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Financial Management Strategy in a Community Welfare Organisation: A Boardroom Perspective
Author(s) -
Parker Lee D.
Publication year - 2003
Publication title -
financial accountability and management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.661
H-Index - 44
eISSN - 1468-0408
pISSN - 0267-4424
DOI - 10.1111/1468-0408.00178
Subject(s) - accountability , business , welfare , strategic financial management , financial management , accounting , public relations , context (archaeology) , focus group , corporate governance , finance , strategic planning , economics , marketing , political science , paleontology , law , market economy , biology
This paper presents the results of a four year participant observation study of boardroom deliberations and resulting financial management strategies in a large not–for–profit religious based community welfare organisation. Employing a complete membership research approach and informed by grounded theory analysis, the study develops a micro–theoretical framework portraying boardroom financial management and accountability strategising. The study finds that the strategic focus on mission financing was conditioned by the contested formulation of strategic objectives, core organisational service philosophies, and executive–board member interaction. A significant observed outcome of the strategic mission financing focus was the management of accountability and disclosure, to which two key strategies were contributory. These were the exercising of financial control and the exercising of relationships management. The findings offer hitherto unavailable insights into strategic financial management and accountability processes and their context at the boardroom level in the religious not–for–profit community welfare sector.