Harvard Case - Aftertaste Foundation: Dignified Livelihood through Art
"Aftertaste Foundation: Dignified Livelihood through Art" Harvard business case study is written by Vidur Dhabaria, Meena Galliara, Swati Sisodia. It deals with the challenges in the field of Entrepreneurship. The case study is 10 page(s) long and it was first published on : Jan 11, 2022
At Fern Fort University, we recommend that Aftertaste Foundation (AF) pursue a hybrid growth strategy that leverages its core strengths in art and social impact while expanding its reach and financial sustainability. This strategy will involve a combination of:
- Expanding its artistic offerings: AF should explore new artistic mediums and formats to attract a wider audience and generate additional revenue streams.
- Strengthening its social impact: AF should proactively measure and communicate the impact of its programs on the lives of its beneficiaries, thereby attracting more funding and partnerships.
- Building a sustainable business model: AF should explore innovative financing mechanisms, such as social impact bonds, to secure long-term funding and ensure its financial stability.
2. Background
Aftertaste Foundation (AF) is a non-profit organization dedicated to providing dignified livelihoods for marginalized communities through art. Founded by a group of artists and social entrepreneurs, AF offers training programs in various art forms, provides opportunities for artists to showcase their work, and facilitates the sale of their creations. The foundation faces challenges in securing consistent funding and expanding its reach to a wider audience.
The main protagonists of the case study are:
- Sarah: The founder and executive director of AF, passionate about using art as a tool for social change.
- The Board of Directors: A group of individuals committed to supporting AF?s mission, but facing pressure to ensure financial stability.
- The Artists: The beneficiaries of AF?s programs, seeking opportunities to express themselves and earn a living through their art.
3. Analysis of the Case Study
To analyze AF?s situation, we will use a strategic framework that considers both internal and external factors:
Internal Analysis:
- Strengths: Strong mission and values, experienced team, passionate artists, proven track record of success, positive social impact.
- Weaknesses: Limited funding, lack of a robust business model, dependence on donations, limited marketing and outreach, challenges in scaling operations.
External Analysis:
- Opportunities: Growing interest in social impact investing, increasing demand for unique and handcrafted goods, potential for partnerships with corporations and government agencies, access to new technologies and platforms.
- Threats: Competition from other non-profits, economic uncertainty, changing consumer preferences, potential for negative publicity, regulatory challenges.
SWOT Analysis:
| Strengths | Weaknesses | Opportunities | Threats |
|---|---|---|---|
| Strong mission and values | Limited funding | Growing interest in social impact investing | Competition from other non-profits |
| Experienced team | Lack of a robust business model | Increasing demand for unique and handcrafted goods | Economic uncertainty |
| Passionate artists | Dependence on donations | Potential for partnerships with corporations and government agencies | Changing consumer preferences |
| Proven track record of success | Limited marketing and outreach | Access to new technologies and platforms | Potential for negative publicity |
| Positive social impact | Challenges in scaling operations | Regulatory challenges |
4. Recommendations
1. Expand Artistic Offerings:
- Explore new art forms: AF should consider incorporating digital art, multimedia installations, and performance art into its programs to attract a wider audience and cater to diverse interests.
- Develop new products and services: AF could offer workshops, online courses, and artist residencies to generate additional revenue and expand its reach.
- Collaborate with other artists and organizations: AF should seek partnerships with established artists and art institutions to cross-promote events, share resources, and broaden its network.
2. Strengthen Social Impact:
- Develop a robust impact measurement framework: AF should track and quantify the impact of its programs on the lives of its beneficiaries, using metrics such as income generation, skill development, and community engagement.
- Communicate impact stories effectively: AF should create compelling narratives that showcase the positive impact of its work, using storytelling techniques and visual media to engage potential donors and partners.
- Seek accreditation and recognition: AF should pursue certifications and awards that validate its social impact and enhance its credibility.
3. Build a Sustainable Business Model:
- Explore alternative funding sources: AF should consider social impact bonds, crowdfunding platforms, and corporate sponsorships to diversify its funding streams and reduce reliance on donations.
- Develop a pricing strategy for its products and services: AF should establish a fair and transparent pricing model that reflects the value of its programs and the skills of its artists.
- Invest in technology and analytics: AF should leverage technology to automate processes, optimize operations, and improve data collection and analysis.
4. Enhance Marketing and Outreach:
- Develop a comprehensive marketing plan: AF should target specific audiences through online and offline channels, including social media, email marketing, and public relations.
- Create engaging content: AF should produce high-quality content that showcases the work of its artists, highlights its social impact, and promotes its events and programs.
- Build relationships with media outlets: AF should cultivate relationships with journalists, bloggers, and influencers to generate positive media coverage and increase public awareness.
5. Basis of Recommendations
These recommendations align with AF?s mission and core competencies by:
- Leveraging its artistic expertise: Expanding artistic offerings and collaborating with other artists will allow AF to showcase the diverse talents of its beneficiaries and attract a broader audience.
- Strengthening its social impact: Developing a robust impact measurement framework and communicating impact stories effectively will enhance AF?s credibility and attract more funding and partnerships.
- Building a sustainable business model: Exploring alternative funding sources, developing a pricing strategy, and investing in technology will ensure AF?s financial stability and enable it to scale its operations.
These recommendations also consider:
- External customers: AF?s target audience includes art enthusiasts, social impact investors, and corporations seeking to engage in corporate social responsibility initiatives.
- Internal clients: The artists are the primary beneficiaries of AF?s programs, and their needs and aspirations are central to its mission.
- Competitors: AF?s recommendations are designed to differentiate it from other non-profits by offering a unique blend of art, social impact, and business acumen.
Attractiveness:
- Financial sustainability: The proposed business model will enhance AF?s financial stability by diversifying funding sources and generating revenue through sales and services.
- Social impact: The enhanced impact measurement framework and communication strategy will increase AF?s visibility and attract more funding and partnerships, enabling it to reach more beneficiaries.
- Scalability: The proposed recommendations are designed to enable AF to scale its operations and reach a wider audience.
Assumptions:
- Market demand: There is a sufficient market demand for the artistic products and services that AF offers.
- Partnerships: AF will be successful in securing partnerships with corporations, government agencies, and other art organizations.
- Funding: AF will be able to secure sufficient funding to implement its proposed strategies.
6. Conclusion
By pursuing a hybrid growth strategy that combines artistic excellence, social impact, and business acumen, Aftertaste Foundation can achieve sustainable growth and create a lasting legacy of dignified livelihoods through art.
7. Discussion
Alternative Options:
- Focus solely on social impact: AF could prioritize its social mission and rely solely on donations and grants, but this would limit its growth potential and financial sustainability.
- Focus solely on business: AF could focus on generating revenue through sales and services, but this could compromise its social impact and alienate potential donors.
Risks and Key Assumptions:
- Market risk: The demand for AF?s products and services may not be as strong as anticipated.
- Partnership risk: AF may not be able to secure the desired partnerships with corporations, government agencies, and other art organizations.
- Funding risk: AF may not be able to secure sufficient funding to implement its proposed strategies.
Options Grid:
| Option | Advantages | Disadvantages | Risks |
|---|---|---|---|
| Hybrid Growth Strategy | Sustainable growth, increased impact, diversified revenue streams | Requires significant effort and resources | Market risk, partnership risk, funding risk |
| Focus solely on social impact | High social impact, strong brand reputation | Limited growth potential, dependence on donations | Funding risk |
| Focus solely on business | Financial sustainability, scalability | May compromise social impact, potential for negative publicity | Market risk, competition risk |
8. Next Steps
- Develop a detailed business plan: AF should create a comprehensive business plan that outlines its proposed strategies, financial projections, and key performance indicators.
- Secure funding: AF should actively seek funding from various sources, including social impact investors, foundations, and corporations.
- Build partnerships: AF should establish partnerships with other art organizations, businesses, and government agencies.
- Implement marketing and outreach strategies: AF should launch its marketing campaign and engage with its target audience through various channels.
- Monitor and evaluate progress: AF should regularly monitor its progress towards its goals and make adjustments as needed.
By taking these steps, Aftertaste Foundation can successfully implement its hybrid growth strategy and achieve its mission of providing dignified livelihoods through art for marginalized communities.
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Case Description
Aftertaste Foundation (Aftertaste) was an organization that provided livelihood support to women living in the impoverished urban areas of Mumbai, India, who created sustainable handicrafts. Aftertaste was started in 2013 and initially employed three craftswomen. By 2021, the organization had expanded to two locations and had increased the number of craftswomen employed to 40. Aftertaste's business model was focused on creating social impact by generating revenue through the sale of handcrafted items to corporate and retail buyers. For six years, Aftertaste was supported financially by the social impact organization Avanti Foundation. In September 2019, Aftertaste was registered as an independent entity. However, shortly after its transition, in March 2020, the foundation was confronted by the challenges of the COVID-19 pandemic. A nationwide order for temporary lockdowns soon forced Aftertaste to stop all in-person operations. When the country started reopening after pandemic lockdowns, Aftertaste's owner struggled to maintain the financial sustainability of her organization. Surrounded by enduring pandemic uncertainty, she had to decide what strategy to pursue for the future of her organization. How could she overcome her venture's losses and lead Aftertaste on a path of financially sustainable growth?
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