Advantages & Disadvantage of Privatization.
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5 Oct, 2019 7:34 PM
21 Oct, 2018 10:16 AM
It increases the profits and improves the chances of innovation. It reduces the government's political interference. The government sometimes seems incapable of taking hard decisions especially when they impact their political footing which are bound to react in negative publicity. Privatization urges improvement in the company and the private companies will ensure that they improve their operational efficiency by reducing their costs. Most of the sectors like Hospitals and education standard has been increased due to privatization.
But due to this privatization, the organizations become free to pursue their own interests without the permission of government officials which will reduce or decreased regulations and government revenues. When an public owned entity is handed over to the private organization, it loses government protection and these may seek to increase prices of certain state entities like water and electricity at the detriment of consumers with no control.
So, privatization with social thinking and public organization having innovative minds will be good combination for the bright future of our country.
23 Aug, 2018 10:07 AM
Privatization plays major role in growth of a country. Country GDB is determined by privatization. Privatization is nothing but private sector maintains and monitors certain specialization which is authorized by the government.
Reason for Privatization:
There are several features which is the reason for increase in privatization. They are:
1) Quality products
2) Better Customer Service
These are the two major reason for rapid increase in privatization. So public always prefer private organisation than public organisation. So country's GDB eventually becomes dependable on privatization.
So, there is doubt that privatization plays a key a role in every country's GDB. Also at the same time, rise in entrepreneurs privatization increases exponential rather than drastically.
14 Aug, 2018 10:34 AM
8 Aug, 2018 11:34 AM
6 Aug, 2018 8:04 AM
Privatization has its own advantage and disadvantage. The main advantage of privatization is its adaptability to innovation. The organisation of public sector mostly does not take any innovation and stay in the safer side. But the private bodies need to make innovations to show their uniqueness and to increase their growth.
Most of the time Privatization lags behind because of their poor customer concern. Many sectors like Hospitality and education standard has been increased after privatization. Because of their money making mind, both education and hospitality sector is in danger. They ask for larger amount of pay. In growing counties like India, this will make a larger impact.
Privatization with social thinking and Public organization with innovations will make a bright future
16 Jul, 2018 6:24 PM
In the private sector there is high competition and the country growing faster than other. The product quality is also improving and the disadvantage of privatization that they are doing for self profit. Not seen the public things for their development
There should be privatization in every country for better development but in a limit that they do not cross that limit.