Applying "Ethical conflicts for new financial planners" to nursing
The healthcare industry is increasingly faced with demands that it operate more like a for-profit business with a careful eye upon cutting costs. Reviewing managerial concepts intended for business organizations in general can be useful for healthcare institutions such as hospitals, provided the need for quality is not forgotten. This can be seen in the article "Ethical conflicts for new financial planners" from the Journal of Financial Service Providers (Duska 2014). The article notes that financial planners are frequently faced with ethical dilemmas that place their own personal interests at odds with the client's interests. For example, they may be instructed to 'push' a particular product and are told they can benefit from an additional bonus on their commission if they sell it, even though it is not in the client's interest.
Firms often offer trips, bonuses, or even simply reputation enhancement if planners are highly aggressive. But this may not be financially appropriate for the client or the client may simply be risk-averse. The financial advisor is supposed to place the client first but he also has interests in securing his own job; making money (given that his salary is largely commission-based); and also he must serve the additional, competing interests of the firm.
Application to healthcare organization
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