Transparency as a competitive advantage
First of all, transparency means giving each employee access to all of the company’s strategic information, regardless of their hierarchical level. First coined in 1993 by John Case as Open Book Management, “the information that employees receive should not only help them to do their jobs, but to better understand how the company as a whole works”.
In other words, for John Case, companies work better when employees feel as involved as their top managers.
Beyond this notion of transparency, it is also about training employees in the company’s global strategy so that they understand what is at stake, feel involved in the operation of the company and thus contribute to its profitability.
Transparency in companies: a strategic value
Transparency is one of the pillars of success, both for the company and for its teams.
According to Forbes, it facilitates exchanges between team members and allows problems to be resolved more quickly. It also helps to instill greater trust in management, which has a direct impact on well-being at work and performance.
In addition, when there is trust, teams tend to feel more valued and to stay longer. This reduces staff turnover and the cost of hiring new staff. In the same way, employees who feel good in their company will not hesitate to recommend and co-opt their acquaintances to join them.
But for it to be effective and to have a tangible impact on employee engagement, it needs to be more than two or three announcements a year. It has to be an integral part of corporate culture and of an internal (and increasingly external) communication strategy.
Transparency and Accountability in Public Administrations
For public administrations, transparency is an obligation. The purpose of Law 19/2013, of December 9, on transparency, access to public information and good governance, is to promote and reinforce the transparency of public activity, to regulate and guarantee the right to information related to such activities and to define the duties of public officials in matters of good governance.
The law applies to all public administrations and to the entire public sector of the State, as well as to other institutions, such as the House of His Majesty the King, the General Council of the Judiciary, the Constitutional Court, the Congress of Deputies, the Senate, the Bank of Spain, the Ombudsman, the Court of Auditors, the Economic and Social Council and other similar autonomous institutions, within the framework of the activities of administrative law.
The law establishes the advertising obligations affecting public entities to ensure the transparency of their activities and regulates the right of access of citizens to public information.
Transparency in the digital age
The digital era has transformed the landscape. Information is now more accessible than ever and expectations for transparency have increased. Companies and administrations must adapt to this new reality and use digital tools to share information in an active and accessible way.
Digital transparency also offers opportunities for collaboration and innovation. For example, open data can be used by researchers, entrepreneurs and citizens to develop new products, services or policies.
The digital era has made it possible to implement a series of tools that promote transparency, such as InfoEmpresa.com. Our service provides access to financial and commercial information about companies in Spain and other European countries, promoting transparency and access to information. Users can get detailed information about the ownership structure, directors, financial statements, and more. This information is of great value to investors, competitors, suppliers and customers, as it allows them to make informed decisions. In addition, companies can use platforms such as InfoEmpresa.com to demonstrate their commitment to transparency and increase trust in their operations.
