Leg 500 Law, Ethics and Corporate Governance

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LEG 500 Law, Ethics and Corporate Governance ] Assignment #3 – Corporate Governance and Ethical Responsibility In the corporate world there exists a great deal of ethical and legal responsibility. When the medical field combines with the corporate world there is a whole new element of responsibilities. “The dilemma in Healthcare today is how to provide high-quality healthcare while keeping the costs at a minimum” (Oddo, 2001 p. 125). The number of stakeholders is enormous with various needs that must be met. We will look at the stakeholders and their needs and any conflicts that might exist. We will explore the ethical dilemmas that Dr. DoRight faces in his daily job of overseeing Universal Human Care Hospital. Determine at least three (3) different internal and external stakeholders that Dr. DoRight might have to deal with on a daily basis at the hospital. Discuss the duty of loyalty owed to each internal and external stakeholder. There are various different internal and external stakeholders that Dr. DoRight has to deal with on a daily basis. Healthcare is a business and is it important to identify the stakeholders because they are the reason for the business. Some stakeholders also have a major influence on how successful the business will be. One major stakeholder in this case is the patient. This is the reason why the hospital is in business, to provide medical care to the patient. Dr. DoRight has an ethical duty to his patient as their treating physician to provide quality medical care that addresses their medical needs. As an administrator of the hospital, this ethical duty extends to all of the hospital’s patients. The patient comes to the hospital with their family members and next of kin, who are also stakeholders. They all expect the doctors who work at the hospital, including Dr. DoRight, to fulfill their oath in treating their
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