Conflict of Interest Management

Method / Human Resources

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Conflict of Interest Management
D P BABU, Member, Strategy Consultant, India

In the modern society there exists conflict of interests between individuals, groups and organizations. At times, mangement's win-win techniques are unable to find solutions to certain socio-legal problems which need to be addressed through conflict of interest management techniques.

Conflict of Interest Management is newer management technique which addresses socio-legal problems where there exist conflict of interest between individuals, groups and organizations to be necessarily solved in order to equally promote the interests of conflicting groups. Understanding the legal impact on the subject matter of conflict and try to reduce the dysfunctional and ingenuine factors involved in the problem is the core activity in conflict of interest management.

This technique can widely be used in social audits where while accountability standards are genuinely to be followed, managerial decisions up to what extent of exceptions in following such standards can be allowed, such that the conflict of interests can be better managed.

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