bizSugar - In the Game of Business, Playing Fair Can Actually Lead to Greater Profits

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In the Game of Business, Playing Fair Can Actually Lead to Greater Profits

Posted by JohnH 110 days ago (http://knowledge.wharton.upenn.edu)
Category: Strategy | Tags: fairness negotiation cooperation vendor relations

Many people aren't purely mercenary in their business dealings. They care about fairness -- and they should because doing so can maximize their profits. When people are fair minded, they don't need to waste time on elaborate negotiations or enter into complicated contracts to coordinate their marketing channel and maximize profitability, according to John Zhang and Jagmohan Raju, both Wharton marketing professors, and Tony Haitao Cui, a University of Minnesota marketing and logistics professor. View full story...

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