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Business Ethics

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Business Ethics ­MGT610
VU
LESSON 44
Going online and taking advantage of what the Internet has to offer may require that you
disclose personal information. Whether you're new to the Net, or consider yourself savvy in the
ways of the Web, you may have concerns about how personal information is collected, what
choices you have about how it is used and shared, and under what circumstances you can
access it.
Many of the creators of Consumer Privacy Guide believe that to assure the privacy of their
personal information, consumers must have the protection provided by basic law. Law would
provide Internet users with basic expectations about Web sites' responsibilities for protecting
the privacy of the personal information they collect. We continue to work toward this goal. But
whether information in the online world is protected by law or not, consumers need information
and tools to take charge of their privacy.
Privacy Guide gives you useful tips for protecting your privacy and helps you take control of
the way your information is used. It attempts to answer your questions, in consumer friendly,
practical terms, about what you can do to assure that information that you choose to share with
companies is used in ways you believe are appropriate. This site will explain terms used on the
Internet that may be unfamiliar to you, provide "how-to" guides to understanding privacy
resources and technologies, and point you toward other helpful resources.
Consumer Privacy
Advances in technology have created the potential for serious harm to consumers' privacy.
Financial institutions, credit bureaus, etc., maintain detailed files on consumers, including
information about their economic activity and personal information (such as marriage,
employment, addresses, and other information). Though these files are used as an important
deciding factor in granting loans, credit cards, and jobs, a recent study found errors in 43% of
credit reports.
The individual's obvious right to privacy, both physical and psychological, is important.
Psychological privacy is privacy with respect to a person's inner life. This includes the
person's thoughts and plans, personal beliefs and values, feelings, and wants. These inner
aspects of a person are so intimately connected with the person that to invade them is almost an
invasion of the very person. Physical privacy is privacy with respect to a person's physical
activities.
It must be balanced, however, with the rights and needs of others. Banks must know something
about the credit history of those to whom they are lending money, for example. Since
consumers benefit from the banking system, they also benefit from their right to privacy being
balanced against the banks' right to know their personal information.
To balance these two factors, the following factors are crucial:
1. Relevance - Databases should contain only information directly relevant to the purpose
for which it is collected.
2. Informing - Consumers should be informed that information is being collected and told
what the purpose of its collection is.
3. Consent - Businesses should collect information only if consumers consent to provide
it.
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Business Ethics ­MGT610
VU
4. Accuracy - Agencies must ensure that the information is up to date and otherwise
accurate, quickly correcting any errors.
5. Purpose - The purpose for which the information is collected must be legitimate,
resulting in benefits generally enjoyed by those who are having the information
gathered from them.
6. Recipients and Security - Agencies must ensure that the information is secure and not
available to unintended users or sold to others without the individual's consent.
Privacy is the number one concern of Internet users; it is also the top reason why non-users still
avoid the Internet. Survey after survey indicates mounting concern. While privacy faces threats
from both private and government intrusions, the existing motley patchwork of privacy laws
and practices fails to provide comprehensive protection. Instead, it causes confusion that fuels a
sense of distrust and skepticism, limiting realization of the Internet's potential.
A unique combination of tools -- legal, technical, and self-regulatory -- is being designed to
address the privacy concerns of Internet users. Top-priority objectives include setting limits on
government access to personal information, ensuring that new information and communication
technologies are designed in ways that protect rather than diminish privacy, and developing
appropriate federal legislation to set baseline standards for consumer privacy. This guide is
intended to educate Internet users about online privacy, and offer practical suggestions and
policy recommendations.
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Table of Contents:
  1. INTRODUCTION:Business Issues
  2. INTRODUCTION (CONTD.)
  3. THEORY OF ETHICAL RELATIVISM
  4. MORAL DEVELOPMENTS AND MORAL REASONING
  5. MORAL REASONING:Arguments For and Against Business Ethics
  6. MORAL RESPONSIBILITY AND BLAME
  7. UTILITARIANISM:Utilitarianism: Weighing Social Costs and Benefits
  8. UTILITARIANISM (CONTD.):rule utilitarianism, Rights and Duties
  9. UNIVERSALIZABILITY & REVERSIBILITY:Justice and Fairness
  10. EGALITARIANS’ VIEW
  11. JOHN RAWLS' THEORY OF JUSTICE:The Ethics of Care
  12. THE ETHICS OF CARE:Integrating Utility, Rights, Justice, and Caring
  13. THE ETHICS OF CARE (CONTD.):Morality in International Contexts
  14. MORALITY IN INTERNATIONAL CONTEXTS:Free Markets and Rights: John Locke
  15. FREE MARKET & PLANNED ECONOMY:FREE TRADE THEORIES
  16. LAW OF NATURE:Theory of Absolute Advantage, Comparative Advantage
  17. FREE MARKETS AND UTILITY: ADAM SMITH:Free Trade and Utility: David Ricardo
  18. RICARDO & GLOBALIZATION:Ricardo’s Assumptions, Conclusion
  19. FREE MARKET ECONOMY:Mixed Economy, Bottom Line for Business
  20. COMPETITION AND THE MARKET:Perfect Competition
  21. PERFECT COMPETITION
  22. MONOPOLY COMPETITION:Oligopolistic Competition
  23. OLIGOPOLISTIC COMPETITION:Crowded and Mature Market
  24. OLIGOPOLIES AND PUBLIC POLICY:Ethic & Environment, Ozone depletion
  25. WORLDWATCH FIGURES:Population Year, Agriculture, Food and Land Use
  26. FORESTS AND BIODIVERSITY:The Ethics of Pollution Control
  27. THE ETHICS OF POLLUTION CONTROL:Toxic Chemicals in Teflon
  28. THE ETHICS OF POLLUTION CONTROL
  29. THE ETHICS OF POLLUTION CONTROL:Recommendations to Managers
  30. COST AND BENEFITS:Basis of social audit, Objectives of social audit
  31. COST AND BENEFITS:The Ethics of Conserving Depletable Resources
  32. COST AND BENEFITS:The Club of Rome
  33. THE ETHICS OF CONSUMER PRODUCTION AND MARKETING:DSA Comments
  34. THE ETHICS OF CONSUMER PRODUCTION AND MARKETING:Should Consumers Bear More Responsibility?
  35. THE CONTRACT VIEW OF BUSINESS' DUTIES TO CONSUMERS
  36. THE CONTRACT VIEW OF BUSINESS' DUTIES TO CONSUMERS:The Due Care Theory
  37. THE SOCIAL COSTS VIEW OF THE MANUFACTURER’S DUTIES
  38. ADVERTISING ETHICS:The Benefits of Advertising, The harm done by advertising
  39. ADVERTISING ETHICS:Basic Principles, Evidence, Remedies, Puffery
  40. ADVERTISING IN TODAY’S SOCIETY:Psychological tricks
  41. ADVERTISING IN TODAY’S SOCIETY:Criticism of Galbraith's Work
  42. ADVERTISING IN TODAY’S SOCIETY:Medal of Freedom
  43. ADVERTISING IN TODAY’S SOCIETY:GENERAL RULES, Substantiation
  44. ADVERTISING IN TODAY’S SOCIETY:Consumer Privacy, Accuracy
  45. THE ETHICS OF JOB DISCRIMINATION:Job Discrimination: Its Nature