Managing a Mixed Economy - Essay Example

MANAGING A MIXED ECONOMY By 10 May MANAGING A MIXED ECONOMY An economic system where both the private sector and the public sector plays a role in an economic activity is referred to as a mixed economy. Private sector in the economic field is characterized by the market competition whereby firms compete to sell their products and services to the consumers and attract a high level of profit (Pederson, 2008) (Hartley, 2011). On the other hand, the public sector usually does not invest for the sole purpose of making profit. The government may play a part in economy by investing so that it may provide a good environment for trade to take place. The government may also invest in areas that if they are left to the private operation, the safety of the nation may be at risk. Such investment may be in the police or army investments or the manufacture of firearms (Andrews, 2009). Workington police station is a good example of a public investment made by the English government that cannot be left to the hands of the private investors. Also, if some operation that are necessary for the locals are left to the hands of the private sector, the citizens may get oppressed due to the high amount of money that they may be charged to get commodity (Andrews, 2009). Workington police station is an example of a public investment that could be used to oppress some people in the society if it is left in that hands of the private investors. The citizens may sometimes not be able to acquire them from the private sector though not all of them. Other public investments may include those that requires a very high starting railways requires huge capitals that can only be provided by the public sector. Strategic management In every organization, whether private or public owned, must come up with specific strategies to ensure that they achieve their desired goals. The strategies that have been laid in the Workington police station consist of guidelines and principles that are supposed to be the control point in ensuring a smooth flow of activities within the police station. (Bichard, 2013). These strategies is made to ensure the goals of the police station are achieved (Brookes, 2010). A good strategy in the management of the Workington police station portrayed the following qualities: The aim of the police station was outlined, with specific goals that the station wants to score. The goals always goes together with the objective of the police station. The objectives are considerate and focus to the external surrounding. The strategists look to the wider picture on how their objectives will positively transform the lives of the people it targets by improving the security system. The strategies are not only be short term, but it should it focuses on the long term development and transformation of the society. The strategies focus on optimizing the limited resources available in order to achieve the desired objectives which is the improved security of the Workington. After the formulation of the management strategies, the actual work of implementation follows. In the development process, the Workington police station management made sure that the intended reasons for the strategy set up taken into consideration (Stone, 2010). The setting up of the Workington police station was majorly meant to offer security to the public and private enterprises in the region. The police organization in the area was to be supported by the government to ensure that their performance becomes a success. The success of the police system in Workington also depended on the structures of the English police unit, the process by which the strategies are implemented and the relationship between the police organization and other security providing systems as well as the external factors that influence the state of security of the nation such us religion and education (Courtney, 2002). The strategies cannot be a successful one if the resources required are not available. The Workington police station had to get the resources from the society which included people who worked in the station and helped in various management positions. Information was also part of the resources needed for the success of the station as it depended mainly on the information from the people about the insecurity problem to make a move in stepping up the security of the region. The police station also need a strong financial support mainly from the government for fueling the police patrol and investigation vehicles, buying of machines that were important in investigations as well as for paying the supporting staff that works in the station. The managing strategy also included the management of change that occurred as a result of a change of the behavior of the insecurity causing reasons. Business strategy varies in a greater dimensions as compared to the public organization strategy (Courtney, 2002). A business oriented strategy model requires specific fields that when implemented will give rise to the increase in profit of the firm. These fields the mission and targets. A firm may be set with a mission that focuses on the current and the expected scope that entails the present and the expected levels of profit. The business scope covers a wider range that takes into consideration of the product level of competition, the market availability of the product and the future expectation of the performance of the product. The objects may focus on the aims that the company resulting from the changes in technology and the availability of the similar products from the firm competitors. Business strategies may be for either the short period or a long tern planning process Strategies concerns of the public sector such as the Workington police station vary greatly from the private firms because most of the government planning are influenced by the political dimensions on which the country is or looking to be in. it also depends on the community needs that are not specific, the government regulations, jurisdiction boundaries and the public interest among others. It, therefore, becomes hard for the government to have specific objectives. To gauge the strength of the strategies, the government usually analyses the performance of the previous objective and identifies the strength and the weaknesses of the strategy. For our case of the Workington police station, the government has been utilizing the strength brought by the strategies and diagnosing the weaknesses accrued from the previous objectives. The government realization of its failures is mainly the result of the test of the work period of the previous strategies. The private sectors are more innovative than the public sectors. This is because the private sectors usually perform much research to ensure that their customers are well satisfied with their products and that they retain their market share and continues to open up new markets for their product. On the other hand, there is little or no competition in the public sector and thus there have been a little growth in the Workington police station. The reason the government is not innovative is due to the monopolistic nature of government provisions of the security services. In conclusion, the public and private management have a very distinctive strategic features. The public sector such as the Workington police station needs to be run professional to ensure that the services are delivered to the citizens. Performance measurement Performance management is very essential in determining the level to which the strategies that have been developed influences the production and development of an organization either in the private sector or the public sector. The reason why we need to the public security performances from the Workington police station include: The police service is entrusted to the millions of public funds that need to be seriously taken care of and transparency and accountability as well as the wise investment should be adhered to. The rules and principles that the police station outlines for the management of the public fund needs to be critically be exercised so that if there is and fault in the management it is held in charge. The performance of Workington police station is important when measured because the outcome because the individuals who are in charge of the police station can be held into accountability. Arguments have also been given concerning the performance of the management in the public sector. It is argued that performance acts as a mirror of accountability and transparency. Therefore, after the measurement, the report can be given to the citizens on what have been achieved by the police station and what plans do the station has for the future. There are three features that the government need to be held accountable. The government expenditure on security. This can be evaluated through accounting of the public funds. Secondly, the evaluation of the public funds on police projects. The question of whether the funds have been used efficiently needs to be assessed. The answer can be determined by looking at the value of the security system. Finally, the evaluation of whether the purpose of public investment has been achieved needs to be assessed through a thorough evaluation of the evidences. Public security evaluation needs to focus on the state of the economy before and after the investment period; the efficiency brought about by the investment program and the effectiveness of the program. If the three features have a positive outcome, the investment can be termed as a successful one but if not achieved, then the program can be termed as unprofitable and should never be put on trial again. Performance can be defined differently by different stakeholders concerning the achievement of the police station. It, therefore, has different dimensions and concept depending on the situation that it is being referred to. A performance measure can be an unbiased measurement which does not deviate so much from the estimated value, but cannot be measured directly (Pederson, 2008). It is a signal that need to be scientifically be interpreted and be given a meaning in security terms. Performance management in Workington police station has developed some systems that are used for measurement, monitoring of the performances and the management of the economic situation in the performance (Courtney, 2002). Different performance management focuses on the downward service delivery and upward outcome and result. Generic and organizations have been developed in large numbers, for example, the best value of security system is used in the United Kingdom (Andrews, 2009). There are some guidance that the authorities dealing with the best value follows. These guidance include, being under a general duty of best value to make some continuous improvement in an organization with an exercised functions with regards to a combination of security, efficiency and effectiveness. When reviewing police performance, the police station usually reviews the overall value of the security and social value. The principle agent problem in relation to performance measurement evaluation of the security concept developed by the managers of the police station for their selfish desires. When the performance controls are put in place, a lot of opportunities usually develop adding up to the value of the security of a nation. This leads to an addition of a new measure that goes hand in hand with the value addition. The government usually gives contracts to the professional in order to increase security outputs (Johnson, 2001). They also use some actions such as offering incentives such as financial, moral support or managerial autonomy to the police station. These incentives usually motivates the workers and their performance increases. If they fail to meet the set targets, then some sanctions are put in place (Liddle, 2010). The sanctions may be in form of dissolution of the contracts, financial penalties, and termination of the service or change of ownership of an entity. Performance is also done by the use of the performance data. Given that Workington police station is managed by the state that comprises of the politicians. It may, therefore, be used to measure how well or bad they have done in the era of leadership (Milner, 2005). The central government usually uses the performances to develop the means of resource distribution. In conclusion, the performance management of a mixed economy mostly affects the public sector such as the security system in the way the central organization distributes the national resources for the entire development of the nation. The performance management of the Workington police station has helped to promote accountability among the leaders of the country and to push the security levels of the nation ahead. References Andrews, R. a. B. G., 2009. A test of the Miles and Snow model’ Public Administration. Strategy, Structure and Process in the Public Sector:, December, 87(4), pp. 732-749. Andrews, R. a. B. G., 2009. Public Administration. ‘Strategy, Structure and Process in the Public Sector: A test of the Miles and Snow model’ , December, 87(4), pp. 732-749. Bichard, 2013. The need for public service strategy Public Money & Management Volume 33, Issue 1, 2013. Editorial, 33(1). Brookes, S. a. G. K., 2010. The New Public Leadership Challenge. London: Palgrave MacMillan. Courtney, R., 2002. Strategic management for voluntary and non profit organizations. London: Routledge. Hartley, J. a. B. J., 2011. Recent Trends in Leadership. London: Kings Fund. Johnson, G. a. S. K., 2001. Exploring Public Sector Strategy. 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