Key to your ongoing long term sustainability for both for-profit and non-profit organizations is your leadership team and how well it executes your strategic plan /business model.
Key to that most effective leadership CEO or Executive Director is the Board of Directors, one of whose primary goals is to work with, evaluate and motivate, and be responsible for succession planning of both that leader and their key leadership team.
That leader and their team are responsible to create, update and execute the strategic plan, related budget and governance under the business model which your Board of Directors approve.
The common theme is the bedrock nature of your Board of Directors and its effectiveness for your unique situation.
Three key points to this article follow:
1. Boards will see the critical need to provide more extensive training for existing directors, This should improve your organization’s critical ability to spotlight potential million-dollar blind-spot opportunities and risks, IN TIME, before they find you.
2. Organizations will outsource more support. For example, small- and medium-sized organizations need access to skilled expertise in areas like cyber, digital and independent ERM (enterprise risk management).
3. There will be greater turnover at the director level.
This below the surface change is here. How prepared are you for it, on a scale from 1 to ten, where 1 is not very and 10 is well aware? If less than a 10, where would you like to be?
NPW generously shared my article in their 2017 first quarter publication.
NONPROFIT WORLD website describes their purpose as:
“Society for Nonprofits is a leading resource for nonprofit professionals and has been helping nonprofit leaders increase their knowledge and grow the capacity of their organizations for more than 30 years.’
Also consider what I call “Fiscal Quiz” – a two minute or less reflection. You can get your copy for free by going to https://fiscaldoctor.com/fiscal-quiz/