Sharing Daily Discoveries About Personal Finance And Business Topics

Conflict of Interest Work Bidding or Not

This was a fascinating story I heard today. Imagine a building requiring some kind of work done such as repairs needing done or having to paint the entire building. Normally what would happen is that people would find quotes from different suppliers and then choose based on the pool of companies. In this case though one of the suppliers happens to be a tenant of the building. So what apparently happened is that the person who lived in the building found out what every company was bidding and then undercut them all to win the bid.

It’s interesting as some see that as the person being generous whereas others see it as a conflict of interest. This apparently has been happening for years too. I would be inclined to say it is a conflict of interest as it feels more like the person taking advantage of the situation to get some big business. I was thinking for the other businesses too they are probably scratching their heads on why they aren’t winning bids if they offer what seems to be the best quality and value on the market.

Like here, many times there is an insider factor of sort that you don’t have any control over. You just need to bid on as many different projects as possible versus always thinking there must be something wrong with your offering.


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