Why profit shouldn’t be a dirty word for the not-for-profit sector
While commercial businesses are embracing a shift in social consciousness, moves toward investing more on marketing and greater commercialisation by NFPs are experiencing disastrous resistance. NFP boss and brand strategist John Carroll discusses what can be done.
Australians have long prided themselves on taking care of the less fortunate and those in need. But traditional thinking and old-fashioned attitudes could be dooming many charities and human service providers to extinction.
The world is fast changing for not-for-profits. It’s an interesting paradox that while businesses in the commercial sector is increasingly adopting initiatives to boost credibility as social and community-minded champions, the not-for-profit sector is under growing pressure to develop commercial acumen and marketing prowess.
These two very different organisational models are, out of necessity, drawing closer together on the social good versus profit maximisation spectrum.
This raises a crucial question: How will NFPs fund and fight a competitive battle for customers and donors when profit is still a dirty word in the sector?
Excellent piece John – you’ve nailed it on all key areas. Now we need the ongoing conversation for change to be informed by your wise perspective. Thank you for so clearly identifying the issues