1. Role of Private Sector vs Public Sector Since Independence Private Sector Role: Public Sector Role: 2. Forms / Types of Public Sector Enterprises A. Departmental Undertakings Definition: Government departments that run businesses as part of government work. Features: Advantages: Disadvantages: Examples: Indian Railways, Postal Services B. Public / Statutory Corporations Definition: Organizations set up […]
1. Business Enterprises & Types Types of Enterprises 2. Forms of Private Sector Enterprises A. Sole Proprietorship Definition: Business owned, financed, and managed by one individual. Features (5) Advantages (5) Disadvantages (5) B. Joint Hindu Family (JHF) Business Definition: A business owned by Hindu Undivided Family and managed by Karta. Features (5) Advantages (5) Disadvantages
1. Role of Business in Development of an Economy 2. Types of Human Activities A. Economic Activities: B. Non-Economic Activities: 3. Difference Between Business, Profession, and Employment Basis Business Profession Employment Commencement Can be started anytime Requires qualification/license Requires appointment by employer Qualification No specific qualification needed Professional degree/skills needed Education/skills as required Investment Requires
