Course Work on Fundraising in the Organization

2021-06-04 04:46:24
2 pages
425 words
University/College: 
University of California, Santa Barbara
Type of paper: 
Course work
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With respect to the information that I have, there are myriad directions that I would recommend Chesca Colloredo Mansfeld take when it comes to fundraising in the organization. It is my opinion that she adopts the new method of fundraising, i.e., the retail option. The retail option is much expensive but is more secure because it comes with a larger pool of financial resources. All the same, in as much as the adaptation of the retail option, would be good for the company, the dependence on high net-worth individuals should not be an option that is done away with because it has been the main funding method that has kept the company functioning over the years.

To realize all the above-mentioned approaches, there is a need for MiracleFeet to create awareness of the job it is doing through marketing and advertisements. When the world at large becomes aware of what the organization is doing to change lives, there will be a lot of compassion at play; this will make it easier for managers of the organization to get funding from well-wishers who would be moved and want to make a difference in the life of a child. The marketing methods used could include viral marketing and cause marketing.

Selling miraclefeet brace would not be a good idea in as much as the company is looking to locate funds from every corner. All the same cost recovery from clients would not be so bad. As aforementioned the focus on high net worth donors and aiming for a large number of smaller donors would be a good ideal; there should be no discrimination between the funding methods as all of them would do MiracleFeet a lot of good.

Question Three

The implementation issues revolving around the adoption of these two funding methods include the need to increase the number of staff managing the bookkeeping of funds. This is because, with new sources of income, there would be a need to differentiate all the donor pools and also the working out of new distribution channels for the funds. Some of the implementation issues that I foresee with your recommendations in the previous questions around the need to prepare all the organizations clubfoot clinics all over the world with respect to the new funding programs; train employees on how to handle new revenue streams; make sure there is a relevant technological structure to handle the new funding changes and finally for the management to avoid backsliding by means of coming up with ongoing institutional commitment to the redesign.

 

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