Final answer:
The statement 'Consumer feedback on social media sites does not affect a company's prospects or status as ethical' is false. Consumer feedback on social media can significantly impact a company's prospects and ethical standing.
Step-by-step explanation:
The statement 'Consumer feedback on social media sites does not affect a company's prospects or status as ethical' is False. Consumer feedback on social media sites can have a significant impact on a company's prospects and reputation. In today's digital age, social media is a powerful tool that allows customers to share their experiences and opinions about a company and its products or services.
If customers provide negative feedback on social media, it can damage a company's reputation and deter potential customers. On the other hand, positive feedback can enhance a company's reputation, attract new customers, and contribute to its success. Companies that actively engage with their customers on social media and address their concerns or feedback in a timely and transparent manner demonstrate ethical behavior and a commitment to customer satisfaction.
For example, a company that promptly responds to customer complaints on social media and takes steps to resolve the issues demonstrates transparency and accountability, which can improve its ethical standing in the eyes of consumers.