A public sector enterprise is defined as any industrial undertaking owned and managed by the government with a view to maximise social welfare and address the public interest.
Public enterprises are autonomous corporations established, controlled and run by the state and are usually engaged in industrial and commercial activities.
A typical public enterprise is fully or near full is invested by the government with aim to provide goods and services to the public at a reasonable price.
In simple terms, a public sector enterprise is defined as any industrial undertaking owned and managed by the government with a view to maximise social welfare and address the public interest.
In some cases, public enterprises are established in the sectors ignored by private sectors due to long gestation period or low profit margin or heavy investment in infrastructure. In India, public enterprises are also known as public sector undertakings.
From the Book – ‘ Know Everything about Corporate Social Responsibility ‘
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Also Read:
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- What is Business?
- What is a Business Organisation?
- What is Corporate?
- What is a Startup?
- Who are the Stakeholder?
- What is a Multinational Corporation?
- What is Competitive Advantage?
- What is Foreign Investment?
- What is Economic Reform?
- What is Industrial Reform?
- How are the Reforms and Fiscal Policies Linked?
- How does Growth Impact Employment?
- What is a Labour Market?
- What is Humanistic Management?
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