Disruptive innovation is changing the game for NFPs

A solid strategic plan makes your not-for-profit more effective. Get to know some of the key disruptive forces facing Canadian NFPs and explore how confident, qualified leaders can help organizations evolve and excel.

The main disruptive forces affecting the Canadian not-for-profit (NFP) sector today reflect many of the same cultural and economic shifts we’re seeing overall. Globalization, changing demographics and technology are shaping how we engage with each other and our everyday lives.

Strong leadership directly contributes to an organization’s resilience and influence, while better strategy can translate into maximized resources and the increased reach you need to achieve organizational goals.

If you are a senior financial professional and executive leader in the not-for-profit world, your role is critical to balancing the demands of public interest and financial sustainability.

DISRUPTION AND SMART GROWTH

According to a recent Imagine Canada report, the NFP sector is one of the fastest growing sectors in the country at a pace of 6.4 per cent annually, outpacing Canadian GDP.

Competition is increasing, heightened global connectivity is changing how people interact with organizations, and thanks to the rise of millennials who now make up the majority of the workforce, social channels are playing a larger role in how organizations raise money and promote their work. When considered alongside other disruptors, like the growing popularity of social enterprises – for-profit businesses that adopt cause-based mandates more commonly associated with NFPs – the market gets complicated.

It’s important to embrace both the challenges and opportunities of disruption – from rethinking public engagement, democratizing fundraising strategies and adopting sustainable business models to overhauling best practices in operations, marketing and management.

ADAPTATION AND INNOVATION

Not-for-profits that excel benefit the economy and improve the vitality of our communities. At the heart of these organizations and charities is a basic commitment to the uniquely Canadian ideal of good business: doing work that is fair, open, effective and strong.

Disruptive innovation encourages senior leaders in the not-for-profit sector to tackle financial and operational problems strategically, in a way that creates scalable, systems-changing solutions.

NFPs should operate with transparency, keep the public interest in mind, provide solutions to social problems and be financially viable. The right leadership makes that possible, and proper guidance from CPAs on accounting, data analysis, policy and decision-making helps bring those ideals to life.

If you want to help your NFP grow smart, then you need to be a confident leader who can navigate disruptive change. A solid strategic approach focuses on knowledge and skills that support resilience in these key areas:

  • investing in not-for-profit leadership development and capacity-building
  • harnessing the power of big data insights to increase efficiency and better understand your market and members’ needs
  • using digital media and technological advancements to improve service delivery, optimize fundraising initiatives and share meaningful information
  • creating the best alignment of resources (time, money, people) to achieve your organization’s top priorities

To learn more about how you can take advantage of disruptive forces in the not-for-profit sector, register for one of these professional development opportunities:

Not-for-Profit Executive Forum 2017
March 1-2, 2017 | Toronto, ON | CPD: 14 hours
Virtual attendance option

Gain practical organizational insights and learn from industry experts at this annual event for not-for-profit leaders, executives and financial professionals.

Translating Strategy Into Action: A Guide for Not-for-Profit Senior Leaders
Multiple dates available in 2017 | Toronto or Vancouver | CPD: 30 hours
Virtual attendance option

Drive strategic organizational change and learn how to navigate the top challenges facing your not-for-profit in this comprehensive two-phase workshop.