Equifax's Bribery Charges: A Case Study on Business Ethics and Corporate Social Responsibility

PROJECT
(Business Ethics)

Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
Overview of case and the ethical issue...................................................................................3
The concept of Corporate Social Responsibility....................................................................3
PART 2............................................................................................................................................5
Approaches to Corporate Social Responsibility.....................................................................5
PART 3............................................................................................................................................8
Perspectives of stakeholders on the behaviour of business....................................................8
CONCLUSION................................................................................................................................9
RECOMMENDATIONS.................................................................................................................9
REEFRENCES..............................................................................................................................10

INTRODUCTION
Business ethics seems to be the analysis of correct management strategies and procedures on
highly contentious issues like corporate governance, inequality within employees and CSR. The
legislation also directs corporate ethics and at certain occasions business ethics offer a simple
rule that companies may attempt to obey and obtain market acceptance (Crane, Glozer and
Spence, 2019). Such come from regulatory structures, governmental and human announcements.
These ideals, rules, ethics and processes are really the principles which govern an organization
and aid to establish and sustain better connections with shareholders. To better understand the
importance of business ethics case base on Equifax’s Bribery charges is selected.
This report addressed the contrasting principles and the definition of CSR in relation to
the selected case. This also addresses corporate social management strategies from a concise and
substantive theory of company ethics. Finally, the report addresses the study of stakeholders
'viewpoints on market activity.
PART 1
Overview of case and the ethical issue.
Equifax is one third largest mortgage Credit Company of US. In September 2017, the firm's
network was violated and more than 140 million Individuals personal details have been exposed
through publicly. Customers such as emails, names, social safety figures, birth days,
identification numbers, etc. were breached. The largest omission was the data of around 209,000
clients and credit cards. This breach was found to be particularly noticeable to the legal
authorities of US who then further investigate the situation. There have been numerous
controversies throughout the past however Equifax this basically involves personal information
of customer which is consider to be the biggest scandal till date. This event reduced the
credibility and prestige of the company all over the US market.
The concept of Corporate Social Responsibility
CSR is called the auto-regulating business model that enables a company to have been
accountable publicly to the community, stakeholders as well as to entire workforce. Through
utilizing CSR businesses should be mindful of their effect on cultural, geological, financial and
economic dimensions (Hartman, DesJardins and MacDonald, 2014). Effective strategic strategy
offers a structure to accomplish operational priorities and strategies. Laws, regulations,