All money earned through pursuing business activities or through donations goes right back... It is clear from the following disadvantages which it is creating for the economy. A Government company is a company which is registered under the Companies Act and in which not less than 51% of the paid up capital is held by the Government. What is a state owned organisation. Lack of Continuity in Policies – The chairman and senior officers of government companies are frequently changed. Name of the new party to be announced at a rally in Tiruchi. Explain three merits and three limitations of Government Company.
Ineffective Board of Directors: In many cases, the Directors of a Government company are selected not on the basis of competence but on other criteria. Hindu Undivided Family Business: It refers to a form of organization wherein the business is owned and carried by the members of the Hindu Undivided Family (HUF). The directors who are chosen from various ministries, interfere in the operation of company. Now and again the government has begun ventures under its own specializations. It leads to depletion of natural resources. Types of Public Sector Undertakings. The three merits of a departmental undertaking are: - The government enjoys full control over the departmental undertaking. Indirect Statutory Control: There is statutory control on a statutory corporation though it is not direct because of autonomy of the corporation. It has to function according to the rules and regulations of the Government. Public sector works for social welfare while private sector works for profit motive. There are certain provisions which are applicable to the appointment/retirement of directors and other managerial personnel. For instance, the foreign Exchange Regulation Act has laid down the limit of permissible foreign shareholders in Indian companies. They play a crucial role in the economic development of the nation.
Whenever any change is required in any of these, an amendment to the concerned Act is required which is very time-consuming. Under this system, public sector units were given clear targets and operational autonomy for achieving those targets. When international corporations invest in developing countries through joint ventures, they are able to benefit from low cost of raw materials and labour. Separate legal entity – A government company has a separate legal entity, apart from the Government. These enterprises are established as departments of the ministry and are considered as part of an extension of the ministry itself. Tfefine a public corporation. Pses are organisations owned by nike. Profit earned by such corporation is used for providing services to the society. When two or more businesses join hands for mutual benefit and common purpose, it is called: (a) Public Private Partnership (b) Joint Venture.
Examples of statutory corporations are Reserve Bank of India, Life Insurance Corporation of India, Food Corporation of India, etc. Define a departmental organisation. Bharat's sales had $42. But the fact of the matter is that public sector enterprises are here to stay. Long Answer Type Questions. For example, Reserve Bank of India is free to decide bank rate, cash reserve ratio, etc., according to the needs of business environment. However, the Act provides for a few issues that require the prior approval of the particular ministry. Plus One Business Studies Notes Chapter 3 Private, Public and Global Enterprises. These were likewise enterprises including huge speculation, long growth periods in project execution, and subsequent extensive stretches of hanging tight for getting profits from ventures made. Therefore, it may change its strategies and policies as required by the changing business environment. But in 2001 it is again reduced to 3 industries. Development of infrastructure: It is the responsibility of the Government to provide infrastructural facilities to the core sector which requires huge capital investment, complex and upgraded technology etc. It is managed in the same way as a Government department is managed. Promote healthy business practices – These companies curb unhealthy business practices by providing goods and services at reasonable prices.
Government Management. There can't be any misutilisation of funds. Where there is dealing with public, rampant corruption exists. These undertakings may be under the central or the state government and the rules of central/state government are applicable and conduct their activities through officers of the Government.
As a result, the joint business or joint venture can grow more, quickly and more efficiently. Their market information systems are reliable and up-to-date leading to effective advertising and sales promotion. These kinds of undertakings become independent legitimate elements; they should have a typical seal for their lawful exercises. There is no need to get a bill passed by the Parliament or State Legislature. Pses are organisations owned by the government. Bank of India posted a 26% y-o-y rise in net profit for the quarter ended September and aims to bring…. Private sector employers are more likely to offer telecommuting options, a casual dress code, bonuses, as well as free snacks. Afterwards, the corporation may raise funds through loans from the Government and financial institutions. 1st PUC Business Studies Private, Public and Global Enterprises Additional Questions And Answers. Where economic control is necessary, for example, state trading in essential commodities, rationing, etc.
When two businesses enter into a joint venture one of the parties' benefits from the other's goodwill already established in the market. Free Ncert Solutions for 11th Class Business Studies Private, Public And Global Enterprises - Studyadda.com. There are six industries under compulsory licensing today. Clash of Different Interest Groups: Very often, the Board of Directors of a statutory corporation is constituted to represent various interest groups. State Company: This class incorporates any organization which possesses more than or equivalent to 51% of the offer heavily influenced by the local government. In a period in which accessibility of long haul capital was bountiful at low loan fees through two-sided credits and additionally gives, business contemplations were not significant, the abrogating objective having been to disclose area accomplish directing levels at practically any expense.
Public Accountability: Public accountability in a departmental undertaking is high because it works like a Government department and the Government is accountable to the Parliament or State Legislature. Ambush marketing is not a new phenomena but the advent of social media has given it a new spin. In the light of this statement explain any four initiatives taken by the government. The management and administration of these companies therefore rests in the hands of the government which may not make economically sound policies due to political considerations. A Government company is a company in which more than 50 per cent of the paid-up capital is held by the Central Government, the State Government or jointly by the Central and the State Governments. A department undertaking suffers from the absence of continuity of policies because of frequent change of government officials and ministers and change of government. Suitable form – It is the most suitable form of organisation where national security is concerned since it is under the direct control and supervision of the concerned Ministry. Answer: Some of the enterprises under the public sector are as follows: Question 5.
It has greater accountability to the parliament. Better Management – A Government company may have better management because it is free to appoint managerial personnel. In a Government company, there is room for joint ownership by the government and the members of the public. The company logo is a familiar sight of Indian roads thanks to its network of over 14, 000 fuel stations. Motivation for Employees: A statutory corporation is free to decide its service conditions. Due to their giant size, they occupy a dominant position in the market. State enterprises give a fair deal to laborers.
A few lines from the Economist's Special report on the future of the state (March 19, 2011) are worth quoting: "The disruptive reforms that have so changed the private sector should now be let loose on the public sector---the Leviathan can be made far more efficient. Colleges and Organizational Structure of Universities. Therefore, it may adopt a professional approach in managing its affairs. Appointments of Employees – Its employees are appointed according to its own rules and regulations as contained in its Memorandum and Articles of Association which contain objective and internal rules and regulations of company respectively.
How does the government maintain a regional balance in the country?
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