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https://www.buzzfeed.com/charliewarzel/why-facebooks-data-scandal-just-wont-quit?utm_term=.lo2yNWaQe#.tqBJ4pLkERead the article then1- answer question 5 at least 10 points with explanationHow are the competing firms likely to respond to our company’s actions? 2- explain the points that is answers questions 3 and 43-free plagiarism
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1. What is the precise problem facing our company?
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•
2.
The reputation of Facebook has been compromised due to the breach of private data
being misused
Damaged image
What underlying industry factor, company factors and/or issues creating the problem?
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•
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•
Breach of personal data without the consent of the user
Cambridge analytics
Loss of investments i.e. #deleteFB
Violation of users/customers Trust
Violation of both domestic and international policies
3.
How will all companies in the industry loss or gain from the problem as they are currently
positioned?
Losses:
• Decreased user activity
• Loss of revenue
• Potential impact to FB subsidiaries (Whats App, IG)
• Decreased brand image
• Decrease in stock (decreased stock price)
• Possible ban of usage in foreign countries
• Penalties imposed both domestically and internationally
• Possible lawsuits
Gaines
• Increase competitors usage (snapchat)
• Increase in competitor revenue from investments
• Competitors brand image can increase- more brand recognition
• Opportunity to re-image (both industry and individually)
• Breakin Facebook’s Monopoly
4.
What specific actions should our company take to respond to the problem and why?
• Spend more money to re-brand their image
• Implement a policy or stricter policy in regards to protecting personal data
• Implement security clearance level to each employee
• Implement a security feature that ensures user protection ( the symbol or feature
that knows your data is protected)
• Restructure company ethics and corporate social responsibility
5.
How are the competing firms likely to respond to our company’s actions?
3.
How will all companies in the industry loss or gain from the problem as they are currently
positioned?
Losses:
• Decreased user activity
• Loss of revenue
• Potential impact to FB subsidiaries (Whats App, IG)
• Decreased brand image
• Decrease in stock (decreased stock price)
• Possible ban of usage in foreign countries
• Penalties imposed both domestically and internationally
• Possible lawsuits
Gaines
• Increase competitors usage (snapchat)
• Increase in competitor revenue from investments
• Competitors brand image can increase- more brand recognition
• Opportunity to re-image (both industry and individually)
• Breakin Facebook’s Monopoly
4.
What specific actions should our company take to respond to the problem and why?
• Spend more money to re-brand their image
• Implement a policy or stricter policy in regards to protecting personal data
• Implement security clearance level to each employee
• Implement a security feature that ensures user protection ( the symbol or feature
that knows your data is protected)
• Restructure company ethics and corporate social responsibility
5.
How are the competing firms likely to respond to our company’s actions?
…
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