Stakeholder Prioritization in Infrastructure Asset Decisions

Running head: FINANCIAL ACCOUNTING THEORY
Financial Accounting Theory
Name of the Student
Name of the University
Author’s Note

FINANCIAL ACCOUNTING THEORY1
Table of Contents
Summarization of the Article.....................................................................................................2
1. Introduction........................................................................................................................2
2. Objectives and Motivation.................................................................................................3
References..................................................................................................................................5

FINANCIAL ACCOUNTING THEORY2
Summarization of the Article
1. Introduction
The main aim of the report is to inspect the difference between the perception of the
Mayors and Chief Executive Officers (CEOs) of the local government authorities regarding
certain attributes such urgency, legitimacy and power of certain key stakeholders in respect of
their needs and claims for infrastructure assets (Siriwardhane and Taylor 2014). Different
types of stakeholders have their interests in the government’s projects for the purpose of
developing, maintaining and conserving the infrastructure related assets. For this reason,
certain needs, expectation and claims of the stakeholders can be seen in the projects, plans
and policies related to infrastructure. This report plays a crucial role in giving evidence on the
local government authority’s Mayor’s and CEO’s perception related to the above-discussed
attributes of the key stakeholders in the areas of infrastructure projects. More specifically,
this study provides special emphasis on the manner in which the Mayors and CEOs prioritize
these key stakeholders in making decisions related to infustructure assets (Wheelen et al.
2017).
The presence of a certain gap can be seen from analysing the literature related to
stakeholder theory regarding the local government. This study states that the application of
stakeholder theory is less in public sector as compared to the private sector and large
application of this theory can be seen in the healthcare industry. In the local government of
Australia, the presence of primary influence can be seen in the roles of the Mayors and the
CEOs in the decision-making process regarding the development as well as maintenance of
infrastructure assets like local roads, library, public buildings, gardens, parks, art gallery and
others. It needs to be mentioned that the adoption of different manners by the Mayors and
CEOs for prioritizing the needs, interest, claims and demands of the key stakeholders has