Code of Business Conduct and Ethics Essay

While finding a good balance, conflicts will most certainly arise. Conflict resolution strategies must be utilized, for the team to be effective and meet the goals and objective of their assignment. These conflicts may be more evident in certain types of teams more so than in others. Conflict is common when working in teams. Its is important to have team meeting in order to lay out potential problems and disagreements and prepare to support the teams final decision. (Weinstein, 2007)

Conflict results from real or perceived opposition to one’s values, actions, desires or general interests. Conflicts may occur internally or externally between individuals or groups; conflict within a team environment can cause frustration, and occasionally anger. However, conflict resolution can also often generate positive results for the team. Conflict management skills remain in demand; conflict may be managed successfully by reaching an agreement that satisfies the needs of both the individual(s) and the team as a whole

There are two different types of conflicts that could happen in a work place which would be functional and dysfunctional. A functional conflicts is a healthy, constructive disagreement between a groups or individual. A dysfunctional conflict is an unhealthy disagreement that occurs among an individual or groups of employees. A functional conflict will leave employees on a positive note it would only bring awareness to both sides of the issue, improvement of working conditions due to accomplishing solution together, solving issues together to improve overall morale, and making innovation and improvements with an organization. A functional conflict is something everyone is known as a win-win conflict. A dysfunctional conflict stem from emotions and behavioral origins, will have a negative impact for both parties that are having the conflict and the company. Dysfunctional conflicts are commonly known as win-lose conflict (Lombardo, 2003). It is not good for you to try and avoid a work conflict, it only making problems bigger. Work conflicts often happens from communications errors such as poor information, no information and misinformation. Another reason why a work conflict could happen because of emotions. Work place conflicts could emerge in any number of forms but there are some general variety types of conflicts that are repeated on the basis such as conflicts with the boss, conflicts with peers, and

The final category is conflict of interest. A conflict of interest occurs when an employee has an undisclosed economic benefit in a situation. For example, maybe the employee has a family member who works for one of the companies bidding on a project. If the employee knows that the family member will benefit and does not disclose the information to his superior than that is a conflict of interest.

Let’s say I serve on the Advisory Board for DeVry University. In this role I am being paid payments to be a part of the Advisory Board. This is a Conflict of Interest because board members are not allow to receive compensation.

Conflict of interest -individual or organization is involved in multiple interests, one of which could possibly corrupt their motivation to act appropriately for the other

‘Ah, Mac, my naive friend, this is called “conflict of interest”: if this example has spread, many powerful ones would lose their power, and they couldn’t accept it. I’ll explain it to you later; I’m only telling you this because when we leave this place you will find the rest of the people are very different, don’t

“A conflict of interest arises when a trustee has an interest that conflicts with the interest of the organization”. (American Medical Association, 2010).

The treatment of conflicts of interest and other ethical dilemmas that may arise in investment decisions.

“When a buyer awards business to a supplier because the buyer, the buyer’s family, or relatives of the buyer have a direct financial interest in a supplier, this is considered a major unethical practice” (Handfield, Giunipero, Monczka, & Patterson, 2011). The ISM stresses the importance of making sure that a company avoids financial conflicts of interest at all cost. “Even though a conflict may not technically exist, supply management professionals must

S120 Objectivity S120.1 Professional or business judgement cannot be comprised because of conflict of interest or the undue influence of others. (APESB, 2013)

Conflict is inescapable, having the ability to recognize, understand, and resolve conflicts are important in both personal and professional lives. Myatt (2012) states that conflict in the workplace is unavoidable; if left unresolved, workplace conflict may result in loss of productivity and the creation of barriers that can inhibit creativity, cooperation, and collaboration. It is vital to embrace conflict and address problems through effective conflict-resolution tactics because if not handled appropriately, conflict will escalate. “If not handled properly, conflict may significantly affect employee morale, increase turnover, and even result in litigation, ultimately affecting the overall well-being of

Conflict of interest- any relationship, that is not in the best interest of the organization.

Economic science teaches us that due to their subjective needs, individuals have subjective preferences, and hence different interest. Occasionally different subjective interests give rise to conflicts of interest between contracting partners. These conflicts of interest may result in turn, in one or both parties undertaking actions that may be against the interest of the other contracting partner. The primary reason for the divergence of objectives between managers and shareholders has been attributed to separation of ownership (shareholders) and control (management) in corporations. As a consequence, agency problems

The important issue, however, is not whether or not a conflict exists, but how it is handled once it is identified. Conflict can be detrimental to the team effort when it is not addressed quickly, but allowed to grow and widen the gap between those team members whose opinions differ from each other. This tension can lead to decreased productivity and low team spirits, which can negatively affect the entire organization. On the other hand, if conflict is identified and addressed by following a structured process and by involving everyone affected by the conflict, it can result in personal progress for all team members. Another benefit of this progress is the discovery of an actual solution to the initial problem is derived from the conflict.