Leg 500: Assignment 3: Corporate Governance and Ethical Responsibility
Assignment 3: Corporate Governance and Ethical Responsibility
LEG 500 - Law, Ethics, and Corporate Governance
1. Determine at least three different internal and external stakeholders that Dr. DoRight might have to deal with on a daily basis at the hospital.
Stakeholders are individuals who are involved in, have a vested interest in, or a “stake” in the success of an organization (Merriam-Webster, 2011), such as a hospital. Dr. DoRight is an influential decision maker as the President of the Universal Human Care Hospital and it is important for him to consider how his decisions and actions affect the stakeholders of the hospital. In the course of his daily activities Dr. Do Right will interact and impact many of the hospital’s internal and external stakeholders.
Internal stakeholders are be committed to an organization’s success. Often internal stakeholders will participate in the strategic development of coordinating resources to fund and sustain an operation. Examples of internal stakeholders which Dr. DoRight might engage daily would be: Director of Public Health, Head of Health Intelligence and Information, Director of Nursing, Public Health Strategists, Vice President of Human Relations or Members of the Board of Trustees (Markwell, 2010).
External stakeholders are not directly connected to the organization; however, they are vested in the hospital’s success as clients, business or community partners. These stakeholders have influence over organizational activities by contributing their views and experiences related to issues which are important to them. Medical providers or suppliers, Patient Advocacy Groups, Quality Assessors, the Media, and Heads of Local Community and Special Interest Groups are examples of external stakeholders Dr. DoRight may deal with on a daily basis (Markwell, 2010). 2. Compare and contrast potential conflicts of interest that may exist between the internal and external stakeholders.
Conflicts of interest exist
LEG 500 - Law, Ethics, and Corporate Governance
1. Determine at least three different internal and external stakeholders that Dr. DoRight might have to deal with on a daily basis at the hospital.
Stakeholders are individuals who are involved in, have a vested interest in, or a “stake” in the success of an organization (Merriam-Webster, 2011), such as a hospital. Dr. DoRight is an influential decision maker as the President of the Universal Human Care Hospital and it is important for him to consider how his decisions and actions affect the stakeholders of the hospital. In the course of his daily activities Dr. Do Right will interact and impact many of the hospital’s internal and external stakeholders.
Internal stakeholders are be committed to an organization’s success. Often internal stakeholders will participate in the strategic development of coordinating resources to fund and sustain an operation. Examples of internal stakeholders which Dr. DoRight might engage daily would be: Director of Public Health, Head of Health Intelligence and Information, Director of Nursing, Public Health Strategists, Vice President of Human Relations or Members of the Board of Trustees (Markwell, 2010).
External stakeholders are not directly connected to the organization; however, they are vested in the hospital’s success as clients, business or community partners. These stakeholders have influence over organizational activities by contributing their views and experiences related to issues which are important to them. Medical providers or suppliers, Patient Advocacy Groups, Quality Assessors, the Media, and Heads of Local Community and Special Interest Groups are examples of external stakeholders Dr. DoRight may deal with on a daily basis (Markwell, 2010). 2. Compare and contrast potential conflicts of interest that may exist between the internal and external stakeholders.
Conflicts of interest exist
References: Halbert, T. & Ingulli, E. (2012). Law, Ethics, Business. In Law & Ethics in the Business Environment (7th ed.). Mason, OH: South-Western Cengage Learning. Markwell, S. (2010). Health knowledge. Retrieved from http://www.healthknowledge.org.uk/public-health-textbook/organisation-management/5b-understanding-ofs/managing-internal-external-stakeholders Merriam-Webster. (2011). Stakeholder. In Merriam-Webster Dictionary. Retrieved from http://www.merriam-webster.com/dictionary/stakeholder Wiseman, B. (2005). Who are the stakeholders in healthcare?. Retrieved from http://patientsafetyed.duhs.duke.edu/module_a/introduction/stakeholders.html