impact of government policy changes on business.? class 12th chapter business environment.
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New Economic Policy, 1991 For achieving the objectives of development plans, the government resorted to an inward looking trade policy. Due to this, in 1991, the economy faced a serious foreign exchange crisis, high government deficit and rising trend of prices. As a result, the government decided to announce the New Industrial Policy, aiming at liberalisation, privatisation and globalisation of the Indian economy.
2. Privatisation It means giving greater role to the private sector in the national building process and at the same time drastically reducing the role of public sector. To achieve this, as per the New Industrial Policy, 1991, it adopted ‘disinvestment’, which means transfer of public sector enterprises to the private sector by way of dilution of government stake in public sector beyond 51%.
3. Liberalisation It refers to an end of licence, quota and many more restrictions and controls which were put on industries before 1991. The reforms aimed at deregulations and reduction of government controls, greater autonomy of private investment and less dependence on public sector.
4. Globalisation It refers to integrating our economy with the world’s economy. It is the system of interaction among countries of the world in order to develop the global economy. Physical geographical gap or political boundaries no longer remain barriers for a business enterprise to serve in a distant geographical market.
5. 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:
Increasing competition
More demanding customers
Rapidly changing technological environment
Need for developing human resources
Market orientation
Necessity for change
Loss of budgetary support to public sector
2. Privatisation It means giving greater role to the private sector in the national building process and at the same time drastically reducing the role of public sector. To achieve this, as per the New Industrial Policy, 1991, it adopted ‘disinvestment’, which means transfer of public sector enterprises to the private sector by way of dilution of government stake in public sector beyond 51%.
3. Liberalisation It refers to an end of licence, quota and many more restrictions and controls which were put on industries before 1991. The reforms aimed at deregulations and reduction of government controls, greater autonomy of private investment and less dependence on public sector.
4. Globalisation It refers to integrating our economy with the world’s economy. It is the system of interaction among countries of the world in order to develop the global economy. Physical geographical gap or political boundaries no longer remain barriers for a business enterprise to serve in a distant geographical market.
5. 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:
Increasing competition
More demanding customers
Rapidly changing technological environment
Need for developing human resources
Market orientation
Necessity for change
Loss of budgetary support to public sector
bablesunaina:
if this question come so what do we have to write.
about liberalisation privatisation and globalisation
or about the one
u write at the end
example increase in competion,more demanding customers,etc
yup mene jo lst me jo points likhe h unhe aap describe kr do
n jo upr diye h unki definition
bs
Ok thnkyou
hmm wlcum
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1. New Economic Policy, 1991 For achieving the objectives of development plans, the government resorted to an inward looking trade policy. Due to this, in 1991, the economy faced a serious foreign exchange crisis, high government deficit and rising trend of prices. As a result, the government decided to announce the New Industrial Policy, aiming at liberalisation, privatisation and globalisation of the Indian economy.
2. Privatisation It means giving greater role to the private sector in the national building process and at the same time drastically reducing the role of public sector. To achieve this, as per the New Industrial Policy, 1991, it adopted ‘disinvestment’, which means transfer of public sector enterprises to the private sector by way of dilution of government stake in public sector beyond 51%.
3. Liberalisation It refers to an end of licence, quota and many more restrictions and controls which were put on industries before 1991. The reforms aimed at deregulations and reduction of government controls, greater autonomy of private investment and less dependence on public sector.
4. Globalisation It refers to integrating our economy with the world’s economy. It is the system of interaction among countries of the world in order to develop the global economy. Physical geographical gap or political boundaries no longer remain barriers for a business enterprise to serve in a distant geographical market.
5. 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:
Increasing competition
More demanding customers
Rapidly changing technological environment
Need for developing human resources
Market orientation
Necessity for change
Loss of budgetary support to public sector
2. Privatisation It means giving greater role to the private sector in the national building process and at the same time drastically reducing the role of public sector. To achieve this, as per the New Industrial Policy, 1991, it adopted ‘disinvestment’, which means transfer of public sector enterprises to the private sector by way of dilution of government stake in public sector beyond 51%.
3. Liberalisation It refers to an end of licence, quota and many more restrictions and controls which were put on industries before 1991. The reforms aimed at deregulations and reduction of government controls, greater autonomy of private investment and less dependence on public sector.
4. Globalisation It refers to integrating our economy with the world’s economy. It is the system of interaction among countries of the world in order to develop the global economy. Physical geographical gap or political boundaries no longer remain barriers for a business enterprise to serve in a distant geographical market.
5. 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:
Increasing competition
More demanding customers
Rapidly changing technological environment
Need for developing human resources
Market orientation
Necessity for change
Loss of budgetary support to public sector
heheheh ...ditto
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