I found some different translations of Mishlei 16:4. On the chabad.org website it is translated as:
'The Lord made everything for His praise - even the wicked man for the day of evil'
While the mechon-mamre.org website reads:
The Lord hath made every things for His own purpose...
The JPS translation reads:
The Lord made everything for a / it's purpose...
So how should the words כל פעל יהוה למענהו be translated and understand, what does it mean?