Importance of Business Ethics in Corporate Scandals

Biggest corporate scandal

Table of Contents
INTRODUCTION...........................................................................................................................3
Stakeholder perspective on business behaviour..........................................................................3
Importance of business ethics at academic as well as managerial implication...........................4
Business ethics theories...............................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Corporate scandals or frauds affect the different aspects of corporate society. There are several
researchers conducted for analysing the causes of cooperate fraud. Business world are a new
phenomenon and they have larger scope and fallout from and Ron and Arthur Andersen. the
present Repot is based upon corporate scandals of alphabet and Facebook.
Stakeholder perspective on business behaviour
Facebook is a very known social media company and corporate scandal affected its
reputation. There is need for a company do have good operations and finances if it has to sustain
in market for long period. Executives and top management team has to take decisions regarding
the functioning in order to have effective profits and revenues. For a company like Facebook, it
is very important to keep privacy of users as its main priority. Facebook is the most popular and
well known social media website which is used by numerous people so that they can connect
across the individuals of world. The Cambridge analytica scandal was a major corporate scandals
that took place in the business world. It was controversial scenario in which Facebook which was
called as Facebook Cambridge analytica data scandal huge scam. A political consulting firm
naming Cambridge analytica was seem to tie up with Facebook for misusing personal data of
several Facebook users. Facebook was not allowed to provide permission regarding sharing the
personal data of their users. For Cambridge analytica the company was seen to provide data for
this company and they have used the information in order to attract people for their use. There
was an app naming this is your digital life word developed for collecting data of people. There
was a political campaign for Donald Trump that was supported by Cambridge analytica. This
app collected data of several users. Mark Zuckerberg, the owner of Facebook accepted the
mistake and apologised two people for not preventing the misuse of private data of users. This
scandal has raised privacy issues and these have the capacity to take the entire organisation
down. This affected reputation of the company in very negative way. Several campaigns like
hash tag delete Facebook were taken. Due to this scandal, there was loss of 100 billion or 18%
decline in share off Facebook. The time you speak has an effect on the work environment and
how people see you. To ensure respect for peers and third partners, as well as safety and comfort
when on the job, help ensure your fashion style adheres to the company's dress code. There will
be occasions where you are faced with an ethical challenge at work, and this sort of situation