There’s a big hidden cost that nonprofits often ignore: the opportunity cost of decisions. Failure to consider this can result in poor decisions and/or allocation of resources. Fortunately, there are clear methods to incorporate opportunity cost into strategic decision-making and planning.
Many nonprofits struggle to break even, or face strict capacity limitations. The root of these problems is usually the soundness and health of the organization's business model. The business model is a key to ensuring high performance in achieving mission and financial goals. Public Interest Management Group has released a new white paper that demystifies the business model and its key role in organizational strategy.
Trump's election has wide-ranging implications for nonprofit organizations, particularly in the areas of health, the environment and social justice. Further, potential impact of economic policies may impact nearly all nonprofits. This post discusses the impacts, and offers tangible steps nonprofit leaders can take to adapt and respond.