What does the term "conflict of interest" refer to in a professional context?

The term "conflict of interest" in a professional context specifically refers to a situation where an individual's personal interests—whether they are financial, social, or otherwise—clash with their duties and obligations to an organization. In this scenario, the individual may face a dilemma because their motivations may not align with the best interest of the organization or its stakeholders. This type of conflict can lead to ethical concerns, where decisions made by the individual could be influenced more by their selfish interests rather than the responsibilities they hold to their organization or the public.

Conflict of interest is pivotal in various fields, especially in healthcare, where professionals must prioritize patient welfare and organizational ethics. Understanding this concept helps maintain integrity within professional practices by ensuring that personal benefits do not overshadow obligations to the organization or its clients.