Question

Hi can you assist me with this. Can you explain each of the similarities and differences in maybe a short paragraph. Thank you so

3) Provide THREE ways in which Governmental entities are similar to For Profit Entities and
THREE ways in which they are different (30 pts )

Answer 1

three ways in which they are different:-

1. In government entities, the decision-making is based on the government and the officials of the organizations where overnment entities is practiced are mostly non-elected whereas in profit entities decision making is based on the interest of owners of the business.

2. Profit entities  is in those organizations, which aim to earn the profit for individual benefits from the customers in the market whereas government entities is in those organizations,which aim to help the society .

3. The stakeholders might not contribute financially to the government entities unlike the for profit entities where the shareholders have to contribute financially.

three ways in which they are similar:-

1. Both government entities and for profit entities have limited resources and the goals must be met with the limited funds.

2. Both government entities as well as for profit entities have goals and missions which are well defined. Their products or services are known by every one.

3. The government entities should satisfy the objectives and needs of their various stakeholders just like a profit entities knows their customers and serve them accordingly.