Digital technology and the rise of big data has spurred ongoing questions about maintaining integrity – in business and marketing. Business leaders are experiencing a new paradigm where everyone must take into consideration important issues, such as privacy, tracking and how we are utilising data for personal use and profit.
Despite the global proliferation of technology, technological literacy among consumers is deteriorating. As a result, there’s an increased need to implement ethical protections that ensure the privacy of consumers. With the evolution of big data and digital marketing, it’s more important than ever to uphold values that align companies with ethical standards.
Ethics encompasses how people react when faced with moral decisions. Transparency, as well as how companies use data and influence their customers, are key components of the standards that promote ethical corporate behaviour. For enterprises, there’s a need for clearly defined ethical policies that align with company values and behaviours and empower staff members to make consistent and exemplary moral decisions.
As is often the case, technology has preceded ahead of ethics. In some instances, this has resulted in marketing initiatives that place the pursuit of profit over consumer interests. Fortunately, industry leaders are hastily recognising the need to protect consumers, …