Beth Williams is an exercise physiologist who serves as an expert consultant for Women's Walkers, Inc., a shoe company specializing in manufacturing walking shoes for women. Dr$.$ Williams is paid an annual consulting fee along with additional fees for drafting reports and making media and public appearances for the company. Executive Woman, a national magazine, has asked Dr$.$ Williams to serve as one of three experts on a panel that will evaluate the full market range of women's walking shoes. Dr$.$ Williams will be paid a consulting fee by Executive Woman as well.

Dr$.$ Williams has a conflict of interest and should decline the Executive Woman offer.

Dr$.$ Williams can participate in the Executive Woman panel so long as her affiliation with Women's Walkers is disclosed.

Dr$.$ Williams can participate in the Executive Woman panel if she waives her fee.

Dr$.$ Williams is an academic with no conflict of interest and can participate in the Executive Woman panel.