Corporatized is an adjective derived from the word "corporatize," which refers to the process of transforming a entity, institution, or sector into a corporate entity or adopting corporate values, practices, and structures.
The term describes the act of transferring or restructuring an organization, typically a government-owned entity, public institution, or public service, into a corporation or business-oriented entity. By corporatizing, the organization becomes subject to profit-making or revenue-generation objectives and is often driven by market principles and practices. This process often involves converting public assets, services, or functions into privatized entities partially or wholly owned by corporations.
Corporatization typically involves the introduction of a more streamlined, market-driven management system characterized by the use of profit-driven metrics, performance indicators, and accountability measures, akin to those employed by private corporations. It may also involve the adoption of corporate governance structures, such as a board of directors, to oversee decision-making processes, as well as the establishment of a more flexible, competitive, and market-oriented environment.
The term can also extend beyond the realm of public entities, referring more broadly to the infusion of corporate values and practices into various sectors such as education, healthcare, or the arts, leading to an increased focus on efficiency, cost-effectiveness, and profit generation.
Overall, "corporatized" denotes the transformation of an organization, industry, or sector to adopt corporate principles, structures, and objectives, often with the aim of enhancing efficiency, productivity, and financial performance.
