The company, in this case, should be located in Ireland. Ireland is the best choice for as the destination Centre for the business because it has a higher NPV among the three countries with an NPV of approximately $35,000,000. The other two countries were reported to have lower NPV values of $10,000,000 for Canada and $1,000,000 for the US making them unsuitable for the company to operate and carry out their business.
When it comes to the decision-making process on where to locate the company, the key stakeholders that should be involved in the decision making include the following: suppliers, employees, directors and shareholders who have invested into the business. These forms the key stakeholders who are directly affected either negatively or positively by the decision to relocate the company. There are instances where such a decision might adversely affect one group of the stakeholder but on the other hand, benefit the other groups hence the need to involve every stakeholder (Saaty, 2008).
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There are several ways with which the stakeholders were taken into account when making the decision to relocate the business. The first step was engaging the key stakeholders in the decision making where they were allowed to air their views concerning the suggestion of relocating the company. It was important to ensure that every stakeholder clearly understands the need for relocating the business and possible impact the decision would have to the company and stakeholders. When they are informed of the decision to be taken, then they would be able to support or reject the decision based on many reasons that they might be having. The engagement of the stakeholders was made possible through dialogue to understand and evaluate some issues ranging from political, economic and social issues as a way to enhance decision making accountability (Edelenbos & Klijn, 2006). The decision might affect the company’s profitability; therefore, it was critical to ensure that they understand this and prepare them for any eventuality. The move to engage stakeholders was also necessary as a way to agree on a solution that touches on complex issues or even inform the feasibility of the future developments. There was also the need to agree on the rules of engagement as one of the most fundamental processes where each stakeholder was informed of their role and how their contribution would influence the success of the company.
Decision making on relocating the company in Ireland supported stewardship and integrity within the financial management framework in several ways. First, it was important to note that a responsible stewardship is strongly linked to the notion of integrity within the financial management. In focusing on the administration of the organization and decision-making process, a responsible stewardship was focused on proper development and utilization of resources such as the financial assets, workforce and the organizational properties (Magill & Prybil, 2004). This point towards the direction of honesty and uprightness when making the decision that would affect several people in the organization. There was the need to be resourceful and utilize the available resources in the most responsible way to avoid wastages and misallocation of allocation. Integrity was adopted in the decision making where we believed that obligation to success requires that the stakeholders act and operate as guided by the mission statement of the organization and ensure that they work towards accomplishing what they had promised. The stakeholders and other partners who were involved in the decision making had vowed to work with utmost honesty, and remain steady in their words and endeavor as far as financial management was concerned (McCuddy & Pirie, 2007). It played a key role where it helped managers to use the resources in the most efficient way to accomplish the goals of the firm and at the same time execute their commitment to stakeholders. In addition to this, it helped the organization achieve long-term financial sustainability. Lastly, it helped the firm to be more accountable to the stakeholders and all the development partners.
References
Edelenbos, J., & Klijn, E. H. (2006). Managing stakeholder involvement in decision making: A comparative analysis of six interactive processes in the Netherlands. Journal of public administration research and theory, 16(3), 417-446.
Magill, G., & Prybil, L. (2004). Stewardship and integrity in health care: a role for organizational ethics. Journal of Business Ethics, 50(3), 225-238.
McCuddy, M. K., & Pirie, W. L. (2007). Spirituality, stewardship, and financial decision making: Toward a theory of inter-temporal stewardship. Managerial Finance, 33(12), 957-969.
Saaty, T. L. (2008). Decision making with the analytic hierarchy process. International journal of services sciences, 1(1), 83-98.
