Difference Between Government and Business

There are many professions a person can select to make his/her career in. But with some choices, there is a silent word of ‘responsibility’ in them.

Some of the professions are – doctors, soldiers, politicians, social workers, civil services, businessmen, and many others. With each of the professions, a person has to contribute some of its success directly or indirectly in making the country a better place to live.

For example – a doctor is responsible for improving health infrastructure, soldiers are responsible for safeguarding, a businessman is responsible for sharing their success through improving the economy, politicians and social workers work for the welfare of society.

Government vs Business

The main difference between Government and Business is that Government is a sort of organization or entity that aims to work for the welfare of society by implementing different laws, launching different schemes, introducing multiple campaigns, etc. while comparatively, on the other hand, a Business is a firm that aims to nurture their roots and believes on the expansion of their profits of a single person or the whole industry.

Government vs Business

Government includes the representatives that are selected and elected by means of the democratic voting of the people. They are supposed to be working for a certain party or an individual party

With their fellow mates, they form the majority government and thus work for the betterment of society. As of their oath, these representatives must work with their utmost sincerity and dignity and shouldn’t indulge in any forge means of practice.

Business is an entity or organization whose first priority is to trade, accompany more people under them, commerce, and make huge profits with the transactions.

It mainly builds or engages people in a certain field, and the profits gains achieved are of a single individual or for the whole industry. They are mainly the organizations regulating the economy of a certain country directly or indirectly.

Comparison Table Between Government and Business

Parameters of ComparisonGovernmentBusiness
DefinitionAn entity that works for the welfare of societyOrganization or firm working for their profit
Emphasize OnSociety’s welfareOrganization profit
Schemes/OfferHundreds or thousands of schemeA few schemes or offers to be introduced
Income/Revenue Source Taxes or bondsSelling goods, raising stocks or funds, taking loans from the bank or market
DurationFor a limited periodDepends on the owner
Rules and RegulationsBy everyone’s supportIt may be a single person decision or a group
DecisionSlow processQuick process
Money ValueMajorly most of the funds are wasted or cornered for personal useThey have a record for every single penny spent

What is Government?

A Government is stated as an entity or an organization that is fairly elected by the people of the country. For choosing the government, fair elections have campaigned against all the candidates selected for the profile.

And whosoever receives the majority, they are said to be the winner. The main aim or focus of the elected members in any Government is to work for society’s betterment.

The elected Government introduces or launches hundreds or thousands of schemes and offers so that people can avail different benefits from them. But sometimes, such schemes and offers remain behind based on implementation.

The power of decision-making in a government is not in a single person’s hand, but they have to consider the opinion of everyone present or is a member of two houses of parliament, because of which the process of making any decision or law is slow.

Nevertheless, the income or revenue source for any Government is mainly the taxes or the bond. 

What is Business?

A business is a group or organization that is established by a single person or in a partnership. The aim or the focus of any business organization is to make a profit for itself.

Unlike the government sector, the business sector doesn’t emphasize on being working for society’s welfare. Perhaps, they only focus on the company’s profit.

The business owners of the company have to introduce a limited number of schemes or offers that attract the right amount of audience or the customers for purchasing their goods or services. But these offers and schemes are meant for a limited period.

The decision power making in the organization is quite a fast process, and they are not to be always discussed with the members.

The income or revenue source for any business group is through – selling goods, raising stocks or funds, taking loans from the bank or market. Thus, they have a record of every penny spent.

Main Differences Between Government and Business

  1. Government is stated as an entity or an organization whose aim is to work for the welfare of the society while comparatively, on the other hand, the Business is stated as a group or organization that mainly works for their profit.
  2. The government mainly emphasizes the society’s welfare while comparatively, on the other hand, Businesses mainly emphasize the profit of their self-organization.
  3. The Government has to introduce hundreds or thousands of schemes and offers that benefit the society while comparatively, on the other hand, any certain business has to introduce a few of the schemes and offers that attract the customer.
  4. The main revenue or money source for the Government is from the taxes or bonds while comparatively, on the other hand, the income or revenue source for any business is through selling goods or products, taking loans, raising stocks or bonds, etc.
  5. A certain party working as Government is for a limited period of five years, that is, till the next elections, while comparatively, on the other hand, any business doesn’t have any expiration date for their setup.
  6. For making any new rules and regulations Government must have to involve all the members of the party and opposition too while comparatively, on the other hand, making any certain new rules and regulations in a business is quite an easy process.
  7. The decision-making process by any Government is very slow while comparatively, on the other hand, the decision-making process in business is fast.
  8. In Government, the money is least valued as a huge amount is sanctioned for projects, but most of them are wasted or cornered under the table while comparatively, on the other hand, in any business the money transactions are much valued, they have a record for each penny spent in their records.
Difference Between Government and Business

Conclusion

To summarize the given topic, this can be concluded that both the above fields are entirely different from each other. From nowhere, they appear to have any kind of similarity, or they cross paths of each other.

But sometimes, the Government may play the role of client for many businesses. Sometimes business owners collaborate with ministers or politicians for investing or funding their new projects and business for expansion.

If we sideline the front view of the two different fields, one must look at the negative aspects of the same. Although being different professions, when the two crossed each other paths, sometimes they work for illegal purposes.

As in such business or industry, some politicians invest their black money and establish such industry to make it white. Such activities defame the name of the whole community and the industry.

References

  1. https://aisel.aisnet.org/cais/vol26/iss1/14/
  2. https://journals.sagepub.com/doi/abs/10.1177/02750740022064623
  3. https://heinonline.org/HOL/LandingPage?handle=hein.journals/clqv56&div=8&id=&page=
  4. https://journals.sagepub.com/doi/abs/10.1177/0275074007309154
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