Goodwill is the only asset that competition cannot undersell or destroy
आ नो भद्राः क्रतवो यन्तु विश्वतः । Source - Rigveda 1.89.1
Meaning:- Let noble thoughts come to me from all directions.
Rarely people are not recognised for their beauty, looks, wealth or position, but they fix their position in our hearts for much longer because of their behaviour, calmness, way of talking, helping nature and most important one is how well have they treated us.
This quote highlights the esteem and significance of goodwill in any competitive environment. Goodwill refers to the positive reputation, trust, and positive bonds fabricated by a business or individual with his family, friends, customers, clients, and stakeholders. Unlike physical assets or price-based competition, goodwill cannot be easily quantified, replicated, or undermined by competitors. Goodwill exhibits the intangible but invaluable asset that one can cultivate through factors such as excellent service, ethical practices, and a strong sense of community. Goodwill strengthens a one's resilience, customer loyalty, and longevity, making it an asset that cannot be easily devalued or destroyed by competitive forces.
संगच्छध्वं संवदध्वम् ( Move together, speak in harmony), our legendary scientist and honourable president, an eminent teacher Dr. APJ Abdul Kalam, being so talented and intelligent, never missed an opportunity to imprint behaviour, warmth, patriotism, simplicity, knowledge and most important is humility. Being so competition with the skills, and accomplished ballistic missiles testing within so limited resources, made India proud, never ever abandon his basic humanity attributes. While his last breath, he was delivering the lecture and was living his dream of serving the youth with his education.
India, a developing country, is an excellent example of how to sustain the several challenges witnessing so many roller coasters yet carrying the goodwill gesture on the shoulders to pace the economic and social development. 1971, India helped Bangladesh against Pakistan to liberate the former nation and then releasing 90,000 prisoners of Pakistan as well. Extending financial assistance to neighbouring countries ie SAARC countries and ASEAN countries along with Bhutan by providing LOC (Loan of Credit) at several times. Grateful to USSR for their extensive help in 1971 and supporting Russia as much as can in recent Ukraine - Russia War. India's goodwill played an important role as Russia was about to use nuclear weapons (dirty weapons) against Ukraine, several reports claim. At COVID era, supporting many African and other nations by offering vaccines, pharmaceutical medicine 💊, masks, gloves etc. Afghanistan is supported by Wheat through UN aid intensively by India so that Afghanis can be saved from starvation.
Here are some key points to understand why goodwill is the only asset that competition cannot undersell or destroy:
1. Intangible Value: Goodwill is intangible and encompasses various aspects of a one's personality consisting of reputation, loyalty, and honesty. It is knitted by consistent ethical practices, and positive interactions with oneself and soceity. This intangible value is not replicated or easily imitated by competitors, making it a unique asset for one's personality.
2. Reputation and Credibility: Brand value of one is a critical component of goodwill. It takes time and effort to build a positive reputation, and it can be easily tarnished by negative incidents or unethical behavior. An individual with a good reputation will be trusted by stakeholders, giving it a competitive advantage. Competitors may attempt to undermine a one's reputation, but the goodwill built over time acts as a protective shield, making it difficult to completely destroy a well-established reputation just like abrogation of art. 370 and abolition of internet services at Kashmir doesn't matter much to the UN human rights commission because of India's goodwill and positive history of not undermining any specific community.
4. Emotional Connection: Goodwill often creates an emotional connection. This emotional connection makes it challenging for competitors to sway stakeholders, as they have a strong attachment built on goodwill.
Conclusion, - Goodwill is an invaluable asset. The ordinate that pillars on the faith and belief, never ever dismantles easily. Our traditional and cultural stresses to work on the moral values and mother nature will be reverting back in the similar manner as one does.
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