Technology and Transparency: Pro Argument

It is a good thing for businesses that technology is forcing them to be more transparent. Transparency allows businesses to be honest towards their shareholders, employees, customers and the general public. Transparency doesn’t mean it’s a totalitarian control; it means to share information to get appropriate feedback on your products in the marketplace, how your customers are being dealt with, and where the money goes or comes from.

With each technological advance, it forces companies to be more honest about their firm to inform the before-mentioned people. It’s not only a good thing, it is essentially required because now is the age of transparency.

One major proponent of transparency is the Sarbanes-Oxley Act (SOA) from the US. The SOA encourages “greater information transparency, accuracy, and accelerated reporting”. This means that everything from financial records to e-mail communications are affected in all branches such as management, maintenance, and data archiving. The SOA forces businesses to report quickly and accurately. At the same time, governments are calling for greater transparency from companies about their incidents and security preparedness, as well as increasing requirements for data privacy within firms. Thusly, transparency could actually be a major driver of increased organizational performance.

The Internet is one of the biggest transparency force driver through technology, where news travel faster than ever and information can be vulnerable. So transparency is about preparedness and security. Lastly, it can be said that consumers are in control of businesses because of the vastness of the Internet and its social platforms and forums, these customers can tell everyone how they feel about the firm – and they do. So for companies, they want to be on their good side and make sure all data is in the open to satisfy them.

The digital world has a lot of power in the sense that everything can be balanced or unbalanced depending on...