Management

MANAGEMENT

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1. Not-for-profits is an important contributor of the economy. Apart from the social and civil contribution, not- for-profits contribute to economy growth. The not-for-profits enterprises produce similar products or service to their for-profits cousins. Therefore, they require similar inputs that they buy from local suppliers, they hire workers, hire accounting services, buy custodial services just to name but a few. All these activities contribute to economy growth.

2. First category is Incremental innovation. Incremental innovation modifies and improves an existing design. The innovation just improves the component. No radical changes to alter the component. The second is Radical innovation. Radical innovation focuses on altering existing design to come up with a totally new design. Third innovation category is modular innovation. It utilizes configuration of existing system but incorporates new components of different design ideas. Example is one can come up with a radio that does not need external power source, but it works like existing radios that require external power source. The last type is architectural innovation. It changes the system configuration, but design concepts, and components of the previous system remain unchanged.

3. Product R&D involves investing in improving existing products to be of better quality and coming up with new products. Example is phone manufacturing industry where companies have come up with a phone with larger memory and touch screens. Process R&D is where the firm come up with the production process that lowers the manufacturing costs of their existing products.

4. Both MVA and EVA measure a company’s value. However, these two methods utilize different formulas and generate varied results. MVA is calculated by calculating the current market value of the company and subtracting initial capital invested at the start of the business. On the other hand, EVA evaluates robustness...