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© BBG, LLC 2005 |
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A Contemporary Legacy
Not-for-profit organizations faced and successfully transitioned many of the board oversight issues currently confronting the for-profit sector which has recently caused considerable media attention and public dismay.
Board of director issues speaking to diversity, transparency and ethics were addressed within the public sector of business more than two decades ago.
As a result, there is a comparative sensitivity among many of the not-for-profit industries that the for-profit corporations are only now being forced to contemplate.
While the budgets and corporate manpower size of the not-for-profit organizations will never match the global scope (and complexity) of multi-national for-profit corporations, the boards have nevertheless, stood eye-to-eye with the same issues that determine whether an organization prospers on the grounds of sound management reasoning (and virtue) or whether they are sidetracked and organizationally dismembered by their own wrong doing.
Boards of directors of not-for-profit organizations are likely to recognize their own shortcomings more quickly and are more likely to seek professional assistance more readily. This is much to their credit.
In short, the not-for-profit sector of business has much to share with the for-profit “giants” of US industry.
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