Meaning, Purpose, and Demerits of Commercialization
- Meaning of Commercialization
What is Commercialization?
Commercialization is the process of running a previously publicly owned and managed enterprise in such a way as to make it operate as a more efficient, profit-making venture.
In Commercialization, the ownership or government shareholding is not transferred to private ownership rather the enterprise is reorganised in such a manner that will improve its efficiency, and effectiveness and maximize profit. The enterprise is subjected to market discipline, while still remaining a public enterprise.
Reasons for Commercialization:
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