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  3. Businesses Thrive on Transparency Stakeholders scrutinize business activity. Corporate transparency is changing the face

Businesses Thrive on Transparency Stakeholders scrutinize business activity. Corporate transparency is changing the face

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问题                     Businesses Thrive on Transparency
    Stakeholders scrutinize business activity.
    Corporate transparency is changing the face of business. Consumers are now armed with new tools to uncover information about business firms on matters important to them. Corporations have no choice but to rethink their values and behaviors.
    Several factors drive this trend.
    The success of market economies and globalization; As market capitalism grows globally, the competitive success of firms and nations depends on genuine performance.
    The rise of knowledge work and business webs that depend on openness and candor regarding business and production matters, as opposed to firms’ knowledge, which remains in employees ’ brains and resources.
    The spread of communications technology, especially the Internet, which challenges traditional business hierarchies by making information pervasive, immediate, and impossible to control.
    Demographies and the rise of the Net Generation: Young people today are more aware of the world around them and have a stronger sense of civil values than previous generations, mostly through technologies like the Internet.
    The rising global civil foundation; It’s becoming more difficult to get away with bad behavior.
    The corporate world is responding by behaving more responsibly; business integrity is on the rise—and not for just legal or ethical reasons. It makes economic sense. Firms that exhibit ethical values, openness, and candor have discovered that they can better compete and profit. Furthermore, firms can’t hide their secrets, thanks to information and communications innovations. Firms, are transparent whether they want to be or not, and many are opting to make themselves transparent to better serve their shareholders and the public.
    The international banana company Chiquita is a firm that has benefited from this transparency. Chiquita saved itself from bankruptcy by becoming a transparent organization with more open, honest, and straightforward communications with all its stakeholders. Furthermore, a dramatic change in the company’ s image occurred: Chiquita has won several awards and is widely cited as a leader in corporate responsibility.
    Transparency has resulted in a network of stakeholders who scrutinize firms, with or without their knowledge. Firms that don’ t pay attention to this network open themselves to attack and can be devastated or destroyed. Those that stay aware of constituent and community values and behave accordingly can develop sustainable business models.
    Other benefits of transparency include more successful business partnerships and improved employee trust, resulting in lower costs, improved quality, better innovation, and loyalty. Transparency will also bring about a new breed of executive, one who has integrity, who leads by example, and who has the courage to do the right thing. Transparency demands that the corporation change, from paternalistic, inward-looking, and self-indulgent to engaged, stakeholder focused , responsive, and responsible.
What is becoming popular worldwide?
选项
答案Market capitalism
解析 文中第三段，As market capitalism grows globally…，即随着市场配置体制逐步全球化。
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本试题收录于： A类竞赛（研究生）题库大学生英语竞赛（NECCS）分类
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