Public Sector Is A Government Run Organisation

Organisational sectors can be seperatred for the most part into 3 camps; Public sector - Is a government run organisation (HMRC) which takes money from the public in the form of taxes, and allocates some of the funds to to other public sector organisations, (such as the Met. Police Service) to finance them the majority of them so they can keep in operation. These sort of organisations usually aim to serve the publics interest with essential services ( Again, such as the police and medical services). From a Legal stand point, as its the public sector and is funded by the public, the government (parliament, HMRC) is in charge of regulating the sector and insuring the allocated funds are distributed and used how they should be. Due to its basic structure its fundamentily different to the other sectors, that are mainly finance by inhouse sources or privatley earned money as opposed to state tax. Private Sector - business s in this sector are owned and run by individuals as opposed to one large governing body. This can vary from sole traders (such as contractors, or any one trading or running a business by themselves.), partnerships (a business run by joint owners who share in the profits and expenses equally, as a joint venture) companies Both Public ( A public company is a company with securities (equity and debt) owned and traded by the general public through the public capital markets. Shares of a public company are openly traded and widely distributed -Show MoreRelatedTypes Of Organisation And Public Sector Organisations1116 Words   |  5 Pages P1 Types of Organisation Public Sector Organisations Private sector organisations Voluntary sector organisations. 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