Issue link: http://www.e-digitaleditions.com/i/61389
Your Turn by Michael M. Appell Don't Overlook Nonprofits! began dismantling The New Deal, Americans have become more adept at replacing and improving on government programs. In the last decade, 50,000 new nonprofits have been launched. Many executive positions are the result of an explo- sion in family and community foun- dations. Even during the recent economic downturn, the nonprofit sector has been surging ahead. Smart job seekers will look no organizations helping people with breast cancer. Today there are dozens. The nonprofit sector contin- ues to grow, even in times of reces- sion and geopolitical uncertainty. Students can profit from this trend, not only with a well-paying job, but also with a career where their skills will be appreciated and their sense of satisfaction can skyrocket. Ever since Ronald Reagan While business educators often channel students toward the Fortune 500s and lucrative startups, the best way for business students to use their MBAs may not be in the business world after all. The big secret—the one b-school professors don't often talk about—is that nonprofits are in desperate need of MBAs. A generation ago, there were IF YOUR STUDENTS FEEL NONPROFIT CAREERS MIGHT NOT SATISFY THEIR ENTREPRENEURIAL SPIRIT, CHALLENGE THEM TO LOOK AT THE FIELD MORE CLOSELY. business career with nonprofits. Strong nonprofits—and there are many—will pay MBAs well if they respect their work. In general, nonprofits often are truly entered the 21st century. Their boards are no longer accepting can- didates for leadership positions who don't relate to them as genuine peers. Instead, they're seeking cre- ative businesspeople who put a pre- mium on good ideas and execution. And competition has entered the nonprofit world, making trained business professionals even more valuable. If MBAs are "on the money," nonprofits will compete for them with attractive compensation and benefits packages. In spite of the attraction of non- beyond the traditional educational and health-related jobs to the array of local, national and international organizations serving every imagina- ble group in our society. After all, in the business world, our students are foot soldiers in the vast MBA army; in the nonprofit sector, however, they can immediately distinguish themselves. Better yet, a sense of sat- isfaction isn't the only reward of a 48 BizEd JANUARY/FEBRUARY 2004 long on principle, but short on busi- ness experience. And the best asset our students can offer those organi- zations is an understanding of how the business world works. For exam- ple, our students won't break into a sweat when reviewing a budget. They won't scratch their heads when members of the board mention Morgan Stanley or Berkshire Hathaway. They won't see manage- ment as an inconvenience, but as an opportunity to provide leadership. In a world where dedicated profession- als bring many skills to the table, our students will be the ones with the business skills to maximize personal talents and organizational efficiency. When it comes to appreciating business acumen, nonprofits have feel that nonprofit careers might not satisfy their entrepreneurial spirit, challenge them to look at the sector more closely. When they carefully examine a successful nonprofit, they're bound to find a leader with entrepreneurial savvy. That entrepre- neur could be an MBA who's willing to create new alliances, find better ways to deliver services, and offer a product that is the best in its class. Once MBAs realize the potential profits, as a business educator you still may think your students just won't be interested in this sector. Are you con- cerned your students won't think that a nonprofit career could be fast-paced or challenging enough? Encourage them to think again. Have them imagine, for example, leading the American Red Cross in the wake of the September 11 attacks; Teach for America at a time when educational reform is at the forefront; or the Peace Corps as globalization and technology continue to bring the ThirdWorld into the First. If you think your students will nonprofits have to offer, your students must be encouraged to learn the buzz- words unique to nonprofits. They should know that their supporters are called stakeholders instead of stock-