BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Liberalization
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Privatization
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Liberalization and Privatization
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Globalization
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Detailed explanation-1: -Privatisation means giving greater role to the private sector in the national building process and drastically reducing the role of the public sector.
Detailed explanation-2: -Meaning of Privatisation It means the transfer of ownership, management, and control of the public sector enterprises to the private sector.
Detailed explanation-3: -Definition: The transfer of ownership, property or business from the government to the private sector is termed privatization. The government ceases to be the owner of the entity or business. The process in which a publicly-traded company is taken over by a few people is also called privatization.
Detailed explanation-4: -Objectives of Privatization Privatization deters government influence and aids economic growth. As private bodies do not have a political agenda, they focus more on spurring growth and efficiency within an organization for a greater generation of revenues.