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Transparency implies openness, communication, and accountability. Transparency is practiced in companies, organizations, administrations, and communities. [1] For example, in a business relation, fees are clarified at the outset by a transparent agent, so there are no surprises later.
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper.
Corporate transparency describes the extent to which a corporation's actions are observable by outsiders. This is a consequence of regulation, local norms, and the set of information, privacy, and business policies concerning corporate decision-making and operations openness to employees, stakeholders , shareholders and the general public.
Examples of narrower definitions in particular contexts include: "a system of law and sound approaches by which corporations are directed and controlled focusing on the internal and external corporate structures with the intention of monitoring the actions of management and directors and thereby, mitigating agency risks which may stem from the ...
A 2014 session by the United Nations Conference on Trade and Development promoting corporate responsibility and sustainable development.. Corporate sustainability is an approach aiming to create long-term stakeholder value through the implementation of a business strategy that focuses on the ethical, social, environmental, cultural, and economic dimensions of doing business. [1]
Openness is an overarching concept that is characterized by an emphasis on transparency and collaboration. [1] [2] That is, openness refers to "accessibility of knowledge, technology and other resources; the transparency of action; the permeability of organisational structures; and the inclusiveness of participation". [2]
Within the realm of business, intellectual honesty entails basing decisions on factual evidence, consistently pursuing truth in problem-solving, and setting aside personal aspirations. The adoption of intellectual honesty by organizations is thought to foster a culture of ongoing learning and receptiveness to novel ideas.
For example, to behave with scientific integrity, a scientific investigation shouldn't determine the outcome in advance of the actual results. As an example of a breach of this principle, Public Health England , a UK Government agency, stated that they upheld a line of government policy in advance of the outcome of a study that they had ...