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Monetary Management
The monetary function of management
Even as the manager at a non-profit organization, one cannot be careless about monetary management. In fact, as the main means of making money for a non-profit organization are through fundraising as well as student registration fees (which are fairly modest, given the non-profit structure of the entity I work for) a manager must be doubly careful not to exceed an allocated budget. Despite the tax-exempt status of some nonprofit entities, this does not mean that nonprofits can be careless when sources of funding are unstable, and may fluctuate from semester to semester, based on student interest.
Requiring workers to justify expenses is one of the most difficult and unpopular forms of monetary management. This can foster unhealthy competition within an otherwise cohesive and friendly organization. (Sutton, 2003) However, a good manager must ensure that workers do not go over budget, or use allocated expenses frivolously for their own personal enjoyment. One of the advantages of working with a company that does so much of its business online, however, is that substantial expenses are saved by the lack of a need for a wasteful paper array of paper resources that world requires extensive storage, shipping, and ordering of forms, computer ink, and other common office supplies. Although some of these things are necessary, they are not nearly as ubiquitous as in some other firms.
However, working for a technically-based firm requires a great deal of knowledge, upon the manager's part, of how to allocate resources for employee education, to keep abreast of current technical developments in the field. Sometimes one must invest money to save money in the long run, particularly in a technical firm that is educationally directed, such as the one I work for. Additionally, solicitation of outside funds and fundraising activities are another potential drain as well as a source of necessary monetary income for a nonprofit.
Works Cited
Sutton, Richard I. (November 23, 2002) "Organizational Behavior: The Enemy Next Door. CIO Insight. Retrieved 13 Jan 2005 http://www.cioinsight.com/article2/0,1397,1455148,00.asp
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