How was the exam?

[Tragoe44]

does anybody know the correct answer to the profit and non-profit organisations objectives differences question.??

i said one wants profit to provide a return to shareholders, the other does not aim to make a profit and if it does it is used to benefit the organisation.
then my second point was profit organisations aim to increase their amount of assets while non for profit simply wants to provide an ongoing service

out of 4 how many marks do you think i will get :S

Maybe 1-2 marks. possibly 3 if you explained each aspect thoroughly, (but highly unlikely)

sorry

[Michelle94]

does anybody know the correct answer to the profit and non-profit organisations objectives differences question.??

i said one wants profit to provide a return to shareholders, the other does not aim to make a profit and if it does it is used to benefit the organisation.
then my second point was profit organisations aim to increase their amount of assets while non for profit simply wants to provide an ongoing service

out of 4 how many marks do you think i will get :S

Maybe 1-2 marks. possibly 3 if you explained each aspect thoroughly, (but highly unlikely)

sorry

i was expected 1/4 so hopefully i can get 2.
but i i still dont understand the correct answer

[Michelle94]

for that question in relation to the "not-for-profit" companies I talked about the 2 branches = charities/foundations.

and stated that foundations aim to help raise awareness of certain issues, e.g a cancer foundation.

For charities I said that their objective is to raise funds/help people in need. For example supplying domestic appliances to underprivileged people.

did you explain how the differ from profit organisations?

[Tragoe44]

for that question in relation to the "not-for-profit" companies I talked about the 2 branches = charities/foundations.

and stated that foundations aim to help raise awareness of certain issues, e.g a cancer foundation.

For charities I said that their objective is to raise funds/help people in need. For example supplying domestic appliances to underprivileged people.

did you explain how the differ from profit organisations?

ofcourse

[Michelle94]

for that question in relation to the "not-for-profit" companies I talked about the 2 branches = charities/foundations.

and stated that foundations aim to help raise awareness of certain issues, e.g a cancer foundation.

For charities I said that their objective is to raise funds/help people in need. For example supplying domestic appliances to underprivileged people.

did you explain how the differ from profit organisations?

ofcourse

ok so what exactly were your two comparrisions between the objects of a for profit organisation and a not-for-profit.

[Tragoe44]

for that question in relation to the "not-for-profit" companies I talked about the 2 branches = charities/foundations.

and stated that foundations aim to help raise awareness of certain issues, e.g a cancer foundation.

For charities I said that their objective is to raise funds/help people in need. For example supplying domestic appliances to underprivileged people.

did you explain how the differ from profit organisations?

ofcourse

ok so what exactly were your two comparrisions between the objects of a for profit organisation and a not-for-profit.

the question didint ask for the comparison between the 2...

[Michelle94]

for that question in relation to the "not-for-profit" companies I talked about the 2 branches = charities/foundations.

and stated that foundations aim to help raise awareness of certain issues, e.g a cancer foundation.

For charities I said that their objective is to raise funds/help people in need. For example supplying domestic appliances to underprivileged people.

did you explain how the differ from profit organisations?

ofcourse

ok so what exactly were your two comparrisions between the objects of a for profit organisation and a not-for-profit.

the question didint ask for the comparison between the 2...

whaaatt?? im pretty sure it did.

[Tragoe44]

for that question in relation to the "not-for-profit" companies I talked about the 2 branches = charities/foundations.

and stated that foundations aim to help raise awareness of certain issues, e.g a cancer foundation.

For charities I said that their objective is to raise funds/help people in need. For example supplying domestic appliances to underprivileged people.

did you explain how the differ from profit organisations?

ofcourse

ok so what exactly were your two comparrisions between the objects of a for profit organisation and a not-for-profit.

the question didint ask for the comparison between the 2...

whaaatt?? im pretty sure it did.

it said to two explain 2 differences in objectives in relation to for-profit organisations, and not-for-profit organisations. it was a 4 mark question, comparisons in there would be difficult to do, and be more than 4 marks.

[Michelle94]

for that question in relation to the "not-for-profit" companies I talked about the 2 branches = charities/foundations.

and stated that foundations aim to help raise awareness of certain issues, e.g a cancer foundation.

For charities I said that their objective is to raise funds/help people in need. For example supplying domestic appliances to underprivileged people.

did you explain how the differ from profit organisations?

ofcourse

ok so what exactly were your two comparrisions between the objects of a for profit organisation and a not-for-profit.

the question didint ask for the comparison between the 2...

whaaatt?? im pretty sure it did.

it said to two explain 2 differences in objectives in relation to for-profit organisations, and not-for-profit organisations. it was a 4 mark question, comparisons in there would be difficult to do, and be more than 4 marks.

oh yeah it did say explain 2 differences in objectives. i just thought that kind of meant compare the two objectives

[Tragoe44]

for that question in relation to the "not-for-profit" companies I talked about the 2 branches = charities/foundations.

and stated that foundations aim to help raise awareness of certain issues, e.g a cancer foundation.

For charities I said that their objective is to raise funds/help people in need. For example supplying domestic appliances to underprivileged people.

did you explain how the differ from profit organisations?

ofcourse

ok so what exactly were your two comparrisions between the objects of a for profit organisation and a not-for-profit.

the question didint ask for the comparison between the 2...

whaaatt?? im pretty sure it did.

it said to two explain 2 differences in objectives in relation to for-profit organisations, and not-for-profit organisations. it was a 4 mark question, comparisons in there would be difficult to do, and be more than 4 marks.

oh yeah it did say explain 2 differences in objectives. i just thought that kind of meant compare the two objectives

well all the best my friend

[vinzoid]

The question was a 4 marker, asking for 2 difference in the OBJECTIVES of a profit and not-for-profit organisation. My answer went something like this:

One difference between the objective of a profit organisation such as Westpac and not for profit organisation such as The salvation army, is that westpac has a sole objective of making a profit, whereas the salvation army has the objective of providing a social benefit to the underprivileged. Another difference in their objectives is that Westpac aims to use its generated profit to expand the business and achieve specific financial objectives, whereas, the salvation army has the objective of using any profit it gains through donations to further their charitable cause.

What do you guys think? :S

[astone788]

The question was a 4 marker, asking for 2 difference in the OBJECTIVES of a profit and not-for-profit organisation. My answer went something like this:

One difference between the objective of a profit organisation such as Westpac and not for profit organisation such as The salvation army, is that westpac has a sole objective of making a profit, whereas the salvation army has the objective of providing a social benefit to the underprivileged. Another difference in their objectives is that Westpac aims to use its generated profit to expand the business and achieve specific financial objectives, whereas, the salvation army has the objective of using any profit it gains through donations to further their charitable cause.

What do you guys think? :S

definitly 2 marks for mentioning westpac has a sole objective of making a profit, whereas the salvation army has the objective of providing a social benefit to the community. But not sure about the 2nd part because you talk about how they use their funds. Remember the question wants you to talk about their objectives (planning). using funds is not so relevant because it's to do with organising.

I said that for profit organisations must take into consideration competitors when making decisions (to remain competitive in a global environment) WHEREAS not-for-profit don't take as much consideration into competitors when making decisions because their focus is to a delivery of a product/service.

[vinzoid]

The question was a 4 marker, asking for 2 difference in the OBJECTIVES of a profit and not-for-profit organisation. My answer went something like this:

One difference between the objective of a profit organisation such as Westpac and not for profit organisation such as The salvation army, is that westpac has a sole objective of making a profit, whereas the salvation army has the objective of providing a social benefit to the underprivileged. Another difference in their objectives is that Westpac aims to use its generated profit to expand the business and achieve specific financial objectives, whereas, the salvation army has the objective of using any profit it gains through donations to further their charitable cause.

What do you guys think? :S

definitly 2 marks for mentioning westpac has a sole objective of making a profit, whereas the salvation army has the objective of providing a social benefit to the community. But not sure about the 2nd part because you talk about how they use their funds. Remember the question wants you to talk about their objectives (planning). using funds is not so relevant because it's to do with organising.

I said that for profit organisations must take into consideration competitors when making decisions (to remain competitive in a global environment) WHEREAS not-for-profit don't take as much consideration into competitors when making decisions because their focus is to a delivery of a product/service.

Hmm yeah I see what you mean, but wouldn't the use of profit also be part of objectives? Objective by definition is a desired outcome or result the organisation wishes to achieve, isnt an expanded business base/ furthered charitable cause part of their greater strategic objectives? Hence they they would have an objective of USING profit to do that ^^

Yeah I can see the point you make with your answer, but how does that fit in with their objective though? Are you saying they need to consider competition when devising objectives?

[astone788]

The use of profit comes under Organising (coordinating resources to achieve objectives)

Using profit to invest in new technology, would be a strategy used to achieve objectives. It has nothing to do with developing objectives.

[Michelle94]

how do you think they will mark question 1d about employment cycle.
its worth 6 marks do you think, 3 marks for writing establishment, maintenance and termination
then 3 marks for explaining each part or??