ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
GLOBALIZATION AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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is not allowed to make a profit
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must use any profit it earns to further its social mission
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can use profit any way it sees fit
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uses profit for the financial gain of its operators
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Detailed explanation-1: -Nonprofits do not distribute profit to anything other than furthering the advancement of the organization. As such, you will be required to make your financial and operating information public so that donors can see how their contributions are being used.
Detailed explanation-2: -What is a nonprofit mission statement? A nonprofit mission statement is a one or two-sentence statement describing why your organization exists and what you do. Mission statements often get confused with vision statements. While these two are closely related, they serve different purposes.
Detailed explanation-3: -Nonprofit Goals to Elaborate on the Mission Goals of a nonprofit take the mission statement further to describe what the organization hopes to accomplish. These are higher level ideas talking about how to achieve the organization’s mission. Nonprofits can have numerous goals.
Detailed explanation-4: -As the Houston Chronicle’s James Green writes, “While the aim of for-profit organizations is to maximize profits and forward these profits to the company’s owners and shareholders, nonprofit organizations aim to provide society’s needs. Non-profit organizations have no owners.