Customer & Supplier Qualification Policy
Our mission statement is Look Good, Do good.
A vital element of our Cycle of Good (available here) is “Good People”.
Qualifying new customers or suppliers is an important step in building a successful business and ensuring we work with Good People.
By setting exclusion criteria for new customers & suppliers we can protect ourselves from potential legal, financial, or reputational risks. It also helps to ensure that we work with organisations who align with our values and goals.
As a company committed to social responsibility and sustainability, we recognise that certain industries have a negative impact on society and the environment. Some examples of these include but not limited to:
Agribusiness Producers in Brazil (2020)
Banking in Switzerland (2019)
Bottled Water Companies (2021, revised)
Cannabis-Related Products (2019)
Casino Industry Companies (2020)
Charity Lotteries (2022)
Debt Collection Agencies in Emerging Markets (2019)
Engineering Consulting Companies with Clients in the Defence Sector (2020)
Financial Services in Tax Havens and Wealth Planning Structures (2022)
Firearms
For-Profit Higher Education (2015)
Fossil Fuels & Energy Companies (2020)
Genetically Modified Organisms (GMOs
Marketing of Breastmilk Substitutes (2022)
Mining Industry (2021)
Nuclear Power
Orphanage-Based Volunteer Programs (2016)
Pharmaceuticals
Prison Industry and Labour (2022)
Serving Governments Tied to Human Rights Violations (2020)
Tax Strategies & Tax Advisory Services (2020, revised)
Tobacco
Water Utilities (2022)
Zoos, Aquariums, and Animal Parks (2016)
Additionally, we use exclusion criteria determine which organisations we will not do business with. Our exclusion criteria includes:
· Illegal activities: We may exclude customers or suppliers who engage in illegal activities, such as fraud, money laundering, or other criminal activities. If there is a patent dispute or a non-compete clause in a contract, we may not be able to collaborate.
· Non-compliance: We may exclude customers or suppliers who do not comply with regulations, laws, or ethical standards in their industry.
· Reputation: We may exclude customers or suppliers who have a negative reputation or a history of unethical practices, such as discrimination or exploitation.
· Financial stability: We may exclude customers or suppliers who have a poor credit rating, payment history or financial instability.
· Conflict of interest: We may exclude customers who have a conflict of interest, such as competitors or customers who work with our competitors.
· Values and Ethics: We hold strict values and ethics which may conflict with the values and ethics of the other company. For example, we may choose not to work with a company that has a history of unethical practices.
· Lack of trust: We may not trust the other company to deliver on their promises, meet deadlines, or maintain confidentiality. If there is a lack of trust, it may be difficult to establish a productive working relationship.
· Inadequate needs: We may exclude customers who have needs that we feel we cannot adequately address or fulfil.
By setting exclusion criteria for new customers & suppliers, we can protect ourselves from potential legal, financial, or reputational risks. It also helps to ensure that we work with customers who align with our values and goals.
To effectively qualify new customers or suppliers and determine if they are a good fit for our business we may qualify them using the following:
· Research: Conduct research to understand the customer's industry, their business model, their target audience, and their competitors.
· Budget: To determine if the customer has the budget to purchase our products and services. We may ask about their budget during the initial conversation or ask for a budget range.
· Needs Analysis: We may conduct a needs analysis to understand the customer's specific needs and requirements. This will help us determine if our product or service can meet their needs.
· Decision-making process: Understand the customer's decision-making process. Determine who the decision-makers are, what their decision criteria are, and what their timeline is.
· References: We may take references from the customer or suppliers current or past acquaintances. This will give us an idea of the customer's reputation, work ethic, and professionalism.
· Social Media: We may review social media surrounding the customer's or supplier’s company, industry, and executives. This will help us understand their brand and how they engage with their audience.
· Intuition: Sometimes, you just have to go with your gut.
We believe that by adhering to this policy, we can contribute to a more sustainable and socially responsible business environment. However, we understand that there may be exceptions to these criteria based on certain circumstances, and we reserve the right to make exceptions on a case-by-case basis.
