Genesee Retail Corporation Code Of Ethics Essay

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One legal requirement for Genesee Retail Corporation (GRC) is following the professional codes of conduct. For example, there are business professional associations that have their own codes such as the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct, Chartered Financial Analyst (CFA) Institute Code of Ethics and Standards of Professional Conduct, American Marketing Association (AMA) Code of Ethics, and Association for Computing Machinery (ACM) Code of Ethics and Professional Conduct. GRC needs to follow this legal requirement appropriately or they will continue to face ethical problems like this situation they are in now. Their liabilities are financial and security. This means that if a customer’s financial…show more content…
Another option is to close GRC’s services until there is a solution, but this affects the employees because they will not be paid on time since their information might also be hacked. The ethical framework that applies to this situation would be the rights method. According to the UBE Ethics 1 powerpoint in MyCourses, the critical determining factor is respecting entitlements, and an action is ethical when basic human rights are respected. The situation in GRC definitely does not respect human rights because customers’ privacy is invaded. Also, the contractor was responsible for hackers stealing information, so the contractor did not do its duties appropriately to sell protected data. GRC needs to consider this ethical principle to address this problem since it’s important to protect everyone’s rights. The next step for GRC in alerting the public and withholding some information from the public would be similar to what Target and Sony announced. GRC could make special offers to customers to keep their business running and ensure customer loyalty to GRC. However, GRC should enclose their investigation with the source of their problem, the contractor, and who

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