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Conflict of interest in business is an all too common
experience in the corporate world, and an issue that
owners and managers must be prepared to deal with
and act in the best interest of the company.
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A situation in which the concerns or aims of two
different parties are incompatible.
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In business, a conflict of interest arises when a person
chooses personal gain over duties to their employer,
or to an organization in which they are a stakeholder,
or exploits their position for personal gain in some
way.
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Nepotism
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Self – Dealing
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Business Relationships
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You may have a loyalty to the company for
which you work but also to your family’s
business. Should those two companies have
disparate goals that directly clash, that would
be a conflict of interest for you.
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Giving a promotion or job to your relative.
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Communication
Don’t Ignore It
Make it easy to file a formal complaint
Create Team Engagement
Treat Every Employee Fairly