#43193-Writer Choice.docx - Running head NOT-FOR-PROFIT BUSINESS AND FOR-PROFIT ORGANIZATION Not-For-Profit Business and For-Profit Organization Name of

#43193-Writer Choice.docx - Running head NOT-FOR-PROFIT...

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Running head: NOT-FOR-PROFIT BUSINESS AND FOR-PROFIT ORGANIZATION 1 Not-For-Profit Business and For-Profit Organization Name of Student Institution affiliation
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NOT-FOR-PROFIT BUSINESS AND FOR-PROFIT ORGANIZATION 2 Not-For-Profit Business and For-Profit Organization Historically unlike like early 1960s, the sector of healthcare was majorly lead by not-for- profit business through foundations that hired and managed physicians. However, over time, for- profit-organizations flourished and thrived which incorporated some notable healthcare sectors such as pharmaceuticals. Today, those healthcare sectors are entirely and completely for-profit. As a result, there stands various differences between the two factions of healthcare organization, although the two serves similar purpose and same population. Some behaviors marry each other; however there some critical differences between them as well. Comprehending these differences and the theories between not-for-profit and for-profit organizations behind the behaviors they develop is an essential subject for every healthcare leader. The nonprofit stands out as an outlier within the sector of healthcare marketplace since it doesn’t follow the conventional market model in various respects. Therefore, this assignment shall discuss the differences demonstrated between the for-profit and not-for-profit types of organization based on the quality, service cost and price. The report shall focus on the discussing the type of service provider as well as the type of organization based on the price of service. Finally, the paper shall analyze the need for more organizational policies drumming for the non-profit models of organizations in the healthcare market. Differences between Non-Profit and For-Profit Organizations According to Goulet & Frank (2002), the main differences between the for-profit and non-profit organization in the healthcare sectors is based on the quality, service costs as well as price. The difference between nonprofit and for-profit organizations can be grounded on quality. Both nonprofit and for-profit organizations have differences in the mission which ultimately results into different organizational cultures. Based on the goal of economic gain, the
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NOT-FOR-PROFIT BUSINESS AND FOR-PROFIT ORGANIZATION 3 organizational culture of the for-profit organization primarily focuses on the business as well as finance metrics like Key Performance Indicators (KPI). Also, employees are motivated to have innovation that encourage the development of new products and markets. As a result, this innovation can assist in increasing short as well as long-term revenue for the company. Because
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