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What is the guiding principle behind New Public Management?
Profit maximisation
Introducing private sector business principles into the public sector
Replacing public management with private sector management
Restructuring public organisations
New Public Management seeks to introduce private sector business methods into the public sector. The Public Sector is usually comprised of organizations that are owned and operated by the government and exist to provide services for its citizens. Similar to the voluntary sector, organizations in the public sector do not seek to generate a profit.The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled. Therefore, it encompasses all for-profit businesses that are not owned or operated by the government. Companies and corporations that are government run are part of what is known as the public sector, while charities and other nonprofit organizations are part of the voluntary sector.
By: Srishti Gupta ProfileResourcesReport error
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