Chat with us, powered by LiveChat Understanding Crisis Management and Risks Crisis management, an important planning process, reached global importance with the industrial and environmental disasters of the 1980s. A crisis | Wridemy

Understanding Crisis Management and Risks Crisis management, an important planning process, reached global importance with the industrial and environmental disasters of the 1980s. A crisis

Understanding Crisis Management and Risks Crisis management, an important planning process, reached global importance with the industrial and environmental disasters of the 1980s. A crisis

 Understanding Crisis Management and Risks

Crisis management, an important planning process, reached global importance with the industrial and environmental disasters of the 1980s. A crisis is a threat to the organization, includes an element of surprise, and requires the organization to respond in a short period of time. Even though there is an element of surprise, organizations can prepare for some measure of risk. Managing crises and risks are more relevant today as businesses deal with protecting data, utilizing ethical supply chains, manage cross-cultural communications, focus on producing safe products, and evaluate how to forestall man-made environmental disasters. COVID-19 is a crisis facing businesses, governments, and societies across the globe.  Consider COVID-19 and the impact on businesses.Be sure that you accurately answer/cover the following in your analysis:

  1. Research the impact of COVID-19 on business organizations in Saudi Arabia. 
  2. From your research, what have been successful and unsuccessful examples of crisis management? 
  3. What knowledge have you gained from your crisis management research that might be useful when considering ethical scandals? 

You should meet the following requirements:

  • Be 3-4 pages in length, which does not include the title page, abstract, or required reference page, which are never a part of the minimum content requirements.
  • Use APA style guidelines.
  • Support your submission with course material concepts, principles, and theories from the textbook and at least two scholarly, peer-reviewed journal articles.

 

Required

Recommended

Business & Society Ethics, Sustainability & Stakeholder Management 10th Edition

© 2018 Cengage

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Chapter 9 Business Ethics and Technology

© 2018 Cengage

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Learning Outcomes (1 of 2)

Identify and describe what the new world of Big Data is all about and the implications it holds for business.

Explain how social media have changed the world of business and technology.

Discuss how surveillance is a new dimension to being a consumer and an employee and what its implications are for stakeholders.

Articulate an understanding of technology and the technological environment.

© 2018 Cengage

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Learning Outcomes (2 of 2)

Identify the characteristics of technology to include their benefits, side effects, and challenges in business.

Comment on the relationship between technology and ethics.

Define information technology and discuss the issues relating to e-commerce in business.

Define biotechnology. Identify the ethical issues involved in genetic engineering and genetically modified organisms (GMOs).

© 2018 Cengage

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Chapter Outline

The New World of Big Data

Technology and The Technological Environment

Characteristics of Technology

Technology and Ethics

Information Technology

Biotechnology

Summary

Key Terms

© 2018 Cengage

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Business Ethics & Technology

We live in an age dominated by advancing technology. Each new generation experiences technological advances that were not seen by previous generations.

The new generation of young people is called the iGeneration. Technology is part of their DNA, and they have no “off-switch.”

Technology is at the core of most businesses, but it is a two-edged sword.

Despite many positive advances, there are new problems and challenges.

© 2018 Cengage

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The New World of Big Data (1 of 2)

Big Data –

the tons of information that are out there and how businesses are striving to put it to work.

More information from more sources than ever before.

Businesses can access it as quickly as it’s generated.

Advantages of Big Data accompanied by new issues: data security, privacy, cybercrime.

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The New World of Big Data (2 of 2)

Social Media –

Cutting edge of business communication based on technology

Has a dark side where social and ethical issues arise.

Unfair reviews and how they respond to them are a constant challenge

Places more emphasis on instantaneous rather than accurate information

Surveillance –

Monitor customers’ and employees’ actions

For good, but possible abuses

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Technology and the Technological Environment

Technology –

The totality of the means employed to provide objects necessary for human sustenance and comfort.

A scientific method used to achieve a practical purpose.

Technological environment –

The total set of technology-based advancements or progress taking place in society.

© 2018 Cengage

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Characteristics of Technology

Benefits of Technology –

Increased production of goods and services

Reduced amount of labor needed to produce goods and services

Made labor easier and safer

Results in a higher standard of living

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Costs of Technology –

Technology has some unanticipated side effects:

Environmental pollution

Depletion of natural resources

Technological unemployment

Creation of unsatisfying jobs

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Challenges of Technology –

Data amnesia – forgetfulness from outsourcing from brains to digital devices.

Google Effect – knowing that information is easily accessible on the Internet, we are less likely to remember it.

Communications technology affects our brains, nervous systems, social abilities, relationships, mental health, physical health, and family structures.

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Technology and Ethics

Our perspective is to raise ethical questions that may be related to business development, and the use of technology.

Two Key Issues –

Technological determinism –

The idea that what can be developed will be developed.

Ethical lag –

Occurs when the speed of technological change far exceeds that of ethical development.

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Information Technology

© 2018 Cengage

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E-Commerce as a Pervasive Technology

Electronic Commerce –

Also called e-commerce, e-business, or Web-based marketing.

The Internet has reshaped the way business is conducted.

Online Scams – con artists are using the Internet to scam the unwary; including fake check scams, free gifts, phishing, Nigerian money offers, credit card fraud, travel scams, pyramid schemes, and investment opportunities.

Ongoing Issues in E-Commerce Ethics –

Access

Intellectual property

Privacy and informed consent

Protection of children

Security of information

Trust

© 2018 Cengage

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Invasion of Consumer Privacy via E-Commerce

Cookies –

Identification tags that websites drop on our personal-computer hard drives so they can recognize repeat visitors the next time we visit their Web sites.

Spam –

Unsolicited commercial e-mail. It is sent through "open-relays" to millions of persons.

Identity Theft –

Tampering with one’s financial accounts.

© 2018 Cengage

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Figure 9-1

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Government’s Involvement in Consumer Privacy Protection

Government is involved in consumer privacy, many think it is not doing enough.

In 2012 the White House issued a proposed a

Consumer Privacy Bill of Rights though it has not been adopted into law.

Individual Control

Transparency

Respect for Context

Security

Access and Accuracy

Focused Collection

Accountability

A proposed Consumer Privacy Protection Act of 2015 was still in committee.

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Business Initiatives with Consumer Privacy Protection

Ethical leadership

Privacy policies

Chief privacy officers

Data security

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Questionable Businesses and Practices

Made possible by electronic commerce and the use of the Internet.

Three business categories viewed as questionable:

Web-based pornography

Internet gambling

Web-based downloading of music, movies, books, and other copyrighted digital material

Illegal Downloading – represents theft of intellectual property

Monitoring Technology – raises questions when companies use technology to monitor consumers as they use a company’s products.

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The Workplace and Computer Technology (1 of 2)

Biometrics – the use of body measurements, like eye scans, fingerprints, or palm prints for determining and confirming identity

Robotics – use of industrial robots could double by 2018. People worry they will lose their jobs to robotics technology.

Artificial Intelligence – embraces software technologies that make a computer or robot perform equal to or better than normal human ability in accuracy, capacity, and speed.

Cell Phones and Texting – use of company phones, or using phones for business while driving is a business ethics topic.

© 2018 Cengage

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The Workplace and Computer Technology (2 of 2)

Unethical Actions by Employees

Created a potentially dangerous situation by using new technology while driving

Wrongly blamed an error the employee made on a technological glitch

Copied the company’s software for home use

Used office equipment to shop on the Internet for personal reasons

Used office equipment to network/search for another job

Accessed private computer files without permission

Used new technologies to intrude on coworkers’ privacy

Visited porn websites using office equipment

Company Actions – management should clearly define guidelines for ethical computer use by employees.

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Ten Commandments of Computer Ethics

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Biotechnology

Biotechnology –

Involves using biology to discover, develop, manufacture, market, and sell products and services. Biotechnology is striving to heal, fuel, and feed the world.

Bioethics –

A field that deals with the ethical issues embedded in the commercial use of biotechnology.

Proceduralism is the primary tool for bioethicists. It is using protocols to ensure that classical safeguards are not violated.

© 2018 Cengage

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Realms of Biotechnology

Genetic Engineering

Genetically Modified Foods

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Genetic Engineering

Stem cell research

Cloning

Cloning Animals for Food

Genetic testing and profiling

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Genetically Modified Organisms (GMOs)

Also referred to as genetically engineered organisms (GEOs)

Fear over health and environmental effects; critics call them “Frankenfoods.”

Many U.S. crops are genetically modified:

Sugar beets (95%)

Soybeans (91%)

Cotton (88%)

Corn (85%)

Most Americans consume genetically modified organisms every day.

© 2018 Cengage

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Labeling of GMOs –

Safety of GMOs is not in question, according to scientific research.

But one of the most frequently discussed issues with GMOs is labeling.

FDA does not mandate GMO labeling in the U.S.

The Non-GMO Project believes that people have the right to make informed choices about whether they consume GMO products.

© 2018 Cengage

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Key Terms

Artificial intelligence

Big Data

bioethics

biometrics

Biotechnology

botnets

botnet scam

chief privacy officer

cloning

Cookies

Digital amnesia

electronic commerce

embryonic stems cells

ethical lag

genetic engineering

genetic profiling

genetic testing

genetically modified foods (GMFs)

Genetically modified organisms (GMOs)

Google effect

Information technology

identity theft

online scams

phishing

Spam

technoethics

technological determinism

technological environment

technology

therapeutic cloning

© 2018 Cengage

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Business & Society Ethics, Sustainability & Stakeholder Management 10th Edition

© 2018 Cengage

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Chapter 6 Issue, Risk and Crisis Management

© 2018 Cengage

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Learning Outcomes

Distinguish between risk management, issue management, and crisis management.

Describe the major categories of risk and some of the factors that have characterized risk management in actual practice.

Define issue management and the stages in the issue management process.

Define crisis management and identify four crisis stages.

List and discuss the major stages or steps involved in managing business crises.

© 2018 Cengage

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Chapter Outline

The Relationship Between Risk, Issue, and Crisis Management

Risk Management

Issue Management

Crisis Management

Summary

© 2018 Cengage

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Risk, Issue & Crisis Management

With little government oversight, the consumer is forced to rely on businesses to act responsibly.

But such tragedies, and the financial scandals of many corporations, continue to erode consumer trust in businesses.

Major external social events not caused by business also affect businesses, and firms must prepare to deal with them.

No company is immune to the threat of a crisis, but few prepare.

Managerial decision-making processes should include Risk Management, Issue Management, and Crisis Management.

© 2018 Cengage

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Relationships Between Risk, Issue, and Crisis Management (1 of 2)

Differentiating between these 3 is difficult. Many product managers cannot differentiate between “risks” and “issues,” which has led them to be labeled the Siamese twins of public relations.

The Issue Management Council definitions:

Issue – a gap between a firm’s actions and stakeholder expectations

Risk – a potential issue that may or may not occur

Crisis – an issue that has escalated to a critical state

© 2018 Cengage

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Relationships Between Risk, Issue, and Crisis Management (2 of 2)

Goal: To be effective, risk, issue and crisis management must close the gap between the firm’s situation and its stakeholders’ expectations.

Many of the crises firms face today arise out of issue categories they are monitoring and prioritizing through issue management systems.

Risk Management may keep issues from arising

Effective issue management may enable the firm to avoid a crisis, or minimize its impact, and is vital to post-crisis management.

© 2018 Cengage

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Risk Management (1 of 2)

Risk management concerns potential issues; it addresses an issue that has not yet occurred, and tries to keep the issue from arising.

A “rules” approach to risk management can help prevent internal risks, but not those that stem from firm strategy or risks in the external environment.

Example: In 2007, Tony Hayward, new CEO of British Petroleum (BP) promised to make safety his priority. His new rules required that employees not text while driving, and that they use lids on their coffee cups while walking. Of course, those rules did not prevent the Deepwater Horizon from exploding three years later.

© 2018 Cengage

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Risk Management (2 of 2)

A new framework for Risk management divides it into three categories:

Preventable risks – internal risks that offer no strategic benefit (BP’s coffee lids)

Strategic risks – risks taken to achieve greater returns (BP’s deep drilling)

External risks – external risks that cannot be controlled (natural disasters and economic shocks)

© 2018 Cengage

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Risk Management & Sustainability

Sustainability involves living in the present in a way that does not compromise the future.

Risk Management involves taking action today that will mitigate or prevent a problem that could arise in the future.

Both are concerned with the future consequences of present-day actions.

Risk-shifting may damage the sustainability of others.

© 2018 Cengage

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Issue Management –

is a process by which organizations:

identify issues in the stakeholder environment,

analyze and prioritize them in terms of their relevance to the organization,

plan responses to the issues, and then

evaluate and monitor the results.

It is helpful to think of issue management in connection with sustainable strategic management process, enterprise-level strategy, corporate public policy, and integrated reporting.

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Fig 6-1

© 2018 Cengage

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Portfolio Approach –

Experience with prior issues likely influences future issues

Provides focus and coherence to the firm’s dealing with the mix of issues it faces

Failure to adopt certain issues into the portfolio does not signal neglect, but is part of a rational process of issue management in which strategic priorities are vital

© 2018 Cengage

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Issue Definition –

A gap between what stakeholders expect and what the firm is doing.

The gap typically involves debate, controversy, or differences of opinion that must be resolved.

At some point, the organization must make a decision on the matter, but that does not mean the issue is resolved.

Once an issue becomes public, its resolution becomes increasingly more difficult.

Issues are ongoing, and require ongoing responses.

© 2018 Cengage

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Emerging Issues –

Characteristics of an emerging issue –

The terms of the debate are not clearly defined.

The issue deals with matters of conflicting values and interest.

The issue does not lend itself to automatic resolution by expert knowledge.

Issue is often stated in value-laden terms.

Trade-offs are inherent.

© 2018 Cengage

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Issues Management Process-

Issues can be identified earlier, more completely, and more reliably.

Early anticipation:

Widens the range of options.

Permits study and understanding of the full range of issues.

Permits organization to develop a positive orientation towards the issues.

The organization will have earlier identification of the stakeholders.

The organization will be able to supply information to influential publics earlier and more positively, creating better understanding.

© 2018 Cengage

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Model of Issues Management Process

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Identification of Issues (1 of 2)

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Identification of Issues (2 of 2)

Five Leading forces as predictors of social change:

Events

Authorities or advocates

Literature

Organizations

Political jurisdictions

If these five forces are monitored closely, impending social change can be identified, and sometimes predicted.

© 2018 Cengage

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Examples of Forces Leading Social Change

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Issue Selling and Buying

Issue selling –

Relates to middle managers exerting upward influence in organizations as they try to attract the attention of top managers.

Issue buying –

Top managers adopt a more open mind-set for the issues that matter to their subordinates.

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Analysis of Issues –

Who (which stakeholder) is affected by the issue?

Who has an interest in the issue?

Who is in a position to exert influence?

Who has expressed opinions on the issue?

Who ought to care about the issue?

To help with issue analysis:

Who started the ball rolling? (Historical view)

Who is now involved? (Contemporary view)

Who will get involved? (Future view)

© 2018 Cengage

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Ranking or Prioritization of Issues

Two essential questions –

How likely is the issue to affect the organization?

How much impact will the issue have?

Once these questions are answered, it is necessary to prioritize them as to their importance or relevance to the organization.

Those listed at the top will receive the most attention and resources; those at the bottom may be removed from consideration.

© 2018 Cengage

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Other Issues: Ranking Techniques

© 2018 Cengage

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Formulation and Implementation of Response

Formulation –

The response design process.

Implementation –

The action design process.

Clarity of the plan

Resources needed to implement the plan

Top management support

Organizational structure

Technical competence

Timing

© 2018 Cengage

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Evaluation, Monitoring, and Control

Companies should continually evaluate the results of their responses to issues.

Ensure that actions are kept on track.

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