Question

There is professional management in statutory corporation justify

Answer 1

Answer:

Board of directors of statutory corporation consists of business experts & the representatives of various groups such as labor, consumers nominated by the government.

Answer 2

Explanation:

1) A Statutory corporation is an autonomous corporate body created by the special act of the parliament or state legislature with defined powers, functions and duties. State helps statutory corporation by subscribing to its capital.

2) Statutory corporation is an independent legal entity. It is managed by the board of directors constituted by the government.

3) Board of directors of Statutory corporation consists of business experts and the representative of various groups such as labour, consumers etc. who are nominated by the government.

4) The Statutory corporation is relatively free from red tapism. There is less file work and less formality to be completed before taking decisions.

Thus, there is professional management in Statutory corporation.

According to marking pattern this length of answer is sufficient to score full marks in justify.