What is profit organization

Dear Student,
For-profit organization, also known as Business Organisation exists primarily to generate a profit, that is, to take in more money than it spends. The owners can decide to keep all the profit themselves, or they can spend some or all of it on the business itself. Or, they may decide to share some of it with employees through the use of various types of compensation plans, e.g., employee profit sharing.
Types of Business Organisations are -
Sole proprietorship
Partnership