Wilma Inventor Miranda l August 28, 2024 l Business Mirror
The FINEX webinar we organized through the Ethics Committee last August 6, 2024 with our Resource Speaker Atty. Edsel Tupaz was not only informative but tackled a topic which has become urgent due to the fast growth and use of social media applications.
I should say that the regulations imposed by certain regulating agencies, if any, has become more of a “firefighter” type now. It is more of a reactive type of approach rather proactive although in some areas it can be a proactive tool in preventing unethical use. The webinar however, was very helpful in terms of making the public aware of the pros and cons of the use of these applications such as how to protect one’s privacy.
The presentation of our Speaker had stirred up the need to address the problems soon before it becomes worse and with the speed that technology and social media in particular evolves, the stop-gaps and most important, the solutions should also evolve and enhanced.
Anyway, we are here in this stage where most if not all had bad experiences or witness improper use of these social media applications. And it is not too late to make people be aware of the problems (which certainly, most had been aware already) and find ways to prevent if not minimize the vast widespread of cybercrimes, fake news and other unethical use of these applications.
The discussion of Atty. Edsel Tupaz on this topic was a balanced one. He did not only discuss the negative side but also the positive use of social media.
We must admit that social media has several benefits to the users too, such as being an information source, as a networking tool and reputation builder tool. But some people misuse it by spreading fake information, online harassment, unauthorized use of data and breach of privacy, use of AI to spread fake information or profile and online fraud.
What is interesting is when the Speaker showed the graph on the top social media applications being used in the Philippines based on Digital Reportal 2024 Overview Report. It shows that Facebook tops the list followed by Tiktok.
And I commented as the Moderator during the webinar citing a poll survey shown in an article in big-village.com dated December 7, 2021 “How Ethical are Social Media Companies”, where it shows that Facebook and TikTok also are at the top of the list of net negative ethical scores while LinkedIn, Pinterest and YouTube topping the net positive ethical scores.
Facebook has several benefits provided to the public because aside from the fact that it has vast network of users and thus, is useful as an information source and networking tool, it also brought together individuals with shared interests from different locations in the world resulting to a formation of diverse online communities and such other benefits.
However, it is also alarming on the increasing rate of hacking incidents of personal profile being used with profile information that must have been stolen from another Facebook user, the controversial use of Cambridge Analytica of the users data, the proliferation of fake accounts and even online harassment.
Tiktok on the other hand, became popular by its unique short-form video format, easy-to-use editing tools, and engaging content. But it is a shock for most of us when we see and listen to fake news not only political misinformation but personal misinformation especially about popular figures. There is also the fear of China using this application to access users data especially in the U.S.
One important thing we are reminded during the webinar and a good reminder for all executives and business owners is to set company policies on the use of social media by its officers and employees. The Speaker shows a sample of such company policy where it states and I will just paraphrase, that any social media activity even from employees account can reflect on the
Company and can have an impact (positive or negative) on the brand of the Company. Thus, everyone should be careful on what to post, share, comment or even likes and evaluate the impact it will have on the reputation of the organization they are working for.
There were more information we learned from the webinar and I hope all participants were able to take advantage and make use of the information presented to us.
We are also glad that with such webinar we had accomplished the goal of our Ethics Committee in promoting awareness of the pros and cons of the use of social media and how we can be responsible users of these applications.
*** (Wilma Miranda is the 2024 Chair of FINEX Ethics Committee, Managing Partner of Inventor, Miranda & Associates, CPAs, Member – Board of Directors Member of KPS Outsourcing Inc. The views expressed herein do not necessarily reflect the opinion of these institutions.) Photo from FINEX