Assignment Task:
You are a 26-year-old Internet entrepreneur who has built a platform specifically for the tween market to communicate with each other. Your primary goal is to create an environment in which young people can engage with social media but feel safe. You started your business because your cousin's best friend attempted to commit suicide following an online bullying incident. You have made every effort to comply with laws regarding privacy, and, so far, have not allowed any targeted advertising, only banner advertising that is general in nature at the top of your page. All advertisers must comply with the ethical standards that you have established with input from various parent contributors.
You are the CEO of the company, which is still privately owned, but the Board believes an initial public offering (IPO) is important to hold within the next 24 months. You have a team of more experienced people helping you to manage the operations and grow the enterprise. You recently hired a new Vice President of Marketing who is concerned about the financial model that the platform uses, and strongly suggests that the rules around advertising be relaxed as a means of expanding revenues. She feels that this will create a more favourable monetization strategy in preparation for the IPO.
Despite all your efforts, you are suddenly made aware that an advertiser infiltrated your business and subjected your users, all tweens, to unsuitable materials. Parents are angry and accounts are being closed.
What will you do? Explain the rationale for your recommended actions.