BUS 206 Project 2

docx

School

Southern New Hampshire University *

*We aren’t endorsed by this school

Course

206-R1080

Subject

Business

Date

Jun 11, 2024

Type

docx

Pages

Uploaded by PrivateBravery103091

Angela Bishop BUS 206 – Project 2 Leah Westerman 06/09/2024 Matters of Law and Matters of Ethics in Business The definition of ethics is a system of moral principles and the rules of conduct recognized in respect to a particular class of human actions or a particular group, culture, etc. Ethics compares to law by the principles and regulations established in a community by some authority and applicable to its people, whether in the form of legislation or of custom and policies recognized and enforced by judicial decision. People’s ethics may decide their choices whether the options chosen are either good or bad with the laws. Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public. By practicing corporate social responsibility, also called corporate citizenship, companies are aware of how they impact aspects of society, including economic, social, and environmental. Engaging in CSR means a company operates in ways that enhance society and the environment instead of contributing negatively to them. Through corporate social responsibility programs, philanthropy, and volunteer efforts, businesses can benefit society while boosting their brands. A socially responsible company is accountable to itself and its shareholders. CSR is commonly a strategy employed by large corporations. The more visible and successful a corporation is, the more responsibility it must set standards of ethical behavior for its peers, competition, and

industry. Small and midsize businesses also create social responsibility programs, although their initiatives are rarely as well-publicized as those of larger corporations. The ethical issues are that Steve needed to let the consumers that were affected by the breach know because of their personal information was leaked. When a breach in a company happens the IT person in charge of the software used must tell the owner of the company and the people affected by the breach or the company can get sued by the consumers and the company would lose business. My recommendation for the course of action is to have Steve suspended without pay or terminate him. The company would be writing a letter to all the consumers affected by the breach to let them know about their information got leaked out, and to hire another person for the IT department so that a breach hopefully will not happen again. Have more firewalls in the software used so that all the company’s information is secure and private. The consumers affected would be in a class action lawsuit. The business managers have the right to decide to fire and or hire particular employees. Their decisions are guided by legal rules that have both ethical foundations and implications for needed legal reform. The advances in technology have had a significant impact on the business world, both legally and ethically. The following are some of the legal and ethical implications of technology advances in today's business world. Legal Implications: Intellectual Property: One legal implication of technology advancements in today’s business world is the issue of intellectual property. Intellectual property refers to the

ownership of ideas and inventions. Companies must ensure that their inventions are protected under patent law to prevent competitors from stealing their ideas. Privacy: Another legal implication of technology advancements is privacy. Companies must ensure that they are not violating their customers' privacy rights. For example, collecting and using customer data without their consent could result in legal action against a company. Cybersecurity: Companies must take adequate measures to protect their customer's data from cyber threats. The rise of cybercrime is a growing concern for businesses. Ethical Implications: Fairness: The use of technology in the business world raises ethical questions about fairness. For example, using algorithms to hire employees may inadvertently discriminate against certain groups of people. Transparency: The use of technology in the business world raises ethical questions about transparency. Companies must be transparent about how they collect and use customer data. Responsibility: Companies must take responsibility for the impact their technology has on society. For example, if a company's technology results in job losses, the company has a responsibility to help retrain or transition those employees. Overall, the companies must take measures to ensure that their technology is used in an ethical and legal manner to avoid negative consequences.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Resources: ETHICS Definition & Meaning | Dictionary.com What Is CSR? Corporate Social Responsibility Explained (investopedia.com)

BUS 206 Project 2

Related Documents