conflictofinterest

A conflict of interest occurs when an individual or organization has multiple interests, and fulfilling one interest could unduly influence duties, decisions, or judgments. Conflicts can be financial (for example, ownership stakes or fiduciary holdings) or non-financial (such as personal relationships, memberships, or gifts). A conflict can be actual, potential, or merely perceived; even the appearance of improper influence can undermine trust and integrity.

Conflicts arise in many settings, including government, business, non-profits, academia, and journalism. Examples include a public official awarding a contract to a firm in which they or a family member have an ownership stake; a manager with ties to a supplier receiving favorable treatment; a researcher who stands to benefit from a particular study outcome; or an editor with undisclosed ties to an author.

Management and mitigation strategies include identifying and disclosing conflicts, recusing oneself from relevant decisions, and establishing independent review or audit committees. Other measures may involve separating duties, divesting conflicting interests, placing assets in blind trusts, and enforcing codes of conduct and ethics training. Transparency in reporting and external oversight can reinforce accountability.

Impact and governance: unresolved conflicts can bias decisions, damage credibility, invite legal penalties, and erode public trust. Many jurisdictions require disclosure for public office; organizations commonly implement conflict-of-interest policies and routine disclosures in research, procurement, and journalism to maintain integrity and public confidence.