Best Practices in Nm Essay

765 WordsApr 17, 20134 Pages
Relationships with various Stakeholders Employees Businesses in the Not-For-Profit (NFP) industry might strive to exceed legal requirements and ethical expectations regarding layoffs, employee suggestions, part time benefits by following guidelines set by the IRS. Worker preferences tend to be more important in non-profit than in for-profit firms, but the weak incentives in non-profit firms means that workers will have more influence within non-profits (i.e part time benefits). Indeed, as Glaeser and Shleifer (2001, p 99-115) argue, the ability of workers to protect themselves from ex post appropriation in non-profits may be a major reason for the success of non-profit firms. Customers/Clients Businesses in the NFP industry might strive to exceed legal requirements and ethical expectations by, working through the local Chamber of Commerce, Enterprise Agency, Business Link, and IRS guidelines regarding: advertising that are truthful or aimed at children, written policies, monitoring sales methods and managing internal and external feedback. Suppliers/Vendors To exceed legal requirements and ethical expectations regarding: fair treatment of suppliers, the use of local suppliers and resources where possible, assistance to vendors to meet nominee’s standards of production, design and delivery, formal policies pertaining to gifts, entertainment from vendors and expectations of ethical behavior by suppliers toward the not-for-profit industry; businesses in the NFP industry should stress ethical behavior in all stakeholder transactions and interactions. Highly ethical conduct should be a requirement of and should be monitored by the organization's governance body (Friedman,1970, ¶ 3 ). Organizations should not only meet all local, state, and federal laws and regulatory requirements, but they should treat these and related requirements as opportunities for

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