Ethical Responsibility Research Paper

Answer 1Types of stakeholdersInternal stakeholders are the ones that are related with the company internally. These are those people who live inside the company and gain directly when the organization grows and prospers. These are the people who work for the organization and whose future is dependent on the rise or fall of the organization directly. The key internal stakeholders in a hospital setting are the technical staff (doctors and nurses), marketing staff, accounting staff. Not only the doctors and nurses but all the maintenance staff, canteen staff, engineering staff, are all included in the list of internal stakeholders (MD, 2003). External stakeholders are those people who do not reside inside the organization but affect the working of the organization. These are those type of stakeholders who influence the working of an organization. These are those people who buy the product offered by the organization and give their valuable feedback on the service so offered (Werner, 2012). In case of hospital patients, government, legal advisors, pharmaceutical companies, insurance companies constitute as the key external stakeholders. Answer 2Conflict of interest between internal and external stakeholdersEvery stakeholder has different objective which it strives to achieve through his contribution