Corporate Governance and Ethics Responsibility



Corporate Governance and Ethical Responsibility

1. Determine at least three (3) different internal and external stakeholders that Dr. Do Right might have to deal with on a daily basis at the hospital. Discuss the duty of loyalty owed to each internal and external stakeholder.

Ans1- It is very important for any hospital to effectively manage their stakeholders in order to carry out their operations in an efficient manner. The approach related to stakeholder assists in meeting out the managerial concerns which is frequently treated in different manners. However, the importance of both internal and external stakeholders is very high for any organization. The internal stakeholders of the hospital are the doctors, nurses and the administration people that play a vital role in the overall operations of the hospital. All these occupational people carry immense importance because of the work that they perform for the welfare of the people like patients (Bentham, 1988). The external stakeholders of the hospital also have an equal importance as compare to the internal stakeholders. The external stakeholders of the hospital would include patients, staff working in the organizations that provides equipment to the hospitals and the people coming from different healthcare organizations that conducts seminars and workshops to create awareness about a certain disease. The biggest external stakeholder of the hospital would include the patients because they are the one to whom the hospital service is delivered. Dr. Do Right would also need to take care of the stakeholders especially for the patients because it is the primary objective of any healthcare institution to look after the patients. The loyalty that will be owed to different stakeholders is not going to be very different because for instance in the case of stakeholders, there were will be a two way case for showing loyalty. The reason is that the employees in the hospital such as doctors and nurses will need to show loyalty to their work and organization as well because it is the basic requirement of their job. Since it was mentioned in the paragraph, that there are many patients who lost their lives because of the illegal procedures performed by nurses and doctors, this was a criminal act and does not show any potential for loyalty. This is not the right thing as it the medical staff who did not perform their task which they were supposed to do. The external stakeholders such as those organizations that provide medicines and equipment to the hospitals also have a lot of responsibility because it is used for the patients. They cannot afford to be negligent in their work which will give a message that they are not loyal to their work. These factors certainly matters for both the internal and external stakeholders. In the end, it can be said that this is going to be the level of loyalty shown by the stakeholders to their work. Dr Do Right will also feel satisfied after all these tasks will be performed by the ...