A Comparison of Management Techniques Used by Public and Private Sector Banks

Abstract

As a high-level executive role, management's primary responsibility is to carry out the administration's overarching policies. It has been said that management is "the art of getting things done by getting other people to do it." Modern business environments provide unique challenges for managers, who must use certain strategies to succeed. To realize the organization's goals, a number of processes need to be in place. There must be effective management techniques at all levels of management in a company. Methods of management are defined as a set of decisions, actions, approaches, and the deployment of resources. Banks, both public and private, have long been recognized for the vital role they serve in facilitating a wide range of essential societal functions. Existing assessments do not help public and private sector banks improve their exact management efficiency, despite help from the administrative level and the aims established in their memorandum of association. Public and private sector banks, alike, need to reorganize and reconceive their management systems as a result of the vitality of competition with other kinds of banks in similar activities.