Business Roundtable Mission Flips from Shareholder Capitalism to Social Good
…performance-based pay of middle- and lower-level workers. Both can result from employees’ feeling that value creation is allocated unfairly within the firm,” write the HBR et al researchers.
In any case, many fear the letter is too broad a request to represent a true change of heart among corporations.
“The letter requests a federal data protection law without giving any specifics as to what that law might contain. Treat this with a healthy dose of skepticism,” said Paul Bischoff, privacy advocate with Comparitech.
For one reason, Bischoff said, some of the very same executives who signed the letter work at companies that previously lobbied against pro-consumer privacy regulations.
“Comcast and AT&T for example, were both in favor of repealing broadband privacy in 2017. I think this is more of an attempt to make doing business easier by creating a uniform set of regulations across all states, and less of an attempt to protect consumers. It’s also worth noting the companies that aren’t on the list, including Microsoft, Google, Facebook, and Apple,” Bischoff said.
Nonetheless, security partners may see this development as a prime, new opportunity. If corporations are now broadening their focus to any degree, the door is open for enterprising partners to suggest new products and services to help get them to the new goal post. A good start might be in intertwining data privacy with data security in terms of policy and technology choices. By proactively crafting best practices in data privacy, overly restrictive regulations can likely be avoided, and the brand value can also be extended.
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