Q1. You head the public relations department of the state’s largest bank. The department is responsible for putting together a quality service recognition program. Your bank’s public relations agency is designing the advertising speciality components for the program targeting the bank’s 10,000 employees. Your spouse owns X Promotions, the largest advertising speciality firm in the state. The company offers the best prices for large orders. X Promotions has supplied products for a number of other accounts of the public relations firm. This is the first time, however, that the public relations firm has used X Promotions for a bank project. The public relations firm does not know that your spouse owns X Promotions. You have not suggested the use of X Promotions. The public relations firm has made its recommendations to you, including using X Promotions as the vendor for the quality service recognition program. What should be your next course of action – with the public relations agency, your management team and your spouse? Also, answer the following:
- The ethical issue and/or conflict involved.
- Internal/external factors that may influence the decision.
- Identify key values. Student Notes:
- Identify the parties who will be affected and define the public relations professional’s obligation to each.
- Select ethical principles to help the decision-making process
- Make a decision and justify it. (250 Words 20 Marks)
Answer:
Stakeholders Involved:
- State’s Largest Bank.
- Head of Public Relations Department.
- Spouse of Head of Public Relations Department.
- Public Relation Firm.
- The ethical issue and/or conflict Involved:
- Do I inform my bank’s management about the potential conflict of interest?
- Should I ask the public relations firm to select another vendor?
- Should I let the public relations firm pick the vendor? After all, I didn’t force them to pick my spouse’s company. X Promotions did have the best price.
- Internal/external factors that may influence the decision.
- Conflict of interest policy at the bank
- Conflict of interest policy of public relations firm
- Responsibility to employees
- Identify key values.
- Honesty: We adhere to the highest standards of accuracy and truth in advancing the interests of those we represent and in communicating with the public.
- Expertise: We build mutual understanding, credibility, and relationships among a wide array of institutions and audiences.
- Independence: We are accountable for our actions.
- Loyalty: We are faithful to those we represent while honouring our obligation to serve the public interest.
- Fairness: We deal fairly with clients, employers, competitors, peers, vendors, the media, and the general public
- Identify the parties who will be affected and define the public relations professional’s obligation to each.
- Bank management – Loyalty and Honesty.
- Bank employees-Fairness
- Select ethical principles to help the decision-making process
- The core principle of the “Conflicts of Interest” – avoiding real, potential or perceived conflicts of interest builds the trust of clients, employers, and the public.” The intent of this provision is: “To earn trust and mutual respect with clients or employers,” and “To build trust with the public by avoiding or ending situations that put one’s personal or professional interests in conflict with society’s interests.”
- Building trust with the employees is key in this case. Even though the use of your spouse’s company would most likely result in a good and best price for the bank, letting the public relations agency use the company to supply the components for the quality service program would present a definite conflict of interest. You should immediately notify the public relations agency not to use your spouse’s company as a vendor for this and all future bank programs.
You should explain that employees might perceive a conflict of interest and that the perception would damage mutual understanding and credibility. The lack of trust by employees might be extended to the entire management of the bank.
The loss to your spouse’s company might be substantial, but you need to put the interests of your employer and its employees before your personal interests. Even if you revealed the conflict to your bank’s management team, and they approved the supplier, employees might still perceive that you personally benefited from the bank using your spouse’s company as a supplier. Avoiding the conflict would guarantee continued mutual respect between you and the employees.