Corporatized Meaning: Definition, Examples, and Translations
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corporatized
[หkษหpษraษชzaษชz ]
Definition
business context
To corporatize means to convert a government agency or public service into a corporation or to organize something along corporate lines. This often involves applying business principles to enhance efficiency and accountability within the organization.
Synonyms
commercialize, corporationize, privatize.
Examples of usage
- The city plans to corporatize its waste management services.
- After facing budget cuts, the agency was corporatized to operate more like a business.
- The new administration aims to corporatize public transport to reduce costs.
Translations
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Origin of 'corporatized'
The term 'corporatize' emerged in the late 20th century, particularly with the rise of market-oriented reforms in various sectors around the globe. It combines the word 'corporation,' which comes from the Latin 'corpus,' meaning 'body,' referring to a legal entity that is recognized as having its own rights, distinct from those of its members. The suffix '-ize' indicates the action of making or becoming, thus 'corporatize' essentially means to make something into a corporation. The concept gained traction as governments sought to improve efficiency and service delivery by adopting private sector practices and structures, leading to a significant debate about the role of the public versus private sectors in providing essential services.