Abstract
The generally accepted poor performance of public enterprises is attributed in large part to state ownership. Public enterprise performance is also judged to be poor by purely financial criteria at aggregate and generalized levels. This paper undertakes two enterprise-level analyses in the Southern African kingdom of Swaziland. The study found that there are more fundamental factors than ownership which affect public enterprise performance. State ownership can be a bane instead of boon and the poor performance of an enterprise may be partly reflective of unsuccessful private entrepreneurship. The study also reveals some unique strategies in public enterprise management and significant implications for privatization programs.
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