In the current circumstances, the Algoma Multicultural Centre is in an unstable position to continue operating in the market. AMC does not have sufficient funding, lacks advertisement tools, and cannot receive support from the federal government and the insurance for the organization. The present drawbacks put a serious strain on the potential of AMC as a business group but can be resolved through detailed planning and analysis of the workflow. The current memorandum provides recommendations for short-term and long-term perspectives.
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The first step for AMC as an organization is to analyze the current market of multicultural guidance. Due to the restricted funding and lack of personnel, AMC could convince the students from Algoma University to provide assistance on the matter. With the detailed statistics of immigrant inflow, the services that they require, and the analysis of the competitors, it is possible to commence working on long-term goals.
Having the initial objective in mind, it is crucial that the Algoma Multicultural Centre puts effort into the marketing plan. It does not necessarily have to be costly since there is much room for development. For instance, AMC could request assistance in the translation of the website to target languages from the linguistic faculties of Algoma University. Students are frequently eager to help since they require experience in the working field. Furthermore, engaging with scholars would promote the growth of AMC as a multicultural centre since there is a sufficient number of foreign students in the university. Social networks, the establishment of the logo, conduction of workshops and seminars – all these activities do not require sufficient funds but are also efficient to increase the influence of the organization.
With the growing reputation of AMC, it would be possible to request funding and apply for insurance. The current direction of the Algoma Multicultural Centre is generally correct since the two main priorities are funding and reputation. AMC should utilize all the potential social connections to obtain the initial finances that would allow to further increase the impact of AMC in the region. If the organization can achieve the financial goals in the first year, it would become significantly easier for AMC to develop as a business group in the long term.
Control and Feedback
It is essential to monitor all the activities of the Algoma Multicultural Centre and constantly analyze the results. The treasurer should keep a constant track of the financial management of the organization and provide reports for examination. Furthermore, AMC needs to implement a better system of reviews from the customers. Receiving and analyzing feedback from the clientele base is crucial to develop effective business plans. In addition, positive reviews might provide a powerful impact on the reputation of the Algoma Multicultural Centre.
The key risks of the development plan are to be considered in order to minimize the potential financial and reputation losses. A comprehensive contingency plan should comprise the primary scenarios and triggers that could affect the business in a negative way. The major danger concerns the funding and the lack of possible sponsors that are ready to invest in the loss-making organization. As for the response to this risk, AMC needs to engage in more free-of-charge activities, improve the corporate image, and gain the trust of potential sponsors. This could only be achieved via the active and grant work of all the members of the organization.