Public Value: Deepening, Enriching, and Broadening the Theory and Practice

Over the last 10 years, the concept of value has emerged in both business and public life as part of an important process of measuring, benchmarking, and assuring the resources we invest and the outcomes we generate from our activities. In the context of public life, value is an important measure on the contribution to business and social good of activities for which strict financial measures are either inappropriate or fundamentally unsound. A systematic, interdisciplinary examination of public value is necessary to establish an essential definition and up-to-date picture of the field. In reflecting on the `public value project', this book points to how the field has broadened well beyond its original focus on public sector management; has deepened in terms of the development of the analytical concepts and frameworks that linked the concepts together; and has been applied increasingly in concrete circumstances by academics, consultants, and practitioners. This book covers three main topics; deepening and enriching the theory of creating public value, broadening the theory and practice of creating public value to voluntary and commercial organisations and collaborative networks, and the challenge and opportunity that the concept of public value poses to social science and universities. Collectively, it offers new ways of looking at public and social assets against a backdrop of increasing financial pressure; new insights into changing social attitudes and perceptions of value; and new models for increasingly complicated collaborative forms of service delivery, involving public, private, and not-for-profit players.