Transparency in business operations means:

Transparency in business operations refers to the practice of operating openly and fostering communication with all stakeholders, including employees, customers, investors, and the community at large. This concept emphasizes the importance of accessible information that allows stakeholders to understand the business's processes, decisions, and performance.

By engaging in transparent practices, organizations build trust and credibility, which can lead to stronger relationships and increased loyalty among stakeholders. Transparency can also aid in accountability, as it enables stakeholders to scrutinize decisions and actions taken by the business, thereby enhancing ethical practices and governance.

In contrast, keeping financial statements private, avoiding the disclosure of sensitive information, or only sharing information with top management would limit the openness of the organization and hinder effective communication. These practices could diminish trust and lead to misunderstandings or skepticism among stakeholders regarding the organization’s integrity and operational processes.