Summary: A Non-Profit's Guide To Success
A Non-Profit’s Guide to Success
Many non-profit organizations are struggling to survive in the world’s ever changing economic and social culture. Financial climate change is forcing non-profits to look at the way they do business, and in many cases reach out to for-profit organizations for guidance or even partnership. Doing more with less is the standard, but many non-profits must do something with nothing. Private funding is drying up and competition is extremely fierce for every government dollar. I believe that non-profit organizations can remain true to their mission and operate successfully in today’s market by adopting some of the financial practices used by for-profit companies. Non-profits …show more content…
From the founding mission statement to the process of liquidation after going out of business, the two types of establishments rarely follow the same practices. Neither is immune to financial disasters, however. Depressions in the global economy have huge impact on the futures of non-profit as well as for-profit organizations. It is becoming increasingly important for non-profits to change their financial management, and adopt some of the accounting methods and strategic thinking used by for-profits. Many non-profits are working to develop alternative income streams to help stay …show more content…
1999) This is true of both non-profit and for-profit entities. Many businesses approach this by emphasizing quality over quantity. For-profits are known for having rigorous training programs and conventions to make their personnel stand out among others in the same field. Non-profits face the same challenges. One company, the Sunshine Consulting Call Center, has a soft HR approach that aims at recruiting, motivating and retaining volunteers. Recruitment emphasizes their emotional intelligence rather than intellectual intelligence. Performance management system integrates formal and informal evaluation, such as the appraisal from peers and the phone monitor. Training and development aim not only to improve volunteers’ consulting skills, but also enhance their personal growth. (Chen and Wang 2013) This strategy allows them to offer a quality service that cannot be easily replicated. It’s hard for non-profits to be too picky about employees, since they are mostly volunteers, but I think there is a huge benefit to using some resources for recruiting and training like for-profit companies
Many non-profit organizations are struggling to survive in the world’s ever changing economic and social culture. Financial climate change is forcing non-profits to look at the way they do business, and in many cases reach out to for-profit organizations for guidance or even partnership. Doing more with less is the standard, but many non-profits must do something with nothing. Private funding is drying up and competition is extremely fierce for every government dollar. I believe that non-profit organizations can remain true to their mission and operate successfully in today’s market by adopting some of the financial practices used by for-profit companies. Non-profits …show more content…
From the founding mission statement to the process of liquidation after going out of business, the two types of establishments rarely follow the same practices. Neither is immune to financial disasters, however. Depressions in the global economy have huge impact on the futures of non-profit as well as for-profit organizations. It is becoming increasingly important for non-profits to change their financial management, and adopt some of the accounting methods and strategic thinking used by for-profits. Many non-profits are working to develop alternative income streams to help stay …show more content…
1999) This is true of both non-profit and for-profit entities. Many businesses approach this by emphasizing quality over quantity. For-profits are known for having rigorous training programs and conventions to make their personnel stand out among others in the same field. Non-profits face the same challenges. One company, the Sunshine Consulting Call Center, has a soft HR approach that aims at recruiting, motivating and retaining volunteers. Recruitment emphasizes their emotional intelligence rather than intellectual intelligence. Performance management system integrates formal and informal evaluation, such as the appraisal from peers and the phone monitor. Training and development aim not only to improve volunteers’ consulting skills, but also enhance their personal growth. (Chen and Wang 2013) This strategy allows them to offer a quality service that cannot be easily replicated. It’s hard for non-profits to be too picky about employees, since they are mostly volunteers, but I think there is a huge benefit to using some resources for recruiting and training like for-profit companies