Professional Ethics Essay Example | Topics and Well Written Essays - 1500 words

original Ethics - Essay ExampleIt outlines the implications of such behavior and as well discusses professional etiquette. Implications of Conflicts of Interest Conflict of lodge in in the tender management industry is illegal and whitethorn lead to prosecution of individuals or companies that intentionally benefit from the conflict. It leads to award of tenders with total disregard of merit and because some qualified companies may not thrust a chance to undertake the work that they argon competent in. In most cases, tenders awarded on the basis of conflicts of amour eventually fail or the pass judgment outcome is not realized. According to Worthington & Goldsman (1998), the success of a project depends on the sincerity of the involved parties to come across the needs of stakeholders. Conflicts of interests lead to the pursuance of individual benefits while ignoring public interest. The preferred bidder in such a process may quote low prices and eventually end up requesting f or additional funding with excuses of gritty cost of materials or high inflation thereby increasing the cost of a project. Such bidders be to blame for many projects that have turned in to white elephants, yet there might have been genuine bidders who would have accomplished the work at a lower cost (Keyes, 2004). In an economy, companies that do not win contracts as a result of conflicts of interest may become bankrupt in the long-run (OConnor, 2007). On the other hand, those that ar awarded tenders due to their political influence end up having no competitor and therefore they relax in terms of quality standards. A significant loss is see in the economy with regards to the desired impacts of the project, while on the other hand such practices advertise corruption. Oyer (2005) observes that conflicts of interest in the management of tenders in the Philippines have led to an economic decline that has seen the country being overtaken by Thailand despite of having been ahead of i t in the last five decades. In the economies where conflicts of interest are pronounced, transparency and answerableness are concealed from public scrutiny. To avoid the undesirable consequences of conflicts of interest, those involved in tender management should be thoroughly researched to establish if they are personal interests that may hamper the tendering process. Any relationship between the thickening and bidders needs to be investigated to thwart conflict (Gallagher, 2005). If a person in the tendering process is found to promote conflicts of interest, he/she should be disqualified from participating. In some instances when disqualification of a person is impossible, a conflict of interest can be managed through involving a third party to control the conflict. However, setting up of a jurisprudence of ethics in tender management is the most significant tool to guide the tendering process. This is because if the code of ethics is adhered to, it can promote professional eti quette thereby preventing extra-professional affairs that may cause conflicts of interest (Ferrell & Fraedrich, 2009). Professional Etiquette Professional etiquette is a scheme of rules and principles that standardize social and professional conduct. In any system, there are certain set of rules and behaviors that are recognized to have a positive influence on an organizations strategic objectives. Each position in a bureaucratic organization is guided by principles that are endorsed by