A conflict of interest occurs when an individual or organization has multiple interests that could potentially influence their decisions or actions. For example, if a doctor has a financial stake in a pharmaceutical company, they might be tempted to prescribe that company's medication over others, even if it’s not the best option for their patient. These conflicts can undermine trust and lead to biased outcomes. In professional settings, it’s important to disclose any potential conflicts to ensure transparency and maintain integrity. Organizations often have policies in place to manage these situations and protect the interests of all parties involved.