Public value is the equivalent of shareholder value in public management. Public value can be instituted as an organising principle in a public sector organisation, providing a focus in the context of which individual employees are free to pursue and propose new ideas about how to improve the working of the organisation, in terms of efficiency or services. Public organisations seeking to use public value as a principle need to create a corporate culture in which the pursuit of public value by employees is rewarded just as pursuing shareholder value is rewarded in private corporations.
Famous quotes containing the word public:
“First in booze, first in shoes, and last in the American League.”
—Administration in the State of Miss, U.S. public relief program (1935-1943)