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Charities And Capitalism Essay

1124 words - 5 pages

In today’s world, non-profit organizations can no longer rest on the idea or premise that the work they do is rewarding, or personally fulfilling. While the work that non-profits do is greatly needed, and at times greatly appreciated, it is greatly underfunded as well. In Philip Harvey and James Snyder’s article as well as Bill Gates article all authors clearly outline that in order for non-profit companies to be successful; they have to begin to re-align their organization’s goals, objectives with their financial statements. The question becomes how does a non- profit realign their goals, objectives and financial statements in such a way that they are still able to do their good work, but ...view middle of the document...

Why should great companies build concern for the less fortunate local communities, and the world into their cultures? First, being socially responsible will attract and retain employees, it also makes business sense. Sharing profits with the community attracts customers and gives the company a reputation as a good neighbor. It adds to the bottom line by increasing exposure to new customers and making existing customers proud of their choice. People want to feel good about the companies in which they invest. Consumers are also very much aware of which companies make an effort to be environmentally responsible.
While for profit businesses attempt to have a direct impact on their communities’ sustainability, the overall goal should always be to sustain the organization first and to maximize the wealth of shareholders second. After all, the shareholders cannot be made wealthy if the organization is not performing well and making a profitable margin. Attentive regard to shareholder wealth will always be necessary and appropriate in the business world. After the primary goals are met, community contribution should follow. Community involvement should rank high in the list of goals and strategic targets to meet because without the community, the organization could crumble. Businesses have to realize the potential that community contribution and involvement or the lack thereof has not only their bottom line but also on their reputation and the reputation of their shareholders.
Charitable organizations have to set their goals differently than not for profits do traditionally. In order for charitable organizations to survive they must think and plan as if they are for profit organizations. Considering that not-for-profit organizations depend on funding from outside resources and government agencies, their primary goals have to strategically align with business practices before they can reach their stretch goals for the cause that gave birth to their mission. What many charitable organizations have failed to do is to develop a team of individuals with a business sense to systematize the organization while the mission driven individuals can meet the goals of cause at hand. The two teams have to collectively work towards sustaining the organization through their interdependence and creating a relevant bottom line.
Each concept outlined by each article supports that schools, charities and businesses can be helped by reframing how they approach their work, and how they approach the financial...

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