Private, Public and Global Enterprises
PRIVATE, PUBLIC AND GLOBAL ENTERPRISES
Business Enterprises - Private, Public and Joint Sector Enterprises
➢ Private Sector Enterprise- This type of enterprise is managed and controlled by individuals or a group of individuals.
➢ Joint Sector Enterprise- This type of enterprise is jointly managed and controlled by both individuals and the government.
➢ Difference between Private and Public Sector Enterprises
|Basis of Difference||Private Sector Enterprise||Public Sector Enterprise|
|Ownership||Owned by private individuals||Owned by the state or the central government|
|Prime objective||Profit||Public welfare|
|Management||Managed by professional managers||Managed by bureaucrats|
|Accountability||Accountable to owners||Accountable to the public|
|Political interference||Less||Comparatively more|
|Decision making||Fast||Comparatively slow|
❖ Forms of Public Sector Enterprises
❖ Departmental Undertaking (DUs)
➢ Features of Departmental Undertakings
ii. The employees in these enterprises are the servants of the government, as directed by the IAS.
iii. These enterprises are regarded as the subdivisions of the government; they are under the direct control of the concerned ministry.
iv. These enterprises are liable to the ministries that manage and control them.
v. These enterprises are subject …
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