Question

Petite Palate is a gourmet baby food company founded in 2006 and was growing until the fall of 2008 when investors in the company pulled out because they were concerned about the weakening economy. The owners of the company had to then find a bank to lend them money to continue manufacturing and selling their products. Based on the information provided about the company, what type of organization was Petite Palate?

Answer 1

Petite Palate was for-profit type of organisation

Step-by-step explanation:

A corporation or other agency whose main objective is the profit-making of money as opposed to a non-profit organizations that aim to help the society and are only interested in money to sustain the organisation.

Most corporations are deemed to be profit organisations, from retail shops to restaurants to insurance undertakings to immobilising firms.

The vast majority of companies globally are profit-oriented. You're all for profits your local corner shop, restaurant, and supermarket. We also call a profit-making organization a profit-making company.