Conflict of Interest: An Ethical Issue in Public and Private Management

Abstract

Conflict of interest has become an interesting issue among stakeholders from public and private sectors. Conflict of interest is an ethical problem that has potential risks in generating severe corruption. The general public perceive it as threats and barriers to national development. In a situation which policy makers and government officials exercise state powers for their private gains it affect public interests. Conflict of interest thus demolishes organizational potentials and obliterates opportunities for long-term national development. This paper has its aims to investigate the meanings and typologies of conflict of interest and to illustrate major components underlying conflict of interest in Thailand's management perspectives. In the paper, policy measures are proposed addressing changes in values and cultural systems. Change leaders as moral leaders are vital to the success in enhancing public consciousness. This could activate the general public to actively participate and engage in social movements to prevent the conflict-of-interest problem in Thai society.