Chapter 1 Summary

Features of a For Profit and Not For Profit Organizations - - Some Organizations are Businesses which aim to make a financial profit. - Not for profit organizations may have divisions that make a profit, but profit is not the main objective of this type of business. - A not for profit organization redistributes it's profits back into the business to fund improvements.  - A stake holder is anyone affected by the operations of an organisation. 

Distinctions between Small, Medium and Large Businesses - - Qualitative and Quantitative Measures - The classification of a business will depend on such things such as the number of employees and market share as well as who makes the decisions and type of ownership. 

Objectives of Different Types of Organizations - - Financial, Social and Personal Objectives 

Contribution to Economy -  - Small Businesses provide employment, contribute to taxation revenue as well as boosting economic growth and export earnings

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