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SS3: COMMERCE - 1ST TERM

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  1. Business and Its Environment | Week 1
    2 Topics
    |
    1 Quiz
  2. Introduction to Marketing | Week 2
    6 Topics
    |
    2 Quizzes
  3. Consumer Protection | Week 3
    1 Topic
  4. Instruments for Protection | Week 4
    9 Topics
  5. Agencies that Educate and Protect Consumers | Week 5
    8 Topics
    |
    2 Quizzes
  6. Business Documents | Week 6
    3 Topics
    |
    2 Quizzes
  7. Means of Payment | Week 7
    5 Topics
    |
    1 Quiz
  8. Commercialization | Week 8
    4 Topics
  9. Privatization | Week 9
    4 Topics



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Meaning of Commercialization

Commercialization is a process which involves the adoption of commercial and competitive profit objectives in the management of government enterprise. It aims at increasing efficiency and making the enterprise self-sufficient. It is a policy designed to ensure that public enterprises involved are viable and competitive to maximize profit. The organizations will no longer need government subvention but will operate as profit-making entities.

It is a policy geared towards making state-owned enterprises become more efficient and profit-oriented.

Meaning of Privatization

Privatization on the other hand is a policy designed to enable individuals and private or corporate organizations to take over the ownership and control of government businesses such as public companies and corporations.

The following are the major parties involved in privatization and commercialization;

a. National Council of Privatization.

b. Bureau of public enterprises

c. Technical and financial advisers

d. Floatation advisers

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