Retail Business Ownership Co-operatives_Charities_Non profit

Front

What is the primary purpose of a not-for-profit organisation?

Back

The primary purpose of a not-for-profit organisation is to use its income to support the organisation's aims rather than to earn profits for owners.

Front

Name two examples of not-for-profit organisations as discussed in class.

Back

Two examples of not-for-profit organisations include charity shops and voluntary organisations.

Front

How do charities aim to manage their resources to support their causes?

Back

Charities aim to minimise costs and organise activities to maximise donations to support their causes.

Front

Describe the role of volunteers within not-for-profit organisations and charities.

Back

Volunteers play an essential role in helping charities and not-for-profit organisations by providing their time and skills, allowing these organisations to reduce wage costs.

Front

What are the key principles that co-operatives operate under?

Back

Co-operatives operate under principles of democratic control, where each member has an equal say in decision-making and the profits are shared among them.

Front

Identify two advantages of being a member of a co-operative.

Back

Two advantages of being a member of a co-operative include feeling a real impact on the business's operations and receiving fair profit sharing.

Front

What is a dividend, and who receives it in a co-operative?

Back

A dividend is the share of profits distributed to members of a co-operative.

Front

List two challenges that co-operatives face according to the lesson.

Back

Two challenges that co-operatives face include slow decision-making processes and difficulties in making tough decisions that affect their co-workers.

Front

Explain how social enterprises differ from traditional businesses.

Back

Social enterprises differ from traditional businesses as they focus on benefiting society and addressing social issues rather than maximising profits.

Front

Why is community involvement crucial for not-for-profit organisations and co-operatives?

Back

Community involvement is crucial for not-for-profit organisations and co-operatives as it helps in better serving the local needs and ensuring alignment with community values and aspirations.