MANAGEMENT

Detailed explanation-1: -“A for-profit organization exists primarily to generate a profit, that is, to take in more money than it spends.” “The owners can decide to keep all the profit themselves, or they can spend some or all of it on the business itself.”

Detailed explanation-2: -What is a for-profit organization? A for-profit organization is one that operates with the goal of making money. Most businesses are for-profits that serve their customers by selling a product or service. The business owner earns an income from the profit and may also pay shareholders and investors from the profits.

Detailed explanation-3: -A for-profit corporation is an organization which aims to earn profit through its operations and is concerned with its own interests, unlike those of the public (non-profit corporation).

Detailed explanation-4: -For many companies, revenues are generated from the sales of products or services. For this reason, revenue is sometimes known as gross sales. Revenue can also be earned via other sources. Inventors or entertainers may receive revenue from licensing, patents, or royalties.

Detailed explanation-5: -Examples of for-profit organizations are airlines, construction companies, freight hauling companies, manufacturers, publishing companies, restaurants, retail stores, and shipping companies.