Cja 1404 Ethics And Social Responsibility Essay

PHIL 1404 Unit 1 Written Assignment

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University of the People
PHIL 1404: Ethics and Social Responsibility
Instructor Dan Johnson
June 14, 2023

Introduction
A company establishes a social contract with society (that permits and facilitates a firm’s existence), allowing it to operate and conduct business (Byars & Stanberry, 2018). In exchange for this permission, the company is obligated to act in the best interests of society as a whole, not just its shareholders (Byars & Stanberry, 2018). This means that, according to the principles of the social contract, a company should contribute to the betterment of the community that enables its existence, benefiting both society and itself. This is especially important when focusing

If the executives sold their stock based on non-public information about the breach, it may be legal under insider trading rules if they did not directly trade on that specific information. However, it can still be seen as unethical since it could be perceived as taking advantage of the situation for personal financial gain while leaving customers and shareholders vulnerable. While providing these services is a positive step towards rectifying the breach's impact, it can be viewed as merely meeting legal requirements or appeasing customers rather than genuinely addressing the harm

How do you think this breach will affect Equifax’s position relative to those of its competitors? How might it affect the future success of the company?
I think that the Equifax breach had significant implications for the company's position relative to its competitors and its future success. This is due to the loss of trust and reputation due to the poor handling of the whole breach situation. A reputation for treating customers and employees fairly and for engaging in business honestly are few of the many factors that contribute to a company long term success (Byars & Stanberry, 2018). Equifax has created a bad reputation and loss of trust which is detrimental to the future success of the company.

Was it sufficient for Equifax to offer online privacy protection to those whose personal information was hacked? What else might it have