CONFLICT OF INTEREST

CONFLICT OF INTEREST

Name

Institution

Number 1.activity -3 about conflict of interest, you can see the questions underneath.

What conflicts of interest have you personally experienced in personal or professional roles?

Personal conflict of interest that I have experienced is in the work place is that of the choice of candidates for various jobs in the company. The manager in this case has mostly chosen people from a certain race when compared to other races and therefore the less preferred race is disadvantaged as most managers are from a certain ethnic group.

If you perceive a potential conflict for yourself, what are some ways you must ensure that this conflict does not lead to unethical behavior for you and others?

The best way to deal with a conflict of interest is to avoid being in the situation whereby the conflict of interest may arise and to be open and transparent about any issue that may lead to a conflict of interest. Another way is to avoid receiving gifts from people you conduct business with and making collective decisions to prevent bias or favoritism. Another way is to avoid any roles that may conflict with my work especially when there are stakes in other companies. Avoiding favors will be another milestone that will help in removing preferential treatment to others hence considering all clients fairly.

What have others’ conflict affected how you or those you know were treated?

Others conflict of interest has greatly affected the way the company treats some sections of workers. The company has mostly treated people from a certain region in favorable way in terms of promoting them and giving them, pay rises in their current bulkposts. Some people who come from different regions than of the supervisors have not been treated favorably. I come from a different region so I can bear witness that it takes long for one to be recognized for a promotion or raise because of his race or closeness to the appointing authority.

What types of policies or do organizations implement to try to reduce conflicts of interest or their costs?

Some policies company implement are those that are against favorite and where the company requires individuals to declare whether they have such conflicts of interest among them and the clients. The policies by the companies or the regulations made are usually based on financial interests, particular matters and individuals who may bring about a conflict of interests in the companies. As such, companies have to identify such people and ensure that they prevent such instances from happening.