DWI (The Legal and Ethical Environment of Business) Essay

DWI (The Legal and Ethical Environment of Business) - Essay Example The telecom service providers(1) would have been able to collect more money and reduce their losses if it would have been possible for them to know that which customer would pay the bills and which customer is going to ditch them. Therefore one of the basic needs of risk management is to study the attitude of the customers. Once the company knows as to how a customer behaves with his billing issue, it would be very clear as to how he would behave further. It has been observed that the telecom providers who use transaction -based risk management are able to focus their attention on the riskiest accounts thus assigning the appropriate treatment to all the calls that is required. An advanced risk management technique has been devised which includes the following features: There should be an analysis of the complete set of data about the customer, the billing and the behavioral data. This will include all details about the calls and also the payment history and the customer service interactions. As regarding the private and public law implications in this situation, it is advisable that first both the terms should be made very clear. The private law is that part of the system of law which includes in it the relationship between the individuals only like the law of contract or tort etc.