What does the term 'Conflict of Interest' refer to?

The term 'Conflict of Interest' refers to a situation where a person's personal interests—or the interests of someone connected to them—clash with their professional duties or responsibilities. This can lead to biased decision-making or actions that may not serve the best interests of their clients or organization.

Understanding this term is crucial for professionals in fields like interior design, as maintaining the integrity and trust of client relationships is paramount. When personal gains, such as financial interests, familial relationships, or affiliations with other entities, influence a designer's decisions or recommendations, it can jeopardize the quality of the work and the trust clients place in their professional advice.

It's also important to note how this concept intersects with codes of ethics in various professions, highlighting the necessity for transparency and disclosure in situations where such conflicts may arise to mitigate risks and uphold professional standards.