A System Thinkingbased Framework for Sustainable Governance in HealthcareVinaytosh Mishra, Majdi Anwar Quttainah
- Strategy and Management
- Business, Management and Accounting (miscellaneous)
- Business and International Management
This study emphasises the importance of thinking beyond the constrictive perspective of shareholder profit maximisation and putting stakeholder value maximisation front and centre in healthcare. This study uses system thinking approaches to understand the pitfall of the narrow approach of shareholder profit maximisation in healthcare organisations. The study further performs stakeholder analysis to identify each stakeholder’s interests, needs, expectations, and level of influence and power over the health systems and policy. The study used multi-criteria decision analysis approach to identify the priority of the stakeholder organisations. The criteria used for the prioritisation are levels of interest, influence, and impact. Contrary to belief pharmaceutical companies were found to be the most significant player in driving the outcomes of the healthcare system. The study also emphasises the role of government and regulators in the achievement of the same. Stakeholder analysis done in the study also concurs with these findings. Finally, the study uses the grounded theory approach to suggest a framework for the achievement of objectives and providing sustainable governance. This study concludes that by thinking beyond shareholder profit maximisation, healthcare organisations can prioritise patient-centred care, social responsibility, and innovation, ultimately leading to better outcomes for patients and society.