Description
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.
Sources
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
Explanation & Answer
Attached.
Running head: BENEFITS OF TRANSPARENCY IN MANAGEMENT
Benefits of Transparency in Management
Name
Institution
1
BENEFITS OF TRANSPARENCY IN MANAGEMENT
2
Benefits of Transparency in Management
Business’s stakeholders are the backbone of the business (Azarmi, & Schmidt, 2017).
They are the primary cause of failure or success for most businesses. Oblivious to this fact, most
top management keeps information about the business close to the vest, causing cultivation of
speculations and rumors from the employees, the customers, and the suppliers. Some false news
can cause fear and unrest among the workers, suppliers as well as the customers. However,
openness and honesty about the business operation’s aspects have numerous...
Review
Review
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Similar Content
Related Tags
Little Women
by Louisa May Alcott
Sounds Like Titanic
by Jessica Chiccehito Hindman
Herzog
by Saul Bellow
The Trial
by Franz Kafka
The Age of Innocence
by Edith Wharton
We Were Eight Years in Power
by Ta-Nehisi Coates
Gone with the Wind
by Margaret Mitchell
Death Of A Salesmen
by Arthur Miller
The Awakening
by Kate Chopin