Q. Who should handle real estate in India at large – public or private limited companies?
A. Public limited companies work only on the traditional model, so developments in the real estate sector should mostly be handled by private limited companies. They are well equipped with machinery, techniques and manpower resources. Also, they follow international norms and bring in fresh ideas into a project.
Q. What is the basic difference in the functioning of private and public sector?
A. Government sector lacks in governance on many fronts. The tedious procedure of governance can be difficult to handle. Private sector, on the other hand, values manpower and investments unlike the government sector where manpower is used inefficiently. For instance, if we buy a plot from government, we still have to take permission from the mining sector and the local minister, leading to many hassles.
Q. Explain the reasons for higher productivity in private sector. How can companies improve efficiency of their employees?
A. The idea of corruption and restless attitude is deep rooted in the pysche of government sector employees, hence it is difficult to trust them. The scenario is quite opposite in private sector. To improve the employee’s efficiency, one should pay salaries on time and give right due to employees.
Q. Define the role of leader at a private firm.
A. A leader must be transparent, armed with ethics and moral responsibility. A genuine leader will always give back to society. In a private firm, leadership lies in showing the way forward by leading with example, because action speaks louder.
Q. How does private sector gain edge over public sector?
A. In public sector, an employee is secured for life in terms of longevity of the job tenure or post-retirement benefits. In public sector, if you have the right combination of talent, skill and urge to learn, sky is the limit for you.
Q. What measures should private firms take to contribute to the growth of India?
A. Private firms must keep themselves abreast with the latest happenings in their respective fields. Be it setting up latest manufacturing units or working on favourable policies and incentives for their employees.
Q. How can government sector regain the trust of the community they serve?
A. To regain the trust of community, government sector must follow right rules of governance. All systems should be in place and function well.
