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This is a 3 page paper that provides an overview of strategic planning for NPOs. Financial and governance considerations are examined. Bibliography lists 5 sources.
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3 pages (~225 words per page)
File: KW60_KFnporg5.doc
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higher value than ever before on sustaining a competitive advantage within relevant markets. This is true not only for businesses, however, but also for non-profit organizations which also must compete
for funding from investors, grants, and justify strategic approaches to stakeholders just the same as any for-profit business. As such, strategic planning is crucial to enabling non profit organizations (NPOs)
to develop and sustain a competitive advantage. This paragraph explores the value of strategic planning to NPOs. In general, NPOs are centered around some value-oriented social mission, and organizational success
is determine not in profits but rather performance achievements in the pursuit of this mission and overall impact upon society as a whole. Strategic planning can better enable NPOs to
achieve these ends, due to enabling leaders to "examine and make informed projections about environmental realities" such that organizations can develop a tighter conception of the mission and how it
relates to specific goals, as well as how to best pursue this mission-critical goals from the financial and process-oriented perspective (Mittenthal, 2011). In other words, NPOs have a need to
ensure that operations are both financially viable and efficiently managed, and strategic planning can achieve both of these outcomes. Suppose the hypothetical example of an NPO, The Schooley Foundation, dedicated
to providing grants and financial support to institutions devoted to housing abandoned children in the New Orleans region. To ensure an advantage for the Schooley Foundation, one would first look
at the financial viability of the NPOs operations and determine how to ensure that they remain viable in the long-term. Since the NPOs main operation is giving money away to
other institutions, it might seem odd at first to think of this in terms of cost-effectiveness, but studies have demonstrated that one of the main drivers of NPO success is
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