What is a conflict of interest in business?
An example of an AI chatbot conversation about conflict of interest in business.
What is a conflict of interest in business?
A conflict of interest in business occurs when an individual's personal interests interfere with their professional responsibilities.
Can you give me an example of a conflict of interest?
Sure! If a manager has a financial stake in a supplier, they might favor that supplier over others, compromising fairness.
How can businesses prevent conflicts of interest?
Businesses can implement clear policies, conduct regular training, and encourage transparency to prevent conflicts of interest.
What are the consequences of ignoring conflicts of interest?
Ignoring conflicts of interest can lead to legal issues, loss of trust, and damage to a company's reputation.
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