The ideal function of democratically elected Governments and its quasi-government agencies is to set policies, approve development plans and facilitate implementation. While it should be the responsibility of an extremely motivated profit making private sector to bring a high level of efficiency and urgency to any task. The private sector must be encouraged to compete for research contracts to guide Governments’ policies, to submit development plans for Governments’ approvals or to perform tasks that add value to Governments’ facilitation activities.The Public Sector or Government workers attitude and mind-set must be towards nation building and strengthening society with a focus on productivity and efficiency (getting value for taxpayers money) while ultimately improving standards of living, not generating profits. Having identified a problem, the process should be to prudently request relevant data driven studies to direct national policies and present feasible detailed planned solutions. Having selected a solution, relevant and related regulatory agencies must examine the overall effects and call for changes to the plans or grant approvals. Having project approval, an invitation to the private sector to implement is issued, a selection is made, a contract is awarded and approval inspections are ongoing toward conclusion.
The Private Sector or for profit organizations must focus on generating returns on investment, at the very least, greater than inflation and ultimately, better than its competitors, not to set nation policy, not to approve development plans but can bring its innovation, creativity and excitement to implementing any task with the focus on productivity, not strengthening society. Having identified a need, the process is to strategically position to win contracts to collect data, study and formulate solutions. Having developed solutions, detailed plans with all contingencies must be submitted for approvals. Having won the contract, managing the implementation efficiently to generate profit is the main objective.
Productivity, a measure of the amount of output per unit of input, is the only economic factor that both the public and private sectors have in common. While productivity drives profits, it is the use of these profits that separate the public and private sectors. The reinvestment of profits, to continue to improve standards of living for all citizens, is what defines the public sector as opposed to the private sector increasing the net worth of a few individuals. Noting that, public sector revenue is primarily generated from taxing the private sector and most private sector operations need public sector approvals. Oversight (Transparency and Audits from the very start) and where necessary Prosecutions are crucial to the integrity of every contract awarding process.
However the reality, whether at the low levels (where ten people are paid for a job three could do) or the highest decision-making levels (where committees are uselessly formed the report on reports), there are too many private (profit focus) sector people disguised as public servants.
Rationale
T.A.J & Associates Company Limited uses this occasion to comment on topics that have been covered, both academically and by the mainstream media, to add its opinion and point out investment opportunity, not to invoke any social action.
