Ironically, I think that many people chose to leave employment in companies to become entrepreneurs or owners of their own businesses because they don't want someone looking over their shoulder.
The reality is that we are into an era when "everyone" can look over your shoulder.
As you say, being open and accountable is very difficult. As businesses, we have been trained to keep our cards close to your chest and that there was a strict separation between "social" and business.
We now find ourselves in a situation where business IS social and as much as we try to delegate social media to the marketing dept. or outsource to a "listening" company, once the foot is in the door, it's not long before all stakeholders in the company walk right in, sit down on the chesterfield, grabb a coffee and ask, "so, what's new?"
Thanks for this morning's mind nutrition ;-)