Business Studies

Private, Public and Global Enterprises

Question:

"Public sector has changed its role since 1991 a great deal". Do you agree? Justify your answer.

Answer:

The role and importance of public sector changed with passage of time.

  1. Development of infrastructure: At the time of independence, India suffered from an acute shortage of heavy industries such as engineering, iron and steel, oil refineries, heavy machineries, etc. Because of huge investment requirement and long gestation period, private sector was not willing to enter these areas. The duty of development of basic infrastructure was assigned to public sector which it discharged quite efficiently.
  2. Regional balance: Earlier, most of the development was limited to a few areas like port towns. For providing employment to the people and for accelerating the economic development of backward areas many industries were set up by public sector in those areas.
  3. Economics of scale: In certain industries (like electric power plants, natural gas, petroleum, etc) huge capital and large base are required to function economically. Such areas were taken up by public sector.
  4. Control of monopoly and restrictive trade practices: These enterprises were also established to provide completion to private sector and to check their monopolies and restrictive trade practices.
  5.  Import substitution: Public enterprises were also engaged in production of capital equipments which were earlier imported from other countries. At the same time public sector companies like STC and MMTC have played an important role in expanding exports of the country. Very important role was assigned to public sector but its performance was far from satisfactory which forced government to do rethinking on public enterprises.
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Private, Public and Global Enterprises

Q 1.

Multinational Companies have done more harm than good. Explain.

Q 2.

Discuss the merits and demerits of Departmental Undertaking.

Q 3.

State the various types of organizations in the private sector.

Q 4.

Why is the government company form of organization preferred to other types in the public sector?

Q 5.

Explain three trends indicating changing role of public sector.

Q 6.

Can the public sector companies compete with the private sector in terms of profits and efficiency? Give reasons for your answer.

Q 7.

"MNC's are in a position to exercise massive control on an economy."Substantiate.

Q 8.

Explain the main features of Multinational Company.

Q 9.

"Public sector has changed its role since 1991 a great deal". Do you agree? Justify your answer.

Q 10.

Explain the merits and demerits of public-private partnership.

Q 11.

Give the meaning of Government Company. Explain three merits and three limitations of Government Company.

Q 12.

What was the role of the public sector before 1991?

Q 13.

What are the benefits of entering into joint ventures?

Q 14.

What is Statutory Corporation? Explain its features, merits and demerits.

Q 15.

Explain the concept of Public Sector and Private Sector.

Q 16.

Describe the Industrial Policy 1991, towards the public sector.

Q 17.

Why are global enterprises considered superior to other business organizations?

Q 18.

"Global enterprises are giant both in size and operations."Substantiate this statement.

Q 19.

Define Joint Venture and explain its major benefits.

Q 20.

How does the government maintain a regional balance in the country?

Q 21.

What are the different kinds of organizations that come under the public sector?

Q 22.

"The basic rationale of public sector has changed significantly."In the light of this statement explain any four initiatives taken by the government.

Q 23.

List the names of some enterprises under the public sector and classify them.

Q 24.

What is the difference between Public and Private sector?

Q 25.

Differentiate between Statutory Corporation, Departmental Undertaking and Government Company.