Home Business Honest Pricing and Employee Loyalty Drive Business Success in Ghana

Honest Pricing and Employee Loyalty Drive Business Success in Ghana

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In a move to address the challenges faced by businesses in Ghana, Mr. Micheal Adjei, Managing Director of Michael Adjei Company Limited, has emphasized the importance of honest pricing and employee loyalty as the cornerstones of sustainable business growth.

Speaking at the commissioning of the company’s new multi-purpose wholesale branch in Sunyani, Mr. Micheal Adjei revealed that the pursuit of quick profits is one of the primary reasons why some businesses in Ghana fail to thrive.

“Most businessmen want to price their products three times the actual cost, thinking that this will lead to quick profits,” he said. “However, this strategy often backfires, as consumers are now more informed and can easily compare prices with just a click on their phones.”

Mr Michael Adjei stressed that businesses need to nurture their growth gradually, rather than seeking immediate financial gains. “Customers are sensitive to pricing, and if they perceive a product as too expensive, they will simply stop buying it, leading to the eventual expiration of the goods,” he explained.

The Bono Regional Minister, Madam Justina Owusu Banahene, who was the guest of honor at the event, echoed Mr. Michael Adjei’s sentiments.

She urged workers to refrain from stealing from their employers, emphasizing that the business that employs them is the very source that feeds them and their dependents.

“If workers steal from the business and it collapses, they will lose much more,” she said.

Madam Justina Owusu Banahene also called for increased attention to workers’ safety in the workplace, noting that in Ghana, industrial accidents are often attributed to spiritual reasons, rather than being addressed through proper safety measures.

The commissioning of the new Michael Adjei Company Limited branch in Sunyani marks a significant step forward in the company’s efforts to expand its reach and provide quality products and services to the local community.

By embracing the principles of honest pricing and employee loyalty, the company aims to set an example for other businesses in the region, ultimately contributing to the long-term success and prosperity of the Ghanaian economy.

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