Subject: Team ManagementQuestion 1: Write a 400 word essay (APA format & 2 latest scholarly journal article references 2016 on words) Lesson 2 focuses on performance, productivity, and rewarding team

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Tit le :

A uth ors :

S ourc e:

D ocu m en t T y p e:

S ubje ct T e rm s:

A bstr a ct:

F ull T e xt W ord C ount:

IS SN :

Accessio n N um ber:

D ata b ase:

Record: 1

G DPR : c o m panie s a t r is k o ve r u nstr u ctu re d d ata .

Ja ckso n, O lly

I n te rn atio nal F in ancia l L aw R evie w . 7 /3 0/2 018, p N .P A G -N .P A G . 1 p. 1 C hart.

A rtic le

* D ATA p ro te ctio n la w s

*A C CESS to in fo rm atio n

*R IG HT o f p riv a cy

*G OVER NM EN T p olic y

R EC O RDS r e te ntio n la w s

LE G AL s ta tu s o f c o nsu m ers

C om panie s a re fa cin g p ote ntia lly h uge fin es o ve r th eir la ck o f r e te ntio n p olic ie s [A BSTR AC T F R O M

AU TH O R]

Copyrig ht o f In te rn atio nal F in ancia l L aw R evie w is th e p ro perty o f E uro m on ey In stit u tio nal In ve sto r P LC a nd

it s c o nte nt m ay n ot b e c o pie d o r e m aile d to m ult ip le s it e s o r p oste d to a lis ts e rv w it h out th e c o pyrig ht h old er's

e xp re ss w rit te n p erm is sio n. H ow eve r, u se rs m ay p rin t, d ow nlo ad, o r e m ail a rtic le s fo r in div id ual u se . T his

a bstr a ct m ay b e a brid ged. N o w arra nty is g iv e n a bout th e a ccu ra cy o f th e c o p y. U se rs s h ould r e fe r to th e

orig in al p ublis h ed v e rs io n o f th e m ate ria l fo r th e fu ll a bstr a ct. ( C opyrig ht a pplie s to a ll A bstr a cts .)

9 68

0262-6 969

131087814

B usin ess S ourc e P re m ie r

G DPR : c o m pan ie s a t r is k o ver u nstr u ctu re d d ata

C om panie s a re fa cin g p ote ntia lly h uge fin es o ve r th eir la ck o f r e te ntio n p olic ie s

M any c o m panie s a re a lr e ady a t r is k o f in fr in gin g th e G enera lD ata P ro te ctio n R egula tio n ( G DPR ) le ss th an tw o m onth s a fte r it c a m e in to

f o rc e .S m alle r b usin esse s, in p artic u la r, a re s tr u gglin g to c o n so lid ate u nstr u ctu re ddata a nd d on’t h ave c le ar o r d efin ed r e te ntio n p olic ie s in p la ce .

G DPR c o nsu lt a nt N eil A re m band s a id th at a lo t o f c o m pa nie sa re s tr u gglin g w it h u nstr u ctu re d d ata a nd th is b eco m es a p artic u la r p ro ble m beca use it

b eco m es d if f ic u lt to c o nso lid ate a ll o f it . 1/22/2020 UC MegaSearch

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"F or m any c o m panie s, r e te ntio n p olic ie s a re n ot d efin ed o rc le ar a nd h ave n ot b een c o m munic a te d e ff e ctiv e ly ,” h e s a id . “ D ata is a ls o s tillb ein g h eld

l o nger th an n ece ssa ry .”

C om panie s e it h er d on’t u nders ta nd o r a re s u rp ris e d b y th eam ou nt o f u nnece ssa ry d ata th ey h old , w hic h p ro vid es a b ig r is k a nd in cre ase sth e

ch ance s o f a d ata b re ach . O n th e d ay G DPR c a m e in to fo rc e , F ace b ook,G oogle , In sta gra m a nd W hats A pp w ere s u bje ct to c o m pla in ts file d to

t h eIn fo rm atio n C om mis sio ner’s O ff ic e ( IC O ) fr o m E uro pean c o n su m er r ig hts o rg anis a tio nN oyb .

“F ace book h as e ve n b lo cke d a cco unts o f u se rs w ho h ave n otg iv e n c o n se n t,” s a id N oyb c h air M ax S ch re m s. “ In th e e nd u se rs o nly h ad th ech oic e to

d ele te th e a cco unt o r h it th e a gre e b utto n – th at’s n ot a fr e ech o ic e , it ’s r e m in is ce nt o f a N orth K ore an e le ctio n p ro ce ss.”

"Retention policies are not

defined or clear and have not

been communicated ef fectively"

Fundam enta l te nets u nder G DPR a re th a t u se rs o r c u sto m ers m ust b e a ble to o pt o ut ju st a s e asily a s th ey c a n o pt in - if u se rs d o d ecid eto o pt o ut

th en th e s e rv ic e p ro vid ed m ust n ot b e a ff e cte d. Y et s o cia l m ed ia co m pa nie s a re s a id to b e d is crim in atin g a gain st u se rs th at d o n ot a gre e to

d ata sh arin g a nd e xclu din g th em if th ey d o n ot a gre e c o m ple te ly .

F ace book w as fin ed £ 500,0 00 ( $ 659,0 00 a ppro xim ate ly ) th is w ee k a fte r u se r d ata w as c o lle cte d fo r p olit ic a l p urp ose s b y C am brid geA naly tic a in

2 016. If a s im ila r o ff e nce w as c o m mit te d to day u nder th e G DPR re gim e, it is b elie ve d th e fin e c o uld b e 2 ,8 00 tim es th at fig ure a t £ 1.4 billio n – w it h

o ff e ndin g c o m panie s fin ed u p to fo ur p erc e n t o f th eir a nnualt u rn ove r. F ace b ook is r e porte d to m ake £ 500,0 00 in ju st 1 8 m in ute s.

K EY T A KEAW AY S

Alm osttw o m onth s a fte r G DPR c a m e in to fo rc e , m an y c o m pa nie s a re s tr u gglin g to co nso lid ate u nstr u ctu re d d ata a nd d o n ot h ave c le ar r e te ntio n

polic ie s in pla ce ;

S M Es a ls o do n ot h ave a c o rp ora te lis t r e g is te r to m it ig ate r is ks;

T ic ke tm aste rre porte d a b re ach la te la st m on th a nd th e c a se is c o n sid ere d a te st c a se fo rh ow th e r u le s a re to b e e nfo rc e d.

F ace book is a lm ost in evit a bly g oin g to b e o ne o f th e fir s tc o m pa nie s to b e a udit e d a nd a ny tr a nsg re ssio n w ould b e m ade p ublic q uic kly . A

p ublic it y p ush e xp osin g F ace book’s n ew fo und p assio n fo r d ata p ro te ctio n is o ngoin g a ndA re m band s a id th at th ey h ave tr ie d to b e a s c o m plia nt a s

possib le b ut h ave n otc o m munic a te d p riv a cy p olic ie s e nough s o th ey c o u ld in cre ase a w are ness.

Y et th ese p ro ble m s a re n ot r e se rv e d s o le ly fo r la rg eco n glo m era te s.

“S M Es d on’t te nd to h ave a c o rp ora te le ad r e gis te r, w hic h is a n e ff e ctiv e w ay o f m it ig atin g r is k,” h e s a id . “ T he fe ar is th at if th ey w ere audit e d,

re gula to rs c o uld fin d r is ks p re se nt.” 1/22/2020 UC MegaSearch

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Org anis a tio ns n eed to c o ntin uously u pda te a c o rp ora te lis tr e gis te r to m it ig ate a ny r is ks a nd s o m eone w it h in th e c o m pany n eeds to ta ke le ad o f th is .

W it h out th is , th e c h ance s o f a c o m pany g ettin g in to tr o uble in cre ase if th ey d o n ot h ave s tr o ng in te rn al p ro ce sse s. T here fo re th ey n eedso m eone to

c o nsta ntly c h eck a nd u pdate th e r e gis te r.

A s p art o f it s g uid ance , th e IC O s a id th a t c o m pa nie s s h o uld ca rry o ut d ata p ro te ctio n im pact a sse ssm ents fo r u se s o f p ers o nal d ata th at a re lik e ly to

r e su lt in h ig h r is k to in div id uals ’ in te re sts . It is a ls o r e co m mendedth at c o m pa nie s s ig n u p to c e rtif ic a tio n r e gim es.

C harle s O wen, d ir e cto r o f a lt e rn ativ e a sse ts p la tfo rm CoIn ve sto r, s a id th at s o m e c o m panie s a re n erv o us a bout s h arin g r e portin g d ata ,b ut th ese

n erv e s a re n ot ju stif ie d. In a p re vio us IF LR a rtic le h e s a id a lt e rn ativ e a sse ts c o m panie s w ould h ave th ebig gest p ro ble m c o m ply in g w it h G DPR

beca use tr a nsa ctio ns a re h eld o n p aper, b ute ve n th ough s o m e c o m pa nie s a re n ot c o m fo rta ble w it h s h arin g th is in fo rm atio n,h e h as s e en a c h ange.

“T here has b een a n in cre ase d u nders ta nd in g o f d ata p riv a cy a nd p ro duct p ro vid ers ,” h esa id . “ T hese c o m panie s h ave a m uch h ig her a ppre cia tio n o f

data a nd c o ntr a cts ,a nd a re m otiv a te d to th in k m ore a bout th eir p ro ce sse s. W e d efin it e ly h ave s e ena c h ange in d ata p riv a cy a nd it h as b eco m e v e ry

m uch p art o f th eir th in kin g.”

M uch of th e c o nfu sio n w ould b e a lle via te d b y u nders ta ndin g d ata s h a rin g p olic ie s a ndin te rp re tin g c o ntr a cts w it h a ll o f th eir c o unte rp artie s.

C om panie s m ust e nsu re th at a ll c o ntr a cts w it h e ach d ata h andle r is u pdate d a nd c o m plie s w it h G DPR ru le s, o fte n s e en a s th e m ost c h alle ngin g

asp ect o f th e r e gula tio ns.

L astm onth , T ic ke tm aste r r e porte d a d ata b re ach a ff e ctin g u p to 4 0,0 00 p eople , a fte ra m alw are a tta ck o n a th ir d -p arty v e ndor e nable d h acke rs to

a cce ss n am es,a ddre sse s, e m ail a ddre sse s, te le phone n um be r a nd c a rd d eta ils . T he r e sp onse fr o m th e r e gula to r w ill b e a b ig in dic a tio n in to h ow

th ese r u le s w ill b eenfo rc e d.

“T his is v e ry m uch a s e ttlin g d ow n p ro ce ss,” h e s a id . “ U ntil y o u s e e th e r e gula tio nsb it e , it is h ard to ju dge w heth er c o m panie s a re a head o r b ehin d

th em .”

T ic ke tm aste ra rg ues th at it d id c o m ply w it h G DPR , a nd e ve ry d ata b re ach d oes n ot n ece ssa rily a m ount to a fin e. G DPR b uild s n ew c o m plia nce

in fr a str u ctu re a ro und e xis tin gdata p ro te ctio n r u le s a nd c o m pa nie s c a n a vo id a fin e fo r a d ata b re ach pro vid in g th at th ey h ave r e porte d th e d ata

b re ach w it h in 7 2 h ours a nd th ey h ave co m ple te d s u ff ic ie nt p re para tio n to m in im is e th e c h ance o f a d ata b re ach .

“Itis n ot s o m uch a bout a lt e rin g th e c o re r u le s, lik e b ein g tr a nsp a re nt w it h people a bout w hat y o u a re d oin g, b ut r e in fo rc in g th e c u rre nt r u le s b y

re quir in gbusin esse s to b e a ble to d em onstr a te h ow th ey c o m ply ,” s a id R ic h a rd C um ble y, L in kla te rs p artn er.

T heT ic ke tm aste r c a se w ill p ro vid e p le nty o f c lu es fo r c o m pa nie s. T he fir s t s te pm any c o m panie s n eed to ta ke h ow eve r is im ple m entin g c le ar

re te ntio n p olic ie sa nd a c o rp ora te le ad r e gis te r b efo re a nyth in g e ls e .

S ee a ls o 1/22/2020 UC MegaSearch

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New e P riv a cyR egula tio ns w ill fo rc e G oog le a nd F ace b ook to c h a nge ta ct

G DPR : h ow best to s to re d ata

G DPR w illim pact U S M &A

~~~~~~~~

By O lly J a ckso n

c o py p rin t- o uts m ay b e m ade. N o fu rth er c o p yin g o r tr a nsm is sio n o f th is m ate ria l is a llo w ed w it h out th e e xp re ss p erm is sio n o f E uro m oney

In stit u tio nal In ve sto r P LC . S ourc e : In te rn a tio nal F in ancia l L aw R evie w a nd h ttp ://w ww.if lr .c o m .