Privatization started in Great Britain in the early 1980s when then Prime Minister Margaret Thatcher started to sell state-owned assets such as the British telephone company.
Privatization refers to the act of transferring the ownership of the properties that are owned by the government to the sectors of private. In this process the publicly traded company will be taken under the control of some private people.
In Great Britain, the modern management process which is also termed as general management was introduced in the NHS, in 1980s. In Great Britain, in the early 1980s, the Prime Minister Margaret Thatcher started selling the assets that are owned by states such as British Telephone Company which comes under Privatisation.
