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n chapter 1, conflict of interests in a business setting are described as well as other...

n chapter 1, conflict of interests in a business setting are described as well as other conflicts which can take place in the corporate setting. While keeping in mind the specific types of conflicts of interest highlighted in chapter 1:

  • What do you believe could be some other examples of conflicts of interest in a business setting?
  • If you are a manager within an organization, what are some things you could do to minimize conflict of interest in your organization?

    n chapter 1, conflict of interests in a business setting are described as well as other conflicts which can take place in the corporate setting. While keeping in mind the specific types of conflicts of interest highlighted in chapter 1:

  • What do you believe could be some other examples of conflicts of interest in a business setting?
  • If you are a manager within an organization, what are some things you could do to minimize conflict of interest in your organization? 100 word minimum in your own word please no plagiarism

Solutions

Expert Solution

Examples are :

1: The manager gets various bids for a project and selects the bid given by his wife's company even though it is higher.

2: Manager hiring his relative over other suitable candidates.

3: Top management drawing huge bonuses even in times of losses, thus conflicting with the objective of shareholder wealth maximization.

4: Employees working for competitor part time.

To minimize conflict,There should be a confidential reporting system for identification of the same. Employees should be encouraged to report any suspicious cases freely to the immediate superiors. There should be clear guidelines that are known to all people in organization. The workplace culture should ingrain such guildelines. New employees must be trained accordingly. Finally, there must be an investigation process which is neutral and defined. The process must be free from bias and the consequences should be clearly outlined. There should be no exceptions or relations and a strong example must be set within the organization for all to follow.

jeff jeffy answered 6 months ago
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