Relating to or managed by businesses, often implying a focus on efficiency, profit maximization, and market-driven strategies. It can describe organizations, processes, or even entire societies where commercial principles dominate. The term suggests a structured, systematic approach, contrasting with more informal or less commercially oriented models. It frequently carries connotations of professionalization and accountability but can sometimes imply a lack of flexibility or a prioritization of profit over other values. The phrase highlights the application of business practices to various spheres, extending beyond the traditional realm of commerce.
Business-run meaning with examples
- The non-profit organization adopted a more business-run structure to streamline its fundraising efforts, leading to increased efficiency and a larger donor base. This involved implementing data-driven marketing campaigns and performance metrics to assess the impact of their initiatives and better use resources.
- The healthcare system experienced a shift towards being more business-run, with hospitals adopting for-profit models. This resulted in changes such as price increases, emphasis on patient satisfaction metrics to manage the business and streamlined processes, but generated ethical concerns.
- The city implemented a business-run approach to urban planning, fostering public-private partnerships for infrastructure development. This strategy aims to attract investment by building projects such as, creating job centers, modernizing the airport and transit systems, and expanding shopping centers.
- The government is encouraging the adoption of a business-run model for public services, with the aim of improving delivery times and accountability, creating competition between services and streamlining their procedures which brings new efficiency.