Friday, 5 June 2020

THE HONOR IS AT STAKE

Now the era of social media is going on . It seems like the entire world is under the one roof . Everyone is connected with each other one can interact with another one sitting in different city or even in a different country. Today, I going to talk about a incident took place with the social media king of the world which is FACEBOOK . facebook is not new for us . Yes Facebook go stuked in a case .
The case is stemmed from Facebook’s photo labelling service, Tag Suggestion which uses face matching software to suggest the name of people in users photo. The suit said the Silicon Valley company violated an Illinois biometric privacy law by harvesting facial data for Tag Suggestion from the photos of millions of users in the state without telling them how long the data would be kept. Facebook had said the allegations have no merit.  The case also illustrates the protections that strong state laws may offer consumers.  Of the three states that have stand alone biometric privacy laws , Illinois has the most comprehensive one . It requires companies to obtain written permission before collecting a person’s fingerprints , facial scans or other identifying biological characteristics . The law also gives residents the right to sue companies for up to $5,000 per violation,  which could add up to billions of dollars in payouts for tech giants that lose such class action suits.

“ The Illinois law has real teeth . It pretty much stopped Facebook in its tracks,’’ said Marc Rotenberg, the executive director of the Electronic Privacy Information Centre, a non profit  group that filed  a brief in the Facebook case. Tech firms and other companies that collect biometric data must be very nervous right now.  “ Courts have recognized that the very loss of control over this highly sensitive, highly personal information itself causes harm to people,’’ said Nathan Wessler ,a staff attorney at the American Civil Liberties Union which also filed a brief in the Facebook case. Under the agreement, facebook will pay $550 million  to eligible Illinois users and for the plaintiffs legal fees . The sum dwarf the $380 million that the Equifax credit reporting agency agreed this month to pay to settle a class action case over a 2017 consumer data beach . Facebook disclosed the settlement as part of its quarterly financial results, in which it took a charge on the case . The sum amounted to a rounding error Facebook , which reported that revenue rose 25% in the fourth quarter, compared with a year earlier while profit increase 7percent .
Now the  question is what facebook is doing ?  for the edacity of some amount of money it spoiled its millions and billion of honor . At the present time Facebook is the biggest name of trust in the pan world . It use the personal information of its users and clients . Anybody who is linked with you by any ways so it is our prime responsibility to take care of their trust . What the facebook done ? As per my concern this is completely unethical from all point of view .Using someone’s private photos and details is very worse thing . If you are the market king it does not mean that you will do whatever you want to do  .Not in only business world but even in the common people society this type of work will strictly avoided . No one will take care how better you have done in future in your past ,your single work might spoil your year and years honor . Facebook said that its intention was not wrong they only wanted to promote digital security and to make peoples life easy but at the same time facebook’s approach of doing that thing is completely wrong . So your better future and present of any business one should care about all the aspect .

vintage relation spoiled

Do you know what is the key element for the success of any business , even in our daily life what is the primary thing ? As far as I  think it is the faith and loyalty is the key factor . But now the word loyalty has gone somewhere now know you only see the fraud and malpractice everywhere in the busieness and corporate world . Everyday we listen about the new business scandals which states that today’s business has forgotten the ethics and principle which should be followed . 

I want to light out a another exploitation of business ethics . Have you ever heard about Religare Finvest  this name is not new in investment and financing . Companies hires  other who can promote their business but what will happen if these promoters cross the line of ethics . Yes, promoters of Religare Malvinder and Shivinder Singh (singh brothres ) cheated with their client Religare . These promoters made conspiracy with the internal employees to grab the companies money . 

I and you can not even imagine what they had done . They made two fake companies Modland Wears Pvt.Ltd and Artifice Property Pvt Ltd . At the name of these two companies the promotes with the black snakes applied the loan of 162 crore and 165 crore respectively . The surprising thing is both of the loans approved in just 32 minutes , Legally which is almost impossible paper work which had done only for formality . Board of directors was unaware .As everyone gets the reward for their work RBI redflagged the fraud which was taking place inside the walls of companies . Now the Singh Brothers have to pay fine and had to wash hands from the brand promoters as well . Sleeve cap employees also been fired out of the company 
Now the question is this what is going on ?, The person which companies are trusting these persons are cheating with the company . This shows that ethics and principles are not present . As far As my opinion is concerned all which Singh brothers have done is completely wrong .If I was  at there place i never do that . For me my loyalty towards my organisation is  prior . Incidents of this type should not be there . My ethics and principles are the first thing for me . No matter what number of chances I m getting I will not cross the limits of my values . We all are the part of society whether it is corporate or not Almost every individual is interlinked with each other .  As per my consideration business is not an activity of one side it can be took place .It is right it is only for benefits but for own benefits we should not exploite others , no one should take the disadvantage from others . The essence is this every individual as well as a company should work with their own principles , values and ethics but should also bother about other’s . I have written this blog only to highlight the current business ethical issues and these ethical issues should be dislodged .  Thanks for read it out