Final answer:
Effective nonprofit CEOs are marked by their willingness to share leadership and engage in strategic planning. They encourage teamwork and are open to input from all organizational levels and external investors to steer the organization toward success. Option b.
Step-by-step explanation:
Crutchfield and Grant have identified effective nonprofit CEOs as those who share leadership (b) with others rather than manage their organizations as closed systems. Nonprofit organizations (NGOs) often face the challenge of constantly seeking and applying for funding, which can distract from focusing on program objectives and community needs. Part of effective leadership in NGOs involves a shift away from traditional organizational hierarchies towards a more team-oriented approach, where feedback is sought across all levels of an organization, fostering a more collegial relationship among co-workers. At the same time, as NGOs establish their strategies and become more known, they attract outside investors like bondholders and shareholders, who are willing to provide financial capital based on available information about the company's performance rather than the personal knowledge of individual managers. This shift evidences the need for strategic planning and openness to input from various sources, including those outside of the CEO's expertise.