To my understanding the usage of this app is because of its cryptic properties. So why is management utilizing it for communication about company business?
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Basically, some executive saw their kid using it and thought he discovered something amazing. Then every manager was told to use it on their personal phone.
When I was part of one of these groups it was pointless. They user it to set a meeting date and half the people didn't know about it because they didn't have everyone in the group. On holidays it devolved into managers bragging about their sales each hour and how they were "crushing it" like a bunch of dude bros. Managers were told they had to type something to look engaged. More important to type a message in an app than actually run the store
The use of the app is just to make managers think they are trendy with technology. In practice its pretty pointless.
Lowes ethics code specifically by name prohibits its use for Lowes work. Check it.
No expert here but WhatsApp is useful when communicating among multiple phone brands and multiparty calls. I seriously doubt encryption is the motivator. But you might want to put on a foil hat just to be safe.