The process of converting a non-profit making organisation to a profit-making business is ________?

Assessment: JAMB UTME - Commerce - 2020 Subject: Commerce

Question 1 Report

The process of converting a non-profit making organisation to a profit-making business is ________?
Answer Details
The process of converting a non-profit making organization to a profit-making business is called commercialization. Commercialization refers to the process of taking a product, service, technology, or idea and making it ready for the marketplace. This involves developing a business model, determining pricing, and creating a marketing strategy to reach customers. In the case of a non-profit organization, commercialization means changing its focus from serving a social cause to generating profits for its owners or shareholders. This can involve selling products or services, investing in profitable ventures, or making other changes to its operations to increase revenue and reduce costs.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning