What do know about Public Sectors?
Every Government has lot of
responsibility towards the public or society. Every Government takes lot of
steps for public interest and establishes enterprises or working body which
work for public interest and balance the economic. Profit is not the main objective
of these types of company. It is fully own and operated by government like
railways, posts office, LIC, transports and electric supply.
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| What do know about Public Sectors |
Characteristic of Public Sector
ü Government ownership – These companies are fully owned
by government or have at least 51% stake in company. Public allow to invest of
there is a joint sector.
ü Not for economic gain – These are not formed for profit
making but they do production and distribution of goods and service for public
interest at a low price. Also they work for increasing job opportunity, balance
the economic growth in different sectors.
ü Liberal attitude – These companies does not have any
commercial objective. These are established for certain vital objective of society.
Management has also adopts the liberal attitude towards the different
interested group.
ü Lack of decision making – These company formed by
government with lot of rules and regulation. So there are lots of points which
control the functioning due to this lack of decision making, low level of
initiatives and also fear to face etc.
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