Question

Question three (Total mark: 5 marks, word limit: 500 words)

You will need to do some research – via the Internet and/or via articles and papers. Investigate the goals for three organizations, covering one private-sector organization, one in the public sector and one not-for-profit organization. Briefly compare and contrast the detail in their goals.

Answer 1

Ans: All the organisation's have objectives and missions. But depending on the type of organisation.

Public Sector organisation:

Public Sector organisation are established by statute or a similar vesting document passed by the govt. Or other law making bodies.They are established to achieve different objectives of the society.

E.g. SBI bank in India

Private Sector Organisation:

Private Sector Organisation are established to maximise profit. These organisations are free from political interference . Hence their main agenda to improve work culture.

E.g.- Volkswagen

Not-for-profit Organisation:

A non-profit organisation's strategic objectives focus on the services provided to its target market. These usually include identifying the needs of the relevant community and developing programs and projects geared at fulfilling those needs.

They are not required to show financial surplus, but they need to generate enough income to cover their cost and to build retained earnings for lean financial times.

E.g. -American Heart Association