Nonprofit Companies And Non-For-Profit Companies

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No one can predict the future but here are many tools in place to help organizations to try and gauge how they need to strategize for short and the long-term based on historical conditions of its success. Forecasting is done with statistical analysis of the company, industry analysis, and being aware of internal and external functions (Lowe & Shaw, 1970). In a downturn in the economy, non-for-profit organizations depend on donations, and when there is less expendable money by consumers, this will affect the non-for-profit companies. A for-profit can be diverse and have other ways of making money to help supplement their key business. The strategic management process can be revisited and determine what internal and external factors

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