Differences In The Objectives Of Private Sector And Public Sector Enterprises
Overview
A private clothes shop and a state-run hospital both work hard every day, but they are not chasing the same thing. The shop is in business to make a profit for its owners; the hospital exists to provide care to everyone who needs it. Because they belong to different sectors, they answer to different owners, and those owners want different things.
In this lesson you will compare the objectives of private sector and public sector enterprises side by side: profit, survival and growth on one side, and service, social aims and government targets on the other. By the end you will be able to explain why a business behaves the way it does once you know which sector it belongs to.
Objectives
- Differences in the objectives of private sector and public sector enterprises
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Lesson Evaluation
Congratulations on completing the lesson on Differences In The Objectives Of Private Sector And Public Sector Enterprises. Now that youve explored the key concepts and ideas, its time to put your knowledge to the test. This section offers a variety of practice questions designed to reinforce your understanding and help you gauge your grasp of the material.
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Use this evaluation section as an opportunity to reinforce your understanding of the topic and to identify any areas where you may need additional study. Don't be discouraged by any challenges you encounter; instead, view them as opportunities for growth and improvement.
- Which is the main objective of most private sector businesses? A. providing free services B. making a profit for owners C. protecting jobs in poor regions D. meeting government quality targets Answer: B
- A 'social objective' is most typical of: A. a private clothes shop B. a public sector enterprise C. a sole trader D. a private limited company Answer: B
- During a recession a new private firm is most likely to focus on: A. rapid growth B. survival C. paying high dividends D. building new factories Answer: B
- A government-owned postal service has a target for reliable delivery. This is mainly a: A. profit objective B. service objective C. growth objective D. survival objective Answer: B
- Public and private sector objectives differ mainly because of differences in: A. the weather B. who owns the organisation C. the number of workers D. the colour of the logo Answer: B
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