Business practices can help nonprofit´s management and operations positively by influencing how business conduct their work. Ken Beger and Jeremy Kohomban call this “the non profitization of business”—the infusion of nonprofit qualities and practices into business.
The value proposition in the non profitization of business falls into at least two important categories:
1. Workforce implications. There is a sense that most people want a sense of meaning in their work. Not everyone who goes into the business world is solely interested in making money. Millennials who frequently participate in workplace volunteer activities are more likely to have higher employee satisfaction, as compared to those who rarely or never volunteer. Some experts take this reality a step further and observe that “in the long run, social and economic goals are not inherently conflicting but integrally connected.”
2. Corporate model evolution. The business model of short-sighted maximization of profits is not the best long-term approach for expansion in such a cultural context. People will require that others respect their cultural values. Nonprofit values of cultural sensitivity help corporations find the right balance.
Ken and Jeremy believe that we are seeing these two value propositions in the nonprotization of business. Organizational models that promise to drive social impact while earning a profit for the investor.
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