In my business and organizational theory courses, I was taught that efforts requiring more than one person could benefit from management or business principles. For example, once responsibilities are divided among different people, money changes hands (or accounts) or the group forms an identity separate from the individuals, operational rules help reduce duplication of effort, accounting practices ensure adherence to regulations and provide indicators of solvency and strategic planning helps ensure that everyone is working towards the same goals.
This idea applies to non-profits/not-for-profits and academic institutions. Increasingly these types of organizations are also relying on best business practices to differentiate themselves from competitors and remain viable.
As a career tip, I advise everyone to take a business class or two or three, e.g, on strategic planning, social entrepreneurship, finance, human resources, leadership, operations, etc . Even if management or leadership is not your focus, this kind of knowledge and experience can help you help your organization succeed….and help you differentiate yourself from your colleagues.
