ABSTRACT
This chapter commences with conceptualising monitoring in the context of public enterprise. Two levels of monitoring will be distinguished: the enterprise-level and the all-public enterprise level. The term monitoring conveys different meanings to different people. For the purpose of analysis it may be understood as a running appraisal of enterprise operations in a comprehensive manner by using indicators which encapsulate the processes and substance of the operations. It is to be distinguished from ‘control’. In fact, a good monitoring system can yield the benefit of abridging governmental control while enriching its quality. A good monitoring system should bifurcate the area which is best left to the chief executive of the enterprise and that which the government has to monitor. The formulation of indicators in an enterprise-specific manner is the most crucial part of the monitoring system. These are divisible into three categories: financial, physical, and economic or macro.
