Business professional Practice

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Nov 24, 2024

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Introduction Proper planning and cash management ensure that business funds do not waste on initiatives with poor investment returns. most contemporary business ideas are never funded, not necessarily for lack of profitability potential but due to poor planning. For example, if the business or project idea seems to risk or the applicant has a poor credit score, investors and lenders won't provide funding. Therefore, there is a need for proper examination and research on a project before summiting it for funding.
Objective The Fundamental purpose of this research is to provide a 10 minutes client feedback presentation on the YMCA Newcastle and Mushroom project. The presentation extensively analysis the cases and provides viable recommendation on the funding of the project.
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YMCA Newcastle YMCA Newcastle is an independent charity organization supporting children and young people aged between 11-25 years. YMCA Newcastle provides the resources, opportunity, and support for young people to overcome and address the modern challenges they face. The services they provide to the youth include training, Work, Employability, support, advice, and information.
Urban Mushrooms Urban Mushroom is part of wider food security and local food movement. It is one of the leading urban mushroom farms in different parts of the world (ymcanewcastle.com, 2021). Urban mushrooms operate in Basel, Switzerland, United Kingdom, United States, Rotterdam, and Australia.
Overview of the Project After a successful piloting phase, YMCA Newcastle considers taking urban mushrooms to the next level. The organization wants to create a fit- purpose mushroom farm, case, shop and visiting engagement.
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Need For more funding With this growth, the business will deliver up to 8 additional full-time, certified training and job opportunities to Newcastle's most vulnerable young people. Urban Mushrooms helps young people in Newcastle tackle adversity, gain job experience, receive ongoing employability support, and earn a living by combining accreditation, work experience, ongoing employability support, and the provision of a stipend (ymcanewcastle.com, 2021).
Other youth development Projects One of the things that do youth empowerment projects so special is how they inspire young people to give back to their communities (Sprague et al., 2018). These freely elected communities of funded youth are brimming with potential leaders. They collaborate with the programs to plan community building and outreach events.
Examples of Other Youth Development Projects Some of the youth development projects include: Public illumination project in San Pedro Sula, Honduras Community care kits in Little Rock, Arkansas Family and school gardens in Guatemala City, Guatemala
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Public illumination project in San Pedro Sula, Honduras In 2017, the youth of San Pedro Sula was kept occupied (Fernandez, 2017). They achieved the following through the Public Illumination Project: Installed six street lamps Built two bus stops They educated their peers about personal security and hygiene issues.
Community care kits in Little Rock, Arkansas As a result, Kelli organized a campaign to build care packages (Ashley, 2015). Teens used funds from the Youth Empowerment Fund and a grant from Disney Friends for Change to make kits that included: Hand sanitizers Handkerchiefs Toothpaste and soap Brushing teeth Snacks deodorant Disinfectant wipes
Family and school gardens in Guatemala City, Guatemala This project taught the youth that it is possible to organize yourself and divide your time equally (Ashley, 2015). Although they were in their final year of school, they still had time to tend to the farm, attend training, and harvest vegetables. They learned to value my project colleagues' skills.
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Lessons Learned Youth Programs and the management of the funds from the analyzed cases offer several lessons that can shape YMCA Newcastle Mushroom Project. They include: Consider the community's needs. Participate in in-group events with other young people. Examine and choose ideas. Jobs should be planned, implemented, and evaluated.
Products and services The YMCA Newcastle project produces four Oyster mushrooms, including grey, pearl, white, and yellow (Henderson, 2019). Each Oyster Mushroom has its taste and texture. These products and services are solid to the city restaurants and venues such as the Tyneside Cinema.
Advantages of Investing in the Project Job Opportunities for the Youth Work Experience for the Youth Increase in Production Fill the Gap in Funding
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Job Opportunities for the Youth If the YMCA Newcastle Mushroom Project is a success, the project's funding can be used to provide more jobs and training opportunities for the young people in Newcastle (Cairns, 2021). The funding of the project can also be used in buying equipment in the mushroom farms and thus creating a more growing space. it will increase the production of the project out of the farm.
Work Experience for the Youth The project involves the young people in Newcastle that are furthest away from the jobs market (Brooker, 2017). It gives them work skills and experience, which is necessary for the contemporary working environment. This boosts their confidence and increases their employment chances .
Increase in Production Currently, the firm produces 6Kgs of mushrooms per week. Therefore, the funding would lead to a significant increase in the production of the Mushrooms. This will enable the business to meet the current market demand (Christophers, 2019).
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Fill the Gap in Funding There is a need to fill the funding gap at the YMCA Newcastle Mushroom project. The project lost 50% of its financing in 2016 after cutting government-funded programs for young people. Therefore, more funding and investment in the project will help in realizing the project objectives.
Potential Investors The Potential investors for the project include: The Eagles Community Foundation Social Investment Business Group Sage Foundation
Attracting the Investors Small public charity programs are finding it more difficult to gain recognition and collect money these days (Li & Wang, 2019). Social networking is a tried and true method for building community, engaging and activating the audience. The project managers Speak directly to those who are most interested in the youth development project. They will be at a disadvantage to rivals that are more involved on social media if you have a poor digital profile.
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Winning needs a strategic strategy. Recognize how conventional roadshows, investor calls, and shareholder meetings have converged with digital marketing the Project blueprint is a strong digital marketing plan (Banchuen, Sadler & Shee, 2017). They should use it as a GPS to direct as much traffic to their online assets as possible
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Recommendations Mushroom cultivation is a dependable and efficient way for resource- constrained farmers to produce nutritious food in a short amount of time. It also allows for the production of a highly tradable commodity, which contributes to income generation. This segment provides some ideas on how small-scale farmers can find buyers and then supply them with reliable, high-quality produce. Here are the key recommendation that can make the YMCA Newcastle Mushroom Project Successful
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Channels of distribution For mushroom growers, there is usually the main marketing route. The YMCA Newcastle project may sell directly to customers at the farm gate or local markets. However, the capacity to enter distant markets is restricted (Tamilia, 2019).
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Strategies for marketing Farmer’s income status improves because of an effective marketing campaign, which builds trust in their ability to grow mushrooms profitably (Parola et al., 2019). Therefore, the YMCA Newcastle Project Managers should adopt a robust marketing strategy
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Preparation Mushrooms are typically eaten fresh, but this can be not easy since most species should be consumed within three to four days of harvesting to prevent spoilage (Subramaniam et al., 2021). Therefore, YMCA Newcastle Project Managers should Harvest and distribute to an end-user, local market, or regional wholesaler on the same day, where infrastructure permits, guarantees a better price.
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Education, business skills, and a willingness to take risks Education, entrepreneurial experience, and a willingness to take chances are all essential considerations (Darmanto & Yuliari, 2018). Education is generally recognized as a key factor in deciding people's ability to participate in income- generating activities, and it can have a major effect on mushroom cultivation success. Simple bookkeeping and numeracy skills are often needed for trading beyond a local level.
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References Ashley, p. (2015). 5 successful youth projects from 2014 that will impress you | Children International | Global Charity . Children International. Retrieved 6 April 2021, from https://www.children.org/stories/2016/march/5-successful-youth-projects-from-2014-that-will-definitely-impress-you . Banchuen, P., Sadler, I., & Shee, H. (2017). Supply chain collaboration aligns order-winning strategy with business outcomes. IIMB management review , 29 (2), 109-121. Brooker, J. (2017). Youth work education: A look at international youth work education programs from Australia, Canada, New Zealand, the United Kingdom, and the USA. Journal of Applied Youth Studies , 2 (1), 43. Cairns, D. (2021). Mobility Becoming Migration: Understanding Youth Spatiality in the Twenty-First Century. The Palgrave Handbook of Youth Mobility and Educational Migration , 17.
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Christophers, B. (2019). The rentierization of the United Kingdom economy. Environment and Planning A: Economy and Space , 0308518X19873007. Darmanto, S., & Yuliari, G. (2018). Mediating role of entrepreneurial self-efficacy in developing entrepreneurial behavior of entrepreneur students. Academy of Entrepreneurship Journal , 24 (1), 1-14. Fernandez, M. V. (2017). Application of Passive Design Strategies for New Low-Income Affordable Housing Developments in San Pedro Sula, Honduras (Doctoral dissertation, The University of Arizona). Hassan, M. K., & Ashraf, A. (2010, January). An integrated poverty alleviation model combining zakat, awqaf, and micro- finance. In Seventh International Conference–The Tawhidic Epistemology: Zakat and Waqf Economy, Bangi, Malaysia (pp. 261-281). Henderson, T. (2019). Waste food projects can be a growth industry if it wins the race for new funding . ChronicleLive. Retrieved 6 April 2021, from https://www.chroniclelive.co.uk/news/north-east-news/waste-food-project-can-growth-16117967
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Kerzner, H. (2017). Project management: a systems approach to planning, scheduling, and controlling . John Wiley & Sons. Li, G., & Wang, J. (2019). Threshold effects on backer motivations in reward-based crowdfunding. Journal of Management Information Systems , 36 (2), 546-573. Parola, F., Pallis, A. A., Risitano, M., & Ferretti, M. (2018). Marketing strategies of Port Authorities: A multi-dimensional theorization. Transportation Research Part A: Policy and Practice , 111 , 199-212. Sprague Martinez, L., Richards-Schuster, K., Teixeira, S., & Augsberger, A. (2018). The power of prevention and youth voice: A strategy for social work to ensure youths’ healthy development. Social Work , 63 (2), 135-143. Subramaniam, S., Jiao, S., Zhang, Z., & Jing, P. (2021). Impact of post‐harvest processing or thermal dehydration on physiochemical, nutritional and sensory quality of shiitake mushrooms. Comprehensive Reviews in Food Science and Food Safety .
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Tamilia, R. D. (2019). History of Channels of Distribution and Their Evolution in Marketing Thought. In Proceedings of the Conference on Historical Analysis and Research in Marketing (pp. 120-138). ymcanewcastle.com. (2021). Home - YMCA Newcastle . YMCA Newcastle. Retrieved 6 April 2021, from https://ymcanewcastle.com/ . ymcanewcastle.com. (2021). Urban Mushrooms - YMCA Newcastle . YMCA Newcastle. Retrieved 6 April 2021, from https://ymcanewcastle.com/urbanmushrooms/#:~:text=Urban%20Mushrooms%20represents%20a%20c ollective,market%20in%20the%20local%20community .
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