Mr. Arun is appointed to AB Corporation. He was happy as it is an organisation which is formed by the government by passing a special Act in the parliament. He also came to know that his work and conduct in the organisation will be guided by the provisions given in the Act. WHen he started working in AB corporation he found that most of the work is done at organisational level without any interference from outside. But sometimes officials from the government and politicians visit the organisation. It is also observed by Mr. Arun wherever there is a huge amount involved in any business activity, the government representative must be consulted before taking any decision. This leads to delay in decisions always
Now answer the following on bases of above:
(i) Which Public Sector Enterprise is mentioned in this paragraph. Also quote the line from which you identified the name of Public Sector Enterprise
(ii) Give features of this Public Sector Enterprise mentioned in above paragraph.. Also quote the lines.
(iii) Give the merits of this Public Sector Enterprise mentioned in the above paragraph. Also quote the lines
(iv) Give demerits of this Public Sector Enterprise mentioned in the above paragraph. Also quote the lines.
Answers
Answer:
In the United States, a benefit corporation (or in several jurisdictions including Delaware, a public-benefit corporation or PBC) is a type of for-profit corporate entity, authorized by 35 U.S. states and the District of Columbia[1] that includes positive impact on society, workers, the community and the environment in addition to profit as its legally defined goals, in that the definition of "best interest of the corporation" is specified to include those impacts. Traditional C Corporation law does not specify the definition of "best interest of the corporation" which has led to profit motivations being used as the main driver for best interests.[2] Benefit corporations may not differ much from traditional C corporations.[3] A C corporation may change to a B corporation merely by stating in its approved corporate bylaws that it is a benefit corporation;[3] however in certain jurisdictions (especially Delaware), the terms "public benefit corporation" or "PBC" are also required to be in the legal name of B corporations.
A business may choose to file as a benefit corporation instead of a traditional C corporation for many reasons; for example, a 2013 study done by MBA students at the University of Maryland showed that one main reason businesses in Maryland had chosen to file as benefit corporations was for community recognition of their values.[4] A benefit corporation's directors and officers operate the business with the same authority and behavior as in a traditional corporation, but are required to consider the impact of their decisions not