Nobody is saying that the Gov't can or should be run like a business completely. That is an exaggeration.
Proprietors, or at the least shareholders, own a business. Businesses (except perhaps unions if one considers them businesses) are not set up for the welfare of employees, taxing authorities, creditors, suppliers, or customers. Any good done for these entities is coincidence or a necessary deal with outsiders.
Job creation is not a primary concern of employers. If a corporation can increase productivity by reducing its staff it will, as many profitable companies have done even before the financial collapse. Note well that giant corporations frequently hire lobbyists to make such a claim... and of course control the politicians that the giant entity sponsored to electoral success through campaign contributions.
But avoid using the buzzword "competitiveness" when "profitability" is the reality. It may be good for a corporation that it gets outright subsidies, underpays and overworks workers, gets tax burdens shifted to everyone else, gets regulatory relief that might lead to some ecological disaster or life-taking catastrophe for which the government pays, or even gets a war for profit or control of resources and markets. Any good that comes from capitalism is a byproduct of the profit motive even if the profit comes from meeting human needs and desires.
Government can create the money supply. If you try to do so you face a long prison term. A government can of course print money to the extent of private productivity without inflation. Business (except in banks through fractional reserves) cannot create money.
That is not to say that government needs to show economy and efficiency.
Don't be so sure. A CEO of a defense contractor has a powerful incentive to bleed the government on behalf of his good buddies at the defense contractor. Governor Rick Scott (R-FL), boss of a for-profit network of medical clinics before being elected Governor, has proved wildly unpopular in Florida. Governor Rick Snyder of Michigan, another entrepreneur-turned-Governor, gets approvals far below average. The ability to turn on a dime from loyalty to stockholders or one's own gain to public service is not easy. Harshness in administrating a for-profit entity that people can quit if they dislike (if one is an oil-field geologist and dislikes Exxon-Mobil one might get a chance at BP)... but a country? It is difficult to uproot oneself even from Syria today.
I can hardly see an executive suite as anything other than a haven for pathological narcissists, if not high-functioning sociopaths. Corporate executives are hired to enforce the desires of elites who see working people as livestock at best and vermin at worst -- and serving those interests isn't for people of charity and decency. Recall Enron Corporation as an extreme example... and then some of the predatory lenders and corrupt rating agencies that foisted an economic disaster that threatened the severity of the three-year meltdown that followed the Crash of 1929.
You are right about the desire of the Right for term limits. Term limits have their problems -- most obviously they work as much against a competent and effective legislator as opposed to an incompetent or even corrupt legislator. They ensure a more rapid turnover of politicians -- and give more power to unelected lobbyists responsible only to their paymasters. (Government by lobbyists is a novel form of dictatorship!) They force perhaps a revolving door between government, business, and pressure groups. They can also force politicians with strong aspirations for high office to run for offices for which they need more preparation to do well, which is not good for the political process. A four-term Congressional Representative is,
ceteris paribus, more likely to be a more effective Senator than a two-term Representative.
The line between legislating and governing isn't so clear as it may seem to you. Mayors and Governors have become Senators, Representatives have become Governors, and city-councilmen have often become Mayors. Knowing what the People want and being able to achieve it within a legislature is a desirable trait in a mayor, Governor, or President.
...Conservative interests -- like cheap labor and tough law enforcement -- can themselves contradict. Conservatives ordinarily want an abundant supply of cheap, dependent, expendable, but competent labor. Greater profits can be made by underpaying workers because they are in no position in which to say no (don't kid yourself -- that is one of the objectives of "Right-to-Work" legislation). But cheap labor is a hardship for those who have no alternative -- and low wages imply hardships to people (children) who have no culpability in the system.
Note well: in a democracy, everything -- including stewardship of the economy -- is a legitimate concern of the elected leadership. It is not enough to say that efficiency is everything; if that efficiency comes with cruelty then the objectives are suspect. Workers have a right to concern themselves with issues of economic equity that some conservatives consider outside the realm of public debate and action. If Big Business could get away with it America would quickly revert to the norm of the Gilded Age for industrial workers -- kids in the workforce by age 10, 70 hours as the workweek, workers wrecked by 35 and dead by 40.
We now get to judge him on his results, and what he was before he was President no longer matters except as description. It would not matter now if the President did as he does after having spent most of his life as a long-haul trucker. We legitimately judge politicians on their results.