The Balance Between Self-Interest & Conflict of Interest

In the business and public service sectors, balancing self-interest and conflict of interest are important ethical considerations. Acting only in self-interest can create a conflict of interest situation and result in serious charges of ethics violations.

Self-interest is the notion that humans act only for their own benefit. According to researchers at Santa Clara University, in some cases, the benefit of an action is obvious, such as when we act to gain monetary reward or praise. In other cases, acting in self-interest is not so obvious, such as when we help another person in distress to ease our own feelings of shock, fear or worry. On the surface it appears the act was an effort to help another person, but the true motive was self-interest.

Conflict of interest is when someone's responsibility to one party interferes with their responsibility to a third party. For example, a city councilperson who owns a property that is scheduled to be demolished by the city has a conflict of interest. She will not be able to make an impartial decision about the fate of the property due to her interest in keeping it intact.

When self-interest and public or professional interests collide, this creates a conflict of interest. To avoid an ethics violation, you should disclose any potential conflicts, and excuse yourself from voting on or discussing any matters that directly impact your interests.

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