Coporate Governance Essay

Submitted By tnglover11
Words: 1564
Pages: 7

Running head: CORPORATE GOVERNANCE AND ETHICAL RESPONSIBILITY

Corporate Governance and Ethical Responsibility
Tiffany Glover
Strayer University

Assignment #3 Submitted in Partial Fulfillment of the Requirements for the Course
LEG 500- Law, Ethics, and Corporate Governance

Judge Mischelle Best
Fall 2012

Corporate Governance and Ethical Responsibility
Discussion 1
Determine at least three different internal and external stakeholders that Dr. Do Right might have to deal with on a daily basis at the hospital. Due to Dr. Do Right high profile position I’m quite sure he has to directly communicate with prominent directors of the hospital but on a daily basis he will deal with the patients, board of directors, medical board, and funders. These are four overall main sectors I assume he would definitely have to deal with frequently. These four are a body of appointed individuals responsible for governing the organization or company whether it s a financial, intelligence, or legal standpoint. Patients are the most vital part of the hospital they are why anything is in existence pertaining to the hospital. That is the main concern because everything else relies on this primary stakeholder. The chart below distinguishes the three internal and external stakeholders that are important to the hospital that Mr. Do Right will have to encounter with daily:
External Stakeholders|Internal Stakeholders|
Patients| Supervisors|
Suppliers|Board of Trustees|
Funders|Employees|

External Stakeholders focus on effectively operating the business from a profit standpoint. (not working directly in the business but are affected by it).Internal Stakeholders are more concern with the paying of employees, caring of patients, and etc. (works directly in the business). Both are equally significant when it comes to making prominent decisions.
Discussion 2
Compare and contrast potential conflicts of interest that may exist between the internal and external stakeholders.
Both internal and external stakeholders pay a vital role in properly governing the duties of the hospital. However there are distinctive functions that are expected of the two that could possibly cause conflicts between the job roles. According to Identifying and managing internal and external stakeholder interests, internal stakeholders participate in the co-ordination, funding, resourcing and publication of the strategy from a local health and well-being partnership. External stakeholders are engaged in contributing their views and experiences in addressing the issues that are important to them as patients, service users, careers and members of the local community. Collectively both of their purposes are to provide a high level of quality of services to better service individuals’ lives in the community but in certain scenarios they may differ when it comes to purposes and priorities on an organization such as: the overall direction of the business and the roles of the stakeholders. The overall direction of the business is basically the company’s mission statement which primarily sums up their purpose of establishing the organization. Once that has been well rooted then the directors will be able to determine the influence and importance of the stakeholders.
Discussion 3
Discuss whether Dr. Do right has fulfilled his ethical duty by reporting the illegal procedures. Even though Mr. Do Right did report the findings to his Regional Director Compliance Manager and Executive Committee, he’s didn’t fulfilled his ethical duty because it still remain unresolved. He neglected to continue reporting it until the committee began to give him responses. Situations such as these can’t go unnoticed because it can overtime build up and everyone will be held accountable even though he partially reported but he didn’t continue to follow up on the situation. That should have been a major concern to him and the committee because they could…