Designing The Model Of Public Value Management

It is vital for public managers in order to improve performance, to develop a public value account that captures a philosophical and political conception of public value, and use that set of measures in the development of a management system that can increase accountability and drive the performance to new heights. This paper’s main objective is the analysis of the model of public value management, as a new approach to public governance, beyond the new public management. This new model allows the orientation towards stakeholders, especially towards the new value brought by them, which leads to applying the corporate governance principles in the public area. Throughout the paper, the main advantages of this model of management are highlighted, i.e. the improvement of efficiency, equity and efficiency in providing services, the introduction of new programs to meet the new political aspirations or the new challenges facing the organization, the reformulation of the organization’s mission, thus using old capabilities more efficiently. The management of the public value emphasises both the processes and the results, and the citizens are regarded as shareholders, which gives new values to this concept. Based on the scientific research in specialized literature and on observations, we have outlined the main theoretical, methodological and conceptual boundaries and highlighted the ways of measuring the public value.