BMGT final exam 2019

QUESTION 1- Obligation to Protect Consumers’ Personal/Financial Information 

Disclosing our personal and financial information to corporations via online portals, apps and websites has become a necessity of modern life and can hardly be described as optional. Whether we are communicating with our doctors, booking a hotel room or buying a school textbook, online disclosure of personal and financial information is required. Even our employers are requiring us to disclose our personal and financial data to human resource contractors. 

Hacking and theft of our personal and financial information is also a fact of modern life. We are understandably angry when we learn that corporations who gathered our personal and financial information did not sufficiently invest in cybersecurity safeguards to prevent hacking. 

A federal court has decided that the Federal Trade Commission (FTC) has authority to regulate and punish corporations as it pertains to protection of our personal and financial data. In a first of its kind case, the FTC fined Wyndham Worldwide Corporation for lax cybersecurity, leading to three (3) hacking incidents in two (2) years.  Please review the link below regarding the case. 

Fair, L. (2015, August 25).  Third Circuit rules in FTC v. Wyndham case.  Federal Trade Commission.  Retrieved from https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwjKpoCI3fzfAhWmmOAKHUDZAowQFjAAegQICRAB&url=https%3A%2F%2Fwww.ftc.gov%2Fnews-events%2Fblogs%2Fbusiness-blog%2F2015%2F08%2Fthird-circuit-rules-ftc-v-wyndham-case&usg=AOvVaw2JbjEkM8nbiBLsYFnpuzZX

Many companies believe they should not be required to disclose hacking incidents to their affected customers. Additionally, many companies argue that it is unfair to be fined by the FTC when hackers steal information. 

1. Discuss the arguments corporations can make in support of their position that they do not have a duty to disclose hacking incidents to their affected customers?
2. Explain why the court in FTC v. Wyndham Worldwide Corporation agreed that the FTC was justified in fining Wyndham Worldwide Corporation? 

QUESTION 2 - Child Labor and Cultural Relativism 

Those living in wealthy countries nearly universally condemn businesses that employ impoverished children under the age of 14 in poor countries.  Contrarily, families living in poor countries are grateful that businesses come to their countries and offer work to their children. 

1. Explain why this division of opinion is a classic example of cultural relativism?
2. Presenting supporting and opposing arguments (for and against), discuss why a business headquartered in a wealthy nation can employ children under the age of 14?
3. Discuss what specific standards and restrictions should govern the practice of using child labor.