Cronyism definition
Cronyism means making an employment or contracting decision based upon personal, political, financial, or commercial relationships instead of merit when the person or entity benefitting from the employment, promotion, supervision or contract does not have the qualifications for the position or contract, or is being compensated at a rate that is more than the rate that would be paid other employees or contractors performing the same or similar functions.
Cronyism or “Favouritism” means using or abusing one’s authority to favour friends, colleagues and associates, or groups of people, because of private or professional affiliations or connections. It usually involves the distribution of resources or allocation of employment positions, or contracts, regardless of their objective qualifications.
Examples of Cronyism in a sentence
Cronyism also hinders well-skilled entrepreneurs who have financial capital but no political connections (Haber, 2002).
Cronyism refers to favoritism based on a shared social network (e.g., friendships, schools, fraternities), and is often assumed to be identical to nepotism (▇▇▇▇▇▇ et al., 2006).