Conflict of Interest

A conflict of interest is achieved when a person's or entity's personal interests or biases one against the other, leading to the compromising of his objectivity or integrity. This conflict may appear in different contexts, for example, in business, government or academia, where financial resources, personal relationships, or different types of loyalty play a role. A corporate executive may also face a cycle of interest conflicts if they own economic interests in a supplier or competitor, which may persistently influence their decision-making process. Likewise, a researcher can experience a conflict if a company funding their study is the one manufacturing the products that are the object of the investigation, which may attract questions about impartiality. Compelling conflict of interest management is among the most required measures to preserve trustworthiness and moral values and protect the interests of different parties. Implementing robust conflict of interest policies, including disclosure mechanisms, plays a big role in the fight for transparency and accountability in professional setups.

Example of Conflict of Interest:

The practical difficulty that stands against researchers in this case would be if a pharmaceutical company interested in the effectiveness of its drug funds the research. In this case, the researchers conducting this study will most likely be under pressure to generate results that support the sponsor, which will affect the main result of the study. As it is, this conflict of interest may result in one-sided research outputs that may ultimately undermine even medical recommendations and medical care alike. We should use transparency measures like omitting financial relationships between scientific researchers and sponsors to prevent such conflicts. Also, procedures of independent monitoring and peer review can be a method to sustain soundness and impartiality of research conclusions. Handling conflicts of interest with such measures contributes to reliance on science research and preserves patients' health by providing an unbiased and precise picture of drugs' potential effects.