GVV (Giving Voice to Values) Assignment PDF

Preview

Summary

GVV (Giving Voice to Values) Assignment from Boston University Fall 2019...

Description

GVV Assignment RESOLVED: I tell the CEO my opinion of the sale. 1. What is at stake for the key parties, including those who disagree with you? What is important to them? The key parties include the CEO, customers, employees, shareholders, and me. The CEO would be wrapped in a state of uncertainty if the sale of the hospital were to actually take place since the new owners might (a) want a new CEO right away, (b) want him to remain as CEO for a period of time to give the new CEO time to adjust or (c) want him to remain as a CEO for an indefinite period of time. On the other hand, if the sale of the hospital were to fall through, the CEO would have to carry the burden of trying to ameliorate the hospital’s financial situation and always be at the edge of his seat due to the thought that choosing a different path than other non-profit hospitals and not selling the hospital amidst financial difficulties could shatter the future of the hospital in his own hands. As for the customers, if the hospital were to be sold and the range of services provided by the hospital were to be reduced, the patients who are in dire need of these services would have their lives at stake. Patients of less profitable offerings such as mentally ill patients would be most affected, even more so if there is no other hospital in the area that provides these services. These patients would have to pay hefty transportation costs to visit the closest hospital routinely. For employees, there is a possibility that they could get laid off if the hospital were to be sold. This possibility would be even higher if the acquiring for-profit institution already have employees with overlapping positions. To the shareholders, selling the hospital might be good news since there is a likelihood for an increase in share price. As for me, at a personal level I have my job and my ability to support my family at stake. I especially want to be able to pay for my son’s high school tuition fees. At the same time, I also really want to support my CEO at a time when he needs me the most. After all that he has done for me, all I can do to show appreciation is stay by her side and reassure her at difficult times like this. However, what troubles my mind the most is that my personal thoughts and values are deeply conflicted with the CEO’s decision to sell the hospital hence I am going to voice my values. 2. What are the main arguments you are trying to counter? That is, what are the reasons and rationalizations you need to address? An argument that I definitely have to counter is the rationalization that it’s really standard practice to sell the hospital since other non-profit hospitals also do the same as a solution to overcome financial difficulties. Another argument I am trying to counter is the reasoning that the decision to sell the hospital is really for the betterment of the hospital. Personally, I might be misunderstood as someone being blinded by my own self-interest and not putting the hospital’s success in front of my fear of losing my job. I might also possibly have to counter the impression that my opinion is of no significance since I just recently finished my MBA and is also new to the C-suite. A personal argument I might hear from the CEO is the fact that I am being disloyal to him when he was the one who promoted me to the Senior Vice President and Chief Operating Officer position. In regards to the questionable assessment of the consultant, two arguments I would have to counter is the rationalization that the consultant had information about the hospital that I

did not know of and the fact that the consultant is far more skilled than me at deciding what action the hospital should take to deal with its financial problems. 3. What arguments or levers can you use to influence those who disagree with you? What is your most powerful and persuasive response to the reasons and rationalizations you need to address? The most persuasive response I could use is to draw attention to the wider purpose of hospitals; hospitals are meant to help patients and save lives so it is indeed counterintuitive if the sale of the hospital puts the lives of some patients in danger. Moreover, to take a utilitarianism approach, not selling the hospital is the option that would be more favorable for the majority of the stakeholders, in particular, patients and employees. To counter the rationalization that selling the hospital in times of a financial stumbling block is an industry practice, I would respond that just because other hospitals chose to not put in the time, effort, and persistence to come up with a better solution doesn’t mean our hospital should do the same; as a matter of fact, our hospital should be the one to break the norm and set a better example for prospective non-profit hospitals. For instance, the hospital should calculate all its costs and see which expenses could be minimized to help ease the financial strain. Regarding the consultant’s assessment, I would bring up about both the possibility of conscious manipulation and the possibility of unconscious misjudgment guided by self-interest. As a close colleague, I would motivate the CEO by saying that he has already successfully solved so many problems that have hindered the success of the hospital in the past and that I believe he has the competency to help the hospital rise above this financial struggle as well. 4. What is your PLAN OF ACTION? To whom should the argument be made? When and in what context? First, I would research on whether there are any non-profit hospitals that have successfully overcame financial difficulties without having to sell to other institutions. If there are, I would look for the exact ways in which they succeeded to do so. I will incorporate these hospitals and their solutions in my argument so that they could serve as an inspiration to seek for other alternatives. I would also find the exact costs of these alternatives to prove that they are indeed feasible. Only after I have all the details down, I would talk to the CEO privately about my opinions of the sale and why I think that we should look for other alternatives. Since I really don’t want to come off as being unfaithful to him, I would try to raise my arguments through a series of cautious and wellthought-out questions instead of being assertive. Only after the CEO agrees with me, I would suggest having a meeting with more consultants, the CFO and the COO to discuss about specific steps to take in order to amend the financial situation of the hospital. I would also recommend that the entire institution from the employees to the CEO be reminded once again about the hospital’s wider purpose....