Originally Posted By: KrisZ
Once you realize that the company doesn't ensure anything in your life and especially the roof over your head perhaps you will understand my argument. I never said anything about biting the hand that feeds me, but at the end of the day the relationship with the company I work for is nothing but a business transaction. I provide a service, know-how and experience and in return the company pays me for that. That's where the transaction ends. I also fully understand that both the cmompany and I can terminate the agreement at any point.
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On the same vein, it is up to the company, or people in charge, to ensure that the company prospers and pays its shareholders, even if it means firing me and hiring someone else, or firing everyone and opening up a shop in China. Get it? There are no IOUs. Times were different few decades ago, but not because companies were better, but because the market was different. But there were no IOU's back then, and there are certainly none now.
Yup and unless you are self-employed (and even then it applies but to a lesser extent) you are still somewhat dependent on the company. You don't get it that they are all intertwined.
So let's say you work for company X and they make widgets.
Scenario 1: You and your coworkers buy the company's widgets. That keeps sales up, profits up, and shareholders happy. You tell your friends that the widgets are good. That gets sales up, profits up, etc. Everyone is happy and you have a job because the company is doing well and you are needed.
Scenario 2: You and your coworkers buy your competitor's widgets. Your friends notice and also buy competitor's widgets. Sales go down, the company downsizes, outsources to China to keep the shareholders happy. Congratulations, you are now out of a job!
It's not rocket science and just being smart. It may not 100% ensure you will have a job but it surely can't hurt.
Similar things also apply for shareholders - buy the products from the companies you own and to help ensure future growth and dividends.
Smart businesspeople know that - it was Henry Ford that realized the best thing was to pay his workers enough so that they could afford his products. And, what do you know, 100+ years later his company is still around!