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An old force with new power is rising in business, one that has far-reaching implications for most everyone. Nascent for half a century, this force has quietly gained momentum through the last decade; it is now triggering profound changes across the corporate world. Firms that embrace this force and harness its power will thrive. Those which ignore or oppose it will suffer.
The force is transparency. This is far more than the obligation to disclose basic financial information. People and institutions that interact with firms are gaining unprecedented access to all sorts of information about corporate behavior, operations, and performance. Armed with new tools to find information about matters that affect their interests, stakeholders now scrutinize the firm as never before. The corporation is becoming naked.
This is good news for all of us - customers, employees, partners, shareholders, and citizens - no matter what stakeholder hats we wear - because corporations have become central to our lives and communities. Stakeholders have an unprecedented opportunity to scrutinize the corporate world, new power to influence performance, and the power to potentially cripple companies overnight. What will stakeholders do with this new influence? And how should firms operate in the face of it?
Corporations that are open in the face of these pressures perform better. Transparency is a new form of power, which pays off when harnessed. Rather than to be feared, transparency is becoming central to business success. Over time, "Open Enterprises" - firms that operate with candor, integrity, and engagement - are most likely to survive and thrive.
The book The Naked Corporation: How the Age of Transparency Will Revolutionize Business pioneered the discussion of transparency and catalyzed a broad debate among company leaders about the implications for business. The book resonated strongly with its readers, and provides a framework for analyzing today’s corporate environment. This site is the vehicle for continuing this discussion. Here we explore how:
- Transparency and corporate values enhance market value
- Transparency has an organizational form
- Transparency brings a power shift to employees; and employees of an open enterprise have greater trust in one another and their employer
- Transparency is critical to business partnerships
- Corporations that align their values with those of the communities they touch, and behave accordingly, can develop sustainable business models.
The best firms have clear leadership practices that others can adopt. They understand that investments in good governance and transparency deliver significant payoffs: engaged relationships, better quality and cost management, more innovation, and improved overall business performance. They build transparency and integrity into their business strategy, products and services, brand and reputation, technology plans, and corporate character.
Learn how you can make transparency part of your company's DNA. Learn how transparency can help your business succeed.
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