Topics
Introduction of Commerce and Business
Trade
- Concept of Trade
- Internal Trade
- Wholesale Trade
- Retail Trade
- Types of Retailers> Itinerant Retailers
- Types of Retailers> Fixed Shop Retailer
- Small Scale Fixed Retailer
- Large Scale Fixed Retailers
- Departmental Stores
- Super Market Shop
- Chain Stores or Multiple Shops
- One Price Shop
- Concept of Mall
- International Trade
- Export Trade
- Procedure of Export Trade
- Import Trade
- Procedure of Import Trade
- Entrepot Trade
- Comparison of Different Types of Retailers and Trade Practices
Small Scale Industry and Business
Forms of Business Organisation - 1
- Private Sector Organisations
- Sole Trading Concern
- Partnership Firm
- Types of Partners
- Types of Partnerships Firms
- Hindu Undivided Family Business Or Joint Hindu Family Business
- Co-operative Society
- Types of Cooperative Societies
- Joint Stock Company
- Amul: A Successful Co-operative Movement in India
- Private Limited Company
- Public Limited Company
- Comparison of Different Forms of Business Organization
Forms of Business Organisation - 2
Institutes Supporting Business
Business Environment
- Concept of Business Environment
- Importance of Business Environment
- Dimensions of Business Environment
- Internal Factors
- External Factors> Natural Environment
- External Factors> Social Environment
- External Factors> Political Environment
- External Factors> Economic Environment
- External Factors> Technological Environment
- External Factors> Legal Environment
- New Economic Policy and Business
- Liberalisation
- Privatisation
- Globalisation
- Impact of New Economic Policy on Business
Introduction to Management
- Introduction
- Features
- Merits
- Demerits
- Real-Life Application
- Key Point Summary
Maharashtra State Board: Class 11
Introduction
A Statutory Corporation is a special type of organization created by a specific law passed by Parliament or a State Legislature. It manages its own activities, is primarily funded by the government, and works in the public interest.
For example, the Reserve Bank of India, LIC, etc.
Maharashtra State Board: Class 11
Features
Maharashtra State Board: Class 11
Merits
- Initiative and Flexibility: Operates independently with flexibility.
- Administrative Autonomy: Manages affairs with independence.
- Quick Decisions: Less bureaucracy, faster decision-making.
- Efficient Staff: Attracts skilled staff with competitive benefits.
- Professional Management: Managed by experts and government-nominated representatives.
- Easy to Raise Capital: Can raise capital easily through low-interest bonds.
Maharashtra State Board: Class 11
Demerits
- Autonomy on Paper: Political interference limits independence.
- Lack of Initiative: Since there is no competition, employees lack motivation.
- Rigid Structure: Changes require a long, complex process.
- Clashes Among Interests: Board conflicts can disrupt operations.
- Unfair Practices: High prices may cover inefficiency.
Maharashtra State Board: Class 11
Real-Life Application
Reserve Bank of India (RBI):
The RBI manages India's currency and sets rules for banks. It acts independently in everyday banking but must follow its founding law.
Maharashtra State Board: Class 11
Key point Summary
- Statutory Corporations are created by law to meet public needs.
- They have their management and funding, but report to the legislature.
- Strengths: Fast, expert management, flexible.
- Weaknesses: Government interference, rigid rules, and low efficiency incentives.
Test Yourself
Related QuestionsVIEW ALL [21]
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. | ||
