Common Characteristics of Successful Nonprofit Organizations/Social Businesses
Commitment to Mission
- Impersonate business strategy around the main objective
- Employees must be committed and strongly support the cause
- Passion, Mission, Vision
Strong and Positive leadership
-Strength and positive attitude are two issues
- Strength encouragement instead of controlling/manipulating
- Positive leads the group in a positive manner
Financial Responsibility
- Responsible for financial gains and handle donated income with care - Make the money work efficiently and effectively
Community Connection
-Connecting with the surrounding community or the community at large
- Without community involvement organizations die
-Government or businesses support
Linking value to customer to Social value (providing double incentives)
- giving benefit to customer while promoting the social value
- Ex. SOS or charity events
Self Sustaining
- Continuous cash flow and return on investment
- Not rely solely on grants/investors
- Innovation and/or expansion
Combine entrepreneurial practices with social practices
-Rely on people who are committed and supportive of cause i.e. volunteers
-Incorporate the social value into the business models
More info: http://voices.yahoo.com/common-charateristics-successful-nonprofit-organizations-6367212.html
