(viii) Separate Legal Entity : A Government Company is a corporate body created under the Companies Act. The corporation may exercise all powers expressly given it by statute and by its articles of incorporation. Question 1. Demerits of Statutory Corporation. There is no time frame and the employees are not devoted. Give one word/phrase/term.The organisation which performs its all activities as an integral part for government only. N/S Corporation: Defendant: Westmatic Corporation: Case Number: 2:2023cv05241: Filed: June 30, 2023: Court: US District Court for the Central District of California: Autonomy is only on paper and not in practice. Answer: Question 4. Give any three Features of this organisation. The shares of government company are purchased in the name of A statutory corporation isn't just a company owned by the government. Statutory Corporation is managed by Board of Directors nominated by government. Answer: Answer. 11. Question 5. It is owned, managed, controlled and financed by individuals or group of individuals. (ii) Inflow of Foreign Capital: Multinational corporations bring much needed foreign capital for the rapid development of developing countries. Give one word/phrase/term.The organisation in which there is direct and absolute control of government over the enterprise. It is managed by Board of Directors appointed by Government and Shareholders. Answer:These are established as departments of the ministry and are financed, managed and Government Companies are established for purely business purpose and to complete with the private sector. (d) Board of Industrial and Financial Reformation It is concern with giving with profit making and service to the people. (a) Statutory corporation (b) government company (c) MNC Answer: (a) Statutory corporation Question 3. forms of business organisation; class-11 . (c) Bharat Heavy electrical Limited (d) All of the above a) parliament b) public c) 1911 or state assembly whosever c) employees Advertisement rajebhaushinde7 is waiting for your help. MNCs are characterised by possessing huge financial resources. and as such they are treated as Government employees. Departmental Organisation, Question 3. Direct Control: These organizations are properly managed and supervised by the qualified Government Staff Minister at the top is responsible to the Parliament for its operations. Question 3. Answer:The role and importance of public sector changed with passage of time. It can only discuss policy matters & the overall performance of corporations. III. Question 2. Public sector Organisation, Question 6. (c) Statutory Corporation (d) Global Enterprises There is direct control of Government on departmental organisation. Departmental organisation performs its all activities separately from government. Therefore, they may be tempted to do certain things which may go against public interest. Corporate body, No political interference, Own staffing system are the features of Statutory Corporation. Explain merits and demerits of statutory corporation. Advanced Technology and international business operations are done by MNC. It has full autonomy as per provisions to Companies Act, 2013. (ii) Rapid Decisions : Statutory Corporations enjoy autonomy. is an autonomous corporate body created by the special Act of the parliament or State legislature. Give one word/phrase/term.An organisation which is answerable to parliament or state assembly whosoever creates it. to motivate them to set up industries in backward regions. Government on the advice of appoints auditor of government company. (a) Public Private Partnership (b) Joint Venture Multinational corporation put an end to exploitative practices of local monopolists. Answer No one rated this answer yet why not be the first? Explain Merits and Demerits of Multinational Corporation (a) 10. MNCs are powerful entities. (v) Service Motive : They are formed to provide public utility services and promote consumer satisfaction. Question 2. tatutory corporation can borrow from public by issue of bonds. Name the business organisation, which is self-financed, delegates authority, and run by the government as an integral part of it. Multinational corporations are controlled by parent companies and mostly home strategic. Question 3. It can only discuss policy matters & overall performance of corporations. Main objective of Departmental Organisations is to provide services to public. (a) President of India, Question 6. Answer: Question 2. Departmental Organisation, Question 10. There is no flexibility in their operations as any change or modification requires the approval of thp Government. In the corporate bylaws or operating agreement for an LLC, you will outline specific regulations and rules of the business. The Board and its executives are free from political influence and . Which of the following is controlled and managed as per the provisions of the statute under which it has been formed? Government company enjoy more public confidence as they have government backing and support. The organisation which is owned, managed, controlled and financed by government. Departmental Organisation is financed through appropriations made by the legislature. In government company minimum __________ % paid-up capital is held by the government. This is termed as bureaucracy style or military style of organisation. Question 1. (ii) Autonomy on Paper Only : Ministers, government officials and political parties often interfere with the working and decision making policies which affects the autonomy and flexibility of it. Answer: Question 5. Question 1. 3. Question 3. (a) Life Insurance Corporation Limited (b) Railways Features of Multinational Corporation. It enjoys financial autonomy and is answerable to legislature only which creates it. What is the meaning of statutory corporation? Development of Public Utilities : The departmental organisation provides public utilities or basic r necessities. (x) Flexibility : The objects, powers and organisational set up of a Government Company can be altered easily. (a) 15. It can be easily formed as per the provision of Companies Act. Answerable to legislature: A statutory corporation is answerable either to Parliament Legislature or State Assembly whosoever creates it. Question 5. Thus, essential services are made available by the Government department at a very reasonable rate. Though not profit oriented like private sector, it does make reasonable profit which is used for public welfare, modernisation, renovation and development. In asking whether the state is a corporation, it is necessary to find an alternative to spatial analogies. MNCs do not have government backing and support in host countries. Features of Statutory Corporation: the features of statutory corporation are. It is managed by Board of Director who are appointed by the government. (b) 8. Features. Question 8. Departmental Organisation, Question 11. Question 5. Answer: Direct Revenue to Government : The revenue of departmental organizations directly goes to the jr Government treasury. Qualified Staff : Departmental organizations are properly managed and supervised by the qualified government staff. A multinational corporation is a business organisation that operates in many different countries at the same time. (ix) Suitability : Government Companies are suitable for conducting manufacturing and marketing activities. (a) economical Its dependence on Government authority is minimum. They are also fully equipped and have necessary infrastructure. They were charging high prices from the consumers to cover up their inefficiencies. Answer: A Statutory corporation is established under a special Act of the Parliament or state legislature. 1. are also decided by the act of the legislature. has following advantages which other business organizations may not have. Example : Bata India, Infosys, Tata Motors, etc. Answer: Concept: Statutory Corporation Is there an error in this question or solution? Answer: Earlier, most of the development was limited to few areas like port towns. Capital for statutory company comes from Central or State Government. The powers, duties, functions and scope of operations are laid down in the Act. Capital is contributed by owner from their own resources and borrowings from financial institutions. They can take quick decisions. It receives highest government concessions and privileges. Answer: Meaning: - A Statutory corporation is also called as public corporation. (a) economical, Question 1. Give any three Features of this organisation. Find a Lawyer; Ask a Lawyer ; Research the Law; Law Schools; Laws & Regs; . Though it has autonomy in financial matters, it is indirectly accountable to the publics. It is formed through registration under Companies Act, 2013. Companies, Question 5. Answer: Question 6. (a) natural (b) 12. This enables it to develop its business potential in developing and under developing nations where they can earn handsome profits. Answer: Answer: As a result, employer- employee relations are very cordial and staff is highly motivated to perform better. It can enter into contracts and acquire property in its own name. Statutory Corporation is a body with a separate existence, which can sue and be sued and is responsible for its own finance. MNC operates in several countries, having headquarters in one country. Question 4. Features of Statutory Corporation. Any changes in the constitution, objects, powers, duties, etc., require amendments to be passed in the parliament which is difficult task. (a) Parliament A statutory corporation is formed under a Special Act of Parliament or State Legislature. Schedule C Generally left to private sector. Statutory or Public Corporation. These organizations are usually insensitive to consumer needs and do not provide goods and adequate service to them. (vi) Lack of Flexibility : The Departmental organization lacks flexibility in decision making. Give an example of this type of company. The research and development is undertaken for finding out new product, new system, and new technology of doing business in an economical way. In terms of assets and turnover, many MNCs are bigger than national economies of several countries. Answer: (a) Departmental Undertaking (6) Government Company What is Government Company? The powers, duties, functions, and scope of operations are laid down in the Act. MNCs are powerful .. entities. Answer: What is Statutory Corporation? It is a corporate body. Answer: (vi) Improvement of Standard of Living : Multinational Corporations supply their product at very reasonable prices in the global market. Indian Post, Indian Railway, Bank of India, Air India. These include the following: (a) The Indian Post and Telegraph Department Below listed, you can find solutions for Chapter 5 of Maharashtra State Board Balbharati for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board. Give reasons for your answer. There is no competition among them. In government company minimum . and as such will have to obey the laws of the host countries. Employees can be recruited independently. Using Balbharati Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board solutions Forms of Business Organisation - 2 exercise by students is an easy way to prepare for the exams, as they involve solutions The Government Company may be registered as public or private limited companies. (B) Merits of Multinational Corporation: Government Company and Multinational Corporation. See FindLaw's Incorporation and Legal Structures section for additional articles and resources. Answer: Public sector organisations are owned by government. For providing employment to the people and for accelerating the economic development of backward areas many industries were set up by public sector in those areas. "Life Insurance Corporation of India" is the example of a Statutory Corporation. Explain the merits and demerits of multinational corporations. Cautious approach towards foreign capital. The organisation which performs its all activities as an integral part for government only. (vii) Take away Profits to Home Country : Profits made by multinational corporations are not used in the same country from where they are earned. The officials are not bothered about consumer needs and consumer satisfaction as they are more worried about their security of service in view of monopolistic position. Question 7. A statutory corporation is a corporation created by statute. (i) Professional Management: Statutory Corporations are managed professionally. Question 3. Justify your answer. State any two demerits of Multinational Corporation. As MNC is operating on a global basis, they have huge physical and financial assets. Departmental undertaking is fully owned by the Government. (c) employees (a) Branches (b) Subsidiaries It is funded through annual budget of the government. MNCs are in a position to exercise massive control on an economy. Substantiate. . It is formed and registered under Companies Act, 2013. In most states, the corporate bylaws don't have to . E.g. (b) 2. (a) Departmental Undertaking (b) Government Company Public Accountability : The concerned minister incharge of the government organisation is answerable to the Parliament or Assembly. Process (a) Summons -- Issuance. Departmental Organisation and Government Company. who are nominated by the government. Answer: Example: Hero Cycle of India and Honda Motors Co. of Japan jointly established Hero Honda. (xii) Accountability : The enterprise is funded by the government and hence the government controls its affairs. They can afford to bear losses for a long while in the hope of earning huge profits. Answer: are some of the examples of Government Companies. (iii) Promotion of International Brotherhood and Culture: MNCs integrate economies of various nations with the world economy and promote international brotherhood and culture with peace and prosperity in the world. Upon the filing of the complaint, the clerk shall forthwith issue a summons and deliver it for service. Departmental Organisation and Multinational Corporation. Statutory company can borrow from public by issue of shares and debentures. Explain. Government company uses resources of government and its employees are government employees and are permanent. The basic rationale of public sector has changed significantly. In the light of this statement explain any four initiatives taken by the government. True, Question 2. Question 1. Answer: It is a Departmental Organisation. (vii) Target Profit Oriented : Earning profit is the main motive of MNCs. (C) Demerits of Statutory Corporation: A statutory corporation is an autonomous corporate body created by a Special Act of Parliament or state legislature with defined functions, powers, duties, immunities etc. Private enterprises are owned managed, controlled and financed by individuals or groups of individuals. Industrially developed countries are also economically prosperous. A statutory corporation enjoys financial autonomy or independence. It can be acquired by purchasing 51% of the share capital of a private company. (a) annual budget, Question 2. II. (iii) Domination of Ministers and Politicians : The ministers of the concerned departments are in charge of the Government Company. Answer: (a) 49 per cent (b) 51 per cent Answer: Discuss the merits and demerits of Departmental Undertaking. State any four features of Statutory Corporation. Free PDF download of NCERT Solutions for Class 11 Business Studies Chapter 3 Private, Public and Global Enterprises solved by Expert Teachers as per NCERT (CBSE) Book guidelines. Public sector organizations may take form of departmental undertaking, statutory corporation and a government company. Find out type of this company. It is rigid in operations as its managed through officers of the government. The capital is contributed by the Central Government or State Government or even by general public and financial institutions. Question 1. State any four features of statutory corporation. A statutory corporation is answerable to or state assembly whosoever creates it. These advantages are as follows: Question 6. They render service in those areas where the opportunities for profit maximisation are more. Coca Cola, Tata Tea and so on have global presence. What is Private Sector? (xi) Area of Operation : MNCs operate in different countries of the world and deal in multiple products on a large scale. Departmental Organisation has no separate existence from government. 4.Easy to raise capital. This enterprise cannot borrow money from the public without Government consent. LIC, IFCI, SBI, UTI, Air India are the examples of public corporation. Upon request of the plaintiff, separate or additional summons shall issue against any defendants. Private Enterprises are more efficient due to profit maximisation, division of labour and specialisation. (xii) Lack of Autonomy : Departmental organisation lack autonomy and freedom in working and decision making. (c) social It is funded by the government initially and also in need of additional capital. After getting the prior permission from the Government, it can even borrow money within and outside the country. the price of wrist watches, cell phones, etc. (i) Delay in Action : In Departmental organisation there is always centralization of authorities. Hence, the area of operations is not large. To lower the price of goods they dump lower standard quality product which harms local soil, water and air. Give the meaning of Government Company. True, Question 3. Statutory Corporation is a natural person created by special Acts. MNC do not have any concessions. Statutory corporation, Question 4. (A) Meaning: (B) Features of Government Company: Statutory Corporations are autonomous bodies established under special legislative Acts. In departmental organisation there is flexibility in operations. 2. A statutory corporation is answerable either to parliament legislature or state assembly whosever creates it. (b) political Key employees satisfy two criteria: (a) their full aggregate compensation of all types from the organization (its subsidiaries, its affiliates, and disregarded groupsjoint ventures and corporations of which the nonprofit is sole member and must include in its 990 reports) exceeds . Answer: (d). Answer: Question 3. (b) legal, Question 8. controlled by either central government or state government. They have to deal with multiple currencies and exchange rates. It is large in size and operates on large scale. Answer: (ix) Repatriation of Profiles : Multinational Corporations get huge profit. They have ended local competition and achieved monopoly. (vi) Interference : Multinational Corporations are gigantic organizations with huge finance and efficient management. Railways, Post & Telegraph, Defence, etc. LIC, ONGC, Air India and others employ lakhs of people in the country. An organisation which is answerable to parliament or state assembly whosoever creates it. It is dependent on the Government. Global enterprises are giant both in size and operations. Substantiate this statement. It can only discuss policy issues and corporate performance as a whole. It is formed through Executive decision taken by the concerned ministry. (iii) MNC have existence in many countries. Statutory Corporation: Statutory Corporation is a corporate body with a separate legal existence, . (i) Danger for Domestic Industries : Multinational Corporations have vast economic power so they are danger to domestic industries which are still in process of development. NCERT Solutions Class 11 Business StudiesBusiness Studies Sample Papers, I. BIFR stands for: (vi) International Operations : Multinational Corporation play a significant role in world trade.
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a statutory corporation is answerable to
