Getting Competition Law wrong can be disastrous. Your business can be fined up to 10% of its global turnover with further criminal sanctions for directors and individuals! As importantly even the suspicion of malpractice can cost £000’s in senior management time, lawyers’ fees and missed opportunities. Lack of systems and processes for dealing with sensitive information, poor communication skills amongst employees dealing with customers and competitors can all create problems. Without mentioning that your customers will use it as negotiation tactic against you, claiming they simply can’t talk about price! Knowing where the line is and confidently stepping up to that line is a crucial skill for all commercial and externally facing staff via effective compliance.
Call to Action
It is therefore a key business imperative that clear policies and procedures are in place and where we have these that we test and train our people to adopt and understand how to remain commercially effective whilst dealing with the demands of the retailers. As a key partner we can help devise effective policies, audit adherence to guidelines and with our highly experienced lawyers and commercial trainers in the room we test scenarios and negotiation situations, allowing your teams to proactively use competition law to your commercial advantage. Just as your customers are!
Don’t let competition law become a barrier to doing business, understand it, adhere to it and don’t be scared of it, it can become a key advantage.
LETS TALK ABOUT PRICE…..we need to!
For a confidential conversation please contact Paul@smithcarey.co.uk