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Question
Justify the following statement.
There is professional management in statutory corporation.
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Solution
- A statutory corporation is able to manage its affairs with independence and flexibility.
- Management of statutory corporation is done without any government interference.
- The statutory corporation is relatively free from red-tapism.
- There is less file work and less formality to be completed before taking decisions.
- The Board of directors of the statutory corporation consists of business experts and the representatives of various groups such as labour, consumers, etc. who are nominated by the government.
- Thus, there is professional management in a statutory corporation.
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