Why Transparency Matters…Impacting Reputation - A blog by Courtney Zegarski
Courtney Zegarski is an experienced research and communications professional with a passion for corporate social responsibility and social entrepreneurship. Courtney writes extensively for the Social Endeavors Blog.
Why Transparency Matters…Impacting Reputation
What does it mean to be a transparent organization? While transparency includes honesty, it is more than just telling the truth when asked. Transparency at its best involves pro-actively communicating with stakeholders (consumers, suppliers, employees, shareholders, etc) on all aspects of business. Being transparent does not mean one has to reveal confidential information or give away company secrets. Rather, it can entail explaining an organization’s motives, responsibly alerting customers to potential product risks or setting expectations with employees.
Why does transparency matter? Importantly, transparency can make a significant impact on a company’s reputation and ultimately their bottom line. Pro-active communication can foster greater trust with consumers, employees and suppliers—enabling them to give an organization the benefit of doubt in tougher times. Transparency is not about being “nice” to stakeholders or doing what “feels good”—it serves a critical business purpose.
