11. Stakeholders of a health care organization are defined as \"people who have

Question

11. Stakeholders of a health care organization are defined as "people who have a direct interest in the organization's success". Are some stakeholders more important than others? Can we give priority to the interests of some group of stakeholders at the expense of others? Express your opinion giving references to the textbook and weekly assignment readings. (i.e. answer the question based on readings you've made throughout the course. You can express your personal opinions where you disagree with the readings. You will not get credit for your personal opinions missing reference to a reading) (200 words at most)

Explanation / Answer

A stakeholder is mainly any entity or individual who is having an interest in the performance of any organization. An organization has a number of stakeholders and if we look closely each stakeholder has different significance. In fact, the level of influence a stakeholder has on the organization varies from one to another on the basis of the business activities’ nature and the power held by them. For example, for any organization, the customers (patients in case of healthcare) are the most influential stakeholders. If we look at the industries which have a greater regulation such as healthcare, - voting on key company decisions Government/regulators often forms the important stakeholders.

Yes, depending upon the level of importance of the stakeholders and their influence on the overall profitability and operations of the organization, it is very important for the organizations to have a priority when it comes to rating different stakeholders. The organizations should focus more on those who have a greater impact, have a larger say( for example a shareholder having the majority of share) as they have the direct or indirect influence on the business or organization.

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