GOVERNMENT
ORGANISATION
Public enterprise, as a form of business
organization gained economic importance in most of the countries of the world
in recent years. During the twentieth century, various Governments started
participating in industrial and commercial activities. Previously, the role of
Government was limited only to the maintenance of law and order. Industrial revolution helped
all-round growth of industries. Private entrepreneurs worked, only for the
profit motive. The exploitation of consumers and workers by private
entrepreneurs was very common. The development of industries was left to the
judgement of private enterprises. Therefore, Government intervention became
necessary to safeguard the interests of the public, even in developed countries
like USA and UK.
The Government thus, can own and control
industry and business in two ways:
·
By starting a new unit
·
By taking over an existing
industrial or commercial unit
owned by private persons.
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