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NCERT Solutions for Class 11 Business Chapter 3 - Private, Public, And Global Enterprises

NCERT Solutions

NCERT Solutions for Class 11 Business Chapter 3 - Private, Public, And Global Enterprises

Last updated date: 20th Apr 2024

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NCERT Solutions (CBSE Class 11) - Private, Public, and Global Enterprises - Free Pdf to Download

NCERT Solutions of Private, Public, and Global Enterprises Chapter 3 Class 11 - Business Studies is present in this article in the form of a free pdf. These NCERT solutions will help the students in getting good grades in their exams and develop a better understanding of the chapter. The questions in the NCERT book must be thoroughly practised by all the students to be well prepared for their exams.

Class:	NCERT Solutions for Class 11
Subject:	Class 11 Business studies
Chapter Name:	Chapter 3 - Private, Public, and Global Enterprises
Content-Type:	Text, Videos, Images and PDF Format
Academic Year:	2024-25
Medium:	English and Hindi
Available Materials:	Chapter Wise
Other Materials	Important Questions Revision Notes

Hence, NCERT solutions for Class 11 Business Studies Chapter 3 would help the students with this and allow them to revise the complete syllabus to gain a better understanding of the chapter and do well in the examinations. The chapter is a bit difficult to understand for some students, and the solutions would help them as well.

NCERT Solutions of Private, Public, and Global Enterprises Chapter 3 Class 11 - Business Studies - Benefits of NCERT Solutions

You can find below the benefits of the NCERT Solutions for CBSE Class 11 Business Studies Chapter 3 — Private, Public, and Global Enterprises.

These solutions will clear your concepts related to the Private, Public and Global Enterprises chapter.
By referring to these solutions, students will be able to solve all questions asked in the NCERT exercise and also answer the questions in the exam confidently.
All the questions with answers are given in this article. Also, important topics are described in precise and easy-to-understand language.
These answers are created by the subject matter experts with an in-depth understanding of the topics covered.
These NCERT Solutions are error-free and are prepared by keeping in mind the student’s need for faster and more efficient revision of chapters without leaving out vital information.
It enables students to effectively prepare their topics in less time and even on the night before the exam. The notes come with solved questions to enable them to test their knowledge.

NCERT Solutions of Private, Public, and Global Enterprises Chapter 3 Class 11 Business Studies - Topics Covered

Students looking for NCERT Solutions of Chapter 3 Private, Public and Global Enterprises of CBSE Class 11 Business Studies must know the topics covered in this chapter according to the latest syllabus prescribed by the CBSE Board. This chapter includes the following topics:

Private sector and private sector
Forms of organising public sector enterprises

I. Departmental undertakings (Features, merits and limitations)

II. Statutory corporations (Features, merits and limitations)

III. Government company (Features, merits and limitations)

Changing role of the public sector

Development of infrastructure
Regional balance
Economies of scale
Check over-concentration of economic power
Import substitution
Government policy towards the public sector since 1991

Global Enterprises

Features (Huge capital resources, Foreign collaboration, Advanced technology, Product Innovation, Marketing strategies, Expansion of market territory, Centralised control)

Joint Ventures - Meaning

I. Types of Joint Ventures

Contractual Joint Venture
Equity-based Joint Venture (EJV)

II. Benefits of Joint Ventures

Public-Private Partnership (PPP)

NCERT Solutions for Class 11 Business Studies Chapter 3 Private, Public and Global Enterprises - Key Takeaways

Private Sector And Public Sector Enterprises

Private sector enterprises are businesses that are owned by private individuals or groups and are not owned by the government. The main types of organizations that fall under the private sector include partnerships, businesses, and companies. Public sector enterprises, on the other hand, are those that have government ownership. This may include the state or the central government, and through these enterprises, the government participates in the economic activities of the country. The capital is contributed by the government to these enterprises, and public welfare is the primary motive of these undertakings. The public enterprises are accountable to the people for whatever they do, and their control and management lie entirely or partly with the government.

Department Undertakings and Statutory Corporations

Department undertakings are recognized departments of the ministry and are fully controlled and financed by the state or central government of the country. The examples that fall under the category include Indian railways and telegrams. There are no separate entities in these undertakings, and the finance comes directly from the government. The merits of these undertakings include the ability to achieve the objectives of the government, being a source of national income, and allowing the government stricter control when it comes to defence production and other sensitive areas of production. However, these organizations also lack flexibility and suffer from red-tapism.

Statutory organizations, on the other hand, are created under unique Acts passed in the parliament, and the State Assembly and its functions are mentioned in the Act. They have their staff and are usually independently financed, such as the Unit Trust of India or LIC. This gives such enterprises internal autonomy and the ability to make quick decisions. Still, in reality, there is little to no operational flexibility that such organizations enjoy, which usually leads to the development of monopolies.

Government Companies

A government company is one that has not less than 51 per cent share of the central or state government or joint ownership of both. Such organizations are formed according to the provisions of the Companies Act, and an executive decision of the government is needed. At the same time, it has autonomy in management and functioning/ organizations like Hindustan Cables and State Trading Corp. of India are examples of such companies, and they are able to control the market and curb unhealthy business practices. However, such companies often face interference from the government in their operation and bear a constitutional responsibility that overshadows their ability to make a profit.

Solved Examples

Choose the correct option:

PSEs are owned by:
Joint Hindu Families
Government
Private parties
MNC’s

Answer: Government.

Answer the following:

1. What are the different types of PSEs?

Ans. The different types of PSEs are as follows:

Statutory Corporation
Departmental Undertaking
Statutory Corporation

2. State some features of MNCs.

Ans. Some features of MNCs are as follows:

Product innovation
Foreign collaboration
Advanced technology
Huge capital resources

Tips to Study Business Studies

Following are the suggested tips which will help the students to study Business Studies:

Read the chapters well.
Go for solving HOTS questions (High Order Thinking Skills). This will help you to logically interpret the whole chapter.
You can also practice the Previous Year’s Questions and NCERT Solutions and study the Important questions as well.
Study the importance and features of each concept of Business Studies thoroughly.

Why Choose Vedantu?

Class 11 Business Studies Chapter 3 has been covered in its entirety by the solutions provided in Vedantu. The Class 11 Business Studies Chapter 3 NCERT solutions are available for free in PDF format, which can be accessed from anywhere, according to the convenience of the students. Business Studies Class 11 Chapter 3 NCERT solutions are compiled by expert teachers who have years of experience and have provided the solutions in a very understandable and step-by-step format that would help the students understand the marking pattern answering style and the types of questions they might face in the exams.

Conclusion

Vedantu is an excellent way to quickly revise the syllabus and understand the critical points of the chapter that would help the students score well in the exams.

NCERT Solutions of Private, Public, and Global Enterprises Chapter 3 Class 11 - Business Studies is another study material that will help the students to prepare for their exams well.

Do download the free pdf of NCERT Solutions and refer to it for future study.

Quick Links

FAQs on NCERT Solutions for Class 11 Business Chapter 3 - Private, Public, And Global Enterprises

1. Briefly describe the various organizations that are included in the private sector.

The different types of organizations in the private sector include various companies. Sole proprietorship refers to a type of organization where the management and ownership of a business fall under the control of a single individual who takes all the risk of the business and enjoys the entire profit himself. Such a type of company is usually an individual-owned business. A partnership is where there is an association of two or more people who have agreed to carry out business together, and the risks and profits are divided between them. This is a very commonly seen method of managing a business. The other types of organizations in the sector include joint Hindu families, Joint Stock companies, and cooperative societies.

2. State the different types of organizations that fall under the public sector.

There are different types of organizations that come under the public sector. The first of them is departmental undertaking, in which the enterprises are established as ministry departments and are considered an extension of the ministry itself. Some examples of such organizations include the railway and telegraph.

Such organizations are important since they help the government to control various sensitive issues such as defence production. The statutory corporations are established through a special act by the parliament and are financially independent body that has autonomy in managing their affairs. Government companies also fall under the category of public sectors and have ownership of the government. These companies are established solely for business purposes.

3. How does the government maintain a regional balance in the country?

As discussed in the chapter, the government establishes regional balance in the country by establishing several steel plants in rural areas. It helps in the development of the rural economy by generating employment and providing financial stability to the rural population. Similarly, several other industries are set up by the government in rural areas to increase the contribution of the rural resources and population to the country's economic development. The direct impact of setting up industries is that it increases the connectivity of the rural areas through better infrastructure in the form of roads, railways, bridges etc.

4. Explain the concept of the private sector and public sector.

The Private Sector involves companies, organisations and institutions that are owned and run by an individual or a group of individuals. The sole purpose of the private sector enterprises is profit maximization. The Public Sector includes those organisations and institutions that are partly or completely owned and run by the government. The government, through its participation in the public sector, participates in the economic growth of the country. The main purpose of public sector enterprises is social welfare.

5. What was the role of the public sector before 1991?

The chapter discusses that the role of the public sector before 1991 was to develop the country's heavy industries and infrastructure because of poor infrastructure and lack of heavy industries before 1991. The public sector was crucial in maintaining regional balance by setting up steel plants in the rural backward regions to eradicate the rural-urban divide. The public sector also ensures that the economic wealth of the country is not concentrated in the hands of a few individuals. It was also important to make India self-reliant by reducing its imports and through the production of all essential goods and services domestically.

6. Why are global enterprises considered superior to other business organisations?

Global enterprises are considered superior to other business organisations because of several factors. Firstly, global enterprises have a wide market which means they have greater geographic and resource accessibility. Secondly, global enterprises have several options and sources for raising funds due to their international presence. Thirdly, because of the sufficient availability of funds, global enterprises have a superior and more efficient Research and Development network that helps them to create the best quality products.

7. Where can I get the NCERT Solutions for Class 11 Business Studies Chapter 3?

Vedantu's NCERT Solutions Business Studies Chapter 3 can be accessed from the Vedantu website or the app, which is the best source of NCERT Solutions for Class 11 Business Studies, Chapter 3. Here, each question of this chapter is answered comprehensively in a simple language for better understanding. If you prepare this chapter with the help of Vedantu's NCERT Solutions, you will be able to understand the chapter better, and it will also help you to develop great answer writing skills to score the highest marks in the Business Studies exam. You can also download the NCERT Solutions free of cost.