Question

Case Study - The Business Value of Trust Consumer trust has become the new battleground for digital success. To win, organizations need to master the fundamentals of data ethics, manage the “give-to-get” ratio and solve the customer trust equation, our recent research reveals. Ethics must become a key performance indicator for every employee who has a direct or indirect connection with customer data. Prepare a short essay report on the given Case Study highlighting your views and arguments towards how organizations can take effective steps for win the digital data ethics battle

Answer 1

How organizations can take effective steps to win the digital data ethics battle:

1. Approximately 70% of the respondents don't know where their data is stored and it would be threat to them if organizations compromise on their ethics. This factor should be taken care by the companies storing them. And by doing so, it would eliminate most of the barriers of trust with the costumers.

2. If companies breaks their trust, the respondents stop their business with them and in contradiction, they also pay a premium if companies or say organizations retain their trust.

3. Many respondents stop their digital start ups due to their lack of trust in the companies. That would go about nearly 40% of the respondents when mentioned in comparitive form.

4. Respondents are more concerned about their privacy, security which when compromised results in lack of trust and this stage should be completely avoided by the organizations which finally gets trust in digital data ethics to be evolved.

5. The company should indicate to the people how and where their information will be used and due to this trustworthiness of the company gets raised in the minds of the respondents.

6. The costumers expects some return of value when sharing their personal information to the companies. This give-to-get ratio should be positive in order to keep up the trust of the costumers.