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New figures reveal split on corporate transparency

Marketing and administration assistant

Bethany Simpson

Published 24 October 2017 More about Bethany

With many organisations defending themselves over malpractice, lack of competent governance and poor protocol, Verita launched a poll to investigate the public’s perspective. The figures, received from nearly 2,000 respondents in a Twitter poll earlier this month, revealed a split on corporate transparency.

According to the poll, just under half (48%) of respondents think their organisation is open and transparent when things go wrong. Those who strongly agree and feel confident in their organisation’s ability to disclose the truth are in the minority group at 19% while 29% of respondents agree. This suggests that protocol and structure, and a positive reporting culture, is in place for many organisations

However, just over half (52%) of those who took part in the poll responded negatively, with 24% disagreeing and 28% strongly disagreeing that their organisations are open and transparent with failure.

Ed Marsden, our managing director, commented: ‘from experience, it is essential for any public or private organisation to be open. The ability to discuss reasons for failure provides a space for constant learning , support and most importantly, improvement. I am disappointed that over half of respondents in this poll disagree with the statement that their company is open; however, the numbers show there is a movement from organisations in the direction of transparency. I am hopeful that this will improve.’

The results show a real disparity in confidence in corporate transparency. It seems many organisations have a lot to learn.

There were 1,910 votes to a Twitter poll conducted by Verita which ran for one week in mid-October. It asked the question ‘Is your organisation open & transparent with affected parties when things go wrong?’ responses were:

  • 19% – strongly agree
  • 29% – agree
  • 24% – disagree
  • 28% – strongly disagree
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