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Objectives of private and public sector enterprises - Coggle Diagram
Objectives of private and public sector enterprises
Private sector aims and objectives
Building a strong reputation
Even without earning profit
Innovate and develop
Be the 1st business to produce new products
Gain customer and brand loyaly
Keep customers coming back
Increase revenue and profit
It is important especially to the company’s shareholders
The aims and objectives are decided by the owners
This sector is influenced by the economic climate
Public sector aims and objectives
Provide services and goods to all citizens
Ex: healthcare
Provide jobs
Offer support and advice to the population
Ex: advising on taxation
Improve education
The services can be offered on an large scale without the pressure of making profit
By using the government funding
Governments are under pressure to account for all the money they have spent