Strategy Formulation United Way - Essay Example

Strategy formulation United way Table of Contents Strategy formulation United way Table of Contents 2 Introduction 3 Alternative Strategies 3 Macroeconomic Condition 3 Image of the Company 4 Aspects of Corporate Governance 4 Business Leadership 5 Competition from Other Organizations 5 Recognition of the Brand 5 References 6 Introduction United Ways is an American social service organization established in 1887 that acts as charitable organization for collecting money to be donated towards charitable purposes (United Ways-a, 2011).

The aims of the organization include improvements in education, promotion of financial stability y and the general welfare of the society (United Ways, 2011). Alternative Strategies United ways faces certain challenges in the present day. These challenges include the macroeconomic condition, the image of the company, aspects of corporate governance and business leadership, competition from other organizations as well as recognition of the brand. Two possible strategies for United Ways would include an integrated marketing communication strategy and a control and monitoring mechanism in the area of corporate governance that would involve appointment of independent auditors as well as implementation of strict code of conduct.

The following sections would largely show how these two strategies could be used to counter the issues faced by the organization. The issues and advantages for the two strategies would be specifically analyzed in the following sections. Macroeconomic Condition The recent financial crisis had a major impact on the accessibility of funds as disposable income dried up following job cuts. It was becoming difficult for United Ways to sustain itself in the market. Certain alternative strategies for the organization would include going international and seeking funds from across the world.

The company could use Americans living in other nations to generate funds for the organization in nations where the effect of financial crisis is less severe (Norris, 2007, p.218-220). In addition to this the organization should also use an integrated marketing communication strategy based on social networking and internet to raise funds from international sources. However access to foreign funds would perhaps require more expenditure however this should be taken as a long term strategy that would ultimately benefit the organization.

Image of the Company The image of United Ways took a beating following the cases of fund misuse by the members of the top management including the CEO and CFO who were later arrested and asked to leave the organization. The misuse of funds made a severe impact on the positioning of the organization. In order to improve it’s positioning among the members of the target market audience the organization should undertake greater control and monitoring in the organization and undertake proper auditing.

A new marketing campaign should be launched covering all major channels to highlight the lean image of the organization (Dahlen, Lange & Smith, 2009, p.188). Marketing campaigns require access to funds which is an issue for the organization however using credits finance this aspect can reap long term benefits for the firm. Aspects of Corporate Governance Corporate governance issues in the organization started when the top management uses improper financial disclosures to siphon off funds from the organization.

In order to improve upon the corporate governance, the organization must adhere very strictly to the codes of conduct and should also appoint independent auditors and independent directors on board to help motor the aspects of corporate governance (Rashid & Islam, 2008, p.17). The challenges in this strategy would include bearing the burden of excess cost and the nature of impartiality of the auditors however strict vigilance and commitment by top management should reap benefits for the organization.

Business Leadership United Ways should appoint a leader who has vision and has proven track records. This would ensure that employees are motivated as leader largely provides direction and acts as a visionary for the organization. Issues in this regard may range from the fact that considering the poor positioning of the firm people may not be willing to join. Hence an internal person should be chosen for the job in consultation with others. Competition from Other Organizations United ways faces competition mainly from sources like cause based organizations as well as the growing perception of individuals to support specific ‘cause’ based charitable organizations.

In this regard United Ways can form different units that are devoted towards specific causes. Management issues like integration may pose to be a problem however this would help in attracting greater number of individuals to the organization. Promotional campaigns must also be launched specially through online channels including social networking sites. These sites have tremendous reach and potential and can be used for generating competitive advantage (Parker, 2010, p.2). Recognition of the Brand In order to improve the brand image the company must first undertake a cleanup campaign within the organization that would include using best practices of corporate governance and a visionary leadership that can steer the company out of its troubles and generate a good image of the organization.

It should also use its partners including national football league to help improve its brand image in the market. References Dahlen, M., Lange, F. & Smith, T. (2009). Marketing Communications: A Brand Narrative Approach. John Wiley and Sons. Norris, D.F. (2007). Current issues and trends in e-government research. Idea Group Inc. Parker, C. (2010). 301 Ways to Use Social Media To Boost Your Marketing. McGraw-Hill Professional. Rashid, K. & Islam, S.M.N. (2008). Corporate governance and firm value: econometric modelling and analysis of emerging and developed financial markets.

Emerald Group Publishing. United Ways. (2011). Mission and Goals. Retrieved June 24, 2011 from http://liveunited.org/pages/mission-and-goals/. United Ways-a. (2011). History. Retrieved June 24, 2011 from http://liveunited.org/pages/history/.