General Business
The practice of doing business activities with a focus on creating positive social impact
What is Business for Good?
An organization that aims primarily to support those in need and and donates surplus funds to improving the organization and surrounding community
What is a nonprofit?
One of the most simple yet effective methods used to implement positive community engagement. Involves charitable donations, volunteer grants etc.
What is fundraising?
Start small, test with trial and error, be clear on problems that you are trying to solve
What are considering factors when starting a business
The strategic allocation of financial resources across various needs and desires, incorporating income assessment, expenditure tracking, and priority setting
What is a budget?
A main focal point for many community-driven businesses that are concerned about their carbon footprint
What is environmental sustainability?
A specific subcategory of nonprofit organizations dedicated to fighting for workers rights
What are labor unions?
Advertisement and getting the word out there is a reason why community engagement will result in nonprofit success
What is generating awareness?
Some organizations have major nonprofit plans requiring a strong business foundation. Companies will try to reduce any additional costs so they are able to put more into the community.
What is sustainability?
Determining the amount of money a business has to fund operations, expand, and generate income
What is a purpose for a budget?
A negative descriptor/adjective commonly used for many large corporations and businesses
What is lifeless, greedy, immoral...?
A privilege given to nonprofits (among other groups) relating to the government and allowing nonprofits to put more funds into their work and the community
What is tax exemption?
Important for maintaining support for community engagement. Involves being clear, through updates and reports, on how donations are used and how funds are being allocated
What is transparency
A business that uses a 1 for 1 plan (for every 1 item purchased 1 of that same item is donated elsewhere).
What is Warby Parker, Toms Shoes, Bombas...
No matter what rung of the business you are on, try to share the budgeting plans with the rest of your collaborators to ensure everyone is in the loop on future projects and understands how the business is currently doing financially
What is a strategy used by successful businesses regarding budget?
The process of involving individuals, groups, or organizations that have a vested interest or stake in a particular project, organization, or issue
What is stakeholder engagement?
This category makes up the majority of nonprofit expenditures
What are goods and services?
A marketing method involving two businesses working together. A win-win situation for both sides
What is partnership marketing?
A business that initiated the community impact fund to improve donations to food pantries and nutrition organizations in New York and Idaho.
What is Chobani?
A component of a budget including predictable expenses that don’t change with the level of production or sales
What are fixed costs?
A type of business that is legally required to consider its impact on society and stakeholders, through a model called stakeholder governance, to receive and maintain its federal certification
What is a B-Corp/Benefit Corporation?
An accessory benefit to nonprofit organizations that involves the nonprofit’s effect as an indicator of community health to other organizations
What is attracting businesses?
A marketing method that is done in public where the purchase is being done (e.g in a store) to increase sales
What is point of sale marketing?
Not only do they have the goal of helping the environment, they have peace projects that formed ever since they’ve started, and have also participated in changing economic justice for marginalized communities.
What is Ben and Jerrys?
A component of a budget including long term investments that are budgeted for improvements intended to enhance the business’s efficiency and capacity
What are capital expenditures?