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Advantages and Disadvantages to Grant Funding for Public Sector Organizations Essay

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Updated: Jan 28th, 2022

Grant financing of organizations under state control such as non-profit hospitals can have several distinct advantages; therefore, investments in this sphere can be entirely justified and potentially profitable. For example, the implementation of such an initiative makes it possible to create clear requirements for initial applications and to generate and subsequently improve a method for estimating and watching for projects, both at the selection stage and at the end. For example, for medical workers, it is necessary to develop a particular program or methodology that can prove its effectiveness in practice. Thereby, a sponsoring organization will be able to protect itself against any potential risk and ill-considered money investment.

Besides, the candidates for funding should have strong incentives for careful analysis and formulation of the strategy since the outcome of the work directly depends on the possibility of extending the grant that already exists or obtaining a new one. If for example, employees of a non-commercial health care institution have developed an original and theoretically competent strategy with well-grounded arguments for its sustainability and needs, the chances of getting financial support from sponsors will be much higher. The plan which allows achieving high treatment outcomes or gaining access to new discoveries is valued more than the one that does not have sufficient justification.

Perhaps, the main disadvantage for those who are looking for grant financing is special requirements that are imposed on subsidies of this kind. Their use requires rigid reporting, and the target direction of funds, as a rule, has a set limit.

When taking into account the advantages and disadvantages, it can be noted with some confidence that grant investments provided to public hospitals, to some extent, stimulate the specialists working there and give an opportunity to regularly self-develop and work on new ideas.

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IvyPanda. (2022, January 28). Advantages and Disadvantages to Grant Funding for Public Sector Organizations. https://ivypanda.com/essays/advantages-and-disadvantages-to-grant-funding-for-public-sector-organizations/

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IvyPanda. (2022, January 28). Advantages and Disadvantages to Grant Funding for Public Sector Organizations. Retrieved from https://ivypanda.com/essays/advantages-and-disadvantages-to-grant-funding-for-public-sector-organizations/

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"Advantages and Disadvantages to Grant Funding for Public Sector Organizations." IvyPanda, 28 Jan. 2022, ivypanda.com/essays/advantages-and-disadvantages-to-grant-funding-for-public-sector-organizations/.

1. IvyPanda. "Advantages and Disadvantages to Grant Funding for Public Sector Organizations." January 28, 2022. https://ivypanda.com/essays/advantages-and-disadvantages-to-grant-funding-for-public-sector-organizations/.


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IvyPanda. "Advantages and Disadvantages to Grant Funding for Public Sector Organizations." January 28, 2022. https://ivypanda.com/essays/advantages-and-disadvantages-to-grant-funding-for-public-sector-organizations/.

References

IvyPanda. 2022. "Advantages and Disadvantages to Grant Funding for Public Sector Organizations." January 28, 2022. https://ivypanda.com/essays/advantages-and-disadvantages-to-grant-funding-for-public-sector-organizations/.

References

IvyPanda. (2022) 'Advantages and Disadvantages to Grant Funding for Public Sector Organizations'. 28 January.

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