Sociology Index

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PRIVATE SECTOR

Private sector refers to that part of the economy which is controlled or owned by private individuals, either directly or through stock ownership. Private sector company is a company with restricted membership and no issue of shares. Private sector enterprise is a business that is privately owned and not under State control. Private sector refers to private or individual initiative especially in business. Private sector is that part of an economy or industry which is free from direct State control.

The Private Sector and Privatization in Social Services - Is the Washington Consensus ‘Dead’? - Santosh Mehrotra. One of the most significant developments in the 1990s in social policy in developing and transition countries has been the growth of privatization in health, education and water services - three basic services, which involve most of the Millennium Development Goals (MDGs). Welfare pluralism was very much a core element of the Washington Consensus. This article critically scrutinizes the arguments and evidence that have been made in favour of greater private sector participation in these services. The article addresses what role the private sector could or should play in these services and is, thus, driven by practical policy concerns.

Comparing Public and Private Sector Decision-Making Practices - Paul C. Nutt. Abstract: Public and private sector decision making is studied with an experiment. The study compares decision making in a tax-supported general purpose governmental agency with that done by a business firm selling to a market, using a simulation to capture differences in the preferences and practices of mid-level managers working in the two sectors. The literature on public/private differences was consulted to make predictions, suggesting that public sector managers would favor bargaining and networking and private sector managers would favor analysis and speculation. The study finds that private sector managers are more apt to support budget decisions made with analysis and less likely to support them when bargaining is applied.