5 Ways a Business Degree Can Help Non-Profit Organizations
What we all love about non-profit organizations is that they operate with a view to benefit the society and the general public rather than having profit-earning as their primary motive. A non-profit organization can actually generate any amount of profit, but that profit has to be used to achieve their goals and cannot be used as personal gain. So if you think about it, a non-profit, for the most part, operates like any other business, and as such, can always use people armed with business degrees to lend a hand, and here’s why. Before you read on, here’s a clear definition of a non-profit organization to provide a clearer picture.
Five reasons business degree holders are good for non-profit organizations
Working within a budget. Most non-profit organizations work within a budget that’s a lot more limited than that of an equivalent (revenue wise) for-profit organization. This means someone with a formal knowledge base in running a business is required to help manage the organization’s budget and make sure that the highest possible value can be squeezed out of the least amount of money.
Raising funds. The only way a non-profit can continue to remain relevant and go on doing the good work it does is by raising funds on a regular basis. Someone with a business degree can help non-profits actually do that by applying the education and techniques he or she may have picked up while attaining their Bachelor of Business Administration or Master’s degree.
Taking it to the next level. When it comes to non-profits, no amount of revenue is enough, because it isn’t about you or a handful of individuals. It’s about a worthy cause. Causes that are bigger than all of us. Someone with the right skillset and educational background can help a non-profit grow extremely healthy, maximizing their good work in multiple ways.
Competition. Unlike a for-profit business, despite having to stay afloat and generating revenues to service your cause, you can’t do it at the expense of your competition in a non-profit space. You are working towards the same cause after all. A professional with a business education can scout for opportunities to collaborate with external agencies (and even some of the competitors) to work towards the broader goal – it might just prove to be ‘that’ innovative step which could take the non-profit organization to the next level.
Innovations. To help achieve all the goals of a non-profit organization, its workforce needs to come up with insightful ideas and clever techniques to raise money, expand, and make the most out of what they’ve got. A fresh mind, honed in college, with innovative ideas is a great boon in these situations.
The satisfaction gained from helping others, the experience you receive from working towards overcoming these singular challenges, and the sheer room for professional and personal growth are some of the key reasons why college grads armed with Business Management Degrees take on jobs at non-profit organizations. It’s more than just a financially rewarding job.
There’s a lot you can do with business degree but if you’re interested in putting it to good use by managing a non-profit organization, then enrolling in a good program is one step towards fulfilling your career goals. Concordia’s fully online program is designed to fit your schedule so that you can carry on working while studying for your degree.
If a meaningful career with a business degree is what you’re after, contact our team for more information.