Ethical and Environmental of Business
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Centurion Media: Doing the Right Thing
In business ethics, conflict of interest problems arise when one person’s best interest is not the best interest of others or organization. It commonly occurs in situations whereby the individual owes the other party loyalty. An example is when an individual is expected to assist two opposing groups where some sort of loyalty is expected. Therefore, an individual may find that he has to betray one company so that the other can benefit. Fortunately, this outcome may be avoided by considering certain solutions. Both groups involved in the conflict of interest should be informed of what the problem is and why it represents a dilemma. It will ensure that measures are considered to avoid the exploitation of one group at the expense of the other. Disclosing the problem is an important step that must always be considered. The conflict of interest is an ethical concern because it may impact others significantly if conscious decisions are not made. That is why it is recommended that the conflict of interest is disclosed to top managers so that measures are taken to see to it that negative consequences are avoided.
Conflict of Interests in Centurion Media: Doing the Right Thing
In this case study, a conflict of interest is identified by Bennett. He believes that Joseph Fowler, the President of the Cable TV Division presents a conflict of interest with the contract he created with Northpark. This is a consumer company that sells advertisements. Therefore, Bennett believes that Fowler may be having some hidden personal agendas since he has stock in that company, and is also a member of the Board of Directors. Also, the contract was deployed in a secretive manner. Bennett only learnt about the contract after he was asked to deploy its content. Bennett is just two years away from retiring. He is worried that if he reports this situation, Fowler will fire him and he will end up losing his financial security. However, it is evident that the contract represents a conflict of interest for Centurion Media which Bennett is loyal to. Thus, the recommendation of disclosing the nature of the contract to Reilley, the CEO should be employed. He should not worry about losing his job and financial security since he will be presenting a possible ethical issue that will save the future of Centurion.
The ethical decision for Bennett is to approach the CEO of Centurion and share his concerns. However, this solution has significant risk since Fowler may decide to fire Bennett for defying his orders and speaking up. There is also the risk of strained relationships in future if the CEO sides with Bennett. Fowler will not be impressed at how Bennett chose to ignore his authority on the matter. Lastly, there is the risk of many other employees losing their jobs for assisting Bennett as he asked questions regarding the contract.