This chapter provides the competing perspectives into three distinct schools of thought where each school is based on unique values and motivations, and has different strengths and shortcomings. It discusses the three schools of thought, covering their origins, the key drivers that prompted their emergence, the key characteristics and practices associated with each school as well as the reasons behind the transitions from one school to another. The chapter highlights the transformational nature of the nonprofit landscape and the contrasting and contradictory perspectives that exist towards nonprofit functioning and the resulting debates. Illustrative practices include supervision and formation of ethical codes that continue to govern practice and prescribe service ideals. The Traditional School not only endorses these views, but also deems that focusing on anything other than the mission diminishes an organisation's ability to stay true to its purpose. The foremost characteristic of the Hybrid School is visible in 'dual-natured' practices that blur boundaries between nonprofit and for-profit work.