Question

What is transparency in business communication and how does it build trust among the communicators?

Why should proprietary information with competitors or vendors not be shared?

Why is intentionally withholding reliable information based on personal bias an unacceptable business communication practice?

What types of benefits are generated from providing accurate information consistently within business communication?

Why should assuring transparent business communications be a conscientious decision and an intentional business best practice?

Answer 1

Q.What is transparency in business communication and how does it build trust among the communicators?

A. Transparency is really important in business communications. It refers to the process of sharing the information which could be shared with the stakeholders without changing or misleading facts. From financial performance to future growth strategies, when information which is crucial for the business is shared with the stakeholders in the truest form, it leads to building trust between the stakeholders of the company and the company management. This helps in increasing the goodwill of the company and helps it in achieving long-lasting success in the industry compared to other companies that convey misleading facts and numbers to their stakeholders.

When a company is truthful to its stakeholders, it leads to trust-building between them. It also helps in strengthening the relationship between the company and stakeholders. Also, prospective investors often rely on the perception of the stakeholders about the company while deciding whether to invest in the company or not.

A positive relationship will help the company in getting investment, exposure and positive word of mouth which will lead to higher success in the future.