How do they differ?
There are not many private-sector business minds in government, so bringing such experience to the executive branch has many advantages, and helps improve governmental operations. Also, taking government experience back to the private sector can be equally rewarding. If you can spend time in both sectors over a career, it will make you a more well-rounded professional. If the government is your passion, try to spend three to five years in the private sector at some point and revert back to government—or vice versa if your long-term path is the private sector. For all prospective public servants, it is important to understand the differences between the public and private sectors to be most effective in your future roles in government.
There are several key differences between working in the executive branch of government compared to working in the private sector.
The most obvious difference between the private sector and government is the purpose or mission of each: entities in the private sector are generally designed to make money, while entities in the public sector are generally designed to spend money. Both sectors can and should learn from each other, and switching back and forth could prove to be a great career model for those inclined to venture into both the private sector and public service during their careers.
Two Different Business Models
1
The most obvious difference is the purpose and mission of the; private-sector and government. Entities in the private sector are generally designed to make money and entities in the public sector are generally designed to spend money.
2
The goal of a private sector business is to grow revenue—increasing both net income and shareholder value. Success is generally defined by increases in some monetary value related to the business.
3
The goal of government is to grow the well-being of the citizenry by providing needed services (such as social programs and infrastructure) or regulatory oversight on certain areas of the private sector, in an attempt to prioritize safety and promote competition. Success is defined by structural and integral improvements and the safety of the populace.
