Question

An example of an APA style writing: if you were a foundation funder, how would you balance the need for efficiency in the nonprofit sector with the desirability of encouraging innovative new approaches?n example of APA style writing on:

Answer 1

Non-profit companies require funding to sustain their daily operations as they will not create revenue for profits. Hence, it is important that the firms need to maintain efficiency in the operations while also ensuring they encourage innovative approached aimed at cost reduction and process improvements.

Below is how both efficiency and innovation can be effectively managed -

1. Ensuring that the firm works towards cost efficienct operations to utilize the funds effectively.

2. Preparing reports on the utilization of funds on a periodic basis to identify where the costs are going.

3. Identifying and removing the inefficiencies.

4. Encouraging the firm's management to motivate employees to come up with creataive ideas that help in product or service or process innovations.

5. Helping the firm partner with technology firms to innovate on a continuous basis.