When we speak of “transparency,” we mean much more than the
standard business definition.
Companies can’t innovate, respond to changing stakeholder needs, or function efficiently unless people have access to relevant, timely, and valid information. It’s thus the leader’s job to create systems and norms that lead to a culture of candor.
Also, watch this TED Talk of Margaret Heffernan called “Why it’s time to forget the pecking order at work” if you want to know more about what drives high-functioning teams.
Recommended read:
http://firstround.com/review/radical-candor-the-surprising-secret-to-being-a-good-boss/
https://hbr.org/2009/06/a-culture-of-candor


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