Conflict of Interests Term Paper Example | Topics and Well Written Essays - 2000 words

Conflict of Interests - Term Paper Example This is because its consequences have the potential of adversely affecting the corporate image of an organization or public office. In addition, conflict of interest is considered unethical in the sense that it leads to biased considerations and ways of doing business that may lead to a downfall of an organization. As a result, it is always considered imperative for any organization or public office to put in place measures aimed at mitigating or preventing altogether circumstances that might give room for conflict of interest. This is particularly done by instituting ethical code of conducts among other strategies as will be elaborated in the paper. Conflict of Interests Introduction Conflict of interest is a common word, widely used in the world today. Nevertheless, many still does not understand well its full significance. What is certain is that the term is not complex as some may think. This is because conflict of interest illustrates situations that a majority of us find themse lves into particularly when we are confronted with ethical decisions regarding duties conferred upon us. However, what is acknowledged is that, conflict of interest is unethical and must be avoided by all means. This can be traced back to the biblical teachings, which says, â€Å"thou shall not serve two masters† (Gordon, 2005, p.16).... What is noted is that conflict of interest knows no boundary in an organization as can be witnessed among top chief executives, board of directors, managers, as well as employees. This paper will explore ‘conflict of interest as a major ethical issue in the world today. What is conflict of interest? To begin with, conflict of interest arises when an individual, particularly an employee has multiple interests with the potential of clashing against each other. In the workplace, self-interest usually arises when an employee pursues other interests other than the professional or public interests which he or she is expected to pursue. Conflict of interest is usually considered unethical under the company’s code of conduct because it affects the general performance of an organization since it causes an individual to diverge from the interests of an organization to personal interest (Lewis, 1997). Situations that constitute conflicts of interest There are a number of situations that constitute conflict of interest in the workplace that is likely to jeopardize the effective running of an organization. One such is a situation where a male manager happens to date a female employee who is directly answerable to him or where a female manager dates a male employee who reports directly to her. In such a situation, a conflict of interest arises because the relationship between the employee and the manager affects the effective management of the company, as the manager will in most cases tend to appear lenient to the employee even if the employee whom he is in a relationship with happens to have made a problem. For instance, the employee who is in a relationship with the manager may