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Essay On Confidential Information

704 Words3 Pages

The Business Dictionary website defines Confidential Information as, “Privileged communication shared with only a few people for furthering certain purposes, such as with an attorney for a legal matter, or with a doctor for treatment of a disease.” The two components of the essay topic, Confidential & Information, are individually defined by the Oxford online dictionary; Confidential – “Intended to be kept secret” – & Information – “Facts provided or learned about something or someone.” In my career as an accountant, it is vital to understand the meaning in both business and non-business, as there are many details privy to specific people. I am confident this fits into Lewis’s typology of definitions with a purpose. The flip side of the coin …show more content…

One of many reasons is to protect the company from information leaking to the competitors and if that were to happen, the competitors can easily take away market share/profit from the company; worst case scenario wipe out the company. Another reason is employees were to find out the pay of each employee, it will result in an unhealthy work environment, or employees may choose to quit. Clients exposed to the information can gain bargaining power of dictating how much they’re willing to pay if they’ve been unreasonably charged in the past. Also, if the intent is to keep the confidential information only to the president and not share with vital management, it may stunt growth and remove opportunities/ideas that some management may be able to provide if they could contribute. Therefore, most companies, as mine as well, the confidential information is built with rules of who can be provided with how much information, and where to draw the line when certain questions are asked; many a times I’ve been asked sales numbers of the company by curious salespersons and my response every time is apologetic that I cannot share that information and to seek to their

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