Agencies Helping Businesses and How the Regulate Them
Introduction
Business agencies specialize in strengthening businesses by training employees and offering sales and business strategies. The agencies work in partnerships with businesses to determine how best they can support them through growth and developing business tactics for them to remain in the market despite any competition from competitors (Folkerts, 2013). They help the businesses to review and develop its competitive strategy, and help them to come up with the foundational elements like Leadership and Organizational Development, Culture and Values, right through to Sales Processes and People. Agencies insist that there is no one size fit approach in their operations but they are flexible work with any business and assign expertise to create the right business solutions for businesses and within your affordable budget. The agencies can help businesses to access affordable expertise through consultancy and advisory services, training employees, workshops, coaching programs, mentoring programs, facilitating of key meetings and outsourcing services .
How Agencies Help businesses
Regardless of the size of the business, the agencies can easily give expertise when and where needed. The services of the agencies are tailored to business’’ particular needs. They work with businesses so that they can develop a deeper understanding of the business’s needs and in most cases their charges are affordable. Many business agencies have a deep experienced with well trained staff, consulting experience, and proven results.
Their HR services include operations human resources support like the development of employee relations, human resource policies and developments, grievance investigations and they do this through strategic human capitals and HR. They ensure that they have come up with a strategy that that will meet the business needs, organizational development, change in management, outplacement strategies, work force planning, merger and acquisitions, employment engagements, talent management strategies, restructuring and culture change.
Additionally, their professional couching services to the business include management coaching like supervisory and management skill development. Career coaching includes developing soft skills like assertiveness, conflict resolution and time management. They similarly offer executive and leadership coaching where they train development of an effective leadership style and emotional intelligence. Their business franchise coaching includes marketing and sales training.
Business agencies as well offer Professional Training Services. These services include mentorship programs, team building, service excellence, sales excellence, and personal development programs. They help businesses to have strategic and tactical sales options to compete favorably with their competitors (FitzRoy, Hulbert, & Ghobadian, 2012).
Regulation of businesses by agencies and fiduciary duties
Agencies have an obligation to act in the best interest of, and for the benefit of the businesses that they are representing and offering professional advice to (Altman, Danovi, Falini, 2013). The duties owed by agencies to businesses differ in relation to the size of the businesses represented. Most of these duties are rooted in the common law. Some of these fiduciary duties are discussed below:
Duty to act in the interest of the business
The business agency must act on the best interest of the business it is working for. This means that an agency must give priority to the interest of the business. The agency should not work in order to benefit itself but rather ensure that the organization in question is fully attended to and its objectives are met.
Duty of Accountability to the business
An agency is responsible for its actions to the business represented. This means that an agency must do its work according to the laid regulations (Hess, 2013). In case the agency breaches the rules and regulations that govern agency business, they will be held responsible for their actions. Therefore agencies must ensure that they execute their duties as per the laid down rules and regulations.
Full disclosure of relevant information
Once an agency has accepted to offer its services to any business, it should be faithful and provide all the necessary information the business represented. This is very important because the business will use such information to improve its services and developments. Full disclosure is in line with the doctrine of ubarimae fidei, commonly referred to as utmost good faith. This is a doctrine that serves to guard the interests of both parties, who in this case are the agencies and the businesses. Failure to adopt a policy of full disclosure could lead to unforeseen disturbances in organizations.
Conclusion
Agencies are very important in ensuring that business succeeds. They offer professional advice to the businesses. These professional services are broad and they cover a wide area involving management strategies, trainings, mentorship and teambuilding. They equally cover human resource services to ensure that businesses have trained leaders to drive their businesses to the next level (Hess, 2013). Agencies must follow the laid down rules and regulations governing business agencies. These regulations ensure that the agencies stick to their duties and obligations. In case the agencies breach such fiduciaries, the businesses have an opportunity to demand justice from the relevant authorities. For the agency business to be successful, it should ensure that the interest of the business presented is given priority and its interests are met.
References
Altman, E. I., Danovi, A., & Falini, A. (2013). Z-Score Models’ application to Italian companies subject to extraordinary administration. BANCARIA, 4, 24-37.
Ashcroft, J. D. (2013). Cengage Advantage Books: Law for Business. Cengage Learning.
FitzRoy, P. T., Hulbert, J. M., & Ghobadian, A. (2012). Strategic management: the challenge of creating value. Routledge.
Folkerts, J. (2013). Book Review: Advertising at War: Business, Consumers, and Government in the 1940s, by Inger L. Stole. Journalism & Mass Communication Quarterly, 90(2), 390-391.
Hess, F. (2013). Free Help from Uncle Sam to Start Or Expand Your Business. eBookIt. com Store.
Hess, F. (2013). Free Help from Uncle Sam to Start Or Expand Your Business. eBookIt. com Store.
