Fin Multiple Sectors

505 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
505
On SlideShare
0
From Embeds
0
Number of Embeds
12
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Fin Multiple Sectors

  1. 1. Financial Management in Multiple Sectors <ul><li>Public, Not-for-Profit, and Commercial Sport, Tourism and Leisure Service Organizations </li></ul><ul><li>Chapter 1 </li></ul>
  2. 2. Sectors <ul><li>Public </li></ul><ul><li>Private Not-for-Profit </li></ul><ul><li>Commercial </li></ul>
  3. 3. Comparison of the Sectors Area of Contrast Public Private Not-for-Profit Commercial Ownership Usually government Private organization Private corporation Legal Authority Enabling legislation Enabling legislation & designation of tax status Incorporation (state & federal government recognition, regulations & protection Mandate Serve social welfare and needs of citizens Serve specific social welfare needs or leisure interests of specific population Realize maximum return on investment - Profit
  4. 4. Comparison of the Sectors Area of Contrast Public Private Not-for-Profit Commercial Source of Funds Taxes, grants, donations, earned income Grants, membership, donations, fund-raising, earned income Investors, creditors, earned income Market Management Market limited to geographic/political area. Segmented based on need. Market defined by particular need Market composed of those who can pay Defined by merit Success Indicators Social change Social change, financial viability Profitability, growth, return on investment
  5. 5. Comparison of the Sectors Area of Contrast Public Private Not-for-Profit Commercial Opportunities Tax exemption, volunteers, bulk purchasing and discounts Tax exemption, volunteers, public concern Entrepreneurship, support for eliminating financially unsuccessful products Challenges Public accountability and scrutiny Changing political directions Relative uncertainty, reliance on gratuitous income and volunteers, limited qualified staff and leadership Developing and maintaining skills
  6. 6. Competition Benefits <ul><li>Increased choice for consumers </li></ul><ul><li>Greater attention to high-quality service </li></ul><ul><li>Greater ability to respond to increasing demand </li></ul><ul><li>Greater opportunity to focus on specific market segments </li></ul>
  7. 7. Cooperation Benefits <ul><li>Operation efficiency </li></ul><ul><li>Synergism </li></ul><ul><li>Coordinated approach to delivery </li></ul><ul><li>Conversion of competitive energy to service energy </li></ul>
  8. 8. end…

×