Importance of Business Ethics and Analysis of Equifax's Data Breaches

Business ethics

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 2............................................................................................................................................3
PART 1............................................................................................................................................3
Importance of business ethics at an academic level and also its managerial implications.........3
Analysis of different sustainability and responsibility concepts in context the given
organisation.................................................................................................................................3
PART 2............................................................................................................................................9
Evaluation of the different ethical approaches, such as the normative and descriptive business
ethics. .........................................................................................................................................9
PART 3..........................................................................................................................................11
Analyse stakeholder perspectives on the business behaviour...................................................11
CONCLUSION.............................................................................................................................12
REFERENCES .............................................................................................................................13

INTRODUCTION
Business ethics is sets of standards, principles and values which is important to manage
with in the organisation in order to be sustainable in the market environment and valuable in
customers prospective. This helps to manage the respective and professional behaviour of the
Human resources with in the organisation, which is important to maintain the productive and
ethical behaviour with in the organisation (Purwanto, R.M., and et. al., 2019) This involves the
sets of organisation rules through which company can prevent the any type of scandals and
inappropriate approach. Equifax’s Is consumers reporting agency company, headquarters in
united states, Atlanta. This is one of the largest credit reporting company. In this report
Equifax’s Data Breaches is going to be analyse and evaluate. Such as the stockholders
prospective on business behaviour, importance of business ethics, theory's of normative and
descriptive business ethics is going to be evaluate. Along with the analysis of sustainability and
social responsibility approaches in context to the selected organisation.
TASK 2
PART 1
Importance of business ethics at an academic level and also its managerial implications
Business ethics- This is the most important for business organisation which should be
manage as an essential part of the organisation. This helps to enhances the law by outlining
acceptable behaviour beyond government control. Organisation implement business ethics to
promote integrity among the workers and to achieve stakeholders trust from their important
stakeholder, such as the customers and investors (Crane, A., and et. al., 2019).
Analysis of different sustainability and responsibility concepts in context the given organisation
Organisation information-
Equifax’s is the American multinational consumer credit reporting company, which
collect aggregate information on over 800 million individual consumers. In September 2017,
Equifax’s disclosed that due to some issues and failure in patch one of internet servers against a
pervasive software flaw- in web component led to the breach, which exposed personal data on
147 million Americans. This information was disclosed after the three months of breach.

Corporate Governance- This is the collections of the rules, regulations, process or law,
through which business organisation are operated or managed. This involves the internal and
external factors which effects the interests of a company stakeholders. There are the various code
of conducts which should be followed by the organisation to effectively create the farmworker
for corporate governance, which best aligns business conducts with objectives. Equifax’s
Vision is to be the best trusted global organisation. In the sector of the data, advance analytics
and technology that creates innovative solution. Under this vision according to the UK corporate
code of the conduct along with positive vision organisation should follow and implement legal
regulatory framework, with proper management, transparency, accountability, polices and
procedures. But the current Equifax’s Data Breaches case is showing that organisation corporate
governance was not good due to which this scandal happened with company (Adeleye, I., and
et. al., 2020).
UK Corporate Governance Code- This is the type of government corporate code,
which is also known as the combine Code. This involves the sets of standards, related to the
good practice for companies on board composition and development. This basically involving
the sets of rules in prospective of remuneration, shareholders relations, accountability and
audited. This Equifax’s data breach case is dedicating the inappropriate implementation of this
UKCG code due to which organisation had faced this problems.