After reviewing the case study as well as outside research I think that Target epically the Chief Executive Officer Gregg Steinhafel for the most part acted responsibility in the wake of their December 18, 2013 data breach that effected over 40 million customers financial information, as well as, the dissemination of personally identifiable information of upwards of 70 million customers.
The first thing that I want to discuss is simply a data breach. When this article was written in 2006 they stated that in the next three years that they expected that the income generate by fees charged by a bank for customers would increase by 14%(Valentine, 2006). That showed that debit cards were becoming far more popular, and that was good news for …show more content…
The first thing that I think Mr. Steinhafel and the rest of the upper management did right is that they did make the initial breach of the credit card and debit card information public but also the subsequent information about the breach involving the customers personally identifiable information even though it caused initial panic and distrust among the customers and general public it went along way in ensuring that the company was being as honest with the public as possible. That creates a feeling security in doing continued business with the corporation. Which tends to highlight the companies ethical and moral responsibility to its external shareholders, the customers. Another way that Target showed the same ethical and moral responsibility was the way in which they handled the breach after the fact, and that was to provide credit monitoring services, as well as, credit insurance to any customer that had visited a target store without question. This action also highlighted Mr. Steinhafel’s ability to use at least two of the big picture skills discussed in section 1.5 of the textbook. He was able to think conceptually, understanding that the trust of the public was paramount to the continued success of the company. This also highlights the use of the human skill, by showing that he understands that there is a human element to doing business and that as a company you have to have the public’s trust to continue in the business world. The least used skill was the technical skill, even though he did not ensure that his subordinate managers were using the security program correctly he did show that there was a need for the credit monitoring and insurance program by knowing that a simple apology was not going to be sufficient and that his customers would need protection. This also alleviated the extra work load on store employees and
The first thing that I want to discuss is simply a data breach. When this article was written in 2006 they stated that in the next three years that they expected that the income generate by fees charged by a bank for customers would increase by 14%(Valentine, 2006). That showed that debit cards were becoming far more popular, and that was good news for …show more content…
The first thing that I think Mr. Steinhafel and the rest of the upper management did right is that they did make the initial breach of the credit card and debit card information public but also the subsequent information about the breach involving the customers personally identifiable information even though it caused initial panic and distrust among the customers and general public it went along way in ensuring that the company was being as honest with the public as possible. That creates a feeling security in doing continued business with the corporation. Which tends to highlight the companies ethical and moral responsibility to its external shareholders, the customers. Another way that Target showed the same ethical and moral responsibility was the way in which they handled the breach after the fact, and that was to provide credit monitoring services, as well as, credit insurance to any customer that had visited a target store without question. This action also highlighted Mr. Steinhafel’s ability to use at least two of the big picture skills discussed in section 1.5 of the textbook. He was able to think conceptually, understanding that the trust of the public was paramount to the continued success of the company. This also highlights the use of the human skill, by showing that he understands that there is a human element to doing business and that as a company you have to have the public’s trust to continue in the business world. The least used skill was the technical skill, even though he did not ensure that his subordinate managers were using the security program correctly he did show that there was a need for the credit monitoring and insurance program by knowing that a simple apology was not going to be sufficient and that his customers would need protection. This also alleviated the extra work load on store employees and