Page 2 - spls 104 assesment task 1

SPLS 104 ASSESMENT TASK 1 SEAN ROGERS

On the other end of the spectrum for-profit organizations are
defined by the following aspects

• Profit driven
• Have owners
• Profit generated through sales
• Profit made is kept by owners or shareholders and employees
• Pay taxes
(nash, 2016)

For-profit organizations are solely focused on making an income and generating profit with said profit
being kept by owners or distributed amongst employees through incentives and bonuses. While most
business are profit driven some can also place emphasis on a specific cause through donations or
programs which create opportunities for development. This becomes more evident in a sporting context
where businesses exist to make a profit but capitalize on areas that allow for development and growth
in the sport. For example coaching clinic setups that charges fees in exchange for skills development or
academy systems of professional teams that identify and develop talent from an early age, this in turn
grows the game.

Most professional sporting teams or franchises act as for-profit organizations an example of this would
be Manchester united who compete in the English premier league. The club is owned by shareholders
with the infamous Glazer family being the majority owners, the majority of income is generated through
sales of likenesses, ticket sales and participation fees, profits are then redistributed to shareholders and
employees. (stone, 2020)