Explain the impact of it on government & public services
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Answer:
Impacts of Government Policy The New Industrial Policy, 1991 brought reforms in terms of Liberalisation, Globalisation and Privatisation. These had a major impact on the working of enterprises in business and industry. These have posed several challenges to the Indian corporate sector. They are:
Technological environment Increased competition force the firms to develop new ways to survive and grow in the market. Thus, there is a need to adopt the new technologies in order to survive in the long run.
Need for developing human resources The new market conditions require people with higher competence and greater commitment. Hence, there is a need of developing human resources.
Market-orientation The business enterprises start focusing on market-oriented techniques rather than production-oriented techniques.
Necessity for change After 1991, the market forces have become turbulent. As a result, business enterprises have to continuously modify their operations.
Explanation:
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