ACF3200 Management Accounting

Report for the MSFIN Management Committee

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Table of Contents

Introduction. 3

Discussion. 3

Performance of the organization to the external stakeholders. 3

Important information for management 3

Measuring social impacts. 4

Suggestive ways to measure the social impacts. 5

Benefits of organization in ensuring the Sustainability. 6

Conclusion. 7

Introduction

MSFIN is a non-profit organization in Australia that provides its service to the needy community. Recently this organization released their strategy document to develop their service but the external stakeholders of this organization need some change in this document which benefits them and this organization as well. In this report, the ways through which this organization is developed are discussed.

Discussion

Performance of the organization to the external stakeholders

MSFIN is a five-year-old organization that is run by some dedicated volunteers and this organization also collaborated with some external stakeholders. This organization provides different kinds of services to its stakeholders. This organization tries to understand the demands and the needs of the struggling families and also tries to provide the basic things for their well-being. MSFIN provides food and second-hand good quality clothes to needy children.

This organization also tries to understand the complexity of the families so they can provide for them in urgent situations. This organization also provides shoes for needy children through their stakeholders. This organization also provides such things which meet the safety standards. This organization also delivers goods for struggling families through their stakeholders. MSFIN also provides medicines and important baby stuff to needy families. Contribution to society also helps to create a good social impact on this organization.

Important information for management

MSFIN provides basic needs to the families who are struggling in society. This non-profit organization is based in Australia. Currently, this organization released a strategic document that needs some improvement to overcome the difficulties within a short time period. This strategic document helps this organization to communicate with the stakeholders and also tell about their services. This organization wants to create a strategic plan for the management committee through which the members of the committee get the important information for the development. If this organization wants to create a plan for the development within a short time they need to follow the following steps.

• First of all, they have to keep in mind their purpose and the purpose of this organization is to provide basic things to needy families.
• They have to consider the demands of the stakeholders which also helps to set out the plans.
• Making a plan needs teamwork so this organization needs dedicated team members.
• A structured plan needs to clear the vision first and in this case, this organization needs to review its current position and future goal for better planning.
• Analyzing the demands and also estimating the service quality is an essential part of planning through which the committee members can get the proper idea of which amount of products they need and what amount they can deliver to the stakeholders.

After maintaining these steps the organization is ready to make a successful document through which they are able to communicate about their performance with the external stakeholders.

Measuring social impacts

MSFIN is a non-profit organization that delivers the important basic stuff to needy families in the local community through the stakeholders who develop their social impact and also social performance. This organization works with over 80 external stakeholders and also recruits volunteers. MSFIN wants to direct its activities in the right direction with a better strategy for its own benefit. The performance of this organization is excellent in the local community and this organization also wants to grow its performance as its focus is to get positive feedback from the locality.

Suggestive ways to measure the social impacts

Currently, the main focus of this organization is to gain a positive impact in the local community. So for this reason this organization seeks some ways to measure the social impacts through which they can be able to develop their service. Measuring the social impact is the critical part that defines the effectiveness of the particular organization. There are some ways through which this organization becomes able to measure the social impact. The ways are discussed below.

Figure 1: Social impact measurement model

Source: (Ssir, 2022)

• The first step to measure the social good is to create a framework that helps the organization to create the structure. Before starting the program organization has to identify a suitable framework that helps to get the knowledge about the available resources. The framework also helps to find out the opportunities for the organization.
• The involvement of the stakeholders and the volunteers also helps an organization to improve the social impact in a positive way. It is also necessary to understand the changes for the development which puts a positive impact.
• The organization has to be transparent about its service through which the stakeholders also get the knowledge of their goals.
• Clearing the purpose in the report is necessary which also encourages the local people to engage with the organization through which the organization can be able to develop.
• Identifying the suitable strategy and then creating a model and then verifying the results is beneficial for the organization to evaluate the performance or also to measure the impacts.

These are the possible ways through which an organization becomes able to measure the social impacts which are also helpful for their development.

Benefits of organization in ensuring the Sustainability

MSFIN becomes helpful after implementing the steps in their process through which they are able to measure the social impacts successfully. It also helps to improve the sustainability within the organization. MSFIN also focuses on providing quality products to needy families. The steps also help to identify the fraud and also help to prevent this after the detection and can control it (Zietlow et al., 2018). The Sustainable development goals help this organization to judge the progress. Suitable volunteer recruitment helps the organization to improve its performance (Mitchell & Clark, 2020). MSFIN provides holistic support to needy families. Analyzing the current position and examining the demands of the locality also helps the organization to ensure sustainability (Nassar & Elsayed, 2018).

Responsible investment in the organization also helps to develop sustainable goals. A better understanding of the environment helps to develop a sustainable practice within the organization (Kraus et al., 2018). Conceptualizing the importance and also understanding the dimension also helps the organization to develop sustainable practice (Ajmal et al., 2018). The information and the measurement steps are proved beneficial for MSFIN through which they are able to measure the social impacts which also helps them to develop and also help them to achieve their goal and improve their social performance.

Conclusion

After the assessment of the entire report, it can be concluded that MSFIN is now capable of preparing a successful strategic document that helps this organization to evaluate its performance and also helps this organization to communicate with the external stakeholders. This organization is able to find out the possible ways through which they can be able to measure the social impacts on the local community. This organization is now able to achieve its goals within the time limit.

References

Ajmal, M. M., Khan, M., Hussain, M., & Helo, P. (2018). Conceptualizing and incorporating social sustainability in the business world. International Journal of Sustainable Development & World Ecology, 25(4), 327-339. DOI:https://doi.org/10.1080/13504509.2017.1408714

Kraus, S., Burtscher, J., Vallaster, C., & Angerer, M. (2018). Sustainable entrepreneurship orientation: A reflection on status-quo research on factors facilitating responsible managerial practices. Sustainability, 10(2), 444. DOI:https://doi.org/10.3390/su10020444

Mitchell, S. L., & Clark, M. (2020). Volunteer choice of nonprofit organization: an integrated framework. European Journal of Marketing. DOI:https://doi.org/10.1108/EJM-05-2019-0427

Nassar, D. M., & Elsayed, H. G. (2018). From informal settlements to sustainable communities. Alexandria engineering journal, 57(4), 2367-2376. DOI: https://doi.org/10.1016/j.aej.2017.09.004

Ssir. (2022). Measuring Social Impact Can Help Foster a Stronger European Social Economy (SSIR). Ssir.org. Retrieved 9 February 2022, from https://ssir.org/articles/entry/measuring_social_impact_can_help_foster_a_stronger_european_social_economy.

Zietlow, J., Hankin, J. A., Seidner, A., & O’Brien, T. (2018). Financial management for nonprofit organizations: https://books.google.co.in/books?hl=en&lr=&id=T0VRDwAAQBAJ&oi=fnd&pg=PR23&dq=ensuring+sustainability+in+non+profit+organisation&ots=T0UcdUTHqX&sig=HkMFfX2m2rFvXUAzljCuryONBtE&redir_esc=y#v=onepage&q=ensuring%20sustainability%20in%20non%20profit%20organisation&f=false