Ch 01-Managing Within the Dynamic Business Environment.Pdf

In general, the outsourcing is hiring the foreign workers/company to do a particular task, as opposed to hiring domestic workers/company. Besides the outsourcing, the international purchase is an essential activity of companies. In the trend of a booming global economy, a company only focuses on its core value and hire suppliers to supply the necessary product and service. The relationship between companies are complicated and interdependent.

Outsourcing is a method used by many corporations in which their products are manufactured in foreign countries often for cheaper labor.This method method of productions has it’s pros and cons.

Not for profit organisations consist of organisations that are not run for the profit or personal gain of individual/s. They are often referred to as charities and provide benefit services to society, often encouraging people to band together by sharing resources to achieve a common goal. Profits can be obtained by these organisations but must applied for the organisations purposes. These organisations include Surf life-saving, Churches, and Salvation Army etc. (Sessoms, 2014).

Non-profit organizations include, but are not limited to: Fraternal beneficiary societies, orders or Associations, cemetery corporations and corporations organized or trusts created for religious, charitable, scientific or educational purposes or for the prevention of cruelty to children or animals, home owner associations, business leagues or organizations not organized for profit but operated exclusively for the promotion of social welfare, as well as clubs organized and operated exclusively for pleasure, recreation and other non-profit purposes. The net profit of these organizations cannot benefit any private stockholder or member. An unwarranted salary, however, may cause a corporation or organization to lose its nonprofit status.

NPOs are entities almost the same as for-profit organizations save for two distinct features of NPOs (Nolan, 2013). First, it is prohibited to distribute its profits to the public. The second one is that NPOs do not have shareholders; therefore, no one owns the entity. What it includes are the trustees who merely administer the organization and oversee its operations.

The goal for non-profit organizations its to set up a demographic for the certain charity and to reach these demographics in a proper way in order to receive donations. The donors do not just donate to anyone. It is important for the organization to first have a good reputation and a good standing. There are many non-profit organizations that do not stay true

The root of many of the tensions that nonprofits face is conflict between business outcomes and social outcomes (Fong 2015). Nonprofits are formed to achieve missions, but require sufficient funds to operate and exist within a capitalistic society. The nonprofit sector is becoming increasingly competitive, forcing some nonprofits to professionalize and adopt strategies from the business world, like paid marketing campaigns, to attract donors and volunteers. This blurs the line between the public and private aspects of the sector, and has been a controversial trend that can attract both support and disapproval.

A nonprofit organization, as the name suggests, is an organization that is not in the business of making money. Usually founded around a common goal or mission, they are formed in response to a social problem, in the attempt to aid a distinct public interest. According to statistics, in 2016 there are 1.6 million nonprofit companies registered with the Internal Revenue Service (IRS) (www.nccs.urabn.org, 2016).

Over the past decade, many companies from North America have moved to foreign countries. This migration is known by many names – “runaway plants”, “outsourcing”, “global sourcing” and “offshoring” ("Outsourcing: What's the true impact? Counting jobs is only part of the answer."). According to Investopedia, outsourcing is “a practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than completing it internally” ("Outsourcing Definition | Investopedia"). Companies outsource primarily to cut cost. This mostly helps them to reduce their cost by 60 percent since labour in many Asian countries like China and India is very cheap. Even though offshoring is benefiting companies, it has negative

Initially, the purpose for offshoring was due to producers wanting to lower fixed costs and also seeking lower waged workers. By moving job duties abroad, producers were also able to avoid unionized workers (Gupta & Sao, 2009). In recent years, offshoring has also become popular in higher waged jobs such as software development. Outsourcing is very similar to offshoring, where a firm purchases inputs or services from another firm, but the firm is also located in the United States (Harrison & McMillan, 2006). A staffing agency is an example of outsourcing. A company is assigned by a client, and employees of the staffing company work directly with the employees of the client (Houseman, 2007).

Nonprofit organization/charities are ways people around the world can lend support to a specific group of individuals or a specific cause. To gain support, the leaders of these organizations must take several steps to achieve the help of the people.

Non-profit organizations do not belong to the commercial sector or the public sector, but occupy an intermediate position. It gives

The role of entrepreneurship in the economy of a country is to inspire new business ventures that support wealth

A not for profit organization is a corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive (Legal, 2013).” There are immense community benefits as a not-for-profit generally accepts everyone regardless of ability to pay. Nonprofit organizations are granted tax-exempt status which helps them to provide services to the public and are expected to be effective managers of their finances as well as being efficient (Financial Management, 2010). In doing so, they can gain exemptions from federal and state incomes taxes and have the ability to solicit tax-deductible contributions (Financial Management, 2010). Organization must follow legal financial

Business is loosely defined as buying and selling. However business is both an economic and social activity which is done to acquire wealth and serve the society through the provision of goods and services which the society needs.