| dc.description.abstract | Growth of the Public Sector is a phenomenon characteristic of many developing countries
today. The protective government policies and controls are such that industry, whether it is
in the public or private sector, can reap handsome profits. The co-existence, therefore, of
private firms which behave like the nineteenth century profit maximisers and earn sub
stantial returns on investment, and State-owned business enterprises whose overall
performance and profitability are generally at low levels in these countries naturally
attracts considerable attention. Some observers have concluded from this that private
enterprise is ruthless and short-run profit oriented and/or that state-owned business firms
suffer from inherent lethargy and inefficiency. Others argue that the discouraging per
formance of public enterprises can be traced to their teething troubles, lack of adequate
technical and administrative skills and improper planning and price policies of the govern
ment. All observers, however, agree generally that management is a crucial limiting factor
in this context. | |
