These dimensions are economic, environmental and social. Neo-liberalism Harvey (2005) defines neo-liberalism is a theory of political economic practices that proposes that human well-being can best be advanced by liberating individual entrepreneurial freedoms and skills within an institutional framework. This means that individual’s welfare should best be emancipated within an economy through a socio-economic setting that permits the use of their skills and abilities to empower themselves and thereafter accumulate wealth. This theory as Harvey (2005) stated, is characterized by strong private property rights, free markets and free trade, while the role of the state is to create and preserve an institutional framework appropriate to these
However, the usage of the term privatization within this context is generic and applicable to Berg's definition, where he states that any "activity aimed at changing the mix between private and public sectors with the aim of shrinking the latter and increasing the scope of the private sector" (Berg 1986: 4). Therefore the term refers to any change from public toward private provision or production of services. The following list shows just how broad the concept of privatization has become when used in this sense (Al Homeadan
Public-Private Partnership Models in Housing Development According to National Agency on PPP (2009), public private partnership is asystem that contributes to the progress and development of every nation by supporting the government in form of partnership in providing the needs of the people. Below are different types of models in Public private partnership based on NAPPP (2009). a. Design-Build (DB): Under this model, the government contracts with a private partner to design and build a facility in accordance with the requirements set by the government. Upon completion, the government assumes responsibility for operating and maintaining the facility. This model is also referred to as Build- Transfer (BT), e.g.
The Industrial Policy plan of a country, sometimes shortened IP, is its official strategic effort to encourage the development and growth of the manufacturing sector of the economy. The government takes measures "aimed at improving the competitiveness and capabilities of domestic firms and promoting structural transformation." A country 's (transportation, telecommunications) is a major part of the manufacturing sector that usually has a key role in IP. It is also the case that industries fail dismally to add to such a growing body of manufacturing industries. Industrial policies are sector specific, unlike broader macroeconomic policies.
Contractual PPP: In these contracts the contractual links are the sole basis of partnership between the public and the private sector. An administrative contract or series of contracts regulates the rights and obligations of the contract. Scope: Different kinds of contracts under the purview of contractual contracts depending upon the characteristics of the contractual relationship and delegation of tasks to the private entity. The private party assumes all the responsibility of construction, operation and maintenance of the infrastructure assets, charging users for the service. Variants of Contractual PPP: a) PFI (private finance initiative): In scenarios where economic financial balance such as in infrastructure investments, is restored through transfer of funds from government or external entities, this type of model comes handy .
Difference between human resource management and personnel management Human resource management is a strategic approach to managing employment relations which emphasis that leveraging people’s capabilities is critical to achieving sustainable competitive advantage , this being achieved through a distinctive set of integrated employment Policies Programmers & Practices. a lot about the importance of human resources for any organization. The human resources refer to the qualities possessed by the work force or employees in an organization. These qualities include knowledge, values, skills, abilities, cognition, beliefs, commitment, etc., possessed by the employees, without which any organization cannot grow or achieve their objectives. Bratton and Gold (2007) defines HRM as ‘a strategic approach to managing employment relations which emphasis that leveraging people’s capabilities is critical to achieving sustainable competitive advantage, this being achieved through a distinctive set of integrated employment policies, programmes and practices’.
Literature review The World Business Council for Sustainable Development in its publication Making Good Business Sense by Lord Holme and Richard Watts, used the following definition. “Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” A firm’s assignment of CSR begins with economic responsibility and narrows up with legal, ethical and other responsibilities, such as sound judgment. What was found as ethical pursuance and sound judgment in Carroll’s model, it is now indispensible because of the fact that ethical responsibilities are required
This is arguably the main compelling factor for using Malaysia as an ICT outsourcing haven. Sufficient infrastructure The country is well developed in terms of its infrastructure, boasting several major International landmarks such as the Kuala Lumpur Petronas Twin Towers and the Kuala Lumpur International Airport (KLIA). In fact Malaysia is leading several road and other infrastructure projects
Public Private Partnership (PPP) is a public sector procurement mechanism whereby the government engages commitments from the private sector. The government transfers a certain level of responsibilities and significant risks to the private sector in providing the public service or facilities for community such as public transportation network, parks and convention centres (Ismail, 2013). In depth, PPP is a transfer of responsibility of financing and managing a package of capital investment and services including construction, management, maintenance, refurbishment and replacement of public sector assets which creates a standalone business (Economic Planning Unit, 2006). Here, the private party will provide public infrastructure-based services
Firstly, PPPs enable the public sector to harness the expertise and efficiencies that the private sector can bring to the delivery of certain facilities and services traditionally procured and delivered by the public sector. Secondly, a PPP is structured so that the public sector body seeking to make a capital investment does not incur any borrowing. Rather, the PPP borrowing is incurred by the private sector vehicle implementing the project and therefore, from the public sector 's perspective, a PPP is an "off-balance sheet" method of financing the delivery of new or refurbished public sector