| |
|
Empowered Community |
| |
|
|
| |
| SOCIAL ENTERPRISES |
| |
|
Social enterprises exist to deliver value to society. Given their unique nature and diverse objectives, social enterprises face a strong challenge in communicating with their stakeholders. The recent spate of incidents involving the controversial usage of funds among not-for-profit organisations have put social enterprises under close public scrutiny in their financial management and fund-raising activities. A structured and systematic framework needs to be established to ensure that accountability and integrity issues are addressed. This way, stakeholders can then be convinced that a social enterprise’s surpluses are reinvested in activities in line with its mission. At the same time, social enterprises need to pursue innovative strategies so as to ensure that income is sustainable to support their activities.
|
| |
|
These are areas where we can assist social enterprises. Our vast experience of working with business enterprises from SMEs to larger corporations and close ties with leading industry organisations have allowed us to come up with new and innovative frameworks for the challenging operations of today’s social enterprises. Our advisory services for enterprises take a three-pronged approach.
|
| |
| |
| Strategic Management |
| |
| Social enterprises have noble visions and missions. It is important that these broad objectives are carefully laid out and flexible in responding to the dynamics of the social landscape.
|
| |
| At the strategic management level, we seek to assist social enterprises by/in: |
|
|
Devising a 3-year master plan detailing the organisation’s goals and strategic directions |
|
|
Fine-tuning existing organisational model for the optimisation of operations |
|
|
Forging ties among social enterprises and relevant bodies for possible collaborations |
|
|
Development and implementation of training programmes for the creation of new social enterprises |
|
|
Project cycle management, e.g. project formulation, monitoring & evaluation |
|
| |
| |
| Fund Raising and Financial Management |
| "Fund raising activities and financial management of Social Enterprises have been under close public scrutiny in the past 2 years." |
| |
|
Fund raising and financial management is probably the most challenging aspect of the operations of a social enterprise. Typically, most social enterprises derive their funds from the public or private donators. A stable cash flow pattern is not guaranteed. Moreover, moral obligations and legal requirements mean that many social enterprises cannot be run like profit-making corporations. In view of the legal and financial constraints most enterprises face, the maximisation of fund usage is critical.
|
| |
| At the fund raising and financial management level, we seek to assist social enterprises by/in: |
|
|
Projection of cash flow patterns |
|
|
Assessing their credit standing and overall financial stability |
|
|
Budgeting for capital expenditures and projects/events |
|
|
Setting targets for the financial aspect of daily operations (e.g. working capital requirements, periodic spending etc) |
|
|
Achieving cost savings through restructuring of organisational model |
|
|
Forging links with financiers for obtaining additional funds |
|
| |
| Stakeholder Communication |
| "Social Enterprises need to adopt a proactive stance in communicating their objectives to relevant stakeholders." |
| |
|
With society paying close attention to their operations and activities, today’s enterprises need to be proactive in communicating with the general public. Effective stakeholder communication enhances an enterprise’s image and facilitates the execution of public projects and fund raising activities as well as the recruitment of passionate and committed staff.
|
| |
|
At the fund raising and financial management level, we seek to assist social enterprises by/in:
|
|
|
Devising a broad framework for key messages and information to be communicated both within the enterprise and with the external stakeholders |
|
|
Providing a platform that allows important messages to be disseminated through the VectorPodcast program |
|
|
Organising management roundtables and press briefings for relevant stakeholders to engage in constructive discussions |
|
|
Identifying potential areas of concerns by relevant stakeholders |
|
|
Proposing solutions to address issues that may arise in the course of operations |
|
| |
| |
| Please click here for
more details |
| |
| |
| |
 |
| |
