You may or may not have noticed that Facebook has been in the headlines for all the wrong reasons. It’s at the center of a massive data scandal, with the company admitting that millions of its users have had their data shared against their will, without them even knowing about it. Billionaire genius Mark Zuckerberg has appeared in court, with many gifs and videos shared online of him looking remarkably awful.
This is how the TRIAL of Mark Zuckerberg , the facebook -owner, went before the Congressional Investigating Committee….
Completely exposing facebook’s illegal rackets world wide….
Just watch the video…. pic.twitter.com/ShlusULgp0
— Shivendra K Sinha (@ShivendraKSinh1) April 19, 2018
Aside from the outrage, you should be feeling as a Facebook user, there are some very important lessons to learn from a business perspective. If you own a company, then here are some key things to take away from this scandal:
Take Client Data Seriously
The main thing to learn is that you need to take data seriously when you run a business. This means that all the data you keep on record should be looked after and kept safe. The last thing you want is a breach, meaning data loss prevention needs to be a top priority. Not only that but the way in which you hold your client’s data – and what you do with it – needs to be very clear-cut. If you share their data, you need their consent. Otherwise, you could end up embroiled in a scandal like this, but without billions of dollars behind you to help pay for a top lawyer.
Reputations Can Be Damaged In An Instant
It’s fair to say that the Facebook scandal is a prime example of when reputations can be crushed and destroyed in an instant. A company can take years building a brand that people know and trust, but one incident can destroy all of that in a matter of days. Many users have taken to deleting their accounts and boycotting Facebook because of what’s happened. The beautiful irony is that we know this is happening because people are tweeting about it. That’s right, they’re using Facebook’s social media rival to talk about them leaving Facebook. So, always tread carefully and be wary that your business reputation can come crashing down in an instant.
Honesty Is The Best Policy
Last but not least; your business should understand that honesty is the best policy. No matter what industry you work in, what you sell, or who your clients are; always be honest. This doesn’t just apply to data, it applies to all aspects of your business. At the end of the day, dishonesty always gets found out. We’ve seen this happen with loads of companies before, and we’ll probably see it happen to loads after this as well. Big corporations try lying to the consumer, but it never ends up going well.
The good news about this Facebook scandal is that it’s allowed businesses to learn valuable lessons like the ones mentioned above. What does the future hold for this company? Things are tough right now, they’ll probably lose a fair bit of cash, but they’ll undoubtedly end up bouncing back. Massive businesses always come back, but it’s not always the same for small ones like yours.