Ethics and Liability in Decision Making

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Questions and Answers

What does the deontology approach emphasize in moral decision making?

The opinions of the majority on moral issues

The outcomes of actions as the primary measure of morality

The societal impact of an action regardless of rules

The inherent rightness or wrongness of actions based on established rules (correct)

Which of the following best describes liability in an ethical context?

The moral obligation to correct a wrong action

A legal concept allowing recovery of damages from other parties (correct)

The general principle of acting ethically in business

The ability to hold someone accountable for their actions

Which ethical issue specifically involves concerns about access to information?

Accuracy

Privacy

Accessibility (correct)

Property

What must privacy rights be balanced against according to common legal interpretations?

The public's right to know and societal needs Signup and view all the answers

What is a significant consequence of the use of facial recognition technology?

Tracking and profiling individuals across various platforms Signup and view all the answers

What is the primary function of blockchain technology in relation to Bitcoin?

To act as a ledger tracking ownership of digital tokens Signup and view all the answers

Which of the following accurately describes the role of miners in blockchain?

Miners compete to add blocks through solving algorithms Signup and view all the answers

What is one major benefit of using fintech mobile apps for personal finance?

They help automate budgeting and loan finding Signup and view all the answers

What is a possible drawback of blockchain technology?

It can be susceptible to hacking attacks like 51-percent attacks Signup and view all the answers

What is the main purpose of online advertising compared to traditional methods?

To enable interactive communication with targeted audiences Signup and view all the answers

In supply chain management, how does blockchain technology improve transparency?

It allows real-time tracking of raw materials through every stage Signup and view all the answers

How do robo-advisers assist investors?

By generating asset allocation portfolios based on age and risk tolerance Signup and view all the answers

What is the primary difference between e-commerce and e-business?

E-business encompasses a wider scope including servicing customers and collaboration. Signup and view all the answers

What characterizes a full node in a blockchain network?

It maintains a complete copy of the blockchain ledger Signup and view all the answers

Which of the following best describes a clicks-and-mortar organization?

A business engaged in e-commerce activities, primarily in the physical world. Signup and view all the answers

What term is used to describe organizations that only engage in electronic commerce?

Virtual organizations Signup and view all the answers

What is a unique advantage of blockchain technology in the music industry?

It allows for automatic micropayments to artists per download Signup and view all the answers

Which type of e-commerce involves transactions exclusively between businesses?

Business-to-business (B2B) Signup and view all the answers

An example of partial e-commerce would be:

Buying a book from an online retailer with home delivery. Signup and view all the answers

Which type of electronic commerce is characterized by an individual selling goods or services to another individual?

Consumer-to-consumer (C2C) Signup and view all the answers

The degree of digitalization refers to:

The level to which commerce is transformed from physical to digital. Signup and view all the answers

What is channel conflict in e-tailing?

Tension between online sellers and their traditional distributors. Signup and view all the answers

What does multichannelling aim to achieve?

To integrate online and offline channels for a cohesive customer experience. Signup and view all the answers

What is the main challenge of order fulfillment in e-commerce?

Completing customer purchases quickly and efficiently. Signup and view all the answers

What does personalized pricing involve?

Pricing items according to a customer's perceived ability to pay. Signup and view all the answers

What is a key characteristic of the sell-side marketplace model?

It enables organizations to sell products or services electronically. Signup and view all the answers

What distinguishes the buy-side marketplace model?

It focuses on organizations procuring products or services electronically. Signup and view all the answers

What does the reverse auction method entail in the buy-side marketplace?

Buyers submit bids to suppliers to achieve lower prices. Signup and view all the answers

How are electronic marketplaces classified?

As vertical exchanges or horizontal exchanges depending on industry connection. Signup and view all the answers

What is a characteristic of the fair approach to ethics?

It treats all individuals equally or fairly based on a defendable standard. Signup and view all the answers

Which ethical approach emphasizes providing the greatest good and least harm?

Utilitarian approach Signup and view all the answers

What defines e-government?

The use of internet technology to provide services to citizens. Signup and view all the answers

Which of the following describes mobile commerce (m-commerce)?

E-commerce conducted entirely in a wireless environment. Signup and view all the answers

What is a forward auction?

An auction where sellers request bids from multiple buyers. Signup and view all the answers

What is the primary function of an electronic marketplace?

To serve as a central market space for multiple buyers and sellers. Signup and view all the answers

Which payment method is primarily used in B2B transactions?

Electronic cheques. Signup and view all the answers

What is the 'long tail' in e-commerce?

A strategy of selling a variety of niche products in small quantities. Signup and view all the answers

What does disintermediation in e-commerce refer to?

The automation of intermediary functions, making them less necessary. Signup and view all the answers

Which type of credit card is primarily used for consumer-to-business (B2C) transactions?

Electronic credit cards. Signup and view all the answers

What is the main focus of financial technology (fintech)?

To leverage technology to compete with traditional financial institutions. Signup and view all the answers

Study Notes

E-Business and E-Commerce Overview

E-commerce: Buying, selling, transferring, or exchanging products, services, or information through computer networks (including the internet).
E-business: Broader concept encompassing e-commerce, customer service, business partner collaborations, and internal transactions.
Digitalization Degree: The extent of transformation from physical to digital commerce. Products and delivery mechanisms can be either physical or digital.
Types of E-Commerce:
- B2C: Businesses sell to consumers.
- B2B: Businesses sell to other businesses.
- C2C: Individuals sell to other individuals (e.g., auctions, classified ads).
- B2E: Businesses use EC internally for employee services.
- E-government: Use of internet technology to provide public services.
- M-commerce: E-commerce conducted entirely in a wireless environment.
- Social commerce: E-commerce through social computing.
- Conversational commerce: E-commerce using natural language processing for conversations.

E-Commerce Mechanisms

Electronic Catalogues: Product databases, directories, search capabilities, and presentation functions.
Electronic Auctions: Competitive bidding processes, increasing seller revenues.
- Forward auctions: Sellers solicit bids.
- Reverse auctions: Buyers solicit bids.
Electronic Storefronts: Websites representing single stores.
Electronic Malls: Collections of individual shops under one address.
Electronic Marketplaces: Centralized virtual marketplaces for multiple buyers and sellers.

Electronic Payment Mechanisms

Electronic Cheques: Similar to paper cheques but electronically transmitted.
Electronic Credit/Debit Cards: Used for online payments.
Purchasing Cards: B2B equivalent to electronic credit cards.
Stored-Value Money Cards: Prepaid cards for spending.
EMV Smart Cards: Chip-based cards with magnetic stripes for secure transactions.

B2C E-Commerce

Electronic Retailing (E-tailing): Direct sale of products/services through storefronts/malls.
The Long Tail: Selling a large number of unique items in small quantities.
Disintermediation: Removal of intermediaries (middlemen) due to automated systems or efficient platforms.
Online Service Industries: Impacts on intermediaries: some functions eliminated, others supported.
Fintech: Industry using technology to compete with traditional financial institutions (lending, trading, investing, personal finance, funding, mobile banking, internet banking, online securities trading).

Blockchain Technology

Blockchain: Decentralized, distributed, encrypted, secure, and tamper-proof digital ledger.
- Transactions: Bundled into blocks linked to previous blocks.
- Nodes: Computers supporting the network.
- Full nodes: Full copies of the blockchain.
- Lightweight nodes: Partial copies of the blockchain.
- Miners: Create blocks by solving PoW algorithms. Rewarded with Bitcoin and fees.
Bitcoin: Digital currency built on blockchain technology.

Supply Chains and Online Advertising

Blockchain in Supply Chains: Enhanced transparency and tracking of materials and goods.
Online Advertising: Media-rich, dynamic, and interactive methods for influencing transactions.
E-Tailing Issues:
- Channel conflict Tension between online and traditional sales channels.
- Multi-channeling Integrating online and offline channels for a cohesive experience.
- Showrooming Customers exploring in-store, purchasing online.
- Order fulfillment Managing tasks from order placement to delivery and returns.
- Personalized pricing Adjusting prices based on customer perceived ability to pay.
Types of advertising (banner, pop-up, pop-under, spamming, permission marketing, viral marketing)

B2B E-Commerce

Sell-side marketplaces: Businesses sell electronically to other businesses.
Buy-side marketplaces: Businesses procure products/services electronically.
E-procurement: Using electronic tools for procurement.
Group purchasing Combining orders for larger volume discounts.
Electronic Exchanges (Public Exchanges): Independent marketplaces connecting numerous sellers and buyers.
- Vertical exchanges: Focus on a specific industry.
- Horizontal exchanges: Connect buyers/sellers across industries.

Ethics and Privacy

Ethics: Principles of right and wrong guiding behavior.
Ethical approaches: Utilitarian, Rights, Fairness, Common Good, Deontology
Ethics in the corporate environment (responsibility, accountability, liability: legal concepts)
Ethical issues in information technology
- Privacy (Information privacy, right to be left alone)
- Accuracy (Authenticity, fidelity, correctness)
- Property (Ownership, value)
- Accessibility (Access rights, fees, information access)
Electronic surveillance (cameras, sensors, face recognition, drones)
Personal information in databases (storage and use concerns).
Information about individuals on internet sites (electronic bulletin boards, newsgroups, social networking sites, managing offensive/false content).
Privacy policies and informed consent (opt-out, opt-in, privacy protocols),

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Description

This quiz covers key concepts in ethics, focusing on deontological approaches to moral decision-making and the implications of liability in ethical contexts. It also explores privacy rights, access to information, and the consequences of facial recognition technology. Test your knowledge on these important ethical issues.