"Conflict of interest"

[LeTyan]

Hi,

I am not quite sure about the usage of the phrase "conflict of interest". When I looked it up on Wiki, it gave me an outrageously long definition like those written by professors from business schools. So my question is, can that mean what it seems literally?
For example. " If you are working in a company, you and your co-workers will inevitably have some conflicts of interest." Does this sentence make sense?

Thank you!

 

[Roman55]

I am not a teacher.

No, it doesn't really make sense.

"If you are working in a company, you and your co-workers will inevitably have some conflicts." makes more sense, although it isn't inevitable.

A 'conflict of interests' is about the conflicting interests of a person or organization, not the conflict between the interests of different people or organizations.

 

[SoothingDave]

If you are a judge, for example, and you are also the owner of stock in a company, then you have a conflict of interest if a case comes to your court that involves this company.

You have one interest in the company doing well so that you will profit from your investment.
You have another interest in seeing that justice is done for the people of your country in your courtroom.

Any ethical judge will recuse himself from the court case (have another judge handle the case) because of the conflict of interests.

 

[Tdol]

A conflict of interest is something that may prevent you from acting in an impartial or unbiased manner. A politician in the UK who was on the Energy and Climate Change Select Committee recently was accused of this because he was being paid by energy companies.

 

[LeTyan]

So would it make sense if I write it as "employees working in the same company may have some sort of conflicts related to personal interest (e.g. only one opportunity for promotion at a time and etc." ?

 

[riquecohen]

So would it make sense if I write it as "employees working in the same company may have some sort of conflicts related to personal interest (e.g. only one opportunity for promotion at a time and etc." ?

No. Please reread posts 3 and 4 for excellent examples.

 

[MikeNewYork]

"Conflict of interest" is a fixed phrase with a specific meaning. It does not apply to routine workplace disputes.

 

[Raymott]

A conflict of interest happens in one person. It has nothing to do with conflicts between people or conflicts between a person and a company. It's a conflict between one interest of a person and another interest.
"Interest" here doesn't mean something you are interested in. It means something you have a stake in, or a responsibility for. It's an ethical matter.
I'm tempted to give another example, but it wouldn't be any better than those of posts #3 and #4.
LeTyan, what do understand about the conflict in either Dave's or Tdol's example?