Should there be a "code of ethics" in the field of business use of information downloaded from social media portals?
This type of "code of ethics" in the use of information contained in social networks should be created on a national and cross-polar perspective. In this perspective, the "code of ethics" should be strictly correlated with the binding standards of business ethics and legal regulations for conducting business in a given country. Such "ethical codes" create for their own needs some companies that operate in internet marketing and use data obtained from posts, comments and posts contained on social media portals for this commercially-run marketing activity and in the field of information services.
Research on this issue shows that more and more technology and marketing companies obtain information from entries, posts, comments posted by Internet users, including users of social media portals.
The information collected from these sources from these websites is aggregated in Big Data database systems and processed mainly for the purpose of their use in the marketing activity of a given technology company or for the needs of other companies that are its clients.
In the context of the information downloaded in this way and their use for commercial purposes, a question arises regarding the ethics of this activity.
In my opinion, to ethically use the discussions, content of entries, posts posted on social media portals, it is necessary to acquire and process this scientific data using the principle of anonymity of aggregation and data processing for the needs of research, apply an objective research approach, comply with applicable ethics standards of research and in accordance with applicable law.
However, taking into account the growing Internet marketing sector, the need for a national or international "code of ethics" in the field of business use of information downloaded from social media portals may emerge more and more often.
In view of the above, I am asking you: Should there be a "code of ethics" in the field of business use of information downloaded from social media portals?
Dear Tesfahun Hailemariam, Thank you very much for making very important inquiries on the Research Gate portal and inspiring important discussions on particularly important issues.
The topics that are the subject of discussion are particularly important and scientifically important and in the context of human life.
Should there be a "code of ethics" in the field of business use of information downloaded from social media portals?
This type of "code of ethics" in the use of information contained in social networks should be created on a national and cross-polar perspective. In this perspective, the "code of ethics" should be strictly correlated with the binding standards of business ethics and legal regulations for conducting business in a given country. Such "ethical codes" create for their own needs some companies that operate in internet marketing and use data obtained from posts, comments and posts contained on social media portals for this commercially-run marketing activity and in the field of information services.
Research on this issue shows that more and more technology and marketing companies obtain information from entries, posts, comments posted by Internet users, including users of social media portals.
The information collected from these sources from these websites is aggregated in Big Data database systems and processed mainly for the purpose of their use in the marketing activity of a given technology company or for the needs of other companies that are its clients.
In the context of the information downloaded in this way and their use for commercial purposes, a question arises regarding the ethics of this activity.
In my opinion, to ethically use the discussions, content of entries, posts posted on social media portals, it is necessary to acquire and process this scientific data using the principle of anonymity of aggregation and data processing for the needs of research, apply an objective research approach, comply with applicable ethics standards of research and in accordance with applicable law.
However, taking into account the growing Internet marketing sector, the need for a national or international "code of ethics" in the field of business use of information downloaded from social media portals may emerge more and more often.
In view of the above, I am asking you: Should there be a "code of ethics" in the field of business use of information downloaded from social media portals?
Is the scale of the occurrence of unethical practices in business correlated with the size of the shadow economy in domestic economies?
Unethical practices in business constitute a negative aspect of business processes and often generate additional costs for contractors and consumers. On the other hand, the scale of the gray market in the domestic economy is often correlated with the level of fiscal burdens and the quality of legal regulations regarding the commencement of business activities.
The high share of shadow economy in various branches of the national economy is also lower income from taxes and fees to the central state budget and to local budgets of local government units.
High fiscal burdens and imprecisely formulated legal regulations regarding running a business activity apart from generating a high level of gray economy in the economy may also be a source of unethical practices used in business between contractors or between producers and suppliers of products and services and consumers.
The large scale of the shadow economy in the domestic economy and the applied unethical practices in business is one of the key factors in the imperfections of the country's economic system.
According to the above, the current question is: Does the scale of occurrence of unethical practices in business correlate with the size of the shadow economy in domestic economies?
Please, answer, comments. I invite you to the discussion.
Is unethical business practices a negative external effect of non-ideal market structures or imperfection of the social market economy?
Unethical business practices operate in different countries to varying degrees and participate in economic processes.
For many entities, market participants, business partners and consumers, they generate additional costs.
They can also be a source of gray economy growth, including avoiding paying taxes.
Thus, there are social costs for individual entities and financial for the entire economy.
on the capital markets, one of unethical business practices is, for example, insider trading, ie the use of confidential information by decision-makers with access to confidential information used to conduct transactions to purchase or sell financial instruments, including securities or other securities or other capital markets.
In individual countries, there are various instruments to combat the use of unethical business practices, the shadow economy, etc.
The effectiveness of individual normative solutions, the scale of restrictions applied, and the business mentality of market participants, entrepreneurs and businessmen are different.
Another mentality is related to the level of awareness regarding corporate social responsibility.
In individual countries, social campaigns are carried out suggesting the legitimacy of developing concepts based on corporate social responsibility.
In view of the above, please answer the following question: Is unethical business practices a negative external effect of non-ideal market structures or imperfection of the social market economy?
Please, answer, comments. I invite you to the discussion.
Should research in the field of ethics be developed in the context of the development of Industry 4.0 technology, including data analysis in Big Data database systems?
Yes, modern, contemporary education, including the new education 4.0 should include ethical issues and social problems. Ethics issues should be researched in the field of, for example, ethics of scientific research, ethics of solving social problems, ethics of data analysis obtained from the Internet and processed in the cloud on Big Data database platforms, business ethics, ethics of financial transactions in investment banking to reduce the risk of in the future of further financial crises, etc.
More and more technology and marketing companies acquire information from entries, posts, comments posted by Internet users, including users of social media portals.
The information collected from these sources from these websites is aggregated in Big Data database systems and processed mainly for the purpose of their use in the marketing activity of a given technology company or for the needs of other companies that are its clients.
In the context of the information downloaded in this way and their use for commercial purposes, a question arises regarding the ethics of this activity.
In my opinion to ethically use the discussions, content of entries, posts posted on social media portals, it is necessary to obtain and process this scientific data using the principle of anonymity of aggregation and data processing for the needs of research, use an objective research approach, comply with applicable ethics standards of research and in accordance with applicable law.
Unethical business practices operate in different countries to varying degrees and participate in economic processes.
For many entities, market participants, business partners and consumers, they generate additional costs.
They can also be a source of gray economy growth, including avoiding paying taxes.
Thus, there are social costs for individual entities and financial for the entire economy.
on the capital markets, one of unethical business practices is, for example, insider trading, ie the use of confidential information by decision-makers with access to confidential information used to conduct transactions to purchase or sell financial instruments, including securities or other securities or other capital markets.
In individual countries, there are various instruments to combat the use of unethical business practices, the shadow economy, etc.
The effectiveness of individual normative solutions, the scale of restrictions applied, and the business mentality of market participants, entrepreneurs and businessmen are different.
Another mentality is related to the level of awareness regarding corporate social responsibility.
In individual countries, social campaigns are carried out suggesting the legitimacy of developing concepts based on corporate social responsibility.
The basic data used to determine the effectiveness of commercial banks are included in the banks' financial statements. these data relate to the bank's involvement in specific active transactions, necessary to determine the quality of the loan portfolio, to determine the quality of credit, operational, liquidity, debt, operational risk management processes, etc. An IT risk analysis should be added to this. In addition, financial statements also include data to calculate the deposit security ratio, profitability of individual categories of assets and use of available financial resources. This type of data should be combined with individual categories of estimated risk levels measured in correlation to the involvement in individual active operations. However, in the case of the analysis of the investment bank's effectiveness, it should additionally include an analysis based on risk assessment models for investment in derivatives and other capital market instruments. In this regard, many banking procedures were previously unreliably carried out which generated very high levels of credit risks and caused huge financial losses, eg in the Lehman Brothers investment bank, bankruptcy of this bank and the beginning of the global financial crisis in mid-September 2008.
I researched this problem and in my publications I confirmed that it is possible to combine the question of the reliability of banking procedures implemented in the area of risk management with sources of financial crises.
Therefore, I am asking you with the following query: Should ethics research in the context of Technology 4.0 industry be developed?
Please, answer, comments. I invite you to the discussion.