Critically assess the key characteristics of a range of different organizations across the profit/not-for-profit/entrepreneurial/NGO/Government/Global business sectors.
There are two kinds of basic organization that is profit making and non-profit making. The profit making organizations are mainly the ones organizing the business with some primary goals. For-profit organizations or corporation solely aims to operate the business and earn revenue stressing on their objectives and favors, unlike that of public. These organizations are under private sector, and they generate their shares extending them to the general public. The public who purchase their shares becomes the shareholders and owns shared ownership. This kind of organizations has to pay taxes and register themselves with state authorities to operate their smooth flow of business (Balas
The not-for-profit organizations aim at service the society without expecting a profit in return for their service. The main characteristics of this kind of organizations include a strong board of trustees and efficient management of cash flow (Candler and Dumont, 2010). As these organizations do not raise profit from the service takers, to run the business, investments are required apart from the business trustees and thus, they aim at maximization of fund raising efforts. The performance of the organizations sets the management strategies that they will apply (Barnes, 2011).
Entrepreneurship is the urge of an individual or group who take up risks and develops a business body to organize and operate their functions and meet the business objectives. The continuous evolving global market base is the platform where entrepreneurship is exercised. The one who possesses the quality of being entrepreneurs are great motivators, creative, versatile, tolerant, and flexible and they have a good knowledge of the business.
NGO, short for non-governmental organizations are mainly the non-profit making private volunteering organizations. They are the service-oriented bases who work either for the benefit of the business members or other agencies (Candler and Dumont, 2010). These organizations focus on independent and democratic working pattern and management system. These organizations are not influenced by government's financial support (Barnes, 2011).
The governmental business sector is set for organizations that run under governmental power. The characteristics of this kind of organizations are that they are separate legal entities those who own the power to make contracts with delegated financial authority and operational functioning strategy to run the business. These types of organizations are primarily sales based infrastructures. The revenues that are met outside the government sources are collected by them. They focus on meeting the liabilities too (Balas