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BUSN WK6 Assignment Analysis

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BUSN WK6 ASSIGNMENT The main approach would be for the board to provide a strategic plan set in place for the nonprofit organization and its mission. Once the funds have been allocated, it is the responsibility of the CEO/Executive Director to see that those funds are applied as assigned. All funds disbursed for day to day operations, weekly and monthly are tallied. If the forecast for a certain program was over estimated, the CEO/Executive Director can inform the board and suggest other avenues for unassigned funds. It also presents itself in the form of first-hand knowledge, like being on the front line and reporting back to headquarters of the current positions. CEO/Executive Directors in the nonprofit sector are focused and balanced at the same time for maximum success. Lacking knowledge on finances, most executive directors need to know what financial information is essential. Having that information or financial statements in an understandable format and knowing how to analyze those reports to assess the financial health of the organization is crucial for making programming decisions and financial goals. (Brickman, P. 2005). This information of analysis is transferred to staff for proper processing. Some programs based on actual report may need to be decreased or increased depending on which way the arrow is pointing and for whom. …show more content…

It is said that “A good leader knows when to follow”. This is the perfect type of competent CEO/Executive Director required, because he/she will be doing a lot of both. Daily or weekly meetings can be implemented for the most recent updates. It is also important to make the CEO/Executive Director know that his opinions matter and perhaps the rope could use as little slack. The BOD should make the CEO/Executive Director feel that his decisions are based on a mutual understanding for

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