Reference no: EM133212379
Imagine you are the Vice President of Marketing for a non-profit financial services firm in New York City. The organization services youth and families living in poverty, offering a wide variety of services to help them overcome financial challenges, to navigate the social services, and to prepare to enter the workforce. Your service is considered reliable, invaluable, and trustworthy; always striving to improve community. Many of your clients rely on your services because the local governmental agencies cannot financially support their needs.
To administer service, your firm collects and captures a lot of client personal, demographic, behavioristic, and financial data. All clients must acknowledge an "intent to collect and analyze data" disclosure, giving permission for the data to be shared internal and external to the organization, in an anonymous format.
A mortgage company makes contact with your marketing team to propose a partnership, and the contract stipulates that the mortgage company will obtain permissions for access to the client data to offer various financial products through their subsidiary financial planning, tax services, debt consolidation, life, healthcare, and vehicle insurance companies to build a broader client base.
The Mortgage company cannot use anonymous data, and must have full access to all client personal, demographic, behavioristic, and financial data. The partnership will not force your clients into making financial decisions and obligations. The Mortgage company will only offer your clients optional products that can help to enhance their lifestyle. The Mortgage company also reserves the right to sell your clients' data.
As part of the partnership, the Mortgage company will invest $10 million dollars to open more locations throughout the city. Your firm is extremely underfunded, and with the investment, your firm can broaden its client base, hire more grant writers, and apply for more funding through local, state, and federal agencies.
After researching the topic of big data in relation to leadership decision making, answer the following leadership decision-making questions:
- Will you accept the partnership offer? Why? Why not? Debate the ethical principles and attributes of the partnership terms.
- Develop a position statement on the use of your firm's Big Data by the Mortgage Company to use as they wish. Be sure to use facts from your research.
- What is the value of the big data to the firm if individual client information cannot be shared and used for revenue generation?
- Renegotiate terms of the partnership proposal pertaining to the value of the Big Data versus individual client data n the partnership deal.
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