The actions of management in corporations need to be transparent to its stakeholders. In an initial post of 300 words or less, what does this mean and what are the benefits of management being transparent? What would be an example of this in business today? How does Proverbs 21:26 guide us in this endeavor?
Support your post with two scholarly journal references from outside sources and/or Regent University database.
Reply to two, in 125 words or less, supporting or challenging their beliefs.
Above is our main post that we had to do. Below is one of my fellow students post that I need to respond to.
“Transparency is often cited as essential to the trust stakeholders place in organizations” (Schnackenberg, 2014). So, what exactly does it mean to be transparent? If it is so crucial, why doesn’t every company work this way? Transparency can be defined as “a principle that allows those affected by administrative decisions, business transactions or charitable work to know not only the basic facts and figures but also the mechanisms and processes” (Viso, 2013).
Proverbs 21:26 states, “All day long he craves for more, but the righteous give without sparing.” This verse shares a strong correlation with the concept of transparent in management. Managers who work with transparency have nothing to hide, therefore they will give their client all of the information they need to know. Those who do not work in such a fashion will hide certain aspects of their companies. For instance, often times nowadays, companies will hide their past economic struggles, any crime reported within, or hidden numbers that they may spring on the client at the last minute. It is much better to work with transparency because this leads to a world of trust between the client and the business, which thus means they will be loyal in where they bring their money and where they recommend their connections to do so as well.
Schnackenberg, A. (2014). Organizational Transparency: A New Perspective on Managing Trust in Organization-Stakeholder Relationships. Sage Journals. Retrieved from http://journals.sagepub.com/doi/abs/10.1177/0149206314525202
Viso, T. (2013). Examining Transparency in Crisis Management. Open Access Thesis. Retrieved from http://scholarlyrepository.miami.edu/oa_theses/410