Question

What should Zuckerberg and the Facebook leadership team do to achieve the right balance between privacy and profits?

Answer 1

Things that Zuckerberg and the Facebook leadership team can do to achieve the right balance between privacy and profits are as follows:-

• Develop a clear strategy for the collection of data.
• Define how the data will be stored & used.
• Make its users well aware of how their data is being captured, stored, circulated or sold.
• Take the consent of users before storing any of their data.
• Following moral principles.
• Following ethical codes for the purpose of maintaining brand image.
• Providing monetary compensation as kickbacks to people who allow them to use their data for the purpose of earning profits. It basically means providing incentives for opting in for data collection by them.
• Ensuring that they are socially responsible.
• The most important things in the management strategies that need to be considered for the purpose of achieving the right balance are ethics & corporate social responsibility.

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