DWI (The Legal and Ethical Environment of Business) - Essay Example

Recommendations to the DWI Board Being the Vise President of the Department of Risk Management of Diversified Worldwide Industries, it is my duty to have expertise in all the matters of business law and also to consult with corporate and outside counsel regarding the legal matters and further make provisions to advise the board as to the available options to minimize the risk and liabilities of the company. As for being a company, dealing with various areas, and communications being one of them, which includes in it, telecommunications audiovisual activities, internet, multimedia and publishing, it becomes obligatory to know and identify the risk involved in this industry.

The telecom service providers(1) would have been able to collect more money and reduce their losses if it would have been possible for them to know that which customer would pay the bills and which customer is going to ditch them. Therefore one of the basic needs of risk management is to study the attitude of the customers. Once the company knows as to how a customer behaves with his billing issue, it would be very clear as to how he would behave further. It has been observed that the telecom providers who use transaction -based risk management are able to focus their attention on the riskiest accounts thus assigning the appropriate treatment to all the calls that is required.

An advanced risk management technique has been devised which includes the following features:There should be an analysis of the complete set of data about the customer, the billing and the behavioral data. This will include all details about the calls and also the payment history and the customer service interactions.Higher degree of customer satisfaction should be provided.There should be certain codes made for the customers and they should be made aware about it so that their telephone is not misutilized.

As regarding the private and public law implications in this situation, it is advisable that first both the terms should be made very clear. The private law is that part of the system of law which includes in it the relationship between the individuals only like the law of contract or tort etc. whereas the public law includes in it interrelations between the general public and the state. Thus, whatever discussions take place between a customer and the company should be included in the legal brochure.

This, if questioned could be dealt with very easily as under the private law department. The customers' consent should be verified before providing them with the facilities being provided. There should not be any pressure given to them to use a definite product. Even the telecom regulatory authority should be provided with the details and the company should act according to the directions of the authority. If this is not taken care of then it will be a matter of public law. Thus for the company to have no more problems in the future it should concentrate on the proper data collection and it should be able to provide with valid proof to the customer if questioned.

Moreover it should provide the customers with the details properly and record all their data. The company should also not compel its customers to take an additional service if he doesn't require it. The customer's consent should be taken before providing him with any additional facility. By taking care of all theses policies it would become easier for the company to deal with the future problems regarding the customers. It would also save a lot from being spent on unnecessary investigations if the company would have its own well maintained data sheet. There (3) are two most important resources for the telecom operators, one being the network resource, and the other being the client resource.

But it is not at all unusual that security threats could destroy data reliability or network applicability resulting in the losing o data and network interruption. Thus it becomes necessary for the telecom operator to give attention to these as these are the basic foundations of procedure optimization and in the improvement of the management. Thus proper care should be taken to ensure the implementation of professional network security services and other security solutions.References1. May 2004, Telecom Risk Management, Fair Isaac Corporation www.fairisaac.com/NR/rdonlyres/A6C5DBD9-0D0D-4DD9-8850-C695F21A127B/0/TelecomRiskManagementWhitePaper.pdf2. July 2006, Private Law, http://en.wikipedia.org/wiki/Private_law3.

1999-2006, Miracles Everyday, Nfocus , Telecom,