How does public management differ from private sector management?

Public management differs from private sector management in several key ways. One of the main distinctions is the focus on serving the public interest rather than generating profits. Public managers must navigate complex government regulations, political pressures, and diverse stakeholder interests. Additionally, public management is often more transparent and accountable to the public due to the nature of government institutions. Private sector management, on the other hand, is typically driven by market forces, competition, and the pursuit of financial gains. Decision-making in the private sector is often more streamlined and focused on maximizing profitability for shareholders. Ultimately, public management and private sector management require different skill sets and approaches to effectively achieve their respective goals.

This mind map was published on 10 November 2024 and has been viewed 20 times.