Private Sector Organisation.
Explain the following terms/concept :
Private Sector Organisation.
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1. It is owned, managed, controlled and financed by individuals or group of individuals.
2. It includes – Sole Trading Concern, Joint Hindu Family Firm, Partnership Firm, Joint Stock Company and Co-operative Society.
3. Its main objective is to maximise profit.
4. It is managed by the owner himself or by their elected representatives.
5. It generally operate in industrial and commercial areas only.
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