Transcription of PUBLIC SECTOR ENTERPRISES
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PUBLIC SECTOR ENTERPRISES
166 NotesMODULE - 2 Business OrganisationsBUSINESS STUDIES7 You have learnt about various forms of business organisations, which primarily relate toprivate ENTERPRISES . Traditionally, business activities were left mainly to individual andprivate organisations, and the government was taking care of only the essential servicessuch as railways, electricity supply, postal services etc. But, it was observed that privatesector did not take interest in areas where the gestation period was long, investmentwas heavy and the profit margin was low; such as machine building, infrastructure, oilexploration, etc.
Looking at the nature of the public enterprises, their basic characteristics can be summarised as follows: (a) Government Ownership and Management : The public enterprises are owned and managed by the central or state government, or by the local authority. The government may either wholly own the public enterprises or the ownership may
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