"In business a reputation for keeping absolutely to the letter and spirit of an agreement, even when it is unfavorable, is the most precious of assets, although it is not entered in the balance sheet"
- Lord Chandos
About this Quote
This quote by Lord Chandos talks to the significance of supporting one's word in business. It recommends that having a credibility for being dependable and trustworthy is more valuable than any tangible asset. This is because it is not something that can be easily measured or participated in a balance sheet. It is a reflection of one's character and stability, and it is something that can be developed in time. It is a sign of regard for one's partners and customers, and it can be a significant consider the success of a company. In the long run, having a reputation for keeping one's word can be more beneficial than any short-term gains that might originate from breaking it.
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