Introduction Ethics and responsibility in healthcare is not solely about the decision making done at the patients’ bedside. Rather, it also encompasses decisions undertaken by executives and board of directors in their corporate positions and offices. Corporate ethics and responsibility in healthcare offer viewpoints that can aid healthcare managers accomplish the utmost ethical standards as they undertake their providers of healthcare services, employers, in addition to entities for community service.

Addressing corporate ethics and responsibility issues within a healthcare entity begins the compliance of the pertinent legislations and codes of practice. As a provider of high quality patient care with scarce resources, there is the need to have the ability to make a distinction between the inappropriate and appropriate methods of taking expense into account when making decisions regarding practices and processes of patient care. Secondly, as an employer, there is need for the entity to utilize proper criteria for ascertaining remunerations and wages, making equitable decisions regarding downscaling and to react most suitably to personnel walkouts and union endeavors. As an entity for community service, it is imperative to comprehend the accountabilities to the society in the manner of advertisement, disposition of medical left-over, and the kinds of business unions to enter (Weber, 2001).

Review of Literature

Organizational ethics is primarily concerned with aspects regarding integrity, responsibility, and choice. It encompasses a detailed framework that comprises of the generation and execution of practices, processes and policies that endeavor to make certain that the performance of an entity is incessant with its main purpose of ethical objectives. It is therefore pivotal that the challenge of maintaining institutional integrity in healthcare be set in a way that acknowledges several stakeholder associations, the responsibilities owed to them and the impact of stakeholders on the standards, decisions, and actions of health care organizations (Reiser, 1994).

In accordance to a research study undertaken by Gallagher and Goodstein (2000), the occurrence of corporate ethics issues within the health care setting are a significant result of the constantly transforming structure of health care delivery. The authors lay emphasis on three fundamental themes associated to corporate ethics and health care ethics, comprising of integrity, responsibility and choice. Imperatively, these three aspects are assumed in a deliberation of the process of Mission Discernment as it has been established and carried to within an assimilated healthcare system. The authors delineate the manner in which practices of organizational reflection can benefit health care organizations to make pivotal choices in tempestuous settings that advance the core mission and values and accomplish organizational responsibilities to a wide variety of...

However, in the health care industry, the advancement of attention in this matter is quite recent. In accordance to Russo (2016), despite the fact that several practices in the healthcare setting are already socially responsible, evolving from a series of socially responsible conduct to a socially responsible entity encompasses a more amalgamated cognizance of the mission and the needs of the participants in the health sector. The author emphasizes that health organizations can utilize their resources in such a manner as to efficaciously and suitably satisfy the health needs of the population they serve.
Based on the article, Russo (2016) insists that mutual governance, individual and professional responsibility, an all-inclusive approach in medicine and collaboration for the good of the organization in addition to that of the health of the patient are key components that constitute corporate ethics and responsibility in healthcare and can result in sufficient satisfaction of needs.

Changes in contemporary societies instigate the discernment and opinion that ethical behavior is pivotal in organization’s practices particularly in the manner they cope with aspects of the society. By ethics and social responsibility, it is intended that healthcare organizations can meet their key goals and objectives of achieving a certain public effort or of increasing the profits of the shareholders but at the same time satisfying other significant objectives with respect to the satisfactions of the interests of shareholders. Most of all, this is done in moral manner that if full of integrity, transparency and responsibility (Brandao et al., 2013).

In accordance to the authors, the key instigators of corporate governance are to improve the performance of the organization and guaranteeing its social responsibility and receptiveness specifically with respect to the pursuit of the common good, and to encourage conformity with respect to accountability engagements in an equitable and transparent manner. In order to achieve these purposes, an intricate system of internal and external controls is more often than not developed. Open accountability is the innate print of good corporate governance through the presence of public comprehensive processes for assessing the health care organization activity, with complete public statement, inclusive budgeting, fair complaint measures, satisfactory privacy protection, external audit, financial statement and annual report, in addition to internal audits, ethical standards, revelation of directors’ performance and compensation and performance assessment (Brandao et al., 2013).

Reddy and Mythri (2016) lay an emphasis on the necessity for teaching and exercising professional ethical codes and for being warned regarding the free…