What do you think about the practice of “open-book management”

Question 1:  What do you think about the practice of “open-book management”? What would you think about it if you were running your own company?  

 Question 2:  Have you ever made or seen mistakes due to people not speaking a common language well? How do you, or will you, deal with others who do not speak the same language as you? Be sure to consider suggestions made by Nancy J Adler, an international management consultant.