Definition of Conflict of Interest
What risks arise when an employee shares internal company information with a spouse who works for a competing company?
A) Delay in business process
B) Conflict of interest
C) Increase in costs
D) None of the above
B) Conflict of Interest
This situation creates a significant conflict of interest by affecting the employee’s objective decision-making process. Due to family ties, it can lead to a lack of fairness and transparency in the tendering process, preventing the company from achieving the best solution and potentially leading to increased costs.