Topic- white-collar crime ? find 1 recent peer-reviewed academic journal article (within the past 3 years) that closely relates to the concept. Y

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Conflict of Interest

Ankit Sinha

Business Ethics

Campbellsville University

Abstract

Conflict of interest is a prominent topic in medical practice, research, and teaching, and for a good reason. This research study analyzes conflict of interest and associated theories concerning clinical practice, biomedical research, medical education, the formation of clinical practice standards, and conflict of interest management techniques. Conflicts of interest can be characterized as a situation when a person in a position of trust, such as a lawyer, insurance company executive, or politician, has competed for professional or personal interests. When there are so many competing interests, carrying out one's responsibilities objectively. Even if he does not profit from unethical or illegal behavior, he is nonetheless in a position of conflict of interest. Professional reputation and integrity may be jeopardized due to conflicts of interest. As a result, several professions, politicians, judges, doctors, and researchers require members to be included in public directories. Conflicts of interest arise in public service due to the possibility of power abuse. In the article, "Conflict of interest as a cognitive bias, " the paper.” Kafaee et al. (2021) is analyzed to ascertain the journal's relevance to the topic. According to the analysis, the article is relevant to conflict of interest.

Conflict of Interest

A conflict of interest involves numerous financial or non-financial interests of an individual or institution, where pursuing one interest may necessitate the pursuit. Typically, situations in which a person's or organization's interest conflict with a duty to act in another's best interest are the subject of this investigation. Individuals are typically faced with two challenging issues where they have to decide either based on their professional ethics or according to personal desires. An example of conflict of interest can occur in a clinical setting where a physician may be faced with a compromising situation whether to choose professional interest over personal interest when making a clinical decision or vice versa.

Reference

Kafaee, M., Kheirkhah, M. T., Balali, R., & Gharibzadeh, S. (2021). Conflict of interest as a cognitive bias. Accountability in Research, 1-18.

Summary

This journal article was authored by Mahdi Kaffaee, Mohammad Taghi Kheirkhah, and Reihaneh Balali & Shahriar Gharibzadeh in June 2021. Shahriar Gharibzadeh is an Associate professor of physiology at Amirkabir University of Technology's Biomedical engineering faculty. The authors explore a conflict of interest about the cognitive bias. According to the article, having a financial or non-financial interest that could influence a person's professional performance is a conflict of interest. COI is critical in professions, as we may not want professional judgments to be influenced by personal interests. Various studies were conducted to showcase the significance of the professional settings and how to control and ensure personal interests do not guide professional decisions. According to their article, most people often result when facing a conflict of interest without following the actual decision-making process. Therefore, we should put weight behind Kafaee et al.'s (2021) work as it guides people in various professions to make sound decisions when faced with a conflict of interest.

Discussion

To succeed in any field, individuals must seek solutions to the daily challenges and barriers they face. Problems about the distinctiveness of a job are easier to consider than ethical dilemmas. When presented with an ethical issue, a person's difficulties expand because they end up experiencing a conflict of interest between professional skills and personal interests. Conflict of interest is a prevalent ethical issue in the workplace. Conflict of interest is the issue that many health care providers find to be particularly perplexing to understand better the issue of professional conflict of interest in medical practice. When an individual's interests collide with those of their employer or the company in which they are engaged, they are said to have a conflict of interest in the company. Placing one's personal interests ahead of those of a corporation in which one owns shares, or using one's position to advance one's own interests, is a conflict of interest.

The article “Conflict of interest as a cognitive bias" is relevant to the topic as it tries to explain how a financial or non-financial interest may affect the performance of a professional obligation. The researchers hypothesized that conflict of interest could subconsciously alter one's view of a situation. According to the study, interest can influence subconscious processes and, thus, perception. More accurate perceptions are created; when interests are at odds, more incorrect perceptions are formed. This cognitive bias also has ramifications for scientific observation, data management, and under-determination resolution.

When faced with conflicts of interest, most people tend to use their selfish and personal interests that are aimed to benefit them, ignoring professional ethics. This is reflected in their article as it is based on the cognitive bias when faced with a conflict of interest. Therefore, the article adds value to all topics on the effect of cognition in the decision-making process that involves a conflict of interest.

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