minimum wage, so that all workers will earn enough to meet the cost of living and be able to have additional money for savings or to be spent on leisure.
Tan Kin Lian
Saturday, September 26, 2009
Free market (5) - Cooperation, not competition
We are used to a competitive environment. All suppliers compete hard against each other to get business and expand their market share. Sometimes, the competition is so intense that they try to put their competitors out of business.
It is possible to work in a cooperative environment. Each business serves different groups of customers. They may charge the same price for the service, or it may be differentiated to some extent. Some customers do not mind paying a higher price to get better service or to be served more quickly.
In a market place, there can be several stalls selling similar products. In many places, the stall holders cooperate with each other. If one stall is not able to provide the goods needed by a customer, they will get the goods from a nearby stall and sell it to the customer. Maybe, the two stalls will share the profit margin. This is cooperation.
If we extend the concept of cooperation to neighboring countries, we will get more goodwill and friendship between the people of the countries, as they will benefit together. If one country feels that another country is taking a larger share of the profit, there will be dislike and distrust.
Under a cooperative environment, all parties will survive and progress together. Any opportunity is shared fairly among all the parties. It creates goodwill and friendship. Even if some business fail, they will not blame it on their competitors but on their inability to attract the customers.
We need the educate people on the principles for a cooperative environment.
Tan Kin Lian
It is possible to work in a cooperative environment. Each business serves different groups of customers. They may charge the same price for the service, or it may be differentiated to some extent. Some customers do not mind paying a higher price to get better service or to be served more quickly.
In a market place, there can be several stalls selling similar products. In many places, the stall holders cooperate with each other. If one stall is not able to provide the goods needed by a customer, they will get the goods from a nearby stall and sell it to the customer. Maybe, the two stalls will share the profit margin. This is cooperation.
If we extend the concept of cooperation to neighboring countries, we will get more goodwill and friendship between the people of the countries, as they will benefit together. If one country feels that another country is taking a larger share of the profit, there will be dislike and distrust.
Under a cooperative environment, all parties will survive and progress together. Any opportunity is shared fairly among all the parties. It creates goodwill and friendship. Even if some business fail, they will not blame it on their competitors but on their inability to attract the customers.
We need the educate people on the principles for a cooperative environment.
Tan Kin Lian
Friday, September 25, 2009
Free market (4) Access to information
For a market to work fairly, the buyers and sellers must have access to relevant and reliable information. If one party has more information than another party, the first party will have an advantage. In some cases, this advantage is acceptable, but in other cases, it would be considered as unfair.
In the stock market, it would be unfair for the people with insider information to be allowed to trade with other people without the same information. Regulations are made to prevent insider trading. Those who break the regulations could be prosecuted as a criminal offence.
In property transactions, the price agreed between the buyer and seller depends on the access to information about the property. Usually, the seller has more information about the property, such as the condition of the property and the existence of any legal liability. It is the duty of the seller to disclose the information to the buyer.
Both parties should also have access to information about the price of recent transactions of similar properties. This allows them to make the reliable assessment of the current market price, so that the agreed price is fair to both parties. If one party has more information, that party will be able to trade at an advantage over the other party.
Sometimes, the party with the information can withhold or mis-represent the information to the other party to get a better price. That is unfair and is taking advantage of the other party.
Where information is not available, the customer may have to rely on the advice of the property agents, who are expected to be more familiar with the market. Unethical agents may take advantage of their customers and give unreliable or dishonest advice. Some may have a conflict of interest, and fail in their duty of giving the best advice to their client.
To prevent unfair trading and unethical conduct of agents, it is best that information should be made easily available to all. For example, for property transactions, it is best for the prices of recent transactions involving similar properties should be made accessible to all parties in a convenient and clear way.
For trading in stocks, the buy and sell prices and recent transactions should be available to all parties to make their price decision.
When a client relies on the advice of a professional, such as a doctor or lawyer, there has to be a code of ethics for the professional to look after the interest of the client, rather than to apply their expert knowledge to take advantage of the client and over-charge for the professional service or to make a hidden profit on a transaction.
In the stock market, it would be unfair for the people with insider information to be allowed to trade with other people without the same information. Regulations are made to prevent insider trading. Those who break the regulations could be prosecuted as a criminal offence.
In property transactions, the price agreed between the buyer and seller depends on the access to information about the property. Usually, the seller has more information about the property, such as the condition of the property and the existence of any legal liability. It is the duty of the seller to disclose the information to the buyer.
Both parties should also have access to information about the price of recent transactions of similar properties. This allows them to make the reliable assessment of the current market price, so that the agreed price is fair to both parties. If one party has more information, that party will be able to trade at an advantage over the other party.
Sometimes, the party with the information can withhold or mis-represent the information to the other party to get a better price. That is unfair and is taking advantage of the other party.
Where information is not available, the customer may have to rely on the advice of the property agents, who are expected to be more familiar with the market. Unethical agents may take advantage of their customers and give unreliable or dishonest advice. Some may have a conflict of interest, and fail in their duty of giving the best advice to their client.
To prevent unfair trading and unethical conduct of agents, it is best that information should be made easily available to all. For example, for property transactions, it is best for the prices of recent transactions involving similar properties should be made accessible to all parties in a convenient and clear way.
For trading in stocks, the buy and sell prices and recent transactions should be available to all parties to make their price decision.
When a client relies on the advice of a professional, such as a doctor or lawyer, there has to be a code of ethics for the professional to look after the interest of the client, rather than to apply their expert knowledge to take advantage of the client and over-charge for the professional service or to make a hidden profit on a transaction.
It is important for consumers to have access to independent advice, where there is the possibility that the professional may have a conflict of interest.
Tan Kin Lian
Tan Kin Lian
Thursday, September 24, 2009
Free market (3) - A fair price
A free market is supposed to increase efficiency and to bring down the cost of products through competition. It requires the price to be fairly determined, so as to benefit the buyers and also make a profit for the seller.
To following conditions are necessary to get a fair price:
a) the product is standard
b) the quality can be measured
c) all parties have information about the market prices of these products
The price may differ according to the difference in cost. For example, an expensive shop can charge a higher price for a product, due to higher rent and greater convenience to the buyer. The buyer has the choice of paying more for the convenience and ambience.
The convenience store, which is opened 24 hours a day, has to charge a higher price compared to the supermarket for the same product. Customers are willing to pay the higher price charged at the convenience store.
It is possible for the seller to charge an inflated price, that is unfair to the buyer, under the following situations:
a) the buyer does not get the relevant information about the product
b) the seller gives misleading information about the product
c) the seller applies pressure selling methods
If the seller "cheats" the customer, the seller will get a bad reputation and will not get future business from the customer. However, there are many other customers that the seller can "cheat" and the seller finds that it is more profitable to "cheat" customers, unless these are treated as criminal offences. If it is quite common for people to "cheat" other people under the guise of "buyer beware", the society will become dishonest and people will learn to distrust other people.
It is better to encourage a society that is more honest and ethical.
Tan Kin Lian
To following conditions are necessary to get a fair price:
a) the product is standard
b) the quality can be measured
c) all parties have information about the market prices of these products
The price may differ according to the difference in cost. For example, an expensive shop can charge a higher price for a product, due to higher rent and greater convenience to the buyer. The buyer has the choice of paying more for the convenience and ambience.
The convenience store, which is opened 24 hours a day, has to charge a higher price compared to the supermarket for the same product. Customers are willing to pay the higher price charged at the convenience store.
It is possible for the seller to charge an inflated price, that is unfair to the buyer, under the following situations:
a) the buyer does not get the relevant information about the product
b) the seller gives misleading information about the product
c) the seller applies pressure selling methods
If the seller "cheats" the customer, the seller will get a bad reputation and will not get future business from the customer. However, there are many other customers that the seller can "cheat" and the seller finds that it is more profitable to "cheat" customers, unless these are treated as criminal offences. If it is quite common for people to "cheat" other people under the guise of "buyer beware", the society will become dishonest and people will learn to distrust other people.
It is better to encourage a society that is more honest and ethical.
Tan Kin Lian
Wednesday, September 23, 2009
Free market (2) - a regulated market
Some people think that a free market should be unregulated and that deregulation will lead to innovation.
This is partly true but largely false. An unregulated market can lead to exploitation and cheating. The people with the information and financial resources can take advantage of the consumers and make excessive profit.
A good example of a regulated, free market is the stock exchange. The regulator knows that it is easy for the retail investors to be taken exploited by by people who can manipulate the stock prices. The regulator writes and enforces regulations to ensure that the market is fair, and that information is readily available to all participants. Insider trading, manipulation of prices, release of false information and other unfair practices are disallowed. Those guilty can even go to jail.
Medical services used to be self-regulated. The medical profession sets guidelines on the prices to be charged for various common procedures and services. They are published and made know to consumers. They set the benchmark for fair prices and protect the consumer. When the guidelines were abolished by the Competition Commission, it was actually a step backward. Instead of helping consumers, this change actually caused more problems for consumers.
The regulator allows taxi companies to set their fares, calling charges, peak hour surcharge and other charges. This is supposed to allow free competition, but it is confusing to the public. The commuter does not know what is the fare, as it depends on the taxi company. If the commuter is at a taxi stand and an expensive taxi comes along, it is difficult for the commuter to reject that taxi, without causing unpleasantness.
A better approach is for the regulator to set the standard rates for the basic taxi service (which applies to taxis picking commuters along the road or at taxi stands. Premium services can be made available to commuters who call a taxi on their special hotline, as the commuter know and accept the charges for that premium service.
We need a regulated market to be fair to all parties and to improve efficiency. We can promote competition by giving choice to consumers (e.g. to choose the doctor) and for service providers to decide if they wish to provide the service at the regulated rates. In the stock exchange, an investor has the choice of buying or selling a specific stock. This is how competition can work in a free market to give better outcome and fair prices.
Tan Kin Lian
This is partly true but largely false. An unregulated market can lead to exploitation and cheating. The people with the information and financial resources can take advantage of the consumers and make excessive profit.
A good example of a regulated, free market is the stock exchange. The regulator knows that it is easy for the retail investors to be taken exploited by by people who can manipulate the stock prices. The regulator writes and enforces regulations to ensure that the market is fair, and that information is readily available to all participants. Insider trading, manipulation of prices, release of false information and other unfair practices are disallowed. Those guilty can even go to jail.
Medical services used to be self-regulated. The medical profession sets guidelines on the prices to be charged for various common procedures and services. They are published and made know to consumers. They set the benchmark for fair prices and protect the consumer. When the guidelines were abolished by the Competition Commission, it was actually a step backward. Instead of helping consumers, this change actually caused more problems for consumers.
The regulator allows taxi companies to set their fares, calling charges, peak hour surcharge and other charges. This is supposed to allow free competition, but it is confusing to the public. The commuter does not know what is the fare, as it depends on the taxi company. If the commuter is at a taxi stand and an expensive taxi comes along, it is difficult for the commuter to reject that taxi, without causing unpleasantness.
A better approach is for the regulator to set the standard rates for the basic taxi service (which applies to taxis picking commuters along the road or at taxi stands. Premium services can be made available to commuters who call a taxi on their special hotline, as the commuter know and accept the charges for that premium service.
We need a regulated market to be fair to all parties and to improve efficiency. We can promote competition by giving choice to consumers (e.g. to choose the doctor) and for service providers to decide if they wish to provide the service at the regulated rates. In the stock exchange, an investor has the choice of buying or selling a specific stock. This is how competition can work in a free market to give better outcome and fair prices.
Tan Kin Lian
Free Market (1)
I will be writing a few articles about the free market.
Some of the topics are:
- regulated or unregulated
- fair pricing
- access to information
- cooperation, not competition
- opportunity to work
- reduced fixed cost
- access to credit
- corporate social responsibility
- consumer protection
- customer satisfaction
Please suggest other topics and views.
Some of the topics are:
- regulated or unregulated
- fair pricing
- access to information
- cooperation, not competition
- opportunity to work
- reduced fixed cost
- access to credit
- corporate social responsibility
- consumer protection
- customer satisfaction
Please suggest other topics and views.
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