Business Ethics in the Globalised Economy Essay

Business Ethics in the Globalised Economy - Essay Example While, The not-for-profit centers, which normally operates as a voluntary or charitable body has totally different form of administrative frame work . And, finally the government run institutions are the other type of systems that are usually fully funded by the government. The differences in the systems of administration are also reflected in their operations and functional outputs. The charitable hospitals have severe constrains on the resource generation and they mostly depends on the philanthropic contributions. Thus they are unable to attract the best talents in the respective fields which affect the quality of delivery. Bureaucratic set up, feeble decision making process, inadequate doctors and other support personal are the major issues affecting the smooth function ofa governmenthospital. But on the other hand a private hospital often tries to attain the premier position as their revenue is dependent on the patient volume alone. Well established management team, efficient doc tors and other par medical staff are the major attractions of the private hospital. But in the event of a economic slow down, the government hospitals are the least effected and the private hospitals often tend get affected at a higher magnitude. Thus unethical practices are said to be more possible and takes strong roots in these circumstances. And hence necessary pragmatic ethical policies need to be in place to ensure a well acceptable medical delivery system (Health Care). Due to these reasons the health care industries are chosen for the detailed analysis on the ethical practices in the business. Backgorund A good performing hospital would consist of a team of efficient doctors coupled with skilled support personnel, along with the well established equipments and diagnostic devices. Often the cost of health care has been experiencing high rate of increase which often makes the quality treatment inaccessible for most of the people. The ethical practices that are prevailing in these places need to be of highest level as it involves a matter of human and health (Health Care). The present situation of turbulent business weather has severe impacts of the operation of this industry too. The loss in jobs and reduced remuneration levels have started forcing people to opt for less costlier options, thus making all the premier health care operators not the prime choice of most of the medical attention seekers. But these situations too are not without solutions. Even during the period of recession and job losses, it is the responsibility of the company to deliver and support the desired level of service to the customers while considering the needs and aspirations of the employees (Wise Geek). Before moving into a deeper introspection of the analysis of various ethical models, it would be very prudent to have an overall assessment of the corporate practices, where business objectives could ride over the ethical rules. Besides evolving a pragmatic means of ethical practices, this sector could also motivate and hence create an attitude to implement a value-based operation in other sectors too (Health Care). Based on the detailed analysis available theories and models following initiatives are proposed for effectively implementing ethical practices during the turbulence experienced in the global economy. Promoting the concept of general well being as the organizational mandate. The