: We hear a lot about for-profit companies, such as Apple Computer or Wal-Mart, and the successful strategies they have developed. Even though nonprofit organizations are not concerned with profit maximization, they too can benefit from following a strategy.
A nonprofit's strategy constitutes its decisions about what it will do and how it will do it. Managers are critical to successfully implementing strategy since they are responsible for carrying out the actions that will support it. By understanding a nonprofit's strategy and how it helps the organization fulfill its mission, a manager can do a better job implementing the strategy.
: This course has a "Mentor Expert" helpdesk feature. Learners have the ability to submit questions directly to an expert in the field you are studying.
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Lesson 1
After completing this course, you should be able to:
Define strategy
Explain the basics of strategy in a nonprofit context
Describe the strategic planning process and how different approaches may be taken by different organizations
Discuss how mission statements are constructed
Explain how budgets and capital budgets interrelate with nonprofit strategic planning
Describe the success factors for strategic planning
Recognize the need for contingency planning
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