please explain on "conflict of interest"
Hi I came across following two questions by different authors who apparently took different approaches (at least to me so is the reason for request for help to understand)
You and your spouse both work for large companies in differen industries. however, one day you learn that your company will be soliciting bids for a project and your spouse's company intends to bid. Your spouse will not be involved in the bidding process or to bid. Your spouse will not be involved in the bidding process or any of the work it might produce if won. What should you do?
A. request to be transferred off the project
B. Inform management of the situation
C. Say nothing and go on with bidding process
D. Say nothing but setup a system of checks and balances to ensure that your team selects the contractor inpartially
You are assigned to a project that senior management has already decided to outsource. As a project manager, you need to work with the contracts department to select the seller and then oversee the seller through project completion. Company policy requires a project of this size to go through a formal bid process. A vice president in your company tells you his friend owns one of the companies that might mid on the project and company would be an excellent choice as a seller. This vice president has a reputation for making or breaking careers. What is generally the best course of action?
A. Let the evaluation team know that management has a favourite seller
B. Let the procurement department handlle the situation
C. Follow the bid process, and show the vice president why the favoured seller is o risn't the best choice
D. Obtain written permission to bypass the formal bid process
For Question 1, I chose D which is wrong
For Question 2, I chose A which is wrong
Sorry for not putting the correct answers to avoid analysis skewed towards the correct answers but experts on the forum already know the correct answers. Please explain and what is the recommended way to approach such questions. Many thanks for your help