Transparency doesn’t just help businesses become financially successful. Transparency is the extent to which investors have ready access to required financial information about a company, such as price levels, market depth, and audited financial reports. 311 Software. Remaining honest is also important as companies adjust and adapt. Business Ideas; Starting a Business; Marketing; Internet Marketing; Management; Finance; Leadership; More Home Office; Legal Issues; Mailing & Shipping; Security; Technology; Tips; Marketplace; CareerKnowhow.com ; Home; Manage; 5 Ways to Increase … Another word for transparent: clear, sheer, see-through, lucid, translucent | Collins English Thesaurus By clinging to the opaque reality we stall our evolution.” ― Penney Peirce, Transparency: Seeing Through to Our Expanded Human Capacity In other words, make sure that those who come in contact with your business are able to know the people who actually run it. If it’s relevant to what you do, the people affected have a right to know. Returning to the issue at hand, it becomes clear then that the true purpose of transparency is not simply to appease regulators, to increase profits, or to please shareholders. What Is The Difference Between “It’s” And “Its”? Log in. Learn more. By and large, the verdict is this: There are many positive effects that can come out of being more transparent, and just about zero negatives. Transparency and accountability are generally considered the two main pillars of good corporate governance. What are synonyms for transparency? And whether you are a solo operation, own a small business, or help run a large multinational corporation, a few guidelines apply universally in efforts to increase business transparency. Although it’s true that the messaging of transparency ought to be mended into the communication strategy of every business, it is precisely this mindset that makes this discussion so necessary. The best definition of transparent in business circles is financial statements of high quality. People can smell you-know-what from a mile away, so don’t decorate your transparency initiative with needless fluff that will at best distract from your message or worse, cause direct harm to it. Find another word for transparent. See more. A business that truly increases the well-being of all that its operation affects has little, if anything to hide. It ought to be seen as an opportunity to reallocate resources in a way that creates increased value for customers and communities, which in turn will yield increased profitability and long-term sustainability for the company. This is the British English definition of transparency.View American English definition of transparency. 9 out of 10 consumers will stop purchasing from brands that lack transparency. In modern companies, keeping workflow transparent and obvious to … You hear many stories of employees who thought something was one way within their organization only to find out later that it was not. “Epidemic” vs. “Pandemic” vs. “Endemic”: What Do These Terms Mean? Lauby continues, “If you neglect to include something—that others might have thought was important—this will impact your…credibility as much as lying outright.”. Financial transparency, along with clear key numbers that everyone can focus on, can help to drive profitability and success. If you’re looking to promote transparency in the workplace, read on! There are so many definitions in the dictionary. Such a rationale can be found when one considers the company that they run not only as a means of earning a profit but as an extension of one’s own personal reputation. For example, a cashier making change after a point … 7.5%. By clinging to the opaque reality we stall our evolution.” ― Penney Peirce, Transparency: Seeing Through to Our Expanded Human Capacity Whether it's bad business ethics related to executive behavior, creative accounting techniques, lack of transparency, political contributions, or fraud, it all spells disaster for … Antonyms for transparency include opacity, cloudiness, opaqueness, turbidity, turbidness, murkiness, unclearness, ambiguity, ambiguousness and mysteriousness. Customers, employees, communities—they all hold a stake in the way that a company conducts itself. However, as soon as one of those details becomes public knowledge, that business’s reputation—and the reputation of the people running it—are compromised. There are certainly many answers to this question, but a simple way to boost productivity is by implementing information transparency, especially in regards to processes and decision making. And as a result, many have come to question the authenticity of those who use transparency as a part of their normal vernacular. Janet Yellen. The transparency created from the clear of a goods price match with the total bill. Transparency definition: A transparency is a small piece of photographic film with a frame around it which can be... | Meaning, pronunciation, translations and examples similar meaning - 8 Lists. Find answers to technical questions, directly ask experts, learn new skills, and more. Meaning Of The Word Transparent Before discussing importance of transparency in financial reporting, you must first understand what the word transparent means. Blogs, social media, email campaigns—all of these outreach mechanisms allow you to maintain a continuous dialogue with customers and community alike. Both of which reduce the costs of needless changes while increasing the appeal of the good or service your company provides. Transparent: easily seen through. Office 365 lets you adjust the opacity of a picture. What is the meaning of transparency? Transparency in business requires entrepreneurs to remain open and informative about key points of information, including their business's goals, history, performance and operations. This is definitely something to think about more as you go about managing and marketing your business. Each year, Experts Exchange awards members who've gone above and beyond to help others solve their technology problems. language in Towne v. Eisner (1917) 245 US 418 that "a word is not a crystal, transparent and unchanged; it is the skin of a living thought and may vary greatly in colour and content according to the circumstances and the time in which it is used". All too often, critical details of how a company operates are divulged on a “need to know” basis. Transparency helps minimize price … It is about the ability of the receiver to have full access to the information he/she wants, not just the information the sender is willing to provide. A transparent workplace nurtures an environment free from fear, encourages employees to be open about their achievements and mistakes and can overall create a safer, more positive environment. Make one color of a picture transparent. Girls Who Code: How One Teacher Makes a Difference With Early Exposure to Computer Science. Transparency definition, the quality or state of being transparent. But there’s a greater reason that these things are true. It makes them good citizens. To be sure, the purpose of transparency is to demonstrate that a company is truly the kind of business that it wants people to think it is. 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