Octopus and Privacy: Organization Ethics
Stand of Content
Background of the Company3
Background of the Issue5
Identification of Issue7
Evaluation of Issues8
Set of Reference12
Hong Kong features one of the most extremely successful e-purse programs, the Octopus card. The Octopus card, which usually began in the niche transport industry and extended facing outward to retailers, has been broadly adopted simply by consumers and a diverse range of merchants. More than 95 percent of Hong Kong's citizens aged 15 вЂ“ sixty-five carry the credit card. The Objective
Our purpose should be to develop a few insights by simply investigating the management issue of the Octopus card company. We might identify the issue and evaluate the problem through this paper. Last but not least, we would advise some recommendations to the corporation for improvement. The major issue is safeguarding the privacy of personal info, which continues to pose significant challenges for organizations. Since consumers are susceptible in their transactions with businesses due to an absence of information about and an incapability to control the subsequent use of all their personal information, we all argue that agencies have a moral responsibility to these individuals to avoid harmful and to take reasonable safeguards toward that end. Research Methods
We adopted the secondary info research to get conducting research as it is an effective way to search for information. We now have collected a lot of existing analysis result and data by published, just like, the newspapers clipping from online, article related and journals etc .
Qualifications of the Business
Octopus Cooperation Limited is known as a holding business based in Hong Kong jointly owned by five major transport companies (54. 4% by MTR Company, 22. 1% by the Kowloon-Canton Railway Corporation, 12. 4% by Kowloon Motor Bus, 5% by Citybus, and 3. 1% by " new world " First Shuttle bus. ) inside the city. It is subsidiaries, that are all totally owned, run the various functions of the Octopus card in both the commercial and noncommercial utilization. In 2006, the business gained worldwide recognition simply by winning the Chairman's Honor of the World Technology and Companies Alliance's 2006 Global IT Excellence Prize for the Octopus card system.
Octopus Holdings Limited was formed in 2005 after a company restructure of Octopus card operator Octopus Credit cards Limited. The Octopus card is used by simply card owners as an electric payment system, and therefore, the Octopus card system is considered a commercial business and is regulated by the Hong Kong Budgetary Authority. The non-commercial businesses of the organization, such as the client rewards plan, consumer researching the market, and investment holdings, on the other hand, are not subjected to such regulations. The company restructures placed Octopus Cards Limited as a additional of Octopus Holdings Limited, while the nonpayment businesses in the company were placed under other subsidiaries, so that its payment businesses are 3rd party of it is nonpayment businesses.
In addition , Octopus Holdings Limited in addition has expanded the use of the Octopus cards system internationally, operating the businesses outdoors Hong Kong within subsidiary.
Background from the Issue
Octopus cards are almost absolutely essential in Hong Kong. However , the scandal in the sales of a million Octopus cardholders' personal data may possibly erode assurance in Octopus Holdings. The Octopus card issuer was discovered to have contravened three info protection principles. It gathered more data than it needed to verify its customers' identities and sold all of them for money. It was identified that, within a period of eight years, it made HK$57. 9 mil by selling personal data to its business partners devoid of data subjects' consent.
In 2001, the executive management had an idea that was providing the personal information of credit cards holders intended for the commercial. During this yr, they...