Conflict of interest harming business

capri · Jun 26, 2023

A certain news story from Australia described a case whereby an officer in a municipality used his position to bring about the closure of a restaurant business that was competing with a business in which he owned shares. Given that he was in charge of quality inspections, this unethical official colluded with a junior staff member who carried a live slug and placed it near the kitchen of the targeted restaurant. The junior staff member engaged in this sabotage action while on an inspection tour of the targeted eatery.

The widely publicized 'discovery' of the slug triggered a chain of events that led to the closure of the restaurant.

Have you heard of a similar case in which a business suffered harm owing to the conflict of interest of a person in authority?

Suba · Jun 26, 2023

I often read conflict of interest news, especially local news in various fields, be it law, accounting, business etc. Not long ago I also read the news that a customs official owns a number of shares of an import-export company, and of course it will facilitate their trade so that they easily make profits, but now the customs official has been arrested on charges of graft and money laundering.

cherry123 · Jun 26, 2023

A business will always have issues if there's conflict of issues you should know that everyone not being on the same page for a business will ruin the business and that's just the truth

Semi · Jun 26, 2023

Interests is the hallmark of any collaboration but when it is unchecked, it tends to harm the entire project. Even with interests, it is possible to shift grounds without completely giving up your interests.

capri · Jun 26, 2023

Suba said:
I often read conflict of interest news, especially local news in various fields, be it law, accounting, business etc. Not long ago I also read the news that a customs official owns a number of shares of an import-export company, and of course it will facilitate their trade so that they easily make profits, but now the customs official has been arrested on charges of graft and money laundering.

I applaud the law enforcement officials who arrested this compromised customs officer. Such apprehension was crucial in that it has the potential for ensuring that the operations of the customs unit is no longer impaired by conflict of interest issues.

cherry123 · Jun 27, 2023

This is just why you need to employ partners that have almost the same interest with you. You should know that partners with diverse interests will always have conflict interest

Niyi Briggs · Jun 27, 2023

It is the same thing everywhere. People in authority are using their positions to oppress other businesses in favor of their own businesses. It is a Dog eat Dog world of business.

cherry123 · Jun 27, 2023

With different interests working as a team in most cases becomes difficult to achieve. People believe that their interest should be upheld while others thrown away and this will cause issues

Blessed19 · Jun 27, 2023

If it has to do with such stories in my region there are many who have suffered closure of your business due to difference and conflicting interests from government or top officials and the society.

timewo · Jun 28, 2023

I am making great losses because of conflict of interest. Top government employees especially in security agencies have been criminally defaming me, so that their wives, relatives, friends can falsely claim to own my bank account, domains and get monthly government salaries at my expense.

capri · Jun 28, 2023

Blessed19 said:
If it has to do with such stories in my region there are many who have suffered closure of your business due to difference and conflicting interests from government or top officials and the society.

These incidences are very unfortunate because they deny the respective governments the opportunity of earning tax income from the affected businesses.
Tragically, certain regimes are so captured by corruption cartels that they can not take any remedial action.

Blessed19 · Jun 28, 2023

capri said:
These incidences are very unfortunate because they deny the respective governments the opportunity of earning tax income from the affected businesses.
Tragically, certain regimes are so captured by corruption cartels that they can not take any remedial action.

Seriously it is really bad and against human rights and compassion. Things like this actually always happens in countries that have dictators or something of that nature but in a free country where anyone can invest or start up a business a proper investigation will be made in case of issues like this.

Heatman · Jun 28, 2023

cherry123 said:
A business will always have issues if there's conflict of issues you should know that everyone not being on the same page for a business will ruin the business and that's just the truth

This is the reason why you must have a crisis resolution set up in your business. It will help to sort things out immediately.

Blessed19 · Jun 28, 2023

Heatman said:
This is the reason why you must have a crisis resolution set up in your business. It will help to sort things out immediately.

You can set up a crisis resolution for your business but what if you are in a region where it is being controlled and ruled by a dictator kind of leadership and there is conflict of interest between your business and that of a cabinet member in the leadership?

eldavis · Jun 28, 2023

Personally i have not experienced such issues before but i have heard of various cases where the difference in conflict can greatly affect the business in general if care is not taken it usually leads to the fall of the business.

Etini Willie · Jun 28, 2023

Influential people always use their influence to make small businesses go down. That is why small businesses need to have alignment with government officials and influential people not to be bullied.

Passiveearner · Jun 28, 2023

I think that such kind of business politics is quite common in many countries. Influential people use their influence and power. They also tend to manipulate the market as well to some extent as they hold the power to do so in the first place.

Springtime · Jul 2, 2023

In my location, government officials and law makers have to declare if you own any businesses and properties. This is to ensure that they do not make policies which benefit their businesses.

Stardom22 · Jul 2, 2023

I have heard that too often in my country. Government officials would use their positions to close down the businesses of their competitors. Traffic police would harass the public transportation vihicles leaving their own vihicles uninspected and work as usual.

Niyi Briggs · Jul 2, 2023

Springtime said:
In my location, government officials and law makers have to declare if you own any businesses and properties. This is to ensure that they do not make policies which benefit their businesses.

This is the right approach but does it really work practically? They would have to disassociate themselves from the active management of the business. But they can still pull strings for those businesses as government staff.

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