Question

Numerous companies in the US have incorporated faith-based missions, goals and objectives into their organizational structure and operations. Some have included scripture references on their products; other have remained close on Sabbaths to provide employees with time for worship, family and rest.

We use the financial statements to review and assess the financial performance of most companies, but how can you evaluate the success of these faith-based companies in achieving its faith-based goals?

For this activity, identify a company that has faith-based goals and objectives included in its company mission and vision. Determine (construct) two measures that could be used to assess the performance of the company with respective to its stated goals. If possible, collect the required data to perform this assessment and share the results of your findings in a brief, one-page, double-spaced narrative.

Answer 1

Answer to the above question:

A faith based organisation is an organization whose values are based on faith.

Faith based companies faces huge challenges. They are required to demonstrate that they are good at helping the needy person as they claim themselves to be.

The challenges of the rapid change can be responded with the help of outcome based evaluation. It helps in defining success and to measure the degree for achieving those goals. It helps in measuring effectiveness as well as helps in refining the work done.

Outcome based evaluation is an effective alternative to process based evaluation. Outcome based evaluation helps in promoting the unique and distinctive mission of the organisation in many ways. Such as:

A) it is a versatile evaluation method.

B) it reflects the personalised nature of human services.

C) it is a person centric form of evaluation.

A company that has faith based goals and objectives included in its company mission and vision is: Tearfund.

Tearfund is an UK Christian Relief and Development Agency. It supports those on poverty and provide disaster relief for disadvantaged communities.

Measures that could be used to assess the performance of the company with respective to is stated goals:

A) Corporate Social Responsibility (CSR): it refers how a company considers broad range of factors as part of its business strategy.

B) double bottom line investing: it refers to the goal of achieving both financial and social returns through an investment strategy.