Question

explain the importance of privatization in business environment ?

Answer 1

Dear Student,

Privatization means giving more importance and support to the private sector in the nations growth process and reducing the role of the public sector.
Privatization is important, as it creates more job opportunities and builds a healthy competition in the market.
Privatisation focus on ​​​​maximizing profit by improving customer satisfaction by providing standard quality of products.
​​​​​​Other Importance of Privatisation include :
1. Improved performance and customer satisfaction.
2. Political inference will become less
3. Encourages shareholders to invest in the companies because of improved returns.
5. It increases competition because of various players in the market
6. The Revenue generated will be more which will leave more revenue to the government which will contribute to the growth of the nation
7. Growth in technology and innovation as more people would get the opportunities to showcase their talent.
8. Increased speed and efficency

Thanks and regards,