Stakeholders and Value for Money

Stakeholders and impact on corporate objectives

Employees: Maximize their rewards paid to them in salaries and benefits, most employees want continuity of employment.

Management: Maximize their own rewards and want company to be as large as possible, the objective of reward maximization might conflict with the exercises of this duty

Trade creditors: Being paid the full amount due by the date agreed, continue their trading relationship with the firm

Shareholders: Maximization wealth

Community: Low pollution and high involvement in local issue

Government: Be formulated in political terms

Value for money:

Getting the best possible combination of services from the least resources

Economy: acquire resources of appropriate quality and provide a service of appropriate standard at the lowest cost.

Effectiveness: the product/ service achieve its declared objectives/goals.

Efficiency: show the ratio of inputs: outputs. Relationship between goods/ services produced and the resources used to product them.