a project manager of a well-established firm, you are required to analyse the case study below and prepare a managerial report for presentation to the senior management.
XYZ Corporation is a global technology company known for its cutting-edge software applications and secure data management systems. The company values its commitment to ethical conduct, data privacy, and information security. However, a recent incident has raised concerns about the ethical behaviour of one of its employees.
Wilson, a talented software engineer at XYZ Corporation, discovers a vulnerability in the company`s database system that could potentially compromise customer data. He realises that unauthorised individuals could exploit this vulnerability to gain access to sensitive information, including personal details, financial records, and proprietary business data.
Wilson faces an ethical dilemma regarding how to handle this discovery and is presented with two conflicting courses of action:
Option 1: Reporting the Vulnerability:
Wilson believes in transparency and upholding ethical standards. He considers reporting the vulnerability immediately to the company`s IT security team, which would enable them to take appropriate measures to fix the issue and protect customer data. This option aligns with his professional responsibilities and the company`s commitment to data privacy and security.
Option 2: Exploiting the Vulnerability:
On the other hand, Wilson realises that exploiting the vulnerability could provide him with unauthorised access to confidential data, potentially enabling him to gain an advantage or sell the information to third parties. This option presents personal gain but goes against ethical principles and violates company policies.
Discuss the following questions:
a) Identify and discuss the ethical issues involved in Wilson`s discovery of the vulnerability and his two potential courses of action.
b) Analyse the potential risks if Wilson chooses Option 2. You can present your answers in a risk register.
c) Identify and explain three best practices that XYZ Corporation should implement based on good corporate governance.