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A Director of Development (CDO) is essential for any organization looking to maximize the growth of available assets, increase bottom line results, and utilize available resources in the best possible way. The CDO works closely with the CEO, board of directors, and CFO to implement specific structures and operating procedures that promote this approach. They also identify steps and prepare procedures for each level of company involvement to achieve measurable action items aimed at achieving goals.
Any organization that wants to expand its offerings of goods and services while maintaining current ones and perhaps enhancing current ones realizes that the lifeblood of that organization is found to maximize the growth of available assets. To be effective, the strategies employed to maximize the use of available resources need to be intentional, focused and with specific goals in mind for increasing bottom line results and how to use what is already available. To achieve these goals, there needs to be a key person who excels at resource management and risk transfer. That’s where a CDO, or Director of Development, comes in handy.
The Director of Development is tasked with ensuring that everyone involved with the organization is on board with the goals and purposes of the operation. In a company set up to make a profit, this means being involved with all employee classifications within the structure. For non-profit organizations, the CDO will also consider volunteer work. To lay the groundwork for this type of culture within the office, the CDO will work closely with the Chief Executive Officer and, often, with various members of the Board of Directors to implement specific structures and operating procedures that help promote this type of approach. The operating structure should be one that allows the best possible use of the skills of all full-time staff members, finding niche roles that can be competently filled by volunteers, and ensuring that available resources are utilized in the best possible way.
The CDO will also work closely with the organization’s chief financial officer, particularly on the task of understanding the current structured finance outlook for the company. Together, they will look for ways to increase fund generation, evaluating the entire current methodology as it relates to the operating structure. They will also review current marketing and sales efforts and the effectiveness of current procedures in these areas.
In addition to addressing the overall structure of the operation and disclosure efforts, the CDO will also be looking closely at the financials of the company. What is being done with the net income currently generated by the organization? How can this risk transfer principle be used to increase net income within the organization as it stands today? What small changes can be made in the next sixty to ninety days to increase results?
Working with the company’s directors, the CDO will usually be called upon to take the very broad goals that are on the minds of senior management and the executive structure and turn them into measurable action items aimed at achieving those goals. As part of this process, the CDO will interact with others to narrow the focus on goals and then review each process within the operational framework. At each process level, there will be something that can contribute to meeting these goals. The CDO will identify these steps, prepare procedures for each level of company involvement, and ensure they are understood and implemented.
The use of the word “development” in the CDO title is the real key to the tasks involved with this position. Always looking to make the organization bigger and better, as well as helping to ensure that the company is operating as efficiently as possible, especially in the area of resource utilization, the CDO makes a real difference to the success of the organization for years to come.
Asset Smart.
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