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Transparency in Business: The REAL Key to Making Wise Consumer Investments

keeping business practices in the open

With thousands of businesses in dozens of different sectors operating worldwide, today’s consumers have more choices than ever, not only in the goods and services they buy, but also in the companies they back through donations, share purchase and other forms of investment. As a consumer in this highly competitive environment, you should be using transparency as one of the leading factors in deciding which companies deserve your attention. What Does Transparency Mean? Transparency means that a company is open and honest with you and other members of the public. It readily provides non-confidential information, either upfront or by request, so that you are better able to make decisions about what to do next. The information can be anything from the status of a service request to the earnings for the quarter, but it always reveals something about what is going on inside the business. Why Transparency Matters Poor transparency can mean a company is operating inefficiently, either because of a lack of resources or skills, or because there are interpersonal conflicts present among employees. This situation is negative for you as a general buyer because it usually means that you have to wait for what you need or want, ...

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