Discuss the role of ethics in financial decision-making

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Reference no: EM133874524

Question

"Discuss the role of ethics in financial decision-making within healthcare organisations. How do various sources of ethics influence financial management, and what are the challenges of applying ethical theories such as utilitarianism and deontology in practice? Additionally, examine the role of key players in risk management and financial control, and how these factors contribute to reducing financial risks in healthcare organisations."

Key Points to Cover:

Sources of Ethics: Explore the different sources of ethics (personal, cultural, religious, and professional) that influence financial decision-making.

Ethical Theories: Discuss the application of ethical theories, such as utilitarianism and deontology, in financial management, and the challenges involved.

Role of Financial Managers and Stakeholders: Examine the roles of financial managers, board members, clinical staff, and external stakeholders in financial decision-making.

Risk Management: Analyze the importance of financial risk management and strategies for mitigating financial risks.

Financial Control: Discuss how effective financial control helps reduce risks in healthcare organisations.

Reference no: EM133874524

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