Question

transparency involves sharing all relevant information with stakeholders. It is “a principle that allows those affected by administrative decisions, business transactions or charitable work to know not only the basic facts and figured but also the mechanisms and processes. It is the duty of civil servants, managers and trustees to act visibly, predictably and understandably”

Required

Discuss how your views on transparency compare to the above post. Do you think different educational or professional experiences affect those opinions? Use specific examples to support your comparisons, if possible.

Answer 1

Transparency is worth every seeks who is outside of the organisation. Every stakeholder expects transparency from the organisation in which they have invested. The meaning of transparency is the willingness to share information with everyone who is connected with the organisation. Everyone can know what is happening in the organisation. Transparency implies openness, communication and accountability.

It is “a principle that allows those affected by administrative decisions, business transactions or charitable work to know not only the basic facts and figured but also the mechanisms and processes. It is the duty of civil servants, managers and trustees to act visibly, predictably and understandably”

Transparency leads in building trust. Transparency is must if any organization is to grow and wants his capital from investments. For anyone who is new to the organisation, for him transparency is like knowing the organisation better and building up an image of the organisation.

Different educational or professional experiences, very much affects the opinion on transparency, as such people works towards society and their views always make an impact on the society. So whatever opinion they make are always considered and transparency is an important thing in viewpoint of stakeholders so they are always considered.

Example :-

Considering two companies, one with transparency and other without transparency. The company without transparency will get funded once but stakeholders after knowing the real image of the company will never invest in it again.

But the company with transparency is more likely to remain always funded from stakeholders as what is the company is from outside is what it is from inside.