In terms of geographical area, Russia is one of the biggest countries. Different strategies have been applied to control and improve the economy of the country. Some have worked out well while the others have failed. Privatization has worked for the economic conditions in Russia. A fact is that the some industries have advanced incredibly after their major portions were privatized.
The opinions of different corporate professionals about privatization clash with each other. According to some experts, it creates a huge positive impact on the overall economy while the others have contradictory opinions. After privatization, the state loses control over a certain industry or group of companies. When a private owner is supervising the functions of the company, he makes his own investments and maintains employee which he prefers. Almost every industry taken over through privatization increased its profit margin. Even after Russia was distributed into multiple partitions, privatization had a great effect on the economy. However, there were some sectors which faced a decline after being privatized.
Who takes the decision to privatize a company? A series of professional meetings is held before any decision is taken. The agenda of this meeting is related to the financial state of the company? What kind of profit has it produced in the past? What kinds of assets does it have? In addition to that, the expected profit after privatization is forecasted.