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Corporate Social Responsibility in Hospitals: Need for Transparent CSR Initiatives for Internal and External Stakeholders

International Journal of Business Ethics in Developing Economies

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Title Corporate Social Responsibility in Hospitals: Need for Transparent CSR Initiatives for Internal and External Stakeholders
 
Creator Leela, Vedantam; Assistant Professor, Faculty of Management Studies, National Law University, Jodhpur, Rajasthan, India. Email: leela_vedantam@rediffmail.com
 
Subject Corporate Social Responsibility (CSR), Financial Performance, Reputation, Healthcare Services, Corporate Hospitals.
 
Description Social Responsibility initiatives are the indispensible strategies for governance and this applies equally well in the field of Corporate framework also. In the recent times, the corporate houses other than healthcare industry, evidently demonstrated that strategic balance among social, environmental, and commercial goals can be accomplished. Corporate hospital’s contemporary functioning rests on the anarchic assumptions that healthcare industry functions on the notion that “what is good for patients or society cannot be good for business”. At a time when patients are overexposed to medical procedures and medical treatment is within the reach of affordability of only those who are well insured, there arises a question,‘is it not essential for corporate hospitals to adopt CSR initiatives’. An important corollary question, that also needs to be examined, is whether and for what reasons CSR initiatives must be nurtured by Corporate Hospitals. Drawing up from the existing research studies on CSR in corporate hospitals in Indian scenario i.e., corporate hospitals and healthcare sector, this paper (i) undertakes a thorough examination of the CSR initiatives needs a thorough examination; (ii) examines the implications of modelling of CSR in corporate hospitals so as to create a right balance between their social and economic objectives; (iii) to this extent, the paper ‘hypothesizes’ that (a) employee costs of corporate hospitals may positively increase due to CSR initiatives; (b) profit maximization i.e. positive increases due to CSR initiatives; and (c) the degree of workforce efficiency positivelyincreases sales turnover due to CSR initiatives.
 
Publisher Publishing India Group
 
Date 2015-07-19
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.myresearchjournals.com/index.php/IJBEDE/article/view/3108
 
Source International Journal of Business Ethics in Developing Economies; Vol 3, No 1 (2014)
2278-3172
 
Language eng
 
Relation http://www.myresearchjournals.com/index.php/IJBEDE/article/view/3108/3036
 
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International Journal of Business Ethics in Developing Economies