For an upcoming product launch, a company hires a marketing agency whose owner is a close relative of the Chief Executive Officer. Which of the following did the company violate?
D. Conflict of interest policy
Explanation:
A conflict of interest policy is in place to ensure that business decisions are made without undue influence from personal relationships or interests. In this case, the company's decision to hire a marketing agency owned by a close relative of the CEO creates a conflict of interest, as it may compromise the impartiality of the decision-making process and raise concerns about favoritism or bias.
Breakdown of the other options:
A. Independent assessments: This is about ensuring unbiased evaluations, but the issue here is more about the personal relationship rather than an independent assessment of the product.
B. Supply chain analysis: This relates to evaluating risks and dependencies within the supply chain, which doesn't apply to the situation of hiring the marketing agency.
C. Right-to-audit clause: Refers to the ability to audit a vendor's activities but is unrelated to the personal conflict of interest in the hiring decision.
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