Explain the meaning and features of private enterprises.

1.	Explain the meaning and features of private enterprises.
Answer» Private sector enterprises refer to enterprises owned and managed by private entrepreneurs. Features of private enterprises: 1. Ownership and Management: Private sector enterprises are owned and managed by private entrepreneurs. 2. Profit Motive: The main objective of private sector enterprises is to earn profit instead of rendering services to the society. 3. Independent Management: These enterprises are managed by the owners themselves or through their elected representatives. There is no interference by the Government in internal management.

Answer»

Private sector enterprises refer to enterprises owned and managed by private entrepreneurs.

Features of private enterprises:

1. Ownership and Management: Private sector enterprises are owned and managed by private entrepreneurs.

2. Profit Motive: The main objective of private sector enterprises is to earn profit instead of rendering services to the society.

3. Independent Management: These enterprises are managed by the owners themselves or through their elected representatives. There is no interference by the Government in internal management.

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