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Private Sector Jobs

In: Business and Management

Submitted By zaria22
Words 581
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According to BusinessDictionary.com, private sector is defined as the part of a national economy made up of private enterprises, including the personal sector (households) and corporate sector (companies), which are responsible for allocating most of the resources within an economy. This article discusses how the British company, Northern Rock, has changed its business sector in the last few years due to a change in the economy. The company has had many changes—going from private sector to public sector, and then back to the private sector. Three years prior, the British government after there were funding concerns, which caused the company to go public. After two years of being government-run, the company split up into two distinct groups managed by United Kingdom Financial Investments. The split created smaller deposit taking and mortgage lending bank. Eventually, Virgin Money bought out all of Northern Rock, bringing it back to the private sector. The article relates to the private sector because Northern Rock was once a part of the private sector until the government of Great Britain took control over it due to some financial concerns. Ultimately, the company wished to remain within the private sector, being eventually bought out by Virgin Money. Government control of a company is never ideal. Within the free enterprise system, government regulation prohibits free trade. The private sector is where a majority of the resources within an economy go, and therefore, when the government has control of businesses, it causes business to suffer.

BOURAS, S. (2012, February 28). Athens Approves Big Cutbacks - WSJ.com. Business News & Financial News - The Wall Street Journal - Wsj.com. Retrieved February 29, 2012, from http://online.wsj.com/article/SB10001424052970204520204577251011918711498.html?KEYWORDS=private+sector This article discussed how in Greece, the government is cutting a lot of expenses. Impacted by this decision is the private sector, which is receiving 22% minimum wage cuts. Greece is trying to recover from their awful economic depression. This article clearly lays out everything (with figures) of the current recovery process Greece is about to enter into. The country will attempt to come back from the depression. Hodkinson, P. (2012, February 29). Caveats Take The Shine Off Private Equity Reports - Private Equity Beat - WSJ. WSJ Blogs - WSJ. Retrieved February 29, 2012, from http://blogs.wsj.com/privateequity/2012/02/29/caveats-take-the-shine-off-private-equity-reports/?KEYWORDS=private+sector This article talks about how Great Britain has the highest number of private equity owned companies in 2010. It then goes into more detail regarding the percentages of different figures and that in 2011 there were 364 private equity-backed companies started, which is higher than any other previous year. The private sector is where a majority of the British companies keep their market. The share of them is also increasing during this economic depression in the U.K. as well. Turner, M. (2012, February 29). How the Rock Was Sold - The Source - WSJ. WSJ Blogs - WSJ. Retrieved February 29, 2012, from http://blogs.wsj.com/source/2012/02/29/how-the-rock-was-sold/?KEYWORDS=private+sector This was the above article that discussed Northern Rock becoming a private sector company again. The article was presented in an easy to understand manner with a timeline of when the different decisions about private versus public occurred. What is private sector? definition and meaning. (n.d.). BusinessDictionary.com - Online Business Dictionary. Retrieved February 29, 2012, from http://www.businessdictionary.com/definition/private-sector.html…...

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