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1. The value-maximisation objective developed for private sector firms is not an appropriate objective in the public sector of not-for-profit (NFP) organisations. These organisations pursue

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1. The value-maximisation objective developed for private sector firms is not an appropriate objective in the public sector of not-for-profit (NFP) organisations. These organisations pursue a different set of objectives because of the nature of the goods and services they supply and the manner in which they are funded. a. Explain the characteristics and organisational objectives of NFP organisations. Focus your answer by distinguishing them from for-profit enterprises and influence their decision making. Give several arguments based on your experience or knowledge of its occurrence with local examples. (5) b. Explain the relationship between concept of efficiency objective and cost-benefit analysis in not-for-profit (NFP) organisations

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