Importance of cautionary tales

Cautionary tale

Cautionary tales are the tales which are used as an example or to warn the readers about the consequences of being flawed in character or judgment. Sometimes, cautionary tales can also incorporate social problems and their impact on ordinary lives. From a business point of view, cautionary tales offer a case study and enable the businessmen to learn from the mistakes made by others. This helps them to make better-informed decisions and helps them in the future.

Importance of cautionary tales

In the present competitive world, lack of competence can result in many harmful effects. Since the consumer base is growing, people are experiencing a wide range of choices that are being made available to them through competition between brands. Although most of the employees working today at those industries are precise and professional, many are immoral and have flaws in their service (Leighton, 2016).

These flaws are dangerous, both for the consumer and the business. The consumer receives goods or services of improper quality, as a result of which he/she may complain to higher authorities associated with the business or discuss this incompetence with others, resulting in a bad public image of the business. Negligence on the part of the businessmen can also attract lawsuits, which may tarnish the image of the company and can be a cause of financial loss (Cavico et al. 2017).  For some famous companies who are based globally, negligence in service may cause public protests. It can attract media attention, which can cause irreversible damage to the company’s reputation, loss of investor interest, a decline in stocks, and other problems.

Example of a cautionary tale

Once, a man ordered some groceries online from Spencer’s mobile app, which showed that canned peaches were available in stock and were eligible for home delivery. After placing the order and paying through and an online payment gateway, he received a call just minutes before the scheduled delivery time that the canned peaches were not available, and the money would be refunded back in his account. The refund did not arrive until the deadline provided by Spencer’s employee, and the man rushed to the store to contact the duty manager in person. There, he spoke with the manager, who assured him that his money would be refunded in his account, but the payment came two days later than the promised time.

This incident describes many problems with Spencer’s store. Firstly, their databases were improperly maintained, due to which the refund came late. Secondly, the personnel working in the store were incompetent, due to which they informed him just minutes before the delivery time and not before. Thirdly, the refund being delayed even after being assured by the duty manager shows unwillingness and incompetence on the part of the store. This incident had caused the unsatisfied customer to take action against the store by posting it on his social media account, which had further drawn attention from many people who had commented about the incompetence of the store and employee negligence. This had generated a negative image of the entire Spencer’s retail chain, due to the mistake of one store, which applies to every business (Philp, & Nepomuceno, 2018).