Page 81 - CITN 2017 Journal

without integrity, it can create enormous loss of value in our capital markets and triggers
deep recession in even the most powerful economies in the world. However, the above
concept did not take into consideration the relationship between the organization, the
society and the environment. The environment has a very important part to play in every
business today. Conventional financial performance measures focus on creation of
shareholders value and placing too much importance on shareholder value for
measurement of management's performance can jeopardize a company's long term growth
and success.

4. CONCLUSION AND RECOMMENDATIONS
Companies need to pay attention to the "voice of the customers" and the voice of their
stakeholders." Corporate effectiveness and performance measurement requires driving
transparency, more significant interactions with customers – from senior managers to shop
assistants as such, organizations need to practice openness and ensure that its full
employee base is prepared to enter into a dialogue with customers. We recommend
improved stakeholder relations since it can function in similar ways as advertising does, by
increasing overall demand for products and services and/or by reducing consumer price
sensitivity. There is need for better stakeholders' relations so as to reduce the level of waste
within productive processes. Strict internal control system should apply in every system,
preferably to be headed by an accountant. Corporate organizations should support their
host community (corporate social responsibility) and that the accountant should report the
value of such project in their financial statement as it may lead to better performance by
protecting and enhancing corporate reputation.

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