Profit and Non-Profit Organisations — Chapter Summary
ICSE · Class 9 · Commercial Studies
Summary of Profit and Non-Profit Organisations for ICSE Class 9 Commercial Studies. Part of the ICSE Class 9 Commercial Studies syllabus.
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Overview
Profit seeking organisations and non-profit organisations are two major types of organisations in society. Profit seeking organisations work mainly to earn profit through the production, purchase, and sale of goods and services. Non-profit organisations work mainly to serve society and use any surpl
Key Concepts
These are organisations established and operated
These are organisations established and operated primarily with the motive of earning profits. They are basically business organisations engaged in re
The main aim of a profit
The main aim of a profit seeking organisation is to earn profit. Profit gives money for modernisation, expansion, and growth of the business.
These are organisations set up
These are organisations set up and run not to earn profits but to serve society. Any surplus is used again in the organisation to support its mission.
These organisations provide financial help
These organisations provide financial help for social causes. Charitable trusts such as Ratan Tata Trust provide scholarships for higher education to
These organisations support learning and human
These organisations support learning and human resource development. Central and State Governments have set up schools, colleges, universities, IITs,
Learning Objectives
- Define profit seeking organisations
- Explain the meaning of non-profit organisations
- Distinguish between profit and non-profit organisations
- Explain charitable organisations and other types of non-profit organisations
- Describe the organisation of non-profit organisations
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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