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Managing in public and private sector - Essay Example

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Various strategic management techniques exist within the private and public sectors. It is indispensable that efficiency of strategic management with…
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Managing in public and private sector
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Download file to see previous pages It is imperative to relate the inherent differences and similarities between private and public sectors based on their primary objectives as aforementioned. The paper explores similarities and differences in strategic management between the private and public sector.
There are significant strategic administrative similarities between the public sector and private sector. It is imperative that both the sectors greatly relies on common business administration techniques including planning, budgeting, organization, delegation, and control in conducting daily activities. The aforementioned administration techniques are imperious for all business entities and consequently, both private and public sectors have to apply them in strategic management. For instance, budgeting for business involvement in specific functions remains as a vital activity in both public and private management activities. Both the sectors require budgeting techniques to ensure minimal use of resources and exploitation of business finances. Furthermore, both the public and private sectors require use of planning techniques in remaining relevant to market trends and developments. Planning is an imperious activity for all business entities and managers who aim at success and achievement of organizations goals. In addition, planning is of central importance for strategic managers who aim at overcoming competition in the market. Apparently, both the private and public sectors require comprehensive planning techniques in strategic management to enable them achieve their objectives (Desmarais & Abord de Chatillon, 2010).
Corporate social responsibility relates to business organizations’ involvement in non-profit activities within the society. Majority of organizations engages in corporate social responsibility to enable them create a good public image within the community that they operate. It is the responsibility of a business entity to attract interest from the public ...Download file to see next pagesRead More
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