L01 Flashcards
Define protocol
A rule or procedure that must be followed
Define authority protocol
procedure employees make in a business when communicating with shareholders, making payments or making decisions.
4 reasons why authority protocols take place
1)Allows senior figures to delegate tasks
2)Lowers risk of fraud
3)Allows procedure to be double checked
4) communicating with stakeholders
Define confidentiality protocols
Procedures put in place by an organisation to maintain confidentiality
What does ‘NDA’ stand for?
Non-disclosure agreement
What is a non-disclosure agreement?
A contract -> employees agrees to not share confidentality business information which is shared with them.
Give 4 factors on how organisational procedures can maintain confidentiality
1) BCC
2)office documentation limited access
3)IT security
4)’need to know’ basis
Give 2 ways confidental information is stored manually?
1) Lockable filling cabinet
2)Fire-proof filing cabinet
Give 2 ways confidental information is stored electronically?
1)Hard drives
2)cloud storage systems
Give 2 benefits to maintaining confidentiality
1) Prevents law suites
2)Maintains trust and reputation
Give 2 drawbacks to maintaining confidentality
1)cost
2)affects image - stakeholders prefer transparent business practices
Why is it important to the individual for a business to maintain confidentiality?
1) Prevent identify theft
2)To protect reputation
Why is it important to the organisation to maintain confidentiality?
1) To maintain a competitive advantage
2)To protect new project ideas
What are the implications of breaching confidentiality?
1) Loss of customers
2)Increase risk of fraud
3)loss of trust
What are 2 reasons why cpnfidentiality may need to be breached?
1)Duty of care
2)Evidence of danger or emergency