Three Most Important Aspects of the Course
To become a good leader and run a financially successful organization, one must learn how both for-profit and nonprofit companies function. By understanding their economic objectives and functions, as well as how they manage financial concerns, one can develop a general idea of challenges and essential characteristics of the global economic environment. Therefore, the opportunity to explore the wide range of factors that affect nonprofit and for-profit organizations in the global market is one of the essential aspects of the course. Also, it was crucial to learn about the differences in the functioning of for-profit and nonprofit companies. The obtained information helped analyze the two types of organizations respectively, paying close attention to economic, financial, social, legal, and technological factors that affected them (Vlachvei, Notta, Karantininis, & Tsounis, 2016). Finally, the third and the most important insight into the nature of for-profit and nonprofit organizations concerned a detailed analysis of the types of leadership and management styles that could be used when running the specified types of entities.
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Nonprofit Organizations and Local Governments: Relationships
Nonprofit organizations (NOs) are linked directly to local authorities since there is a strong need to create a support system in which NOs can function. For instance, local authorities can be very helpful in providing NOs with a chance to build a strong presence within a particular community. Furthermore, local authorities can provide NOs with the leeway for handling political issues that may arise within the chosen setting. For instance, NOs can manage a wide range of bureaucratic hindrances with the assistance of local authorities. As a result, corporate processes will occur at a faster pace, and NO will start its operations faster. Finally, local governmental authorities can provide NOs with access to a vast number of resources, including the ones that are linked to philanthropy (Shick, 2015). Thus, cooperation with local authorities is essential to NOs’ functioning and success in the selected community. It should be noted, however, that the specified opportunities raise a range of ethical questions regarding the allocation of state financial resources.
My Thinking and Learning Process and Implications for Future Learning
Obtaining new information and knowledge about NOs, their specifics, differences between NOs and for-profit companies, and other important data, played a crucial part in shaping my understanding of contemporary business and economic concerns. When considering the advantages of the course, I must mention that it encouraged me to think critically and creatively at the same time. Moreover, I finally managed to introduce orderliness into my thinking process by starting it with the identification of the problem, proceeding to the identification and analysis of important factors, and concluding with the location of available opportunities for improvement. The learning process has also experienced significant changes, becoming more independent. The observed alteration can be seen as a significant change since it will empower me to become responsible for learning new information and training new skills. By engaging in meta-cognition, I managed to deconstruct my learning process, thus becoming capable of managing it more effectively.
Learning Experiences, Derived Learning, and Appreciation
The learning experiences during the course were rich and inspiring. A profound analysis of case studies showed how business-related dilemmas of varied nature could be resolved in the context of an NO. Also, the importance of derived learning must not be left unappreciated. The active use of simulations allowed embracing a vast array of factors affecting decision-making in the environment of an actual market. Thus, derived learning served as the platform for constructing professional knowledge about NOs. The multifaceted nature of the process, in turn, contributed to the promotion of interdisciplinary learning. The resulting in-depth analysis of the issues faced by NO owners in the global market showed the importance of a detailed assessment of crucial economic factors and the application of relevant theories (West & Worthington, 2017). Overall, the course made me appreciate the discipline greatly. Although I used to dismiss the importance of NOs in the realm of the global market, paying attention mostly to for-profit companies, the course showed me that NOs also play a crucial role in the market development.
Learning Experience, Past Learning, Life Experiences, and Future Goals
Due to the multifaceted process of learning, I managed to make an array of connections between the information provided during this course and the knowledge acquired from other courses. For example, the issues associated with risk management in a business environment were related directly to the factors to which an NO is exposed in a particular market. Therefore, background knowledge proved to be essential to the understanding of the course material. Additionally, the life experience that I have had so far appeared to be essential for completing the course. After having observed several issues within an NO, I was ready to participate in simulations and other activities that required fast thinking and analytical skills. Finally, the course had a direct connection with my future goals. Although I do not see myself as a leader of an NO currently, it is important to learn about the factors that defined the efficacy of organizations in the global economy. The course has provided crucial knowledge about managing a company in the global market, and I will use it to succeed as a business leader.
Shick, R. A. (2015) Government contracting: A public solutions handbook. New York, NY: Routledge.
Vlachvei, A., Notta, O., Karantininis, K., & Tsounis, N. (Eds.). (2016). Factors affecting firm competitiveness and performance in the modern business world. Hershey, PA: IGI Global.
West, L. L., & Worthington, A. (Eds.). (2017). Handbook of research on emerging business models and managerial strategies in the nonprofit sector. Hershey, PA: IGI Global.