Corporate scandals at Enron corp., Tyco International Incorporation. and WorldCom Inc. demand for transparency in public places reporting of economic data. It is highly attractive and lawfully required that every organization truly does diligent work to improve transparency in financial reporting as a means for the public to regain the confidence in the industry community. It is believed that information writing is a highly effective positive action and a great ethical duty of organization. Transparency is usually desirable in any way level of supervision in each functional area, not only in finance. " Once transparency turns into part of the business vision, it might produce long-term benefits" (Hanser, 2003, l. 1). Even though management is involved that a lot of attempts to pursue transparency are in fact efforts to cull sensitive information that, if released, can damage organization. Transparency and Confidentiality has to be balanced during communication. " Transparency means helping people to see into systems and understand why decisions are taken" (Osborne, 2005, p. 292). In other words, transparency refers to a quality of visibility and candor. The privacy is defined as " an action in equity to restrain a person who has received valuable or very sensitive information in confidence coming from disclosing or making use of that information" (Lambert, 2003, p1). It means that manager should be asked to deal with the information since confidential or it must be apparent that details is given in confidence. Transparency is among those concepts that everyone needs to be in favor of. However , in real life, it's not really that simple. Administrator should know, you will find limits as to what you can reveal to the group. Total openness can lead to total chaos. This is the major situation for director whether to get transparent or perhaps maintain confidentiality. It is reasonable that there are some situations that will not become immediately revealed to an business. The question is how one can decide what falls into this category? There is no doubt that transparency is...
References: Brown, G. (2001, January 1). Is exactly what you see seriously what you obtain? Business Today (Egypt), 1 ) Retrieved Might 21, 2005, from the EBSCOhost database.
Hanser, R. (2003, November). Openness key to reconstructing trust, 21(43), 24-25. Recovered May twenty, 2004, through the EBSCOhost data source.
Lambert, M. (2003). Confidential Information. Retrieved May twenty one, 2004, from http://www.nipclaw.com/conf/basics.htm
Osborne, D. (2004, January). Transparency and Responsibility Reconsidered, 11(3), 292-300. Retrieved May twenty, 2004, through the EBSCOhost data source.