‘We Do Much More Than Norms Require’: Making Sense of Family-Owned Healthcare Firms’ Profitability and Ethics

Q4 Business, Management and Accounting
Esa Hiltunen, R. Holopainen, Kang Li
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引用次数: 2

Abstract

To address the literature gap regarding the business ethics of family firms in the healthcare sector, this case study investigates profitability and business ethics from the perspective of a very successful Finnish private healthcare company. The study combines business ethics and sensemaking theories to provide a broad view of the company’s performance and stimulate new thinking about the relationship between ethics and profitability in private healthcare. Company’s profitability requirements seem to elicit disapproval from the public. This study examines how a private, family-owned healthcare company combines business ethics and profitability successfully in its operations and how this family-owned company has successfully constructed a plausible, trusted and ethical identity. The theoretical framework of this study is based on business ethics, profitability, trust and sensemaking theory. The study shows that the case company has worked tirelessly to maintain high ethical practices and standards in providing excellent care and enjoying high profitability. By achieving high standards of business ethics and maintaining good social relations with stakeholders, the company has developed a plausible and trustworthy identity, while continuously improving its operations. The case shows that the surrounding environment, in particular, places significant pressure on the case company’s daily activities and management. Even when customers (municipalities and residents) are very satisfied with the quality of care, this does not automatically lead to performance and profitability in the short term. Profitability as a value creation can also depend on personal relations and trust fostered between the company and its stakeholders. Thus, applying sensemaking theory, profitability means company’s ongoing sensemaking about the plausibility of its actions and reading cues within the environment now and for the future.
“我们做的远远超过规范要求”:理解家族医疗保健公司的盈利能力和道德规范
为了解决关于家族企业在医疗保健行业的商业道德的文献差距,本案例研究从一个非常成功的芬兰私人医疗保健公司的角度调查盈利能力和商业道德。该研究结合了商业道德和意义构建理论,提供了一个公司绩效的广阔视角,并激发了对私营医疗保健中道德与盈利能力之间关系的新思考。公司对盈利能力的要求似乎引起了公众的反对。本研究考察了一家私营家族医疗保健公司如何在其运营中成功地将商业道德和盈利能力结合起来,以及这家家族企业如何成功地构建了一个可信、可信和道德的身份。本研究的理论框架是基于商业伦理、盈利能力、信任和意义制造理论。研究表明,该公司在提供优质护理和享受高盈利方面,一直孜孜不倦地保持高道德规范和标准。通过实现高标准的商业道德和与利益相关者保持良好的社会关系,公司在不断改进其运营的同时,建立了一个可信和值得信赖的身份。案例表明,特别是周边环境给案例公司的日常活动和管理带来了巨大的压力。即使客户(市政当局和居民)对护理质量非常满意,这也不会在短期内自动带来绩效和盈利能力。盈利能力作为一种价值创造,也取决于公司与其利益相关者之间培养的个人关系和信任。因此,运用语义构建理论,盈利能力意味着公司对其行为的合理性进行持续的语义构建,并在当前和未来的环境中阅读线索。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
South Asian Journal of Business and Management Cases
South Asian Journal of Business and Management Cases Business, Management and Accounting-Management of Technology and Innovation
CiteScore
1.70
自引率
0.00%
发文量
19
期刊介绍: South Asian Journal of Business and Management Cases (SAJBMC) is a peer-reviewed, tri-annual journal of Birla Institute of Management Technology, Greater Noida (India). The journal aims to provide a space for high-quality original research or analytical cases, evidence-based case studies, comparative studies on industry sectors, products, and practical applications of management concepts. The journal likes to publish problem-solving, decisional and applied types of cases. Such cases must have linkage with theory, at least one dilemma (also known as case issue) and a protagonist around whom the case issue will revolve. Publication of pure research, applied research and field studies with empirical data do not fall under the domain of SAJBMC. Fictitious cases are not welcome.
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