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conflicts of interest in nowadays business - Essay Example
Pages 4 (1004 words)
Name Subject Date Conflict of interest A conflict of interest phenomenon is relevant today as it occurs frequently in the modern business society. It represents the situation in which a person who holds certain responsibility acts not in the interest of the organization he works for, but in his own interests…
Primary interests include all the responsibilities a person has at work depending on his/her kind of activity. Secondary interests are personal purposes and wishes such as making career, money making, doing favors for relatives. Certainly, financial motives are the most widespread causes of conflict of interest occurrence. Actually, personal interests are natural as all the people have them; however, they can easily become obnoxious in case if their motivation becomes stronger in comparison with primary interests’ motivation. The conflict of interest may be frequently present in the dormant form, but it turns into the real conflict when the person is really strongly influenced by secondary interests. Thus, there is a notion “conflict in a conflict of interests”. It appears in case when the risk of acting following secondary interests is present. More general interpretation of conflict of interest states that it is the circumstances in which a person or a company uses the official authorities for personal advantage. Actually, only the presence of conflict of interest is not considered as bad behavior as this is natural that employees or executives do have conflict of interest sometimes. ...
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