Nestler and Egloff undertook two studies that considered the interaction between the threat level of safety messaging and the effect of those threats on individuals. In their first study, carried out in 2010, they explored the effectiveness of threat appeals in health and safety messages when delivered to those who are cognitively avoidant.
The study first tested participants to measure their cognitive traits and rated them as having high or low cognitive avoidance. Participants were then provided with two safety messages from fake news reports that linked caffeine consumption to a fictitious gastrointestinal disease called ‘xyelinenteritis’ and recommended that people should reduce their caffeine intake in response to this threat. The first version of the news report was a high-threat message as it linked xyelinenteritis to cancer and stated that the participant’s age group was particularly at risk. The second version of the news report was a low-threat message and did not include links to cancer or age group vulnerability. Once the participants had read the articles they were asked to rate their attitudes on reducing their caffeine consumption.
The results showed that when participants were presented with a high-threat message, those who had low cognitive avoidance were more likely to reduce caffeine intake than those who had high cognitive avoidance. Individuals who had high cognitive avoidance had judged the high-threat appeal to be less severe than the low-threat appeal and were less likely to reduce caffeine consumption.
Importantly, the highly cognitive avoidant participants were also more responsive to the low-threat appeals than participants with low cognitive avoidance. This result can be explained by the fact that people who are highly cognitive avoidant minimise threats as a coping mechanism and consequently will not be persuaded by a threat appeal’s recommendation. Therefore, for people who are cognitively avoidant, frightening health messages are, according to this 2010 study, counter-productive. Constantly repeating the same message (‘Be safe or die’) loses impact very quickly.
New threat levels
In a subsequent study (2012), Nestler and Egloff varied not only the threat level, but also the efficacy level of the recommended action (how able the participant felt to effect a change in behaviour). This study demonstrated the effect of efficacy in health and safety messages when delivered to those who are cognitively avoidant.
Four versions of the fictitious news reports that linked caffeine consumption and an invented gastrointestinal disease were produced. Two high-threat versions linked xyelinenteritis to cancer and stated that the participant’s age group was particularly at risk, while the two low-threat messages omitted this information. The two high-efficacy versions recommended that a reduction in caffeine would result in a reduction of risk in contracting xyelinenteritis to a 15% likelihood, while the low-efficacy version recommended that even if caffeine consumption was reduced, the participant still had a 75% risk of contracting xyelinenteritis.
Results showed cognitive avoidance did not affect intention to change behaviour when the proposed action was ineffective. In low-efficacy conditions, all participants presented with a low-threat appeal were not motivated to adopt the recommended actions. When presented with a high-threat appeal, low cognitive avoidant participants engaged with the proposed solution, albeit to a lesser degree, whereas highly cognitive avoidant participants curtailed the processing of the threat and did not engage in the solution.
However, when the proposed action was effective, in high-efficacy conditions, low cognitive avoidant participants engaged with the proposed solution and were likely to change their behaviour, whereas highly cognitive avoidant participants curtailed the processing of the threat and judged the threat to be less severe. As expected, the results showed that all participants were more likely to adopt a recommended action if presented with a high-efficacy solution. However, results also showed that highly cognitive avoidant individuals will not change their behaviour, regardless of a solution’s efficacy.
Beyond scaremongering
Those who champion scare tactics as a form of safety message often believe that such appeals will be successful if they contain a serious threat but also provide an effective means of avoiding it. Nestler and Egloff’s studies demonstrate that this is incorrect as not all people will respond to such a message in the same way. Instead of giving all individuals the same threat communications, messages should be individualised.
Business leaders like to see tangible data, positive outcomes and solutions-driven approaches. The furore of negative press coverage, threat to share price and impact upon employees are all far more realistic consequences of a safety incident than prison time. An educated director is likely to know already that the HSE prosecutes few individuals but may not have thought about the wider context of a serious incident. Indeed, research on the effects of message repetition suggested an inverted U-shaped relationship between the number of message repetitions and the attitude towards the message content (Reinhard et at, 2014).
Such ramifications can be explained without scaremongering, and in our experience the rise in corporate accountability lends itself to a more sensible, logical approach of setting out such messages within the realities of the current economic and regulatory climate.
Safety messaging is essential for frontline workers too. It is common to find that long-standing employees who have done the same job for many years are more resistant to change – even where this is essential to protect their own health and safety. Complacency often sets in and, alongside it, high cognitive avoidance. Again, measured conversations about potential impact, examples of positive outcomes or seeking to positively engage individuals through awards and recognition for good safety behaviour will, in our experience, have far greater impact.
Paul Verrico is global head of Eversheds Sutherland’s EHS practice; Catherine Henney heads the Manchester H&S team
The internet has ushered in a myriad of innovations, with cryptocurrency standing out as a revolutionary financial instrument. Bitcoin, the pioneer of this movement, has transcended its initial obscurity to become a household name.
As traditional financial systems grapple with challenges, from economic downturns to inflation, cryptocurrencies offer a resilient alternative. By understanding and integrating Bitcoin and its counterparts, businesses can position themselves at the forefront of this financial evolution, ensuring sustainability and competitive advantage.
How Cryptocurrencies Facilitate Global Transactions
In the globalised business environment, seamless cross-border transactions are crucial. Traditional banking systems, with their cumbersome processes and high fees, often hinder the fluidity required for international trade. Enter cryptocurrencies. Bitcoin and its peers have revolutionised the way businesses transact globally. With instantaneous transfers, minimal transaction fees, and no need for currency conversions, cryptocurrencies eliminate many pain points associated with international payments.
For UK businesses expanding overseas or dealing with international suppliers, this means faster payment processing, reduced operational costs, and enhanced cash flow management. Moreover, with the decentralised nature of cryptocurrencies, businesses can bypass intermediaries, ensuring direct and transparent transactions. As the world becomes more interconnected, the agility and efficiency offered by cryptocurrencies will be indispensable for businesses aiming to maintain a competitive edge in the international market.
Knowledge Is Growth
In the world of cryptocurrencies, staying updated is not just beneficial—it’s essential. For businesses in the UK, the Bitcoin landscape is constantly evolving, influenced by regulatory changes, technological advancements, and market sentiments. By actively monitoring Bitcoin news and developments, companies can make informed decisions, capitalising on opportunities and mitigating potential risks.
Bitcoinst has all the latest Bitcoin (BTC) news and can keep you up to date with all the developments in this rapidly evolving arena. For informed articles on Bitcoin news today, check out their site.
Whether it’s adapting to new compliance standards, leveraging technological innovations, or understanding market trends, a proactive approach ensures businesses remain competitive. With the UK’s position as a global financial hub, local developments can have ripple effects worldwide. Engaging with reputable news sources, participating in industry forums, and even considering dedicated in-house teams for crypto research can be invaluable. In essence, in the fast-paced realm of Bitcoin, knowledge is power, and staying ahead of the curve is the key to harnessing its full potential for business growth.
Building Trust With Blockchain Technology
Blockchain, the backbone of Bitcoin, is more than just a digital ledger; it’s a testament to the power of decentralisation and transparency. For UK businesses, integrating blockchain technology goes beyond cryptocurrency transactions. It offers a robust platform for enhancing trust among stakeholders, be it customers, partners, or investors. Every transaction on the blockchain is immutable and transparent, ensuring unparalleled levels of accountability. This transparency fosters trust, a crucial commodity in today’s business landscape.
Blockchain’s decentralised nature significantly reduces the risk of data breaches, ensuring enhanced security for sensitive business information. For sectors like supply chain, finance, and real estate, blockchain can revolutionise operations, offering traceability and reducing fraud. As consumers and partners increasingly demand transparency and security, UK businesses that leverage blockchain’s capabilities not only meet these demands but also position themselves as pioneers in adopting next-generation technologies.
Cryptocurrencies And Environmental Impact
The rise of cryptocurrencies, particularly Bitcoin, has ignited discussions about their environmental footprint. Mining processes, especially for Bitcoin, can be energy-intensive, leading to concerns about their sustainability. For UK businesses, this presents both a challenge and an opportunity. As companies strive for greener operations and corporate social responsibility, it’s essential to consider the environmental implications of their crypto engagements. By opting for more energy-efficient cryptocurrencies or supporting green mining initiatives, businesses can align their crypto strategies with sustainability goals.
Blockchain, the technology underpinning cryptocurrencies, offers solutions for environmental conservation, from tracking carbon emissions to ensuring ethical sourcing in supply chains. By championing these sustainable applications of blockchain, UK businesses can showcase their commitment to environmental stewardship. In an era where consumers and stakeholders value sustainability, integrating eco-friendly crypto practices can enhance a company’s reputation and foster trust in the brand.
Bitcoin As A Hedge Against Inflation
Inflation, the silent eroder of purchasing power, has become a pressing concern, especially with the UK witnessing a rate four times higher than the Bank’s target at 7.9%. In such turbulent economic times, businesses are seeking robust strategies to safeguard their assets. Bitcoin emerges as a compelling solution. Historically, Bitcoin’s value has shown resilience against inflationary pressures, often appreciating when traditional currencies devalue. Its limited supply and decentralised nature make it less susceptible to government monetary policies, positioning it as a digital equivalent of gold.
For UK businesses, investing in Bitcoin can serve as a hedge, preserving capital and potentially offering returns in an inflationary environment. As traditional financial instruments become more volatile, diversifying with Bitcoin can provide stability and growth potential. By understanding and leveraging Bitcoin’s anti-inflationary properties, businesses can navigate economic challenges with confidence and foresight.
The Regulatory Landscape
As the prominence of Bitcoin and other cryptocurrencies grows, so does the scrutiny from regulatory bodies. For UK businesses, understanding the evolving legal landscape surrounding cryptocurrencies is paramount. The UK’s approach to crypto regulation aims to strike a balance between fostering innovation and ensuring consumer protection. Businesses must be aware of compliance requirements, from anti-money laundering (AML) protocols to tax implications.
Engaging with legal experts who specialise in crypto regulations can provide clarity and ensure that businesses operate within the legal framework. Staying updated with the Financial Conduct Authority’s (FCA) guidelines can offer insights into the direction of future regulations. As the UK continues to shape its stance on cryptocurrencies, proactive engagement with regulatory developments will empower businesses to leverage crypto opportunities while mitigating legal risks. In this dynamic environment, informed decision-making and adaptability will be key to thriving in the crypto ecosystem.
The crypto revolution is reshaping the business landscape, offering unprecedented opportunities for growth, innovation, and competitive advantage. For UK businesses, embracing cryptocurrencies and their underlying technologies is not just a trend but a strategic imperative.
By understanding the multifaceted benefits of Bitcoin and other digital assets, from hedging against inflation to enhancing operational transparency, companies can navigate the challenges of the modern economy. As we venture deeper into the crypto era, businesses that adapt, innovate, and integrate these digital tools will not only thrive but also lead the way in this transformative financial journey.
As the world’s leaders gather in New Delhi, it is clear that India’s G20 presidency will be remembered as a historic pivot in global governance. The 2023 G20 slogan — “Vasudhaiva Kutumbakam” or “The world is one family” — exemplifies a typical Indian melding of tradition and contemporary concerns.
For a G20 summit that is about reviving, reforming, and defending globalisation, vasudhaiva kutumbakam has taken on a meaning beyond hospitality to visitors from across the world. Translated into the rallying cry of “One Earth, One Family, One Future”, it emphasises the interconnection of cultures across geographies, and, as in families, reminds us of our obligation to those left behind, those yet to benefit from globalisation.
Of the many priorities India is taking forward in its stewardship of the G20, three serve to illustrate how the concerns of the Global South have come to occupy centre stage. The first principle is the democratisation and decentralisation of the global economy. “One Earth, One Family, One Future” should be seen especially in the backdrop of recent geo-economic developments that threaten our interconnected futures. Muscular industrial policy has staged a return in geographies that were once the strongest votaries of globalisation.
The United States has passed an Inflation Reduction Act that, in its specifics and motivations, looks little different from the nativist “Make America Great Again” agenda that preceded it. The European Union is girding to introduce a carbon border tax. At best, the rest of the world sees this as an attempt to regulate external markets on European principles. At worst, it looks like open protectionism of a sort the EU has historically attacked when it comes from much poorer countries. Correcting this drift away from the pure principles of globalisation — in which all benefit, but the poor benefit the most — is a priority for the developing world.
The second is reform and restoration of global finance. Since the 2008 crisis, financial globalisation has ceased to operate properly. The purpose of finance is to take savings and deploy them in projects, sectors, and geographies where they will garner the greatest returns. Where are those projects, sectors, and geographies today? As various agencies including the International Monetary Fund estimate, over three-fourths of global growth in the coming years will be in emerging economies.
International finance is, however, still focused on serving the old trans-Atlantic geographies. Wealth creation has been disconnected from growth creation. A financial sector that indulges merely in the perverse redistribution of wealth within societies rather than in enabling global growth that raises all boats is simply unfit for purpose. This G20, under India’s presidency, and those that follow, will aim to fix development and infrastructure finance so that capital can flow to the places where it can best stimulate growth — benefiting all of us, across the world.
Third, and most important, India has changed the tone and texture of the G20. What was once a summit meant merely for technocrats and policy wonks has become a people’s festival. The people’s G20 has a purpose: To amplify the issues that matter to the billions who have been, for too long, ignored by those technocrats and wonks. Dialogue on urgent issues — food, health, jobs, adaptation to climate change — has brought hundreds of millions of Indians, and billions beyond our shores, into the ambit of the global governance discussion. From now on, every presidency will include such perspectives, regions and demographics. India’s proud contribution to the G20 is a diversity that will shake the tree of global governance.
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In the past, G20 summits have been remembered for activists outside the venues, protesting against the idea of global governance itself. There is always a place for dissent. India, as a vibrant democracy, knows this better than anyone. But the only answer to such activism is the creation of a wider group that can argue against it. The people’s G20 correctly recognises that democratised global governance and a reformed globalisation can enthuse a wider group, and thereby answer the concerns of those activists who sought to disrupt previous G20s. The warm embrace given to the G20 in India by Opposition-run state governments and marginalised groups is an indicator that there is nothing political or partisan about this hope. India has found a wider, deeper and more expansive response to the malaise of global governance.
This historic turn towards the Global South marked by India’s G20 has begun to redress decades of reductionism. The Global South is no longer a pejorative. India’s G20 has reclaimed this description and shown that our self-image is of a group seeking green growth, tech-first growth, women-led growth, and inclusive growth. Scholarship from richer countries may have been dismissive of the developing world and its aspirations. But today the Global South is seen as wanting more than just handouts. India’s vibrant scholar community, India’s deft diplomacy and, indeed, India’s warm hospitality have reclaimed our identity. For the first time, the Global South is the pathfinder for a greener, digital and equitable growth. This is the developmental legacy of the people’s G20, and of India’s presidency.
The writer is President, ORF and Chair of the Think 20 secretariat during India’s presidency of the G20
The Sixth Asean Inclusive Business Summit, hosted by Indonesia, emphasised the importance of establishing a conducive environment for micro, small and medium enterprises (MSMEs) and for large businesses to adopt inclusive business (IB) models that contribute to inclusive and sustainable development in the region.
With the theme “Incentivising Businesses for Inclusive Growth,” the summit focused on the significance of multi-stakeholder partnerships in building an IB ecosystem in Asean through enabling policies, from accreditation, coaching, to innovative financing schemes.
Minister of Cooperatives and SMEs of the Republic of Indonesia Teten Masduki appreciated Asean’s efforts in strengthening regional commitment to inclusive business through the convening of the first High-Level Ministerial Meeting on Inclusive Business. He stated, “The High-Level Ministerial Meeting on Inclusive Business is a historic event for Asean as it brings together ministers dealing with MSMEs to exchange views and reaffirm our commitment to driving inclusive and sustainable business practices in Asean.”
During the summit, Asean scaled up its commitment to IB by hosting the inaugural High-Level Ministerial Meeting for Ministers responsible for MSME development in Asean Member States (AMS). At this meeting, AMS exchanged good practices to promote the adoption of IB models and adopted the “Declaration on Promoting Inclusive Business Models : Empowering Micro, Small and Medium Enterprises for Equitable Growth”.
Through the statement, AMS recognised the important role MSMEs play in driving economic growth, fostering innovation, generating employment, and reducing poverty as well as the contribution of large businesses in driving productivity and stimulating income-generation activities. They also acknowledged the potential of the IB model in achieving economic, commercial, and social objectives.
Guiding this high-level commitment is the Plan of Action for the Promotion of Inclusive Business in Asean (2023-2027), which was endorsed by the Asean Economic Ministers during the 55th Asean Economic Ministers’ Meeting on 17 August in Semarang, Indonesia.
The Plan of Action will focus on four priority areas, namely, strengthening policy advisory support for AMS to develop and adopt policies and strategies to promote IB; supporting businesses in developing and integrating inclusive and sustainable business models through coaching services to develop IB models and linking MSMEs to larger companies; establishment of financial vehicles to pilot innovative financing instruments to provide access to finance for inclusive businesses; and establishing an Asean IB knowledge hub to generate awareness and share information and resources on IB.
Dr Le Quang Lan, Director of Market Integration of the Asean Secretariat, on behalf of the Secretary-General of Asean Dr Kao Kim Hourn, welcomed the timely endorsement of the Plan of Action as Asean prepares for the transformative forces that are reshaping the global economic landscape. He further offered recommendations vis-à-vis the implementation of the Plan of Action, to promote inclusivity in Asean’s approach in addressing its key priorities, namely, digitalisation, green economy and supply chain resiliency.
In collaboration with the Asean Business Advisory Council, Asean presented the Asean Inclusive Business Awards to ten businesses to showcase exemplary inclusive business models from businesses across all the AMS.
“Inclusive businesses are different from business-as-usual as they put people and planet alongside profit, and are therefore, a critical accelerator if we are to get back on track on the SDGs. ESCAP is committed to move inclusive businesses from the margins to the mainstream,” said Armida Salsiah Alisjahbana, Under-Secretary-General of the United Nations and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP).
“The Asean Region – with its ambitious development agenda, integration in global value chains, and strong economic fundamentals – will benefit from inclusive business models,” said OECD Secretary-General Mathias Cormann. “The OECD continues to provide policy analysis and advice on best practices to support inclusive businesses and policymakers in Asean in putting these tools into practice. Looking ahead, the OECD stands ready to build further on our strong cooperation and support the development of an Asean Knowledge Hub to advance the Plan of Action.”
On the importance of businesses and sustainable development, Dio Herdiawan Tobing, Head of Public Policy for Asia at the World Benchmarking Alliance, appreciated Asean for prioritising businesses as drivers of inclusive and sustainable growth. He stated, “Asean has established a compelling demonstration of how corporate accountability measures can effectively contribute to transformative changes for sustainable development.”
Indonesia, as the Asean Chair for 2023, hosted the summit, which was co-organised by the Ministry of Cooperatives of SMEs in Indonesia, ESCAP, OECD, and Asean Secretariat, and supported by the World Benchmarking Alliance and Oxfam.
The summit welcomed government and private sector representatives from Asean and beyond, as well as investors and development organisations.The summit is an annual activity of the Asean Coordinating Committee on Micro, Small, and Medium Enterprises, the sectoral body under the Asean Economic Community pillar responsible for coordinating MSME development in the region, contributing to the implementation of the Asean Strategic Action Plan for SME Development 2016-2025. Incoming Asean chairLao PDR announced that the Seventh Asean IB Summit will be organised in 2024.
HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Sage Therapeutics (SAGE) Investors with Substantial Losses to Contact Firm’s Attorneys, Firm Investigating Possible Securities Law Violations – Corporate Social Responsibility News Today – EIN Presswire
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This article was first published on Dr. Craig Wright’s blog, and we republished with permission from the author. Read Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8, Part 9, Part 10, Part 11, Part 12, Part 13, Part 14, Part 15, Part 16, Part 17, Part 18, Part 19, Part 20, Part 21, and Part 22.
The articles presented in this annotated bibliography demonstrate a comprehensive argument regarding the impact of deception and misinformation in various domains, including business strategy, marketing, and digital environments. For example, Chelliah and Swamy (2018) highlight deception and lies in business strategy, emphasizing the short-term advantages they may offer but also the detrimental long-term consequences, such as damage to reputation and loss of trust. Conte de Leon et al. (2017) explore the properties and misconceptions of blockchain technology, discussing its potential application in combating digital deception. They suggest that the blockchain’s transparency and immutability can enhance the credibility and verifiability of information.
Di Domenico and Visentin (2020) focus on inappropriate content in marketing, particularly fake news, discussing the ethical implications and the importance of promoting truthful information to build trust with consumers. Further, Fraga-Lamas and Fernandez-Carames (2020) propose leveraging distributed ledger technologies, specifically blockchain technology, to combat fake news, disinformation, and deepfakes. They argue that the blockchain’s properties, such as decentralization and transparency, can enhance the trustworthiness of digital information. Next, Kamps and Kleinberg (2018) address the issue of pump-and-dump schemes in the cryptocurrency market, highlighting the fraudulent nature of such practices and the need for detection methods to protect investors and maintain market integrity.
This leads to Song et al. (2019), who investigates the impact of deceptive marketing during pseudo-product-harm crises on consumer sentiment. They find that deceptive marketing practices lead to a decline in trust and brand evaluations, highlighting the importance of transparency and ethical marketing practices. The articles examine various dimensions of deception, misinformation, and fraudulent practices. They provide insights into the consequences of such practices in different domains, propose potential solutions or technologies (e.g., blockchain technology) to combat them, and highlight the ethical considerations involved. While each article has a unique focus and scope, they contribute to a broader understanding of the challenges and potential remedies related to deception and misinformation in different contexts.
The articles under discussion encompass a large scope, and focus on deception and its implications in various domains. Chelliah and Swamy (2018) delve into business strategy, specifically examining deception and lies within this context. Conte de Leon et al. (2017) focus on the properties and misconceptions surrounding blockchain technology, aiming to shed light on this emerging field. Di Domenico and Visentin (2020) narrow their focus to marketing, delving into inappropriate content and specifically addressing the issue of fake news. Fraga-Lamas and Fernandez-Carames (2020) explore the use of distributed ledger technologies, such as blockchain technology, to combat digital deception in a broader sense. Kamps and Kleinberg (2018) zoom in on the cryptocurrency market, investigating the phenomenon of pump-and-dump schemes. Lastly, Song et al. (2019) direct their research towards the impact of deceptive marketing during pseudo-product-harm crises on consumer sentiment. Overall, each article contributes unique insights into understanding deception in its respective domain.
The articles under consideration examine deception and related issues across various domains. First, Chelliah and Swamy (2018) delve into the intricacies of deception within business strategy, emphasizing its implications in this context. Next, Conte de Leon et al. (2017) and Fraga-Lamas and Fernandez-Carames (2020) explore the implications of deception in digital environments, with the former focusing on the misconceptions surrounding blockchain technology and the latter discussing the use of distributed ledger technologies to combat digital deception. Next, Di Domenico and Visentin (2020) narrow their focus to the marketing domain, specifically examining problematic content, including the dissemination of fake news. Next, Kamps and Kleinberg (2018) delve into the cryptocurrency market, studying the phenomenon of pump-and-dump schemes, while Song et al. (2019) investigate the impact of deceptive marketing on consumer sentiment. Each article offers valuable insights into deception within its domain, contributing to a comprehensive understanding of the subject.
Finally, ethics and the ethical implications of deception are key considerations addressed in several articles. Chelliah and Swamy (2018) and Di Domenico and Visentin (2020) explicitly discuss the ethical dimensions of deception, underscoring the importance of transparency and ethical decision-making in business strategy and marketing, respectively. They advocate for ethical practices to build trust and maintain long-term relationships with stakeholders. Fraga-Lamas and Fernandez-Carames (2020) also highlight the ethical aspects in their exploration of combating fake news and disinformation, emphasizing the need to protect individuals from the negative consequences of deceptive practices. Kamps and Kleinberg (2018) and Song et al. (2019) focus more on the impact of deceptive practices and fraudulent schemes on stakeholders, highlighting the ethical concerns arising from such practices. Together, the articles emphasize the significance of ethical considerations in addressing deception, advocating for transparency, trust-building, and responsible decision-making in various domains.
The articles collectively argue for the importance of honesty, transparency, and ethical decision-making across various domains. They underscore the negative consequences of deception, misinformation, and fraudulent practices, while also suggesting potential solutions, including blockchain technology, to combat digital deception and restore trust in information dissemination. While the articles discussed address different aspects of deception, misinformation, and fraudulent practices, they have some notable differences and similarities.
Annotated Bibliography
Chelliah, J., & Swamy, Y. (2018). Deception and lies in business strategy. Journal of Business Strategy, 39(6), 36–42. https://doi.org/10.1108/JBS-09-2017-0135
The article by Chelliah and Swamy (2018) titled “Deception and lies in business strategy” explores the role of deception and lies in the context of business strategy. The authors delve into the various ways in which deception is employed by organizations and its potential impact on their strategic decision-making processes. The authors highlight that deception in business strategy can take different forms, such as misleading financial reporting, false promises to stakeholders, or concealing crucial information from competitors.
They emphasize that while deception may offer short-term advantages, it can have detrimental long-term consequences for organizations, including damage to reputation, legal consequences, and loss of stakeholder trust. Chelliah and Swamy (2018) also discuss the ethical implications of deception in business strategy, arguing that it goes against principles of transparency and honesty. Instead, they emphasize the importance of ethical decision-making and suggest that organizations adopt strategies based on integrity and trust. Unfortunately, companies such as “Google and Facebook have long argued that they are providers of neutral platforms for the exchange of ideas as distinct from being publishers (Chelliah & Swamy, 2018, p. 35) while actively interacting with the content of advertising material.
In conclusion, the article by Chelliah and Swamy (2018) sheds light on the role of deception and lies in business strategy. It highlights the potential risks and ethical concerns associated with such practices and encourages organizations to prioritize transparency and honesty in their strategic decision-making processes.
Conte de Leon, D., Stalick, A. Q., Jillepalli, A. A., Haney, M. A., & Sheldon, F. T. (2017). Blockchain: Properties and misconceptions. Asia Pacific Journal of Innovation and Entrepreneurship, 11(3), 286–300. https://doi.org/10.1108/APJIE-12-2017-034 The article by Conte de Leon et al.(2017) titled “Blockchain: Properties and misconceptions” explores the properties and common misconceptions surrounding blockchain technology. The authors aim to clarify the fundamental characteristics of blockchain and dispel any misunderstandings associated with it.
Conte de Leon et al.(2017) begin by explaining the key properties of blockchain, such as decentralization, immutability, transparency, and security. They emphasize that blockchain is a distributed ledger technology that enables secure and transparent transactions without intermediaries. They also discuss the concept of consensus algorithms and their role in maintaining the integrity of the blockchain network.
Additionally, the article addresses several misconceptions about blockchain technology. The authors address the misconception that blockchain and cryptocurrency are synonymous, highlighting that while blockchain is the underlying technology behind cryptocurrencies, its applications extend far beyond digital currencies. They also address misconceptions about blockchain scalability, energy consumption, and privacy concerns.
Overall, the article provides an overview of the properties of blockchain technology and addresses common misconceptions surrounding its implementation. Unfortunately, the authors mistakingly misrepresent a Blockchain system as “[a]n emergent ledger or blockchain, in a DLS, is the resulting ledger for which the majority of the users on the network agree at any given time” (Conte de Leon et al., 2017, pp. 291–292). The paper serves as a resource for individuals seeking to understand the fundamental aspects of blockchain and its potential applications beyond ‘cryptocurrencies’, but it needs to be analyzed based on the nature of the system and not common misperceptions.
Di Domenico, G., & Visentin, M. (2020). Fake news or true lies? Reflections about problematic contents in marketing. International Journal of Market Research, 62(4), 409–417. https://doi.org/10.1177/1470785320934719
The article by Di Domenico and Visentin (2020) titled “Fake news or true lies? Reflections about problematic contents in marketing” explores the issue of inappropriate content, specifically fake news, in marketing. The authors delve into the implications and challenges posed by the spread of fake news and discuss the responsibility of marketers in addressing this issue. Di Domenico and Visentin (2020) highlight the rise of fake news in the digital age and its potential impact on consumer behavior and decision-making. They argue that spreading misinformation can harm society and trust in marketing communications. They also discuss the role of social media platforms in disseminating fake news and the challenges they face in tackling this problem.
Di Domenico and Visentin (2020) emphasize the ethical considerations for marketers when dealing with inappropriate content. They stress the importance of promoting truthful, accurate information to build consumer trust. They also suggest that marketers should proactively address and counter fake news through transparency, fact-checking, and responsible content creation. While Di Domenico and Visentin (2020, p. 410) discuss completely fake news, the authors also examine partially correct information where “there is disinformation rooted in a truthful reality but distorted to the point that the core facts are no longer factual”.
In conclusion, the article highlights the significance of addressing problematic content, particularly fake news, in marketing. It emphasizes the ethical responsibilities of marketers in promoting truthful information and provides insights on strategies to combat the spread of fake news in the digital landscape.
Fraga-Lamas, P., & Fernandez-Carames, T. M. (2020). Fake News, Disinformation, and Deepfakes: Leveraging Distributed Ledger Technologies and Blockchain to Combat Digital Deception and Counterfeit Reality. IT Professional, 22(2), 53–59. https://doi.org/10.1109/MITP.2020.2977589
The article by Fraga-Lamas and Fernandez-Carames (2020) titled “Fake News, Disinformation, and Deepfakes: Leveraging Distributed Ledger Technologies and Blockchain to Combat Digital Deception and Counterfeit Reality” explores the use of distributed ledger technologies, specifically blockchain, in addressing the challenges posed by fake news, disinformation, and deepfakes. Fraga-Lamas and Fernandez-Carames (2020, p. 54) note, “[t]he term “deepfakes” referred originally to manipulated videos with face-swapping techniques”. The paper partially captures a means of determining this information but misses how multiple sources can be created simultaneously when many Blockchain systems exist.
Fraga-Lamas and Fernandez-Carames (2020) highlight the growing concerns surrounding the spreading of false information and manipulated media in the digital realm. They discuss the potential consequences of these deceptive practices on society, including the erosion of trust, manipulation of public opinion, and threats to democracy.
Fraga-Lamas and Fernandez-Carames propose that distributed ledger technologies, such as blockchain, can be leveraged as a potential solution to combat digital deception. They explain how the properties of blockchain, including decentralization, immutability, and transparency, can enhance the credibility and verifiability of information. They suggest that blockchain can be used to create decentralized fact-checking systems, provide transparency in creating and disseminating content, and enable users to verify the authenticity of information and media. The article also addresses the challenges and limitations of implementing blockchain-based solutions, such as scalability, privacy concerns, and the need for collaboration among stakeholders.
In conclusion, the authors advocate for adopting distributed ledger technologies, particularly blockchain, to combat fake news, disinformation, and deepfakes. They highlight the potential benefits of blockchain in enhancing the trustworthiness and reliability of digital information and emphasize the need for further research and collaboration to fully realize its potential in addressing the challenges of digital deception.
Kamps, J., & Kleinberg, B. (2018). To the moon: Defining and detecting cryptocurrency pump-and-dumps. Crime Science, 7(1), 18. https://doi.org/10.1186/s40163-018-0093-5
The article by Kamps and Kleinberg (2018) titled “To the moon: Defining and detecting cryptocurrency pump-and-dumps” focuses on the phenomenon of pump-and-dump schemes in the context of cryptocurrencies. The authors aim to define and detect these schemes to shed light on the manipulative practices prevalent in the cryptocurrency market. As Kamps and Kleinberg (2018, p. 2) discuss, “[a] pump-and-dump scheme is a type of fraud in which the offenders accumulate a commodity over a period, then artificially inflate the price through means of spreading misinformation (pumping), before selling off what they bought to unsuspecting buyers at the higher price (dumping).”
The authors begin by explaining the concept of pump-and-dump schemes, where a group of individuals artificially inflates the price of a cryptocurrency through coordinated buying, creating a hype or “pump,” and then sells their holdings at the inflated price, causing a subsequent price crash or “dump”. Next, they highlight the fraudulent nature of these schemes and the negative impact they have on investors and the overall market. Kamps and Kleinberg (2020) propose a method for detecting pump-and-dump schemes by analyzing trading data and identifying abnormal trading patterns associated with such schemes. They outline a framework that combines statistical analysis and machine learning techniques to detect suspicious trading activities. The article also discusses the challenges in detecting and prosecuting pump-and-dump schemes due to the decentralized and anonymous nature of the cryptocurrency market. Finally, the authors emphasize the importance of regulatory measures and increased awareness to mitigate the risks associated with these manipulative practices.
In conclusion, the article provides insights into the phenomenon of pump-and-dump schemes in the cryptocurrency market. Furthermore, Kamps and Kleinberg (2018) propose a detection framework and highlight the need for regulatory actions to combat these fraudulent activities and protect investors in the evolving landscape of cryptocurrencies.
Song, R., Kim, H., Lee, G. M., & Jang, S. (2019). Does Deceptive Marketing Pay? The Evolution of Consumer Sentiment Surrounding a Pseudo-Product-Harm Crisis. Journal of Business Ethics, 158(3), 743–761. https://doi.org/10.1007/s10551-017-3720-2
The article by Song et al. (2019) titled “Does Deceptive Marketing Pay? The Evolution of Consumer Sentiment Surrounding a Pseudo-Product-Harm Crisis” investigates the impact of deceptive marketing on consumer sentiment during a pseudo-product-harm crisis. The authors aim to understand how deceptive marketing practices influence consumer perceptions and attitudes towards a brand. The study focuses on a hypothetical scenario where a brand engages in deceptive marketing, creating a perception of product harm that does not exist. The authors analyze how consumers’ sentiments evolve when faced with such deceptive practices.
The findings of the study suggest that deceptive marketing negatively affects consumer sentiment, leading to a decline in trust and brand evaluations. Initially, consumers react strongly to the perceived product harm, expressing negative sentiments. However, as more information becomes available and the deception is revealed, consumer sentiment gradually shifts towards skepticism and dissatisfaction with the brand.
The article also highlights the role of corporate social responsibility (CSR) as a mitigating factor. It suggests that brands with a strong CSR reputation may be able to recover and regain consumer trust more effectively compared to brands with a weaker CSR reputation. As “[o]nline chatter amplifies the negative effect of recalls on downstream sales nearly 4.5 times” (Song et al., 2019, p. 745), inaction can lead to long-term reputation costs. In conclusion, the article demonstrates that deceptive marketing practices harm consumer sentiment. It emphasizes the importance of transparency and ethical marketing practices in building and maintaining consumer trust. The study underscores the potential long-term negative consequences of deceptive marketing, and highlights the significance of CSR in managing and recovering from pseudo-product-harm crises.
References
Chelliah, J., & Swamy, Y. (2018). Deception and lies in business strategy. Journal of Business Strategy, 39(6), 36–42. https://doi.org/10.1108/JBS-09-2017-0135
Conte de Leon, D., Stalick, A. Q., Jillepalli, A. A., Haney, M. A., & Sheldon, F. T. (2017). Blockchain: Properties and misconceptions. Asia Pacific Journal of Innovation and Entrepreneurship, 11(3), 286–300. https://doi.org/10.1108/APJIE-12-2017-034
Di Domenico, G., & Visentin, M. (2020). Fake news or true lies? Reflections about problematic contents in marketing. International Journal of Market Research, 62(4), 409–417. https://doi.org/10.1177/1470785320934719
Fraga-Lamas, P., & Fernandez-Carames, T. M. (2020). Fake News, Disinformation, and Deepfakes: Leveraging Distributed Ledger Technologies and Blockchain to Combat Digital Deception and Counterfeit Reality. IT Professional, 22(2), 53–59. https://doi.org/10.1109/MITP.2020.2977589 Kamps, J., & Kleinberg, B. (2018). To the moon: Defining and detecting cryptocurrency pump-and-dumps. Crime Science, 7(1), 18. https://doi.org/10.1186/s40163-018-0093-5
Song, R., Kim, H., Lee, G. M., & Jang, S. (2019). Does Deceptive Marketing Pay? The Evolution of Consumer Sentiment Surrounding a Pseudo-Product-Harm Crisis. Journal of Business Ethics, 158(3), 743–761. https://doi.org/10.1007/s10551-017-3720-2
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As humanity navigates the complexities of the rapidly changing world in the 21st century, a disconcerting truth emerges: explosive population growth, relentless domination of the Earth, and the subjugation of other life forms have collectively set in motion a catastrophic mass extinction event and an existential crisis for humanity. This impending crisis often eludes collective awareness, concealed beneath the veil of what was once a comforting belief in human exceptionalism. However, this very conviction now poses a fundamental threat, demanding a profound shift in perspective and priorities as the world enters this new century.
When one observes the prevailing anarchy and chaos, it becomes evident that Nepal requires this shift more urgently than any other nation in the world. The alarming reality of the impending ecological catastrophe is often overlooked or deliberately silenced in societal discussions. Instead, placing blame on foreign countries has historically served as a convenient means to avoid taking responsibility for issues related to corruption and poor governance. The basis for this tendency lies in what can accurately be termed ‘Human Supremacy.’
Astonishingly, the ascent of human supremacy has unfolded at an incredible pace, especially in the last 10,000 years, coinciding with the rise of agriculture, farming, and animal husbandry. As a result, in a mere blink of evolutionary time, humanity has transformed from a population of about one million, surviving as gatherers and hunters for nearly 300,000 years, to a staggering global population of eight billion. This transformation, however, isn’t a predestined evolutionary course; instead, it stands as an accidental and unprecedented aberration in the planet’s geological history, which inadvertently spawned civilizations with their complex set of challenges.
The notion that civilizations often perceive themselves as superior is a well-documented observation in both history and sociology. This sense of superiority frequently arises from cultural, technological, or economic accomplishments, resulting in ethnocentrism that overshadows numerous challenges faced by humanity. For example, the strong appetite for meat consumption within civilizations presents a substantial challenge. The demand for meat production has triggered widespread deforestation, habitat destruction, and the excessive depletion of water resources, all of which significantly contribute to ecological imbalances and the endangerment of countless species.
The practices associated with the meat industry, including factory farming, harm the environment and raise profound ethical questions about the treatment of animals. Reevaluating the relationship with meat consumption becomes integral to reconsidering the concept of civilization in light of its planetary impact. To illustrate, livestock production alone accounts for 15% of all global greenhouse emissions. Cutting down on meat and dairy consumption not only reduces pollution but also preserves land and water resources, while preventing deforestation. Scientists emphasize that this is the most impactful action individuals can take to reduce their environmental footprint. Also, runoff from cattle farms, containing antibiotics, hormones, and pathogens, can harm aquatic ecosystems and human health. These concerns have spurred calls for more sustainable and ethical practices within the industry, as well as the development of plant-based and lab-grown meat alternatives as well as the adoption of Metahumanism, which advocates embracing diversity, symbiosis, and non-violence in interactions with all life forms.
Acknowledging the ethical challenges posed by the consumption of animals adds another dimension to the call for transformation. The act of eating animals perpetuates harm to non-human species. This ethical aspect underscores the urgency of adopting a Metahuman perspective and reevaluating choices to foster a more compassionate and sustainable coexistence with the natural world. This philosophy holds particular relevance in addressing issues of ongoing social disharmony in Nepal.
If one delves further into the root causes of this crisis, inextricable connections to more overarching issues such as domination, control, ethnocentrism, the exploitation of animals, and the disruption of social harmony become evident. These interconnected issues are collectively responsible for propelling humans and other species towards the precipice of ecological disaster. Resolving this will require breaking free from entrenched ontologies steeped in algorithmic reductionism. In fact, an urgent redirection is needed, one that leads humans toward a Metahuman shift that actively celebrates the myriad forms of intelligence present on Earth.
Metahumanism, as an ideology, encourages humans to wholeheartedly embrace this rich diversity and to transcend the age-old boundaries that have artificially separated humanity from the broader natural world, echoing the traditional reverence of nature by many cultures. Metahumanism encourages the exploration of novel avenues of coexistence, collaboration, and even co-evolution with fellow inhabitants of this planet. At its core, Metahumanism is a clarion call for a profound shift in perspective, urging recognition that intelligence is not the exclusive domain of only the human species; rather, it is a magnificent and multifaceted mosaic of capabilities, potentials, and expressions that intricately enrich the interconnected web of life itself.
Amidst the pressing challenges faced by the world, it is imperative to acknowledge the intricate intersection of ethnic conflicts, often rooted in the belief of one’s group’s inherent superiority, which mirrors the harmful narrative of human supremacy. These conflicts sustain divisions and hostilities among various groups, hindering the collective effort needed to avoid the impending mass extinction and human existential crisis. Tackling these conflicts effectively hinges on recognizing their inextricable connections to more overarching issues of domination and control – the very issues responsible for propelling humans towards the precipice of ecological disaster.
The time has arrived for humans to profoundly reconsider their place within the intricate tapestry of life on Earth. The concept of human supremacy, as well as the superiority of ethnic groups, and belief systems underpinning many of their actions and attitudes, can no longer hold sway in the face of an impending ecological, social, and economic catastrophe. A shift away from the prevailing narrative that enshrines civilization as both inevitable and superior is needed, gravitating instead towards a Metahuman perspective that champions diversity, symbiosis, and the beauty of indeterminacy. This applies to political parties and the Nepali people as well.
The Metahumanism shift demands that humans critically examine their traditions, scrutinize their assumptions, and even reevaluate their way of life. More importantly, this transformative shift offers the promise of a more harmonious and sustainable future for all life forms that share this planet. To genuinely address the looming ecological and social challenges, it is necessary to confront and resolve religious and ethnic conflicts, acknowledging their role in perpetuating division and obstructing a united response to these pressing issues. Uniting in the face of these challenges is not merely a necessity; it is a profound moral imperative vital for the preservation of life on Earth, as well as for Nepal as a whole to survive.
Hence, individuals or groups intent on disrupting social harmony should not be permitted to succeed, as their actions typically serve to benefit politicians who exploit these divisions for their own gain. Instead, Nepal needs politicians who prioritize and advocate for social harmony, working towards unity and cooperation among diverse groups in society. Rajendra Prasad Lingden has emerged as a leader who prioritizes the welfare of the nation over partisan interests, striving to achieve the greater goal of maintaining social harmony in Nepal, especially at a time when the nation is perched on the brink of becoming a failed state
In fact, Nepal has already failed primarily due to its longstanding struggle with dysfunctional 18th-century-style centralized institutions, including bureaucracy, political parties, and parliament. These institutions have grappled ineffectively with adapting to the disruptive changes brought about by the digital revolution and globalization. Within this context, the political class in Nepal clings to an outdated mindset, reminiscent of bygone eras, resisting reform and perpetuating corruption. This disconnect between governance structures of old and the evolving needs of society is pushing Nepal towards ethnic violence and social unrest.
This crisis is characterized by the simultaneous decline of established norms and the tumultuous emergence of new paradigms. Amidst the prescribed rhetoric of political parties, the nation finds itself submerged in this profound crisis, echoing the words of Antonio Francesco Gramsci that “the crisis consists precisely in the fact that the old is dying and the new cannot be born.” In the Nepali context, this anarchy can be attributed to the political class, which continues to operate with a mindset rooted in the past, failing to adapt to the changing times. Meanwhile, society’s conflict exposes the stark contrast between outdated governance and evolving public expectations, with the old paradigm still hindering the new from thriving.
To pave the way for a prosperous future, Nepal must distance itself from old paradigms, following a path reminiscent of countries that have collapsed in the past. Instead, the nation should wholeheartedly embrace Metahumanism, a philosophy that champions diversity, symbiosis, and the recognition of intelligence among all species, individuals, and communities. This Metahuman shift is paramount in fostering a more harmonious and sustainable future, transcending the limitations of outdated ideologies that are currently pushing Nepal to the brink of anarchy.
The Labuan Financial Services Authority (Labuan FSA) has inked a memorandum of understanding (MoU) with the Bermuda Monetary Authority (BMA) to pave the way for greater regulatory, enforcement and supervisory cooperation between the two regulators.
In a statement, Labuan FSA said the MOU was signed virtually by its director-general Nik Mohamed Din Nik Musa and BMA chief executive officer Craig Swan recently.
“Taking cognisant of the growing globalisation of insurance markets and digital asset business, the two authorities are committed to strengthening cooperation and exchange of information in the insurance and digital asset business areas,” it said.
The MOU covers the exchange, handling, protection and return of information in possession, as well as the provision of investigative assistance to enable both authorities to execute their respective mandates and functions effectively.
Mr Nik Mohamed Din said that the collaborative arrangement would be an important initiative to achieve greater cooperation and synergy between the two authorities.
VZ CLASS ACTION: Hagens Berman, National Trial Attorneys, Encourages Verizon Communications (VZ) Investors with Substantial Losses to Contact Firm’s Attorneys, Lead Liability Securities Fraud Lawsuit Filed – Corporate Social Responsibility News Today – EIN Presswire
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