Considering various factors prior to the purchase of a new technological unit is essential for the successful development of the organization. Some researchers state that consulting the stakeholders could be of special significance for the financial results of a given decision (Hein et al., 2020). Even though the topic of economic issues in management is quite broad, it is clear that all the parties involved in the product should be included in decision-making. In this essay, internal and external stakeholders in acquiring a new surgical unit will be presented, and the factors impacting this decision will be explained. Additionally, the reactions of various consumers and other organizations will be discussed.
It is imperative to consider the stakeholders influenced by the resolution. In the example presented, internal stakeholders are most likely to be business partners or investors, which have signed a contract with the healthcare organization (Damanpour et al., 2018). Additionally, the employees of the orthopedic center are also regarded as internal stakeholders (Damanpour et al., 2018). The external parties in this situation can be described as all individuals and companies who are affected by the company’s decisions, such as clients, patients, and suppliers (Damanpour et al., 2018). Altogether, the number of stakeholders of a particular organization varies significantly.
Depending on the resolution implemented, various groups’ profits can be altered in the long-term. It is essential to evaluate the responses, possible to arise from the internal stakeholders of the organization – business partners or the board of directors. From the scenario provided, it is clear that the orthopedic center in question is highly profitable, and the national corporation possesses a large number of other facilities. In this case, the approval of procuring a surgical unit might be beneficial to most internal stakeholders. The business partners and the board of directors might be impacted positively, as their center will present the patients with higher quality healthcare.
However, a different flow of events is possible when considering external stakeholders. As stated by (Hussain et al., 2018), there are additional social factors impacting parties that are not directly affiliated with the business in question. Thus, while some of the consumers might be satisfied with the increased service standards, others might be more skeptical towards new technologies and the CEO’s decisions. The suppliers might also be affected differently, depending on the resources they will be asked to provide after the unit’s acquisition.
Generating a successful solution requires a deep understanding of both external and internal factors of the surrounding environment. As an example of internal factors, the organization’s professional values and policies might be named. The external elements of this situation are likely to be the consumer’s demands. If the center’s clients require better surgical care, the unit’s purchasing can be approved, resulting in positive feedback from the patients.
The organization’s ability to compete can be highly elevated by implementing the surgical unit, as the other companies might not have access to such systems. The clients’ quality of care is likely to increase due to the purchase, which is an essential factor for the organization’s overall affluence. Overall, technological advancement due to the purchase might significantly increase the company’s profitability, creating a lucrative possibility for growth.
To conclude, imperative points regarding stakeholders’ interests were discussed in this essay. Considering the needs of various parties involved in a specific business is crucial for the organization’s development. However, internal and external stakeholders’ concerns seem to be different, so it is vital to consult both of these parties while seeking a profitable solution. Finally, the company’s ability to compete is also dependent on the technological systems available.
Damanpour, F., Sanchez‐Henriquez, F., & Chiu, H. H. (2018). Internal and external sources and the adoption of innovations in organizations. British Journal of Management, 29(4), 712–730. Web.
Hein, K., Knochel, K., Zaimovic, V., Reimann, D., Monz, A., Heitkamp, N., Borasio, G. D., & Führer, M. (2020). Identifying key elements for paediatric advance care planning with parents, healthcare providers and stakeholders: A qualitative study. Palliative Medicine, 34(3), 300–308. Web.
Hussain, M., Ajmal, M. M., Gunasekaran, A., & Khan, M. (2018). Exploration of social sustainability in healthcare supply chain. Journal of Cleaner Production, 203, 977–989. Web.