crown corporations Flashcards
(18 cards)
What are the two types of public sector organizations referred to as Crown Agencies?
Crown corporations and statutory agencies
Crown Agencies represent a traditional organizational form alongside government departments.
What are some alternative labels for Crown Corporations?
- Crown corporation
- Public enterprise
- Government enterprise
- Government corporation
- Public corporation
- State-owned enterprise
These labels emphasize the government ownership aspect of these entities.
What are the two defining characteristics of a Crown Corporation?
- Government owned and controlled
- Engaged in business activities
These characteristics distinguish Crown Corporations from other government entities.
What is the primary function of Crown Corporations?
To provide commercial services
They operate under a private sector model while also serving public policy objectives.
How does the Treasury Board Secretariat define Crown Corporations?
Government organizations that operate following a private sector model with a mixture of commercial and public policy objectives
This definition highlights the dual mandate of Crown Corporations.
What are the characteristics of Crown Corporations?
- Legal entities selling goods/services
- Hybrid with operational autonomy
- Serve public policy goals
- Commercial orientation
- May have legal/regulatory privileges
These characteristics illustrate the unique position of Crown Corporations in the public sector.
What are the four classifications of Crown Corporations by the federal government?
- Parent corporations
- Mixed Enterprises
- Joint Enterprises
- International Enterprises
These classifications reflect different operational structures and purposes.
What is one rationale for creating Crown Corporations?
- Nation building and community development
This rationale emphasizes the role of Crown Corporations in promoting economic growth.
What is corporate governance in the context of Crown Corporations?
The process and structure used to direct and manage the business and affairs of a Crown corporation
It aims to achieve the corporate mandate and ensure financial viability.
What role does the board of directors play in Crown Corporations?
Oversees the corporation and its management
The board is seen as better qualified to govern than the responsible Minister or senior department officials.
What are the four main areas where boards of directors exercise their judgment?
- Establishing strategic direction
- Safeguarding resources
- Monitoring corporate performance
- Reporting to government
These areas are crucial for effective governance.
What defines a regulatory agency?
An administrative entity intended to monitor and influence business activity in response to market failures
Regulatory agencies operate in the public interest under government policy.
What are the main functions of regulatory agencies?
- Adjudicative
- Legislative
- Research
- Advisory
- Administrative
These functions highlight the diverse roles of regulatory agencies.
What is one rationale for the existence of regulatory agencies?
To provide an impartial, judicial-like hearing
This rationale underscores the need for fairness in regulatory processes.
What is the broad definition of regulation?
Any governmental effort to control behavior by other entities
Regulation aims to modify economic behavior through constraints backed by authority.
What is economic regulation focused on?
Industry practices involving pricing, marketing, and competition
Economic regulation seeks to address market failures.
What are the four types of direct economic regulation?
- Control market entry
- Establish prices
- Limit competitive practices
- Improve and standardize practices
These types reflect various approaches to regulating economic behavior.
What are the four broad areas of social regulation?
- Health and safety regulations
- Environmental protection
- Information and fairness regulations
- Cultural regulations
Social regulations aim to serve social objectives.
