Financial Management Research Paper

Financial Management Research Paper

Instructions/Descriptions

Financial Management Research Paper

Read the posts of your peers and respond to at least one. Ask clarifying questions or add to the information in the learner’s post. As you did in your initial post, use your research to support your claims and be sure to cite your sources according to APA guidelines.

Student post down below:

A performance management system includes: ensuring the people involved are supporting the cause, identifying the mission in relation to the customers or clients; indentifying what is being measured, identifying the data sources and the data collection processes, and determining the data comparisons (Weikart, Chen, Sermier, 2013).

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Maclndoe and Barman (2013) indicated the role of resource providers, organizational networks, and internal stakeholders play a part in outcome measurement. Resource provider may request recipients to become more engaged; organizational networks may need more requirements to achieve effective governance (Maclndoe & Barman, 2013).

Maclndoe and Barman (2013) suggested internal stakeholders often request evaluations to be performed and hold nonprofits accountable. Stakeholders such as board members, staff, clients, and other agencies should be involved in many aspects of performance management to ensure the mission is achieved and the organization is successful. Weikart, Chen, and Sermier (2013) stated “external stakeholders are invested in seeing performance measures, because from their outside perspective they need some way to evaluate the organization’s mission success, a determining factor in whether they continue their support” (p. 209).

Some nonprofit organizations may use enterprise funds for their programs or services. Accounting Tools (2012) described government enterprise funds as self-supporting funds that sell goods or services for a fee; example is a government-owned power generating facility providing electricity for a fee. Enterprise Community Partners (2020) indicated nonprofit enterprise funds may come from tax-subsidiaries; examples are charitable organizations and housing development organizations.

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South Central Community Action Programs (SCCAP) partners with other agencies, organizations, and foundations within the community to achieve their mission and serve the people in need. The Homeless Assistance Program (HAP) is a program within SCCAP that help individuals or families facing eviction; this particular program may require government or nonprofit enterprises to help build more facilities or receive more funding to serve the homeless population (SCCAP, 2020). However, major problems such as poverty, education, and healthcare cannot be effectively addressed without multiple actors measuring the collective performance (Hanna, 2011).

Financial Management Research Paper

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