Manfold Case Study Essay Example | Topics and Well Written Essays - 750 words

Manfold Case Study - Essay Example The plastic airbeds were a huge success and formed about 12.3 % of the company’s sales (Van den 1). However, in 2007, Joseph, who was the founder wanted to retire from business and in connection to this, he wanted to sell his shares that were about 68 % to Mitchell & Meyer, which is an American equipment manufacturer. It is at this point that the conflict of interest arose between the key players in the Manfold Toy Company. Conflict of interest occurs in work environment when a person is in a place where they can be influenced. The influence can be because of personal interest that an individual has on something. A conflict of interest can be because someone is avoiding personal disadvantage, or it can be because someone wants to take advantage of a particular situation. There are three different types of conflict of interest. The first one is the actual conflict of interest; this is where an employee is in a position to be influenced by their own personal interest when carrying out their responsibilities. The second one is perceived conflict of interest, in this case the employee appears to be influenced by their private interest when doing their job. Finally, is the potential conflict of interest, in this case the employee is in a place where they may influenced in the future by their private desires when carrying out their work. In the case of study there are various conflict of interests, for example, Fred who was an independent non-executive director (INED). He was also the chairman of the audit committee is in a position where his job seems to put him in a conflicting of interest with his boss; Joseph, who is also the founder of the company. Given that Joseph have told him about his intention of selling the business to Mitchell and Meyer Company. However, he knows that Yee Exports that are the sole distributor of Manfold Toy Company in New Zealand and Australia is almost becoming bankrupt. However, he is not sure about