Question

In your own words, write an introduction and conclusion, in regrds to customer privacy in business?

Answer 1

Introduction: Customers are the most important part of a business. The sole reason being, they pump the revenue and growth of the business and industry. A customer-centric approach is the only reason that companies like American Express and Amazon have become giants they are today. However, in today's technology-driven environment, when most of the customers are connected with the company through online media and selling-buying happens over a smartphone app, the customer privacy has become a new area of concern for most of the service providers. Taking the recent example and testimonial by Facebook CEO about the customer data leak, there is an increased need for the customer's data and identification breach by the business side.

Conclusion: Hence, from the analysis, it is pretty clear that the market is customer oriented with the high bargaining power of buyer and there are many service providers along with many those who wish to enter the market. Using a mutual trust approach will only help in maintaining a good relationship with the customer and that can be done by making the customer more secure. The customer data should not be breached or used by the company for any purpose other than services intended. The market will flourish this way and customers will be more willing to stay with the firm. Moreover, the firms should affirm the customers before signing up the customer that their data will not be shared with anyone outside the intended dimensions.