[discussion_vu] Solution of Graded Discussion BOARD (GDB) NO.1 Principles of Management (MGT503)

Dear Students This is to inform that Graded Discussion Board has opened on 22 October, 2012 for discussion and last date of discussion is 23 October, 2012. (48 Hours) Discussion Question: Marks 10 Do the principles of management applicable in 'for-profit organizations ' differ from those applicable in 'not-for-profit organizations'? Discuss why or why not. Important Instructions: 1. Your discussion must be based on logical facts. 2. The GDB will remain open for 2 working days/ 48 hours. 3. Do not copy or exchange your answer with other students. 4. Obnoxious or ignoble answer should be strictly avoided. 5. Questions / queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of GDB is over. Note: For acquiring the relevant knowledge, do not rely only on handouts but watch the course video lectures and read additional material available online or in any other source. Important Instruction: Don't post your comments on lesson related MDB The answer of this GDB should not be more than 150 words.   Solution 1st of all understand the concept of profit organizations and nonprofit organizations When you start a business, it is for the financial benefit of its owners and/or shareholders. Profit is the goal and the business pays taxes on that profit. A nonprofit entity has a mission that benefits the "greater good" of the community, society, or the world. It does not pay taxes, but it also cannot use its funds for anything other than the mission for which it was formed.......click here for complete.... Visit Virtualians Social Network at: http://virtualians.pk/?xg_source=msg_mes_network   To control which emails you receive on Virtualians Social Network, click here