Last week, I attended the PrimeGlobal Asia Pacific Conference in Melbourne, Australia with about forty other delegates from Asia, Europe and the U.S. The conference had several sessions on business and tax considerations of investing into and from various countries. In addition to topics about tax and business in Asia, the conference included discussions of “What it means to be a Professional” in today’s world, personal branding and networking, going paperless, and perhaps the highlight presentation- Globalization of the Not For Profit Sector.
Tony McKimmie, COO of Oxfam Australia, facilitated a discussion about changes impacting NGOs operating around the world. From reductions in government funding and competition for private funds to reducing administrative costs, non-profits across the globe face the same challenges as for profit businesses. Mr. McKimmie’s presentation focused on expanding Oxfam’s mission by globalizing the organization. Rather than operating as independent entities, Oxfam will work to become a cohesive worldwide body that will better leverage its resources to achieve its mission.
Although the motivation in the not for profit sector differs from goals in private enterprise, the issues and opportunities are not dissimilar- virtually all organizations are functioning in a globalized economy, competing for limited resources and working to more effectively utilize capital. We can learn a lot from business practices of both sectors.
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