Keywords: Consumer Data, Data-Driven Decision-Making, Ethical Dilemmas, Facebook, Values-Based Decision-Making
Author: Sara Savat
Publisher: The Source
Publication Year: 2021
Publisher: The following article discusses the ethical dilemma that businesses are now faced with regarding the use of consumer data and tools that are built by companies like Facebook. It points out the need for not only profit- and data-driven decision-making, but also for values-based decision-making. It also argues that there is a long-term business incentive for executives to be responsible “stewards” of their company brands. Companies that fail to recognize the ethical concerns of their customers and make the hard decisions to forgo short-term profits from unethical practices will be sacrificing growth in the long term.