What are some examples of conflicts of interest and how can they impact decision-making processes?

Conflicts of interest occur when a person's personal interests interfere with their professional duties. Examples include a doctor prescribing unnecessary treatments for financial gain or a politician making decisions to benefit a family member's business. These conflicts can lead to biased decision-making, compromised integrity, and a lack of objectivity, ultimately undermining the fairness and credibility of the decision-making process.