This organisation cannot be used for Introduction to Entrepreneurship
(MGMT2224) Group or Individual Assignment
Rita
Marley
FOUND
ATION
Haramble Means Working
Together, Pulling
Together in one love,
Peace & Harmony
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BUSINESS SAMPLE TO KEEP YOU ON TRACK, Study Guides, Projects, Research of Business Strategy
BUSINESS GUIDE FOR MAKING A GREAT BUSINESS
Typology: Study Guides, Projects, Research
2018/2019
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This organisation cannot be used for Introduction to Entrepreneurship
(MGMT2224) Group or Individual Assignment
Rita
Marley
FOUND
ATION
Haramble Means Working Together , Pulling Together in one love, Peace & Harmony
Business overview The Rita Marley Foundation is a non-government organization that deals with the development of developing and undeveloped countries, founded in Ghana in 2000 by Rita Marley. While most charity foundations focuses on the development of specific areas such as infrastructure or education, the Rita Marley Foundation aims at incorporating various aspects of charity aimed towards the alleviation of poverty for people of developing and less developed countries particularly, the Foundation has highlighted the struggles faced due to limited resources in Jamaica and Ghana and other territories in relation to other nations on a world scale. The Foundation aims mainly to eradicate poverty and hunger in specific selected communities using as its tools: empowerment of those communities through the creation of economic investments, improvement of educational opportunities and the development of knowledge and proper practice in nutrition and health care. In relation to education, RMF involves itself in Scholarships and fellowships for youth and other qualified individuals to attend academic and/or trade institutions/continuing education activities in the Caribbean, Africa, U.S.A or throughout the diaspora. Infrastructural development is another important aspect of RMF’S mission as it also engages in refurbishing/rebuilding libraries and health care facilities. It organizes programs, concerts, tours, exhibitions and other forms of artistic activities to disseminate the message of peace, justice, equality and human rights. Music can be identified as the ground root of the foundation thus musician play a significant role in the foundation. Indigent musicians are supported through various services; including, access to health care, emergency grants, educational improvement and instrument replacement. The RMF offers support mainly through community, religious and faith-based and/ or private organizations and its goal is to continue to
Component 1: how do we create value? Foundation level Rita Marley foundation is primarily a service company, that’s creates value through customizing various services for persons in need. These services are usually made available through community, religious and faith-based and/ or private organization thus impacting consumers indirectly but will on rare occasions make them available directly to the individual. Services offered includes Scholarships / fellowships for youth and other qualified individuals to attend academic and/or trade institutions/continuing education activities in the Caribbean, Africa, U.S.A or throughout the diaspora. The Foundation will also engage in refurbishing/rebuilding libraries and health care facilities. It will organize programs, concerts, tours, exhibitions and other forms of artistic activities to disseminate the message of peace, justice, equality and human rights. Indigent musicians are supported through various services; including, access to health care, emergency grants, educational improvement and instrument replacement. Proprietary level The Rita Marley foundation has utilized public speaking and essay competitions as a means of fostering intellect and healthy competition between youths and to enhance and distribute its services. Rule level The services provided are maintained by awarding winners of competitions grants and scholarship.
Component 2: Who do you create value for? Foundation level The Rita Marley foundation’s target market consist of under privileged women and children particularly in lower class communities. It operates both locally, here in Jamaica, and international, in places such as Ghana and Ethiopia. Donors are also a part of the target market, as they are essential to the continuation of the business through their funding. The value chain consist of donors who supply funds, the foundation who converts those funds into valuable services/distributes those funds to other social entities such as school, and the final consumers who actually benefit from the services. The market is broad as it encompasses women and children in need spanning over 3 territories. Given the goal of the foundation, to empower youths and elevate the vulnerable, it engages in relational marketing where it places focus on building a relationship with its consumers. Proprietary level Organize and develop policies that are aimed towards reaching our target market in an effective and non-expensive manner. The succession of the organization depends heavily on the maintenance of donations thus the Rita Marley foundation uses its website and other social media platforms to spread its cause and attract such persons. It also issues a quarterly newsletter highlighting its outreach programs so persons are aware of how funds are being used. Rule level Before projects are chosen, the organization looking to partner with the foundation or seeking help from the foundation is required to submit a proposal among other documents where they undergo examination by the board, who then determines if it is a project suitable for the target
Component 4: How do we differentiate ourselves? Foundation level The foundation provides consistency through its annual essay competitions, it has also been operation since 2000 and has successfully assisted schooling facilities and funded the education of youths. Extensive work has been done in Ghana, where the foundation has created employment for hundreds of persons. The foundation has demonstrated quality in its outreach, by supporting promising youths who otherwise would not have been afforded such opportunities. It is also passionate about Africa and giving back to African ancestry as well as building a relationship with the African community. This therefore separates Rita Marley Foundation from other charities as it is also for the preservation of culture. Proprietary level The founder of the foundation, Rita Marley was a prominent musician and as such has used this to gain awareness for the foundation. She has also channeled her passion for music into making the foundation unique by offering assistance to musician through instrument replacement, education improvement etc. She has also creatively organized concerts and tours to spread the message of peace and togetherness. Rule level The foundation will remain different from the other NGO’s. They seek to stick by their word and offer their services at quality standard and in a creative way. This will be done through regular evaluation of their services and the needs of their market.
Component 5: How do we make money? Foundation level The foundation operate on a flexible revenue source as it generates funds through donation from the public, which comes in varying amounts. It has so far been able to meet expenses and efficiently carry out services on a medium scale. The operation leverage can be described as medium because of the variability of funds weighed against yearly obligations. Proprietary level Due to the prominence and esteem surrounding the base of the organization, the founder is able to target and attract particular investors, which often times possess some connection with music or international Negro development. The foundation’s website also provides easy avenue for donation. Rule level The Rita Marley Foundation seeks to maintain its capital by providing services at a low rate and by cautious budgeting. Internal matters are be kept confidential to avoid conflict or withdrawal of the clients and potential clients. ➢ Component 6: What are the entrepreneur’s time, scope and size ambitions? Foundation level The Rita Marley Foundation originally started in Ghana and has since extended to Ethiopia and Jamaica. This is a great achievement and as such the ambition is to sustain the work that it has
The Business Model Matrix Foundation level Proprietorship Level Rules Level Component one: Factors relating to the offerings – How do we create value? Primarily services Some customization Provision of service and access to service as well as bundled with other firm services Indirect distribution through social organizations eg, School/Communities Utilize public speaking and essay competitions. Winners of competitions are awarded grants and scholarship opportunities. Component two: market factors – Who do we create value for? Local and international market. Broad market; women and children in need, as well as donors. Relational Organize and develop policies that are aimed towards reaching our target market. Maintenance of donations using its website and other social media. Prospective projects are required to submit a proposal. Examination by board of prospective projects. Quarterly newsletters highlighting its outreach programs. Component three: internal capability factors: What is our source of competence/advantage? Networking. Founder of the business is business inclined and well known. Select employees with a passion for Africa, good social skills and technologically inclined. Team work among different branches of the foundation. Monthly meetings and evaluations. Component four: competitive strategy factors: How do we differential ourselves? Consistency through annual essay competitions. Quality outreach service Passionate about Africa. Founder is a prominent musician and Rastafarian; used this to gain awareness. Made foundation unique by providing assistance to musicians. Regular evaluation of their service and the needs of their market.
Component five: economic factors: How do we make money? Flexible revenue sources Operating leverage: Medium Donations from the public/ musicians. Confidentiality among investors and foundation. Component six: personal investor factors: what are our time, scope and size ambitions? Growth model Management team stays aware of all the changes. Increase donations. Rate of growth management.