Organizational strategy is crucial to success, but only when it has the right balance of vision and details, and words can get in the way. Strategy is often confused with tactics, and that’s when things can go badly.
There are many myths regarding nonprofit finance, and some of them are harmful. Here I shoot down several prominent ones.
McDonald's Corporation is prototypical of a business that scaled-up effectively. Great operating systems are part of this story. But CEO Ray Kroc's story gives some valuable lessons beyond that. He started out on a path toward disaster because he failed to do basic business planning and financial analysis. He succeeded after he recalibrated his business model and stuck to it. This story offers important lessons for nonprofit management and strategic decision-making.
Scott Schaffer will be presentin a new workshop, Mastering the Essentials of the Nonprofit Business Model at this year's WHAT IF Conference on October 5.