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Not For Profit Industry In Australia Essay

397 Words2 Pages

Globally, not profits are estimated a multi-trillion dollar-industry (XXXX). The wealthiest not for profit organisations are domicile globally, with the largest contributors spread across the world including, 25 (United States (US) and Canada, 3 (United Kingdom (UK)), 5 in Europe (Netherlands, Germany, Sweden, Denmark, Portugal), 2 in Asia Pacific (Hongkong and India) and 2 in the Middle East (United Arab Emirates and Saudi Arabia). On a local level, Australian not for profit Graph (NFPs) 1 Global Not for profit Organisations by Wealth and Geographical Dispersion Source (NFP): 1 organisations comprise approximately a $180 multi-billion dollar-industry. Despite this wealth, globally and in Australia, not for profit organisations are in a …show more content…

In line with the new public management reform agenda, the ACNC has been established to restructure and regulate Australian not for profit industry sector organisations. Operating under a statutory legal framework, the recent introduction of the ACNC Bill (2012), has transitioned not for profit industry sectors from a community-focused to a corporate-commercial model of highly regulated compliance-driven goods and services delivery. Consequently, Australian not for profit organisations are compelled to comply with contractual obligations, corporate, statutory, state and territory laws. Due to these changes, strategic performance management knowledge and systems are increasingly viewed as a remedy to attain and maintain a competitive marketplace advantage, adhered to complex regulatory compliance requirements and contractual obligations and to sustain government funding to continue the delivery of goods and services to the Australian community, families and individuals. De Lancer-Julnes and Stecollini (2015) outline several cases to illustrate the complexity of strategic performance management in a new public

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