What are conflicts of interest and how do they affect decision-making?
An example of an AI chatbot conversation about conflicts of interest in decision-making.
What are conflicts of interest and how do they affect decision-making?
Conflicts of interest occur when an individual's personal interests could influence their professional decisions. This can lead to biased outcomes.
Can you give me an example of a conflict of interest?
Sure! A classic example is a doctor who receives payments from a pharmaceutical company while prescribing their drugs.
How can organizations manage conflicts of interest?
Organizations can implement policies requiring disclosure of potential conflicts, provide training, and establish oversight committees.
What are the consequences of ignoring conflicts of interest?
Ignoring conflicts of interest can lead to loss of trust, legal issues, and poor decision-making that harms stakeholders.
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