Associate Professor

Competitor analysis is a serious part of the organization therefore; Target must identify and address all issues pertaining to the business. Target must pinpoint the tangible competitors, and substitutes, evaluate opponents’ objectives, strategies, strengths and weaknesses, and opportunities and threats, and uncover what opponents Target should take on or stand clear of. Therefore, Target must analyze the company’s economic, sociocultural, technological, political, and future.

At the center of any successful nonprofit organization there is an effective chief executive and board of directors. These leaders must work as a team with a vision and specific skills, to effectively produce resources in order to accomplish the organization's goals. The majority of the decision making authority and leadership is shared amongst board members; however, critical management skills and day-to-day operational decisions rest within the authority of the chief executive. However, members of the board must also be sufficiently skilled in management in order to assess the work of its director to assist in the implementation and evaluation of strategic decision making.

The CEO of a nonprofit must distinguish himself not only as a financial manager but as a financial leader also by improving the nonprofit practice (Young, 2007). The CEO is commonly expected to collect data, produce reports, analyze findings, as well as offer financial solutions for short and long term objectives along with other daily operational duties. However, a CEO distinguishes him or herself as a financial leader by developing a business model that meaningfully impacts organizational productivity, sustainability, and propel nonprofits futuristic vision while remaining integral to its mission (Bell, 2016). This is accomplished in several ways such as, vigorous budgeting, attaining a net financial outcome, exploring futuristic expectations, performing financial projection assessments, evaluating income diversification options, etc. and work well with the organizational board.

The organization who will be discussed in this paper is currently evolving from a grassroots phase to a growth phase. As this nonprofit prepares to embark on another strategic planning phase, the CEO and chair are aware that the role of the board is moving through its own phases of growth as well. The organization is no longer in its early stages of development, as such, leadership has self-reflected and is committed to amending the organization’s vision to take it to the next level. The CEO and chair are focused on providing the board the tools needed for appropriate management and effective governance as it moves through this stage in its lifecycle to the next. The leadership of this nonprofit is committed to maintaining a strong and constructive partnership which will assist in keeping everyone focused on the mission, foster the further definition of board members roles and responsibilities, introduce a performance evaluation of the board, honor legacy/founding members by instituting a legacy board, and provide additional resources and documents which strengthen the communication of the board’s fiduciary role.

One of the key contributors to this article, Mike Rukstad, said that there are three things that make up a great strategy: objective, scope, and advantage. Beginning with objective, what is your end goal, what are you trying to accomplish for you and your company? It’s easy to say that

Belle Meade faced problems because their organization was not innovative and did not plan for long term sustainability. Nonprofit organizations face problems with cuts in donations and charitable funding. The nonprofit organization is forced to find new ways to come up to strengthing the organization bottom line. The leader of the organization must be understanding in the economic climate and the action is taken to best serve their communities. The leader must also be able to manage future growth. Belle Meade faced competition from the organization who capture consumers time and money.

"Strategic management is a set of managerial decisions and actions that determine the long-run performance of a corporation" (Wheelen & Hunger, 2006, p.3). The benefits of strategic management helps the firm focus on the objectives and develop the steps involved in obtaining the vision and financial wealth of the organization. An effective strategic management plan should include the following three questions: (1) Where is the organization now? (2) If no changes are

It is the utmost concern of the leadership in the nonprofit to guide the organization through financial control. Through the guidance of the board of directors and officers, the organization aims to achieve its mission and vision. This accomplishment cannot be done without the strategic plan of financial control put into place by the leadership. It is important to set up internal controls and according to the Council of Nonprofits, financial management practices that are systematically used to prevent misuse and misappropriation of assets, such as occur through theft or embezzlement" (Council of Nonprofits, 2016). Leaders in the nonprofit world would do well to ensure they are following all the standards of best business practices and remaining accountable to the board, state, and

A vital part of the leadership system in many not-for-profit organizations is an unpaid board of directors or trustees. Often these individuals are bound by a common interest in the goals of the not-for-profit but come from dramatically diverging backgrounds.

In chapter one, Migliore et al. discuss how planning strategically can increase the efficiency and growth of nonprofit firms. Migliore et al. further list five areas that promote this process: 1) The adoption of successful business practices from the for profit sector to nonprofit firms, 2) improvements each year in managerial and planning practices, 3) pro-active leaders who believe that planning strategically is necessary, 4) nonprofit firms who learn from their past mistakes, and 5) preplanning activities that offset

The challenge of nonprofit leadership can prove to be daunting for even the most optimistic of individuals. The nonprofit industry is and expanding revolution, a force said to influence national and global economies. Domestically, the nonprofit sector accounts for “more than half of America’s general hospitals, nearly half of its education institutions and most of its family service agencies (Rowe, 2013), opportunities created by economic and political failures. In the wake of rapid development, environmental pressures, economic impact, and growing challenges, nonprofits are being placed under a microscope, being pushed to take more strategic approaches to NPO management and to apply sound business principals. For a novice in nonprofit leadership, such as I, the endeavor of creating a sustainable organization in such a competitive environment can be intimidating.

What Is Strategic Management a process for defining and addressing the management implications of an organization's strategic and operational plans? A long-term context for short-term activities. Strategic management is the analysis of the work done by the management of an organization on behalf of the owners. It gyrates around expressing the purposes of the organization and coming up with an appropriate mission and vision statement. Mission and vision statement together are used to help develop policies and plans to be used in long term and short term goals often categorized as projects or programs. It also involves the right resources of management to ensure that the business profit are maximized to grow the company. Strategic Competitiveness

n most courses in strategic management, students use cases about actual companies to practice strategic analysis and to gain some experience in the tasks of crafting and implementing strategy. A case sets forth, in a factual manner, the events and organizational circumstances surrounding a particular managerial situation. It puts readers at the scene of the action and familiarizes them with all the relevant circumstances. A case on strategic management can concern a whole industry, a single organization, or some part

Collins, J.C. & Porras, J.I., 1995, ‘Building a visionary company’, California Management Review, vol. 37, no. 2, pp. 80-100.

Therefore, strategic management is an all-encompassing approach for formulating, implementing and evaluating managerial decisions in a way that permits the business to reach its objectives.