April 2015

Mohammad Anas Wahaj | 30 apr 2015

According to the new research by Eduserv, 'Creating The Right Environment for Digital Transformation', most charities are aware of the importance of IT and digital transformation to improve the way they deliver services and engage with their volunteers. But there seems to be lack of clarity about how they will implement and accomplish this. Report observed three challenges that charity leaders are facing while driving digital transformation - (1) Strategy and Knowledge Gap: Many of those at the top of charities have yet to grasp that digital transformation is not about using technology or digital platforms to replicate existing activities but about fundamental transformation of the way charities go about doing their business. (2) Structure: Delivering on the needs of the digital-first charity requires different ways of organising and managing teams. Most charities are still relying on old structures and working relationships. IT and digital are failing to add value because they are seen as service providers and support functions rather than business partners. (3) Infrastructure: Charities are not only failing to put in place the right IT platforms but they are failing to invest in people with the right skills to support their digital future in their IT teams. To overcome these challenges, charities can do the following - (1) Embed digital capability at the top of organisation's leadership, so that digital is embedded at the heart of a charity's strategic thinking. (2) Build a digital-first culture throughout the charity. It is not realistic to expect digital and IT teams to drive change from the margins as support functions. Invest in IT and digital skills and tools. Read on...

Information Age: Digital transformation - the pressing three priorities for charities
Authors: Chloe Green, John Simcock

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Mohammad Anas Wahaj | 27 apr 2015

To get a for-profit social enterprise started and make it self-sustaining requires different types of fundraising at different stages of the venture's growth. Lisa Curtis, founder of Kuli Kuli Foods, suggests the following stepwise process to effectively finance the enterprise - (1) Put the idea for an enterprise on paper and participate in business plan competitions to win prizes and also to learn, connect and promote it to increase the chances of future funding. (2) Join an accelerator program as it helps to build the necessary funding network or sometimes it provides funds directly. (3) After business plan competition and refining the idea through an accelerator program, get on with crowdfunding campaign. But before the launch of crowdfunding it is important to know exactly how much money is required and what the final product will look like. (4) Once the product is ready for the market, it becomes important to sustain the business without running out of money. At this stage acquiring a loan will be an important financial strategy. (5) Once the business starts to grow and idea has got 'proof-of-concept' from the market, the next step is to seek angel investors. One way is to do an accredited-only crowdfunding campaign. Moreover join an investor network, prepare a solid executive summary and keep on pitching to prospective investors. (6) Keep the focus on the main purpose of the social enterprise i.e. to make a positive impact on the world. This will provide the strength to carry on during the challenging times. Read on...

Triple Pundit: 6 Steps to Finance Your New Social Enterprise
Author: Lisa Curtis

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Mohammad Anas Wahaj | 27 apr 2015

According to the American Enterprise Institute, social enterprises 'differ from typical government programs in that they are a business, usually operated outside of government, with a concern for the bottom line. They are typically started by people who want to make a difference in society by helping others.' The new study by Mathematica Policy Research states that social enterprises might be one part of the answer to combating poverty in the United States. The research evaluated social enterprises in California and found these public/private businesses increased employment, decreased dependence on government and increased the likelihood individuals had stable housing. Read on...

MacIver Institute: Social Enterprises - A Solution to Employing the Hard-to-Employ?
Author: Nick Novak

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Mohammad Anas Wahaj | 25 apr 2015

The survey of 924 nonprofit board directors conducted by team of researchers (David F. Larcker, William F. Meehan III, Nicholas Donatiello, Brian Tayan) from Stanford Graduate School of Business supports a long-held hypothesis that many nonprofit boards are ineffective. The study revealed that a significant minority are unsure of their organization's mission and strategy, dissatisfied with their ability to evaluate their organization's performance, and uncertain whether their fellow board members have the experience to do their jobs well. According to Prof. Larcker, the lead researcher, 'Our research finds that too often board members lack the skill set, depth of knowledge, and engagement required to help their organizations succeed.' Researchers offer following recommendations to improve nonprofit board governance - (1) Ensure the mission is focused, and its skills and resources are well-aligned. (2) Ensure the mission is understood by the board, management, and key stakeholders. (3) Establish explicit goals and strategies tied to achieving that mission. (4) Develop rigorous performance metrics that reflect those goals. (5) Hold the executive director accountable for meeting the performance metrics, and evaluate his or her performance with an objective process. (6) Compose your board with individuals with skills, resources, diversity, and dedication to address the needs of the nonprofit. (7) Define explicitly the roles and responsibility of board members. (8) Establish well-defined board, committee, and ad hoc processes that reflect the nonprofit's needs and ensure optimal handling of key decisions. (9) Regularly review and assess each board member and the board's overall performance. Read on...

Business Wire: Stanford Research Offers Nine Tips to Improve Nonprofit Governance
Author: Heather Hansen

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