Question

What is size of the organization determines business objectives

Answer 1

Different types, size and scope of organisations:

Differences between for profit and not for profit and non-government organisations (NGOs)

Micro, small, medium-sized enterprises (SMEs). Different business purposes, objectives and supply of goods and services

The range of legal structures associated with different forms of business: sole traders, partnerships and private limited companies

Differences between for profit and not for profit and non-government organisations (NGOs)

Organisations can be described as groups or structures set up with the purpose of achieving certain goals or objectives. The modern business world features different types of organisations, each set up to serve a unique purpose and to meet the various needs of the societies within which they operate. The most common way of distinguishing between organisations is to look at their goals and purpose. Some organisations operate for generating profit, whilst others may operate to promote a social cause or to further the wellbeing of society. Based on this, it is possible to differentiate between for profit organisations, not for organisations and non-governmental organisations (NGOs).

For Profit Organisations

Any business, corporation or organisation that has been set up with the primary purpose of generating profits can be described as a for profit organisation. These organisations usually operate in the private sector, which means that they are owned by individuals or group entities and not by the state or government and are referred to as businesses. However, this does not mean that these organisations are not regulated by the state. They are subject to the legal and financial framework set out by relevant state authorities. The revenue generated by these organisations is usually reinvested into the business to ensure its sustenance and the remaining profits are distributed amongst the business investors and/or shareholders, depending upon the legal structure of the organisation. Their operations can be based in multiple sectors including fashion, technology, food and retail.