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Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Planning5 Marks
Question
Explain the various forms of enterprises.
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Answer

Business enterprises may be broadly classified under following three categories:
  1. Private Sector Enterprises:
Those enterprises which are owned, controlled, and managed by private individuals.
These enterprises can be:
  1. Sole-proprietorship.
  2. Partnership.
  3. Joint Hindu Family Business.
  4. Cooperative.
  5. Company.
  1. Public Sector Enterprises: These enterprises are owned, controlled and operated by public authorities, with welfare as primary and profit as secondary goals, are called public sector enterprises. These enterprises can be of following types:
    1. Departmental Undertaking.
    2. Public Corporations.
    3. Government Companies.
  1. Joint Sector Enterprises: It is a form of partnership between the private sector and the government where management is generally in the hands of private sector, and with enough representation on Board of Directors by the Government too. Resources are mostly shared equally.

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