Decision making in the private and public sectors differ in several ways. In the private sector, decisions are typically made by a small group of individuals, such as a board of directors or a CEO, and are based on the goal of maximizing profits. In the public sector, decisions are typically made by a larger group of people, such as elected officials or appointed bureaucrats, and are based on the goal of providing the greatest benefit to the public. Private sector decisions are often driven by short-term goals, while public sector decisions are often driven by long-term goals. Private sector decisions are often based on market forces, while public sector decisions are often based on public opinion and the public good. Finally, private sector decisions are often made with the goal of increasing shareholder value, while public sector decisions are often made with the goal of increasing public welfare.
