The research completed also shows that both subjective and quantified approaches to strategic planning for externally-oriented nonprofits also tend to create this inferred ownership of the strategic plan, its goals, and therefore increase its probability of success. Clearly having an external focus with a "customer" who is to be served is a highly effective aspect of a nonprofits' strategic planning process. Crittenden & Crittenden (2000) also make the point that nonprofit organizations researched have both instrumental and expressive tendencies at the same time, a deliberate strategy taken to make sure that individual constituencies' goals and objectives are met. This hybrid approach to strategic planning requires a nonprofit organization to be highly agile, informal, and collaborative in its information and knowledge management.
Assessing Strategic Planning in Nonprofit Organizations
The differences in the strategic planning of nonprofit organizations are significant compared to their for-profit counterparts. First, strategic planning in for-profit organizations typically centers on financial projections and analysis, including measures of Return on Investment (ROI), Return on Invested Capital (ROIC) and plans for capital expenditures to increase the earning capability of the for-profit organization. Second, nearly every for-profit organization has a structured strategic planning process that is based on external market forecasts and sales forecasts that strive to minimize the risk of relying on only a few dominant sources of revenue. It can be inferred from the research completed by Crittenden & Crittenden (2000) that nonprofits often find that one or two benefactors comprise the majority of their funding, and as a result can exert significant influence on the strategic planning process and priorities defined...
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