Corporate Governance and Ethical Responsibility

Table of Contents

Introduction3

Internal Stakeholders3

Physicians3

Nurses4

Administration Managers4

External Stakeholders4

Patients4

Suppliers5

Community5

Potential Conflict of Interests5

Deontology Principle6

Utilitarianism Principle8

Conclusion9

References10

Corporate Governance and Ethical Responsibility

Introduction

In today's professional and demanding environment, competition has reached to an alarming level. As a result, a lot of scandals relating to ethics have generated. In order to deal with these issues, it's necessary that Organizations employ the concepts of Deontology and Utilitarianism. They would not only help us in addressing the issues but also will give us solutions to avoid these scandals in future (Butts, n.d).

Dr. Dolittle needs to get the root cause of the poor performance of the doctors and nurses. Due to their poor performance, there has been an enormous increase in the casualties. The corrupt practices have led to the unethical behavior of Doctors and Nurses. There are multiple internal and external stakeholders that have a direct effect on the performance of a healthcare Organization. The major Internal and External Stakeholders having a direct impact on a Hospital are discussed below:

Internal Stakeholders

Physicians

Physicians are directly involved in providing healthcare services to its patients. They form the crux of Internal Stakeholders when we consider the Healthcare Industry. In order to felicitate the patients, Physicians play a major role. Patients judge the quality of treatment based on a physician's dealing with them. A Hospital cannot run without the services of Physicians. The efficiency of healthcare Institutions largely depends on the services of Physicians. Physicians must be given sufficient importance as they form a core part of Internal Stakeholders (Sirgy, 2002).

Nurses

The second most important group in Internal Stakeholders are the Nurses. Nurses are responsible to assist the Physician in meting out treatment to the patient. They also play an important role in the overall service being provided to the patients. The empathetic attitude of nurses plays a vital role in allaying fears of patients. Nurses address emotional needs of patients to a great extent (Lasala et al, 2010).

Administration Managers

The role of Administration Managers is very crucial in policy making. They are the ones who are responsible to formulate policies and address human relations issues. If a healthcare Institution is to function in an efficient manner, the role of Administration Managers cannot be ignored. They lay the foundation for a Healthcare Institution's success.

External Stakeholders

Patients

Patients or customers of Healthcare Institutions are the most important group in External Stakeholders. For any Organization to be successful, the focus on customer is essential. All the policies and strategies are designed keeping the customer's needs in mind. All the energies of employees should be devoted towards felicitating customer's needs. Patients are the ones that bring business for the Organization. They should be the focus of our attention.

Suppliers

Another essential group in External Stakeholders are the Suppliers. Suppliers are the ones who supply us with technological machines, raw materials, latest equipment to comprehend our services. Technology is an important aspect in the healthcare Industry. Suppliers not only provide us with the latest equipments but also give us suggestions regarding the latest trends prevalent in the ...