Financial A: Strategic Alignment

Align use of SOA financial resources with the strategic plan

Other Information:

The Society of Actuaries is a nonprofit organization—a financial entity with revenues and costs that must be carefully managed to succeed in fulfilling its mission. What not-for-profit organizations have in common is that they are mission based. The strategy map places services to stakeholders at the top of the map, rather than increasing shareholder value as would be the case in a for-profit organization. That is, the focus is on customers and serving their needs in order to accomplish the mission. In setting the annual budget, the overall goal is to provide resources for ongoing operations and strategic initiatives, while maintaining retained earnings at acceptable levels. The share of the budget dedicated to funding strategic activities is a key indicator of the SOA’s commitment to the strategy.

Objective(s):

1

Content