Achieving Transparency While Avoiding the Danger Zone
Transparency is unmatched in its capacity to build trust.
Making it happen on a daily basis, however, is anything but easy. At our 2023 Transparency Summit, The Center for Food Integrity introduced our Transparency Assessment, a tool that any organization can use to benchmark and track stakeholder perceptions of transparency.
The Transparency Assessment is based on seven principles identified through research as the keys to building trust and they include motivation, disclosure, keyholder participation and more. In the past year, CFI has guided companies through the Transparency Assessment to gain the insight needed to evaluate where they stand and the steps needed to increase transparency. Some organizations have begun to use the learnings from the assessment to develop strategies to increase transparency.
In this process, we are helping to move participants out of their comfort zone.
For most organizations, their default position is to debate, delay, defer and defend. On the opposite end of the spectrum is another pitfall that we call the danger zone. This zone is defined by reckless oversharing, which can lead to disastrous results such as risking intellectual property, litigation and ultimately, a loss of trust.
Fear of entering the danger zone has prevented many organizations from taking the first steps to build transparency, causing them to forfeit the benefits and competitive advantages that transparency affords.
But safeguards can help an organization avoid reckless oversharing. The key is to understand that not everyone needs to know everything.
The first step to effective, trust-building transparency is to identify the stakeholders who are important to your business and who have an interest in who you are and what you do. These groups may include customers, employees, partners, investors and the communities where you operate. Each group has unique needs and expectations when it comes to transparency.
By thoughtfully considering these differences, organizations can tailor their transparency efforts to address specific concerns and interests and create a more meaningful dialogue. This targeted approach ensures that transparency efforts are impactful, reinforcing the organization’s commitment to integrity and open communication. Strategic stakeholder identification also empowers those within your company or organization to respond to requests with the confidence that they are sharing appropriately and not putting their job or employer at risk.
CFI’s Transparency Assessment is more than a tool for evaluating current practices; it’s a strategic framework for building trust, aligning with core values and driving growth. By embracing transparency, organizations can forge stronger connections with stakeholders and secure a competitive edge.
More about how organizations are using the Transparency Assessment to develop strategies will be presented at CFI’s 2024 Transparency Summit, Oct. 22-24 in Chicago. Please join us and discover how to put transparency into action.
About The Author
Mickie French is an accomplished global expert in marketing and communications with a focus on helping companies develop and activate a more purpose-driven strategy. Her depth of experience across the food value chain, from agriculture to ingredients and CPG, has made her a trusted strategy and innovation partner. She is particularly passionate about bringing together multiple stakeholders to drive significant impact on global sustainability issues.