Private sector and public sector organisations

• What sector do many organizations providing goods and services belong to?

  Public sector
• What is the main difference between private and public sector organizations?

  Ownership and profit motives
• What are the key characteristics of private sector organizations?

  • Owned by private individuals or companies
  • Operated for profit
  • Aim to earn returns for owners (e.g., shareholders)
• What are the key characteristics of public sector organizations?

  • Owned and run on behalf of the public
  • Funded by the Government
  • Not operated for profit
  • Provide goods and services using public funds
• Who owns public sector organizations?

  The Government or public bodies
• Why do public sector organizations exist?

  To provide goods and services to the public
• Can public sector organizations charge for services?

  Yes, they may levy charges
• What is an example of a nationalized company in the public sector?

  RBS (Royal Bank of Scotland)
• How are public sector organizations funded?

  By central and local government
• What is an example of a public service organization?

  NHS (National Health Service)
• What is the primary goal of private sector businesses?

  To earn returns for business owners
• How does the profit motive differ between private and public sector organizations?

  Private sector aims for profit, public does not