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Word Count: 206
PRIVATISATION Transfer of services activities and operations from govt to private enterprise ADVANTAGES OF PRIVATISATION Privtaely owned Firms are more cost efficient - because they need to make a profit Privatisation places the risk in the hands of business or Private Enterprise Govt Businesses are subject to an enormous amount of red tape Beauraucracy Private enterprise is more responsive to customer complaints and innovation Govt Ent Have an advantage over private Ent Because they can guarantee payment of bills and they dont pay tax The Govt should not be a player and an umpire Privatisation provides a one off cash boost for Govt This can be spent on Hospitals etc Privatisation leads to lower prices and greater supply Competition in privatization increases differentiation Private sector uses less resources therefore resources are free for other purposes As a result of privatisation more tax income is generated for govt Loss making activities no longer run by Govt - No longer responsible Private Sector managers are more efficient Private sector is more flexible in relation to finance Govt sector magangers are responsible to Govt legislation Private Ent Can hire and fire by performance Prvt Organizations can use marketing advertising with Govt Permission Private Orgs can move into new markets
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