Business ethics consumer privacy in digital marketplace
The purpose of this assignment is to examine the interplay of business ethics, consumer privacy, and the collection and use by business of customer information in a digital marketplace.
Businesses have increasingly focused on understanding the customer, which has led to the collection and sharing of vast amounts of customer information. Some customers welcome the increased convenience and personalization of marketing that these approaches provide, but many customers are concerned about how these practices affect their privacy.
There are currently no federal laws that ban the collecting, sharing, or selling of information regarding the customer, including but not limited to name, address, telephone/cellphone number, birthdate, age, email address, transaction history, purchase history, online search history, location history, and other information that is not protected by law.
Review the prompt below and address the associated questions in 750-1,000 words.
.Many businesses require customers’ personal information to be shared with the business in order to purchase a product or service from the business, for example, name, address, email address, and phone number. Some of this information is also obtained when a credit or debit card is used in a transaction. This information is often shared or sold. Much information that was formerly considered private is now readily accessible by anyone with access to the internet. Some additional issues related to sharing and selling such information include identity theft, robomarketing, geotracking, and cyberstalking.
Pick one ethical dilemma arising from the collection of customer information and one ethical dilemma arising from the sharing or selling of customer information. From an ethical standpoint, how should a business handle a customer’s information?
Discuss whether customers should have the option to provide personal information during a transaction.
The use of various forms of technology in business is ubiquitous. Discuss the potential ethical benefits and drawbacks of the use of technology in business regarding customer information. For example, think about the potential benefit of receiving coupons or notices of sales regarding the type of food a customer purchases because the customer’s food purchases are tracked. In addition, think about the potential danger of businesses or the government knowing what kind of food a person purchases because the business or government is tracking food purchases, then denying or limiting access to health care or health insurance based on the purchase of foods that are considered unhealthy.
From a Christian worldview, discuss the ethical dilemmas regarding businesses’ exploitation of customers’ personal information for financial gain.
Consumer privacy refers to the expected privacy and protection of consumers’ personal information and data often collected by businesses. Breaches of consumer privacy are becoming more common as technologies evolve and lead to legal and political issues between the consumer and business.
Typical consumers care about the privacy of their personal information, so smart businesses implement ethical standards for privacy and are clear with their consumers on what they do with their data, making consumer trust a priority.
Consumer privacy is a growing concern and calls for businesses to increase visibility into use of consumer data. Avoiding consumer privacy issues allows businesses to retain access to this useful data and information while maintaining consumer trust.
By definition, business ethics are the moral principles that act as guidelines for the way a business conducts itself and its transactions. In many ways, the same guidelines that individuals use to conduct themselves in an acceptable way – in personal and professional settings – apply to businesses as well.