More than a buzzword: transparency key for small businesses
Transparency is more than just a buzzword, though board meetings and industry events tend to overuse the term. Saying it and successfully executing it are two different things. CFOs can strip away the superficiality by helping other leaders understand that transparency makes good ethical and business sense.
David Stack’s latest piece written for Entrepreneur details step-by-step how small businesses can engrain transparency in their organization. The company’s founders must commit to a set of core values and implement them throughout the organization.
Transparency runs from the CEO down through every level of the organization. It’s the only way employees an understand your expectations and how you’ll measure success. Scalable values help develop talent within your company. Establish clear channels and methods to interact with individuals across the entire organization. Think of it as the table stakes in today’s competitive environment.
David Stack has served as chief financial officer for several startups and helped install an understanding of transparency and how that plays a role in the company’s internal and external reporting. Does everyone within your organization understand how the business is performing, which metrics are important and how you compare to your competition? Sharing this key information on a regular basis is the best way to educate your team.
You can follow David Stack on Twitter, and read more at the link below: