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Question
Attempt the following.
Merits of Statutory Corporation.
Solution
- Professional Management: Statutory Corporations are managed professionally. The directors and other executives are highly trained and specialize in their respective fields. This leads to efficiency in working.
- Rapid Decisions: Statutory Corporations enjoy autonomy. They can take quick decisions. There are less file work and less formalities to be completed before taking decisions.
- Efficient Staff: In Statutory Corporation, employees are given fair wages, better working conditions, and proper training and development programs are initiated for the employees. As a result, employer-employee relations are very cordial and the staff is highly motivated to perform better.
- Motivated Staff: I Statutory Corporations, employees are given fair wages, better working conditions, and proper training and development programmes are initiated for the employees. As a result, employer-employee relations are very cordial and the staff is highly motivated to perform better.
- Service Motive: They are formed to provide public utility services and promote consumer satisfaction. It provides essential commodities to people at reasonable rates.
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RELATED QUESTIONS
Select the correct option and rewrite the sentence:
A _________ is an autonomous corporate body created by the special Act of the Parliament or State legislature.
Select the correct option and rewrite the sentence:
A statutory corporation is answerable to ___________ Or state assembly whosoever creates it.
Give one word/phrase/term.
An autonomous corporate body created by the Special Act of the parliament or state legislature with defined powers, functions, and duties.
Give one word/phrase/term.
An organisation which is answerable to parliament or state assembly whosoever creates it.
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A ___________ has defined powers, functions and duties.
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Correct the underlined word and rewrite the following sentence.
A Statutory Corporation is not answerable to parliament or state assembly.
Explain the following term/concept.
Statutory Corporation.
Answer in brief.
State any four features of statutory corporation.
Justify the following statement.
There is no political interference in statutory corporations.
Justify the following statement.
There is professional management in statutory corporation.
Attempt the following.
Demerits of Statutory Corporation.
Match the pairs.
| Group ‘A’ | Group ‘B’ | ||
| A) | BHEL | 1) | Special Legislature |
| B) | Statutory Corporation | 2) | 49% paid up capital by govt. |
| C) | Departmental Organisation | 3) | Service Motive |
| D) | Private Sector | 4) | Railway |
| E) | Public Sector | 5) | Profit Motive |
| 6) | 51% paid up capital by govt. | ||
