Data collection and ethics

Assignment Help Financial Management
Reference no: EM132529438

You work for a tourism board at a top destination within the United States that among other tasks, sends information out to potential visitors, performs direct mailing campaigns, solicits newsletter sign ups, and helps drive economic growth by attracting visitors to the destination. The direct mailing team for your organization accomplishes this through email blasts, mailing flyers, and texting campaigns. The address list the organization has in place is seen as a strategic advantage, as it has extensive information about potential and repeat visitors, and has been compiled from various sources over the years.

The organization has recently developed a mobile application and hopes to leverage mobile devices and tablets to help make obtaining information easier for the visitors, as well as collecting more information on patterns of consumer behavior. Since the mobile application will have access to a great deal of personal information belonging to the users (email address, GPS data, phone number, etc.), it has been suggested this information be automatically uploaded to the direct mailing database, and signing them up for various promotional efforts and communications. It had also been suggested there may be an opportunity for the marketing department to partner with the local theme parks and attractions within the area, sharing the databases from each to form one large database to reach more users.

The idea has been presented to the organization's legal counsel for review, as the IT team is fairly certain the end user agreement for the mobile application states the collected information can be reused and sold as needed. The public relations team has taken a different position and feels there is potential for backlash in social media as well as other public outcries should the data be sold to or shared with other organizations, and questions whether the data should even be stored since there are additional pieces of data being collected that have no purposeful use for the tourism board. They have asked for your input on the matter.

The questions they are presenting you with include:

1. What are the general practices surrounding data collection?

2. How can privacy violations occur?

3. Are there any risks, issues, or problems associated with collecting and storing data that isn't needed now, in the event it may be needed in the future? What information do other organizations collect?

4. The end user agreement says we CAN collect, reuse, and sell data as needed, but does that mean we should? Is there a level of ethical data collection and storage that we should be considering?

Reference no: EM132529438

Questions Cloud

Future based on the principles of finance : Describe (3) ways you will invest in your future based on the principles of finance discussed in this course.
How to do journal entries without explanations to record : The transactions relate to cash dividends for the year ending December 31, 2005. How to do journal entries without explanations to record the transactions
Describe how laws are created : Describe how laws are created. Identify the sources of the law that you are being charged under. Explain how the court system operates. Assess what a court.
What are the processes by which people develop into liars : Based on your explanation of these processes, how could individuals and/or societies be protected from being deceived
Data collection and ethics : What are the general practices surrounding data collection? How can privacy violations occur?
How to record the issuance of the bond and record : On the date of authorization, January 1, 2005, the Marchese Corporation issued, How to record the issuance of the bond and record the first interest payment?
Which type of compensation plan is recommended and why : What are some cautions that Company should consider when implementing the recommended bonus plan? Which type of compensation plan is recommended and Why?
Data grain-benefit to decision-making process : Why is too much data grain not necessarily a benefit to the decision-making process?
Why is cost of capital when making investment decisions : Why is it important for the company to know its cost of capital when making investment decisions? Operating cash flows would be $220 000 in the first year.

Reviews

Write a Review

Financial Management Questions & Answers

  In bond portfolios a barbell strategy generally involves

In bond portfolios a barbell strategy generally involves

  What is one share of this stock worth

What is one share of this stock worth to you if the requires rate of return is 12.5%?

  What annual contributions to the retirement fund

What annual contributions to the retirement fund will allow you to receive the $24,000 annuity?

  Decline in sales due to increased competition from abroad

Tandem Bicycles is noticing a decline in sales due to increased competition from abroad.

  What are the projects IRRs assuming the WACC

What are the projects' NPVs assuming the WACC is 10%? What are the projects' IRRs assuming the WACC is 5%?

  Guaranteed to make you risk-free immediate profit

Identify a portfolio that includes a long position in exactly 100 shares of stock in firm X and is guaranteed to make you a risk-free immediate profit.

  What would his payments be if he borrows under these terms

John Jones is buying a house for $100,000. John can get a loan for 95% of the purchase price at 8% with monthly payments for a 25-year term.

  Wealthy parent is trying to fund trust fund

A wealthy parent is trying to fund a trust fund for his oldest son. What will be the yearly withdrawal for the son from the trust?

  Assets-sales and the debt ratio would not be affected

Assets, sales, and the debt ratio would not be affected. By how much would the cost reduction improve the ROE?

  Equity is expensive and debt is lower cost that equity

Some say debt is expensive is equity is free. Some say equity is expensive and debt is lower cost that equity.

  Beta measures-ratios that measure how efficiently firm

Beta measures. Ratios that measure how efficiently a firm uses its assets to generate sales are known as _____ ratios.

  A venture capital firm menlo ventures

A venture capital (VC) firm Menlo Ventures is willing to provide financing of up to $5 B in acquisition of Pharmaset.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd