Responses

Assa Discussion:

Hello everyone , my name is Assa ,i currently live in New Jersey and am working toward my master's degree in healthcare administration . I have a bachelor degree in healthcare administration as well and currently work as a certified nursing assistant in a nursing home. I am furthering my education in hopes of advancing further in my career.By taking this course ,i plan to familiarize myself better on how non-profit and for-profit hospitals operate.

To succeed as a business leader ,one must have flexibility,intelligence,and endurance.It is the same with businesses that are not for profit.In order to advance my abilities and position myself to be successful in this course ,i am looking to gaining additional knowledge about this section and the ways in which it is distinct from the sector that operates for profit.

There are indeed certain similarities between for-profit and non-profit organizations, which includes : 

Money is needed to operate both retail and wholesale operations successfully .Not charitable or philanthropic businesses are motivated by profit but by furthering their mission and goals (Taylor et al., 2023).

To accomplish their objectives ,both types of companies are responsible for cultivating and sustaining positive relationships with the various parties who have stake in their success, including customers,employees,and suppliers (Edmans,2021).

Two differences between for -profit and non-profit businesses: 

Non -profit businesses have a tax -exempt status,which means they are exempt from paying federal and state taxes,while for-profit businesses are not (Zare et al ., 2022).

The revenue that is created through the sale of goods and services to consumers is the primary source of income for not-for-profit businesses,as opposed to for-profit enterprises,which rely primarily on donations and grants from private individuals,businesses,and public agencies to fund their operations (Samsuddin et al., 2023).

References

Edmans,A. (2021). Grow the pie : How great companies deliver both purpose and profit (updated and revised).  Cambridge University Press

Taylor ,K M., & Rosca, E. (2023). Sink,swim,or drift: How social enterprises use supply chain social capital to balance tensions between impact and viability. Journal of Healthcare Management 68 (2): 83.

Sumsuddin, M. E., Salleh, M. F. M., Osman, L.H., & Yusoff, W. S. (2023, April). Funding sources and organizational sustainability-A conceptual framework for social enterprises. In AIP Conference Proceedings (Vol. 2544, No.1). AIP Publishing. 

Zare, H., Eisenberg , M. D., & Anderson, G. (2022). Comparing value of community benefit and tax-Exemption in non-profit hospitals. health services research ,57(2), 270-284.

Dara Discussion:

Greetings classmates and professor! My name is Dara Ferschke. I obtained my BSW in 2014 and have been employed as a social worker in long-term care for 10 years. I am pursuing my MS in Healthcare Administration with the goal to become a Licensed Nursing Home Administrator. I find it meaningful to live and work right in my hometown. I reside in RI with my husband and our 2-year-old daughter. In my spare time I enjoy spending time outdoors, particularly golfing, hiking, being out on the water paddleboarding, or spending time at our beautiful RI beaches. 

I am excited to be part of this learning experience with you all and I am eager to delve into learning more about the nonprofit sector. In this week's reading something that stood out to me about the difference between for-profit and non-profit sectors is that non-profit organizations measure their success by a double bottom line. Not only do nonprofit organizations measure their success by quantitative profits, like their for-profit counterparts do, they also measure their success by the degree to which they achieve their social mission. (Worth, 2021) As a social worker, I recognize the importance of prioritizing social change, improving social justice, and achieving better outcomes for all people. I feel that nonprofit organizations are crucial players in contributing to social change. This being said, it is important to remember that similar to for-profit businesses, nonprofits must continue to measure their success quantitatively. Without financial success, nonprofit organizations are unable to achieve their overarching social missions and goals. 

Another area in which nonprofit organizations are similar to those within the for-profit sector is that quality management and leadership is required. For any organization to survive and thrive, management must create an environment for employees to work towards the goals and success of the organization and to buy into the organization's mission, vision, and values. It is a common misconception that nonprofit organization leaders are less qualified and skilled than those within the for-profit business sector. Perhaps this is because not-for-profit leaders often earn much less than leaders in for-profit counterparts, especially those in large organizations. "Nonprofit managers are in general highly capable and dedicated individuals, worthy of the respect and regard of their counterparts in the other sectors of business and government. They work in organizations that are different from businesses or government, they have different purposes and goals, and they often work with fewer resources available to them, but they are not categorically less able or successful." (Worth, 2021, p 15) Management of nonprofits involves unique challenges including but certainly not limited to tight budgets, smaller workforces, less training, and the threat of reduced public support. However, given these challenges, leaders within nonprofit organizations reap the rewards of knowing they are working not only for the company's bottom line but also for the dual bottom line of contributing to an important social cause. 

Reference

Worth, 2021. Nonprofit Management. 6th Ed. Sage Publications.