Not for profit organization: A non profit organization (NPO) is an organization that uses surplus revenues to achieve its goals rather than distributing them as profit or dividends. While not-for-profit organizations are permitted to generate surplus revenues‚ they must be retained by the organization for its self-preservation‚ expansion‚ or plans.[3] NPOs have controlling members or a board of directors. Many have paid staffs including management‚ while others employ unpaid volunteers and even
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Not-for-Profit According to Merriam-Webster.com‚ Not-for-Profit‚ also known as nonprofit is defined as‚ “not existing or done for the purpose of making a profit.” Whereas For-Profit is the opposite and is defined as “existing or done for the purpose of making a profit.” I am an ethnographic researcher for a popular organizational behavior research journal. In this article‚ we will be looking at 2 popular and major organizations‚ where one is Not-for-Profit and the other is For-Profit and identifying
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The non-profit organization (NPO) is itself the employer. The board of directors (the "Board")‚ usually elected by the general meeting of the members at an annual meeting‚ is responsible for overseeing the work of the organization and its employees. While decisions on the advice to hire staff or volunteers can delegate management team‚ board members are still responsible for the overall supervision of the organization‚ and can‚ in certain circumstances‚ are legally responsible decisions during his
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effective in carrying out their mission. The greatest potential benefit of nonprofit groups operating like businesses is operational efficiency and less dependency on public funding. As described in the case study‚ “Blurring the Line Between Profits and Nonprofits‚” when Michael Miller became President of Portland Goodwill in the mid-1980s‚ he adopted a corporate approach to running the charity that increased total sales tenfold (Johnson‚ 2007‚ p. xxiii). By adopting business best practices
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Rosado M00-14-4476 1. In what sense do maximization of sales and maximization of management welfare agree or disagree? 2. Negative economic profits is an indicator that the firm is making negative accounting profits. Explain why or why not. 3. Monopoly profit theory is an extension of frictional profit theory. Explain why or why not. Answers: 1. The maximization of management explain that managers maximize the salaries and fringe the benefits. The maximization of sales includes relationship between
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ECONOMICS MULTIPLE CHOICES 1. Business profit is: a. the residual of sales revenue minus the explicit accounting costs of doing business. b. a normal rate of return. c. economic profit. d. the return on stockholders’ equity. 2. To maximize value‚ management must: a. maximize short run revenue. b. minimize short run average profit. c. maximize long run profit. d. maximize short run profit. 3. Value maximization is broader than profit maximization because it considers: a. total revenues. b.
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skills‚ which uses property or talents‚ to produce goods or services‚ which can be sold to others for more than their costs. Or it may be considered as the system through which economic activity is organized and directed by those who seek to make a profit. Business includes lawful activity carried on continuously‚ which involves buying and selling‚ or manufacturing‚ or financing‚ or the rendering of a service for money. Business should be defined in three dimensions: 1. Who is being satisfied
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accomplish. In "Drive" it explained that when a pair of TOMS Shoes sells to you or me‚ it gives a free pair to a child in a developing country. TOMS explains they were "a for-profit company with giving at its core." (134) TOMS goals were to make profit but also give out free shoes to a child in need. TOMS purpose is to use profit as a catalyst in improving a person’s well-being. In "Losing My Cool" a black woman yelled at Williams "You rich‚ white motherfuckers in your Murr-say-deez‚ go the fuck home
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refers to a form of activity conducted with an objective of earning profits for the benefit of those on whose behalf the activity is conducted." Knowing the importances of business‚ its ins and outs should be underscored. It includes exchange of goods and services‚ buyer and seller relationship‚ and most importantly profit which basically aims to satisfy human wants and needs. The research study entitled Profit Maximization deals with the classifications of business which include the primary
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maximize their profits through a combination of maximizing revenue and minimizing costs. The profit maximization objectives must be qualified by a time dimension. A firm that pursuing a short-term profit-maximizing objective may act very differently to one that seeks to maximize long term profit. This may be reflected in a differing emphasis on research and development‚ new product development and market development strategies. However‚ the ability of organization to pursue long-term profit-maximizing
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