We have been given power to contribute to the marketplace of ideas. Are you using it wisely? The phrase “truth will out” can be dated back to John Milton’s Aeropagitica written in 1644. He wrote,
Though all the winds of doctrine were let loose to play upon the earth, so Truth be in the field, we do injuriously by licensing and prohibiting to misdoubt her strength. Let her and Falsehood grapple; who ever knew Truth put to the worse, in a free and open encounter.
In other words, information should be available to all, both that are true and false. When you have a marketplace of ideas then the truth will survive. The truth will surface. Information has become democratized. There have been several instances where companies have not told the truth. We can forgive those who don’t know but what about the companies that do know they are lying? Companies like BP that underestimated the amount of oil leaking into the Gulf. In a New York Times article, BP downplayed the catastrophic results to a measly 5,000 barrels a day, which turned out to be four to five times that amount…Opps. The press conference and immediate press release follow these events. It’s not the mistake that matters but what you do about it. For some it’s a little too late. They have been “Black Listed”.
The Least Transparent Companies:
- Abercrombie & Fitch
- Scripps Networks Interactive
- Weight Watchers
- Central European Media Enterprises
The Most Transparent Companies:
This isn’t a corporate Red Scare but recognizing those who use transparency. We should give thanks to those companies that allow the public to know their business practices, business decisions, and factors that go into making those business decisions. Let us remember, “truth is both arms and armor”. Transparency can increase brand identity and create brand personality. It can even increase return of shareholder value.
Growing up in this post-media generation, we expect honesty and directness. And we respect those who speak with truth and bluntness. Companies can’t spin their way out of trouble, especially not today with the Google monster growing stronger and stronger. It will eventually get you and when it does, POOF. There goes years of trust and brand loyalty. There is a barcode for each story stored in today’s digital library, the internet. That barcode is a link. A permalink, permanently available for all of us to see. Truth is just one Google search away.
Jeff Jarvis wrote in What Would Google Do?,
“Companies shouldn’t be democracies. But neither should they be dictatorships. They should be ––but too rarely are ––meritocracies. Your challenge is to get good ideas to surface and survive from within and without and to enable customers and employees to improve your ideas and products.
Transparency is cool. Transparency is smart. What is your favorite transparent company?
- Transparency (xconomy.com)
- The inevitability of transparency (elearnspace.org)
- The age of transparency (twingly.com)
- The myth of corporate transparency (economist.com)