1. Business Management Unit 1 Introducing Business
Features of Organisations

2. Fill in the blanks..
A _________ makes a __________ when the income earned (revenue) is greater than the costs of production (expenses).
A business makes a profit when the income earned (revenue) is greater than the costs of production (expenses).
A _________ is an organisation that provides goods and/or services to consumers in order to make a _________.
A business is an organisation that provides goods and/or services to consumers in order to make a profit.

3. A for Profit organisation
Main objective as profit therefore trade in finished goods or Services
Finished goods – Those ready for customers to buy
Complete the diagram to the right with examples of businesses

4. A Not-for-Profit organisation
Organisations operate to provide social, educational, religious or other benefits, rather than the sole pursuit or objective of earning a profit
Have a social drive rather than a profit drive
Some NFPs Organisations make profit but the income is used to expand the operations or to give to whatever cause they are associated with

5. A Profit Vs Not-for-Profit organisation
Task:
Using the table pg 6 Compare a profit to a non-profit organisation