Ethics Phase 2(IP)

Running Head : Business Privacy

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Business privacy has become an issue of concern in our today 's dynamic and challenging business environment . This has eventually called for advanced privacy to acquire comparative advantage . Business privacy is a strategy developed to safeguard business values , strategies , documentary system and management techniques . This issue of privacy prevents security breaches and consumer lawsuits . Privacy is now taking care of unexpected fines , events of credit card frauds , insider trading problems , crackdown of regulations , bad business reputation and consumer

br lawsuits . Privacy brings about efficiency in customer and employees management and also prevents data loss or sharing . To embrace privacy employees and management staff should be trained on the repercussions of privacy breach , importance of data security and the need to share confidential and insider information . Generally , business privacy will ensure quality management , regulatory compliance , risk management and good corporate governance (Robert , 2003

The major challenges facing the privacy issue is defining the fundamental level of privacy , information use , the necessary security and finally confidentiality concept . The strategies on privacy are challenging when it comes to considering some specific aspects of business . These aspects include ensuring the diversity of stakeholders agreeing on contradictory viewpoints , preventing assortment of hardware and software , affecting the various organizational structures , ensuring diversity of data structures and then coming up with a range of communication models . Many businesses are entirely facing the major challenge of implementing privacy to contain all the above aspects in a satisfactory manner . In the attempt of ensuring privacy , breaching occurs within the company which later spreads out , wiping out the enterprises privacy . Outside the setup , competitors are ready and alert to absorb any diffusing strategies and apply them immediately and effectively for their own good , pining down their opponents and acquiring the largest market share possible (Mathew , 2005

Reference

Mathew Hinton (2005 ) Introducing Information Management : the Business Approach . London , Routledge

Robert Galliers (2003 ) Strategic Information Management : Challenges and Strategies in Managing Information and Business Privacy . New York Blackwell Publishers

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