Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
There are two aspects that contribute to the health and well-being of every company: the goods and services sold and goodwill.
While it’s obvious how the sale of goods and services contributes to your company’s well-being, it’s important not to overlook the value of goodwill.
A company that understands the value of goodwill recognizes that not every aspect of a business can be a profit center. Whether it’s providing service to support a product, maintaining older products to retain customers, or being a generous donor to community charities, building goodwill is an important step in helping your employees, your customers, and yourself acknowledge who you really are.
However, you still need to understand how these goodwill activities contribute to the success of your company. Most often, such activities are recognized as part of making and sustaining your brand - and that, in turn, is reflected in your bottom line.
Marilyn Holt, CMC
Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.