NUR 621 Describe the differences between for-profit and not-for-profit entities

Grand Canyon University NUR 621 Describe the differences between for-profit and not-for-profit entities-Step-By-Step Guide

This guide will demonstrate how to complete the Grand Canyon University NUR 621 Describe the differences between for-profit and not-for-profit entities assignment based on general principles of academic writing. Here, we will show you the A, B, Cs of completing an academic paper, irrespective of the instructions. After guiding you through what to do, the guide will leave one or two sample essays at the end to highlight the various sections discussed below.

How to Research and Prepare for NUR 621 Describe the differences between for-profit and not-for-profit entities                           

Whether one passes or fails an academic assignment such as the Grand Canyon University NUR 621 Describe the differences between for-profit and not-for-profit entities depends on the preparation done beforehand. The first thing to do once you receive an assignment is to quickly skim through the requirements. Once that is done, start going through the instructions one by one to clearly understand what the instructor wants. The most important thing here is to understand the required format—whether it is APA, MLA, Chicago, etc.

After understanding the requirements of the paper, the next phase is to gather relevant materials. The first place to start the research process is the weekly resources. Go through the resources provided in the instructions to determine which ones fit the assignment. After reviewing the provided resources, use the university library to search for additional resources. After gathering sufficient and necessary resources, you are now ready to start drafting your paper.

How to Write the Introduction for NUR 621 Describe the differences between for-profit and not-for-profit entities                         

The introduction for the Grand Canyon University NUR 621 Describe the differences between for-profit and not-for-profit entities is where you tell the instructor what your paper will encompass. In three to four statements, highlight the important points that will form the basis of your paper. Here, you can include statistics to show the importance of the topic you will be discussing. At the end of the introduction, write a clear purpose statement outlining what exactly will be contained in the paper. This statement will start with “The purpose of this paper…” and then proceed to outline the various sections of the instructions.

How to Write the Body for NUR 621 Describe the differences between for-profit and not-for-profit entities                         

After the introduction, move into the main part of the NUR 621 Describe the differences between for-profit and not-for-profit entities assignment, which is the body. Given that the paper you will be writing is not experimental, the way you organize the headings and subheadings of your paper is critically important. In some cases, you might have to use more subheadings to properly organize the assignment. The organization will depend on the rubric provided. Carefully examine the rubric, as it will contain all the detailed requirements of the assignment. Sometimes, the rubric will have information that the normal instructions lack.

Another important factor to consider at this point is how to do citations. In-text citations are fundamental as they support the arguments and points you make in the paper. At this point, the resources gathered at the beginning will come in handy. Integrating the ideas of the authors with your own will ensure that you produce a comprehensive paper. Also, follow the given citation format. In most cases, APA 7 is the preferred format for nursing assignments.

How to Write the Conclusion for NUR 621 Describe the differences between for-profit and not-for-profit entities                         

After completing the main sections, write the conclusion of your paper. The conclusion is a summary of the main points you made in your paper. However, you need to rewrite the points and not simply copy and paste them. By restating the points from each subheading, you will provide a nuanced overview of the assignment to the reader.

How to Format the References List for NUR 621 Describe the differences between for-profit and not-for-profit entities                           

The very last part of your paper involves listing the sources used in your paper. These sources should be listed in alphabetical order and double-spaced. Additionally, use a hanging indent for each source that appears in this list. Lastly, only the sources cited within the body of the paper should appear here.

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Sample Answer for NUR 621 Describe the differences between for-profit and not-for-profit entities

Re: Topic 8 DQ 1

According to an article published by the U.S. Chamber of Commerce, nonprofit and not-for-profit businesses have differing structures when it comes to governance, tax implications, and overall function Heaslip, 2020). A nonprofit organization is a business that qualifies for tax-exempt status from the IRS because their purpose and mission are to provide a benefit and social cause for the public. In order to qualify as a nonprofit organization, the business must serve the public in some way. In addition, a person who donates their money to a nonprofit organization is allowed to deduct their donation on their tax return. On the other hand, a non-for-profit organization is one that does not earn a profit for the organization’s owners. Instead, the money earned by the business or through donations goes right back into running the business. Unlike for-profit businesses, not-for-profit organizations do not have to benefit the public good and they can simply serve their members. The four key differences between the two types of businesses are as follows. Not-for-profits exist to fulfill the organization’s objectives, whereas non-profits are to explicitly benefit the public. Second, non-profits have a legal entity that is separate and non-for-profits do not. Third, Non-profits run their organization like a business to earn profit, and not-for-profits do not run with intent of earning revenue. Lastly, not-for-profits are run by volunteers, whereas non-profits may have employees who are paid. I do believe that the differences can affect an organization’s mission, vision, values, and goals because although the federal government requires all hospitals to administer stabilizing care to all patients who seek help, there is a key difference. For-profit hospitals have the ability to lawfully release patients if they lack the ability to pay for further treatment once they are out of danger. On the other hand, non-profit hospitals are obligated to treat all conditions, whether they are life threatening or not.

References

Are non-profit or for-profit hospitals better?. Healthcare Management Degree Guide. (2021). https://www.healthcare-management-degree.net/faq/are-non-profit-or-for-profit-hospitals-better/#:~:text=For%2Dprofit%20hospitals%20can%20lawfully,financial%20or%20health%20insurance%20status.

Heaslip, E. (2020). Nonprofit, not-for profit & for-profit organizations explained. U.S. Chamber of Commerce. https://www.uschamber.com/co/start/strategy/nonprofit-vs-not-for-profit-vs-for-profit

Sample Answer 2 for NUR 621 Describe the differences between for-profit and not-for-profit entities

Not for profit organizations utilize a different calculation progcess for their revenue, which is performance-based. These facilities do not have profit as a part of their mission. Therefore, other origins of income are present, like government research grants or donations made by outside individuals. These sources of revenue help to pay operating costs, and manage expenses. In a not-for-profit organization, balances become either unrestricted or restricted funds. Either way, these balances are reinvested back into the facility and use to fund projects or support the mission of the organization (Leger, 2021). More simply, a not-for-profit organization does not seek profit, and instead wants to positively impact the community it serves and “advocate from a specific standpoint” (norwich.edu, 2023, para 1). Leaders for a not-for-profit organization are usually comprised of a board of directors, and governance is shared among these individuals (norwich.edu, 2023).

For-profit facilities have stockholders who own the organization and benefit from positive balances. Money for the initiation of a for-profit facility is usually either borrowed from a bank, from investors, or earned directly through sales. Part of the mission is profit, therefore this is a motivating factor when it comes to decision-making. These organizations are requried to provide financial statements to external users. For-profit facilities must report revenue when earned, not when it is paid (Leger, 2021). Simply put, for-profit organizations want to generate profit, and provide products and services that are valuable to its customers. The leaders in a for-profit organization often receive bonuses or profit-sharing options when revenue is made, therefore these individuals have a stake in the financial success of the company (norwich.edu, 2023).

Overall, I feel that the differences in these types of oranizations impact their overall mission, vision, values and goals greatly. I have personally worked for both types of organizations. In my experience, the not-for-profit facilities invest more in their staff salaries, upgrading technology, and supporting their surrounding communities. Since the board of directors does not directly financially benefit from the success of the organization, this money is reinvested in improving the company itself. Additionally, I have been paid better by not-for-profit companies, and my benefits are better and more affordable.

Resource:

Leger, M. (2021). Financial management for nurse managers: Merging the heart of the dollar (5th ed.). Jones and Bartlett. ISBN-13: 9781284230932

7 Key differences between nonprofit and for-profit organizations. (2023). Norwich University. Retrieved November 24, 2023, from https://online.norwich.edu/7-key-differences-between-nonprofit-and-profit-organizations