Question

Write short Notes on the following.

Features of private sector organizations

Answer 1

The following are some of the main features of private sector organizations:
i. Private ownership: The ownership of assets and delivery of assets lies in the hands of private individuals.
ii. Profit motive: The main motive of these enterprises is to earn profit.
iii. Control: The complete control of the management lies in the hands of private businessmen.
iv. Risk bearing: The owner of a private sector organization is the bearer of all types of risks associated with the business.