Misinterpretation, Lack of Reliability, and Validity of Data
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There are numerous articles that deal with legal and ethical pitfalls related to misinterpretation, lack of reliability and validity of data. We are all aware of the popular usage of references and resources chosen not for their own unquestionable authenticity and validity but rather chosen to support a specific leaning, point of view, or action. The adage about using statistics in any way one wants emphasizes the frequency of data mishandling.
Reviewing scandals of our recent corporate past and please answer the following:
- How did the company you have researched use or misuse data to support their decisions?
- What were the results of this mishandling?
- Interactive: Focus on one other corporate entity of your choice from such institutions as banking, lending, mortgage institutions, telecommunication, automobile industry, insurance companies etc. How did this company misuse data?
- Respond to one other learner and discuss the ethical implications of this case.
- Interactive: Respond to another learner's post and discuss the implications of this different case.
Objective: The Objective of the Unit 3 DB Assignment will involve the following the Course Outcomes and Grading Criteria with their respective percentages for the :
- Summarize the role of decision making in business.
- Explain the roles of emotion and fairness in decision making.
- Use effective communication techniques.
- Apply the standard of APA Style to all research and writing tasks.
- Apply critical thinking skills to analyze business situations.
- Apply principles of quantitative and qualitative research to business cases.
- Recognize situations that present potential legal and ethical issues and develop solutions for those issues.
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Solution Summary
The response addresses the queries posted in 925 words with references.
Solution Preview
The response addresses the queries posted in 925 words with references.
//Business ethics are very important for an organization to achieve long-term success so that trust of consumer and market can be won by the company. But companies generally misrepresent the data and facts in balance sheets and in other financial reports to attract the market and investors to gain revenue and other benefits. In this context, the effort will be put to focus that how misrepresentation of facts and figures may give short term benefit but in the long term, it can ruin the business of a settled organization. //
Ethics can be generally defined as the decision making or judgment about the right or wrong either they are subjected to individual or business organization. In an organization, decision making has been done by individuals or groups but they naturally influence the corporation. The ethical and moral decision as well as behavior of any employee benefits him in the long term. Under the context of business organization, the trust and reliability of consumers on the company is very much essential and it can only be built in a long run, But there are various motives of a business organization, due to which they misrepresents the facts and data. The main reason behind this type of unethical behavior of business organizations is to attract consumers towards the product, which further causes increase in sales and revenue and reduction in turn over of labors to increase the productivity. This also leads to the stock price of the company to remain at a higher level.
// In the above section, ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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