In: Finance
Q4
Mr Ali has been working as a finance officer in a
famous consumer goods company in Oman.
Recently Ali met his friend Qasim in a coffee shop. Ali has come to
know that Qasim is working
in another consumer goods company and both these companies are
strong competitors. Ali and
Qasim both discussed and shared different experiences and
strategies of their company, knowing
that both companies are tough opponents. These companies give tough
time to each other,
especially in Al Dakhliya region. Ali asked Qasim to share the
experience of his work in the
company. Ali has tried to get some important information through
him regarding the company’s
financial status, future sales, strategies, new upcoming products
etc, and to some extent Ali is
successful in obtaining the useful information. During the
conversation, Qasim also enquired about
Ali’s company’s future strategy and financial status, but surely
Ali does not want to share
important information of the company.
a. Considering both companies are traditional rivals, in accordance
with technical and professional standards, how Ali and Qasim should
have behaved individually at their respective positions?
b. What do you suggest, if the management finds out such behavior
shown by any of the
employees, what steps should they take to set an example for the
others to follow?
Your answer should be around 400 words for each question.
Answer 4a)
Ali and Qasim, both are working as Finance Officer in rival companies engaged in consumer goods. They both met and Ali tried to get sensitive information from Qasim.
While conversation, both must consider the respect and diginity for their position and should avoid sharing the information about the company that may affect the competition. Ali did not intent to share details if the company he works in but manages to collect the information of Qasim's company. This shows unprofessional behaviour of Qasim. Qasim should have avoid answering any such questions. He should have further, reported to his senior management about such incident. The finance matters of the company are highly critical and are considered as sensitive information that may impact the business and competition. Therefore, Qasim should not have disclosed any such information to Ali as he is the finance officer of another rival company.
Also, Ali should not be trying to envisage the information like this from Qasim. This shows his malicious intentions. At individual level, they both should strictly avoid talking business. In case, even if Qasim has shared the information with him, Ali shall not pass on the information further to anybody that may hamper the company in which Qasim works.
Answer 4b) In case management finds out such behavior of Qasim and Ali, they should expel the employees to set an example. Further, this shows lack of training to employees. Management shall conduct trainings and impart the education to employees telling them the need to maintain the confidentiality. Also, the employees shall feel belongingness so as to avoid such incidents.
Ali's company shall try to educate employees to not indulge into such malicious activities and play fair. Ali should be punished on the grounds of conduct of fraud. Envisaging such information from rival shows weak policies and that the company does not have any credibility or plays fair in the market.