{"id":8514,"date":"2014-07-02T10:00:50","date_gmt":"2014-07-02T10:00:50","guid":{"rendered":"https:\/\/www.whizlabs.com\/?p=8514"},"modified":"2014-07-02T10:00:50","modified_gmt":"2014-07-02T10:00:50","slug":"how-to-manage-conflict-of-interest-at-workplace","status":"publish","type":"post","link":"https:\/\/www.whizlabs.com\/blog\/how-to-manage-conflict-of-interest-at-workplace\/","title":{"rendered":"How To Manage Conflict Of Interest At Workplace"},"content":{"rendered":"<p><span style=\"font-size: 14px;line-height: 1.5em\">A conflict of interest is when a person put his\/her personal interests above the interests of the organization he\/she is working for. Or when a person uses his\/her influence to cause others to make decisions in one\u2019s favour without regard for the project outcome. In other words, one\u2019s personal interests take precedence over his\/her professional obligations, and the decision results in allowing the individual to personally benefit regardless of the project\u2019s outcome.<\/span><\/p>\n<p>Conflicts of interest plays an important role in an individual\u2019s life both personally and professionally. It can cause great harm to one\u2019s career and\/or reputation if not addressed carefully. To manage it carefully it is important for you to understand what comes under conflict of interest. Below is the list of some examples<\/p>\n<ul type=\"disc\">\n<li>Hiring your relative or family friend over better candidates short-listed for the same profile.<\/li>\n<li>Sharing confidential information with a vendor, who is your friend or friend\u2019s relative.<\/li>\n<li>Taking part in vendor selection when your spouse or close relative is taking part in the bidder conference.<\/li>\n<li>Accepting expensive gifts from vendors. On certain occasion it is a custom to offer gift, but then you need to check your company\u2019s policy before accepting any favour or gifts from any client or customer<\/li>\n<li>Praising your friend or relative so that they can be awarded the new contract.<\/li>\n<li>Assisting or guiding your friend or relative in business, who is your employer\u2019s competitor in the market.<\/li>\n<li>Accept the offer to go to your wife\u2019s company to conduct audit.<\/li>\n<li>Favouring supporters and misusing authority by giving support, protection or favours based on loyalty rather than ability.<\/li>\n<li>Making work-related decisions in favour of a family member or any other close personal relationship regardless of merit.<\/li>\n<li>The risk of actual or perceived favouritism in merit selection, promotion, performance management, salary and bonus decisions.<span style=\"font-size: 14px;line-height: 1.5em\">\u00a0<\/span><\/li>\n<\/ul>\n<div>\n<table width=\"610\" border=\"1\" cellspacing=\"8\" cellpadding=\"8\">\n<tbody>\n<tr>\n<td>\n<h5><span style=\"text-decoration: underline\"><strong>Example<\/strong><\/span><\/h5>\n<p>Peter was the project manager for a network upgrade project for her organization. The project was planned to be outsourced and Peter was a member of \u00a0the selection committee.John was the vendor with whom Peter had worked in the past. John wanted to win this bid. He goes to Peter\u2019s office one day \u00a0shortly after the RFP (Request for Proposal) was posted.He said that he has a great news to share. His company had selected 10 lucky clients for a \u00a0conference followed by a trip to Switzerland. Peter replied \u201cThanks for considering and selecting us. But you and I both know this isn\u2019t a conference. I \u00a0wouldn\u2019t feel right about accepting it.\u201d<\/p>\n<p>John tried hard to convince him by mentioning the names of other top companies agreed to participate in this conference. Also about other benefits \u00a0and outcomes of the conference, but Peter replied \u201cI appreciate the offer, thanks for selecting us, but no thanks. Your company is in the list of our new \u00a0contract and I\u2019m in the selection committee for the RFP. It would be a conflict of interest if we accept your offer to attend this conference. Besides, the \u00a0value of the conference is exceeding our company policy for accepting gifts from vendors.\u201d<\/p>\n<p>In the above example Peter must be feeling relaxed as he could award the contract purely based on the merit of vendors. If he would have accepted \u00a0John\u2019s offer and later awarded him the contract, this probably would have been a conflict of interest. This violates PMI guidelines and doesn\u2019t look good \u00a0personally either.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><span style=\"font-size: 14px;line-height: 1.5em\"><br \/>\nUsing the \u201cI was not aware there was a policy\u201d reasoning probably won\u2019t save you in case of conflict of interest. Ensure to find out whether the organization has a conflict of interest policy and understand it.<\/span><\/p>\n<p>In case your organization does not have any policy regarding vendor favours and gifts, suggest the concern department to set certain limit depending on the situation. It is always safe to decline a gift you are not sure about than to accept it and later lose your credibility and reputation because of an incorrect judgement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A conflict of interest is when a person put his\/her personal interests above the interests of the organization he\/she is working for. Or when a person uses his\/her influence to cause others to make decisions in one\u2019s favour without regard for the project outcome. In other words, one\u2019s personal interests take precedence over his\/her professional obligations, and the decision results in allowing the individual to personally benefit regardless of the project\u2019s outcome. Conflicts of interest plays an important role in an individual\u2019s life both personally and professionally. It can cause great harm to one\u2019s career and\/or reputation if not addressed [&hellip;]<\/p>\n","protected":false},"author":220,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[26],"tags":[1280],"class_list":["post-8514","post","type-post","status-publish","format-standard","hentry","category-project-management","tag-project-management-5"],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"profile_24":false,"profile_48":false,"profile_96":false,"profile_150":false,"profile_300":false,"tptn_thumbnail":false,"web-stories-poster-portrait":false,"web-stories-publisher-logo":false,"web-stories-thumbnail":false},"uagb_author_info":{"display_name":"Aditi Malhotra","author_link":"https:\/\/www.whizlabs.com\/blog\/author\/aditi\/"},"uagb_comment_info":0,"uagb_excerpt":"A conflict of interest is when a person put his\/her personal interests above the interests of the organization he\/she is working for. Or when a person uses his\/her influence to cause others to make decisions in one\u2019s favour without regard for the project outcome. In other words, one\u2019s personal interests take precedence over his\/her professional&hellip;","_links":{"self":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/posts\/8514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/users\/220"}],"replies":[{"embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/comments?post=8514"}],"version-history":[{"count":0,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/posts\/8514\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/media?parent=8514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/categories?post=8514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/tags?post=8514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}