management of public enterprises

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By: phagunsethi (114 month(s) ago)

UNERSTANDABLE AND SIMPLE PRESENTATION

By: phagunsethi (114 month(s) ago)

UNERSTANDABLE AND SIMPLE PRESENTATION

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MANAGEMENT OF PUBLIC ENTERPRISES : 

MANAGEMENT OF PUBLIC ENTERPRISES Presented by: P.KULABHUSHAN BHARADWAJ

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What is “PUBLIC” in the term “PUBLIC ENTERPRISE” ? Three implications: Government ownership (eg. I O C) Widespread ownership (eg. H U L) Open access (eg. Reliance Fresh)

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Definition: An industry or a commercial firm that is owned, maintained and controlled by the Government. Features: Objective of the organization Not earning the profits Seeing for the common good of society Responsibility towards shareholders Exception in India Responsible directly to the Government & concerned Minister

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Some of the Objectives are: To influence employment, balance of payments & regulation of market To promote rapid economic development of unprivileged sectors To direct the finance & monetary policy To ensure continuation of activities of low financial yield in which private initiative is lacking Creating necessary infrastructural facilities for performing its activities To make the country self reliant and internationally competitive in technology

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Forms of Organization used in a public enterprise: Departmental Organization Features: Run by a Govt. Organization with a minister at top Financed by annual budget allocations Revenue earned & expended are done through Govt. treasury Audit & accounting rules are the same that apply for other Govt. depts. Examples: Railways, Post & Telegraph Dept. Statutory corporation Features: Created by special Act of Parliament or State Legislature Thus accountable to either of these two. Capital owned & subscribed by the Govt. Management in the hands of Board of Directors appointed by the Govt.

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Employees are mostly recruited by itself also has financial autonomy to rise its own funds Exempted from many regulatory & prohibitory laws that apply to Private Enterprises Examples: O N G C, L I C etc…… Government Company Features: Formed under Companies Act, 1956 Raises its Capital by selling its shares (either entirely or partly Govt.) Accountable both to its Shareholders & Parliament or Legislature Its Auditor appointed by Central Govt. on the advice of Comptroller & Auditor General of India. Employees are completely recruited by the firm itself Examples: H U L, Indian Telephone Industry etc……..

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Problems of Public Enterprises in India: Bureaucratic Management Parliamentary control & lack of Autonomy Lack of proper price policy Delays & cost over-runs Overstaffing Poor Profitability Poor labour-management relations

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Government efforts to improve Public Sector: Reduction in the scope of the Public Sector Memorandum of Understanding Navratnas Bureau of Public Enterprise

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Thank you n All d best

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