Harvard Case - Miracle Mangroves: Funding of Green Shields in the Bay of Bengal
"Miracle Mangroves: Funding of Green Shields in the Bay of Bengal" Harvard business case study is written by Simon Schillebeeckx, Ryan Merrill. It deals with the challenges in the field of Social Enterprise. The case study is 27 page(s) long and it was first published on : Sep 20, 2018
At Fern Fort University, we recommend a multi-pronged approach to secure sustainable funding for Miracle Mangroves, leveraging a blend of social entrepreneurship, impact investing, and strategic partnerships. This strategy will ensure the long-term viability of the organization, enabling it to effectively address the critical environmental challenges facing the Bay of Bengal.
2. Background
Miracle Mangroves is a non-profit organization dedicated to restoring mangrove ecosystems in the Bay of Bengal, a region facing severe environmental degradation due to deforestation, climate change, and unsustainable fishing practices. The organization employs a unique approach by engaging local communities in mangrove planting and conservation efforts, fostering economic opportunities through eco-tourism and sustainable fishing practices.
The case study highlights the organization's successful efforts in restoring mangrove forests and improving the livelihoods of local communities. However, Miracle Mangroves faces a critical funding challenge to scale its operations and achieve its ambitious goals.
3. Analysis of the Case Study
The case study presents a compelling picture of the environmental and social impact of mangrove restoration in the Bay of Bengal. Miracle Mangroves' success can be attributed to its strong commitment to community engagement, sustainable development, and social innovation.
Key Strengths:
- Strong Mission and Vision: Miracle Mangroves is driven by a clear mission to restore mangrove ecosystems and improve the livelihoods of local communities. This strong foundation attracts passionate stakeholders and fosters a sense of purpose within the organization.
- Community-Based Approach: The organization's success hinges on its collaborative approach, empowering local communities to become active participants in mangrove restoration and conservation. This approach fosters a sense of ownership and ensures long-term sustainability.
- Sustainable Business Model: Miracle Mangroves has developed a sustainable business model that generates revenue through eco-tourism and sustainable fishing practices, creating economic opportunities for local communities while protecting the environment.
- Positive Impact: The organization's efforts have demonstrably improved the livelihoods of local communities, reduced poverty, and mitigated climate change impacts.
Key Challenges:
- Limited Funding: Miracle Mangroves faces a significant funding gap to scale its operations and reach its full potential.
- Lack of Diversification: The organization's reliance on a single funding source (government grants) makes it vulnerable to funding fluctuations and policy changes.
- Scaling Challenges: Expanding operations to new areas requires significant investment in infrastructure, training, and community engagement, posing a challenge for a resource-constrained organization.
Framework for Analysis:
To analyze the case study, we employ the Triple Bottom Line framework, which considers the social, environmental, and economic impacts of an organization's activities. This framework helps us assess the effectiveness of Miracle Mangroves' approach and identify areas for improvement.
4. Recommendations
To address the funding challenges and ensure the long-term sustainability of Miracle Mangroves, we recommend the following:
1. Diversify Funding Sources:
- Impact Investing: Attract impact investors seeking to invest in projects with measurable social and environmental returns. Develop a compelling investment case highlighting the project's potential for financial returns and positive social impact.
- Social Impact Bonds: Explore the possibility of issuing social impact bonds, which allow investors to provide upfront capital for the project, with returns contingent on achieving measurable social outcomes.
- Corporate Social Responsibility (CSR) Partnerships: Partner with corporations seeking to invest in environmental sustainability initiatives. Develop tailored CSR programs that align with corporate goals and benefit both the organization and the company.
- Philanthropic Funding: Engage with foundations and high-net-worth individuals interested in supporting environmental conservation and community development initiatives.
2. Enhance Revenue Generation:
- Eco-Tourism Expansion: Develop and promote a range of eco-tourism experiences, including mangrove walks, birdwatching tours, and sustainable fishing expeditions.
- Product Development: Explore opportunities to develop and market eco-friendly products made from mangrove resources, such as sustainable fishing gear, furniture, and handicrafts.
- Carbon Offset Programs: Offer carbon offset programs to individuals and corporations seeking to reduce their environmental footprint.
3. Strengthen Organizational Capacity:
- Strategic Planning: Develop a comprehensive strategic plan outlining the organization's long-term goals, funding strategies, and operational plans.
- Capacity Building: Invest in capacity building initiatives for staff, including training programs in project management, financial management, and marketing.
- Technology Adoption: Leverage technology to improve efficiency, enhance monitoring and evaluation, and engage with stakeholders.
4. Foster Strategic Partnerships:
- Government Agencies: Collaborate with relevant government agencies to secure funding, access technical expertise, and implement policy changes that support mangrove conservation.
- Non-Governmental Organizations (NGOs): Partner with other NGOs working in the region to share resources, leverage expertise, and expand outreach.
- Academic Institutions: Establish partnerships with universities and research institutions to conduct research, monitor project outcomes, and develop innovative solutions.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with Miracle Mangroves' core competencies in community engagement, sustainable development, and environmental conservation.
- External Customers and Internal Clients: The recommendations consider the needs of both external stakeholders, including investors, donors, and beneficiaries, and internal clients, including staff and volunteers.
- Competitors: The recommendations consider the competitive landscape and identify opportunities to differentiate Miracle Mangroves from other organizations working in the region.
- Attractiveness ' Quantitative Measures: The recommendations are based on a comprehensive analysis of the organization's financial needs, potential revenue streams, and social impact metrics.
6. Conclusion
By implementing these recommendations, Miracle Mangroves can secure sustainable funding, expand its operations, and achieve its ambitious goals of restoring mangrove ecosystems and improving the livelihoods of local communities in the Bay of Bengal. This approach will contribute to the long-term sustainability of the organization and its positive impact on the environment and society.
7. Discussion
Other alternatives not selected include relying solely on government grants or seeking large-scale donations from international organizations. These options present significant risks, including dependence on external funding, limited control over project implementation, and potential for short-term funding cycles.
Key assumptions underlying the recommendations include the willingness of investors to invest in social impact projects, the availability of skilled staff and volunteers, and the continued support of local communities.
8. Next Steps
To implement the recommendations, Miracle Mangroves should:
Timeline:
- Year 1: Develop a comprehensive strategic plan, conduct a feasibility study for impact investing, and establish partnerships with key stakeholders.
- Year 2: Launch pilot projects for eco-tourism expansion and product development, and secure initial impact investments.
- Year 3: Expand operations to new areas, build capacity through training programs, and establish a robust monitoring and evaluation system.
Key Milestones:
- Secure a minimum of $1 million in impact investments within two years.
- Increase annual revenue from eco-tourism and product sales by 20% within three years.
- Expand operations to at least two new locations within five years.
By taking these steps, Miracle Mangroves can position itself for long-term success, ensuring the continued restoration of mangrove ecosystems and the well-being of local communities in the Bay of Bengal.
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Case Description
The case captures the story of Worldview International Foundation (WIF), focusing especially in the 2012-2016 period during which the organisation started to restore and develop a mangrove forest in the Bay of Bengal on the west coast of Myanmar. The story focuses on the decision-making processes and choices that WIF's chief executive officer Arne Fjørtoft has to take. In 2012, Fjørtoft secures funding from the Letten Foundation in Norway for a three-year research project in Myanmar on mangrove restoration. While his initial project description was simply to start planting mangrove trees for carbon sequestration, the project was redesigned as a research project to align with the new rules the Letten Foundation had to follow. Fjørtoft decides to embark on a two and a half year journey in order to scale the operation within and beyond Myanmar. For this however, he needs funding. Obtaining that funding is the key objective we focus on. The case ends with the students being presented with three alternative options: (a) Kick-start the collaboration with Alan Laubsch from Lykke on the blockchain cryptocurrency called TREE; (b) Pursue Voluntary Carbon Standard accreditation in the hope that WIF could start selling carbon credits to organisations globally; (c) Try another grant application to either the Global Climate Fund or the Norwegian Ministry for Environment and Climate, this time with the help of the United Nations Environment Programme as the accredited agency.
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