Question

Use sufficient detail and depth to answer the following questions on how Facebook is changing the internet:

How do you think that Facebook should balance its responsibilities to its shareholders - to maximize profits - with its responsibilities to its other stakeholders (e.g., its users, and the citizens of the countries in which it operates)? For instance, Facebook makes more money when controversial content is posted, but what if that content is "fake news"? Does Facebook have any responsibility for ensuring that user postings are accurate, truthful, and not misleading? Or is it "reader beware" - up to the reader to verify that the information that they are receiving is accurate and true?

Answer 1

I think Facebook needs to take care of its social responsibilities towards its other stakeholders like the uses and the citizens. Facebook earn billions of dollars from the posting of people. Such postings can contain fake news, rumors, deceptive stories, etc. Therefore, the moral responsibility of containing such misleading posting lies on Facebook. When a company earns revenue by using the resources of the society, it must give back to the society. The responsibility of checking the authenticity of a post should not be left entirely to the users. In addition, carrying out social responsibilities will make a significant business sense for Facebook.   When Facebook carries out its social responsibilities, it earns the reputation of being a socially responsible business. Also, it earns brand loyalty and trust of users in this way. Such improvement in reputation and brand loyalty will increase profits of Facebook, which will make the shareholders happy.