Harvard Case - Edmonton Community Foundation: Time for the Millennials?
"Edmonton Community Foundation: Time for the Millennials?" Harvard business case study is written by Bonita Russell, Bronwen Russell. It deals with the challenges in the field of Strategy. The case study is 11 page(s) long and it was first published on : May 17, 2022
At Fern Fort University, we recommend that the Edmonton Community Foundation (ECF) adopt a multi-pronged strategy to engage Millennials and ensure their long-term participation in philanthropy. This strategy should focus on building a strong online presence, leveraging digital platforms for fundraising and engagement, and developing innovative programs that resonate with Millennial values.
2. Background
The Edmonton Community Foundation is a non-profit organization dedicated to improving the lives of Edmontonians through grantmaking and community leadership. The case study highlights the ECF's challenge in attracting and engaging Millennials, a demographic known for their strong social consciousness and preference for digital platforms. The ECF needs to adapt its approach to philanthropy to resonate with this generation and secure their future support.
The main protagonists of the case study are:
- The Edmonton Community Foundation (ECF): A non-profit organization with a long history of philanthropy in Edmonton.
- Millennials: A generation born between the early 1980s and the late 1990s, known for their digital fluency, social consciousness, and preference for transparency.
3. Analysis of the Case Study
This case study can be analyzed using a framework that considers both internal and external factors impacting the ECF's ability to engage Millennials.
Internal Analysis:
- SWOT Analysis:
- Strengths: Strong community reputation, established infrastructure, access to resources, and a diverse portfolio of programs.
- Weaknesses: Lack of digital fluency, limited understanding of Millennial values, and a traditional approach to philanthropy.
- Opportunities: Leverage technology for fundraising and engagement, create innovative programs that align with Millennial interests, and build a strong online presence.
- Threats: Competition from other non-profits, changing donor demographics, and evolving technology landscape.
- Core Competencies: The ECF's core competencies lie in grantmaking, community leadership, and building relationships with donors. However, these competencies need to be adapted to attract and engage Millennials.
- Value Chain Analysis: The ECF's value chain needs to be re-evaluated to incorporate digital platforms, online fundraising, and innovative program development.
External Analysis:
- Porter's Five Forces:
- Threat of New Entrants: High, due to the ease of setting up online fundraising platforms and the growing number of non-profits targeting Millennials.
- Bargaining Power of Buyers: Moderate, as Millennials have diverse philanthropic interests and can choose from various organizations.
- Threat of Substitute Products: High, as Millennials can choose to donate their time, skills, or resources to other causes.
- Bargaining Power of Suppliers: Low, as the ECF relies on donors and volunteers, who have limited bargaining power.
- Competitive Rivalry: High, due to the increasing number of non-profits competing for Millennial donations.
- PESTEL Analysis:
- Political: Government policies and regulations related to non-profits and philanthropy.
- Economic: Economic conditions and trends impacting donor behavior.
- Social: Changing social values and attitudes towards philanthropy, particularly among Millennials.
- Technological: Advancements in technology and digital platforms, providing new opportunities for fundraising and engagement.
- Environmental: Growing awareness of environmental sustainability and its impact on philanthropic choices.
- Legal: Legal framework governing non-profit organizations and fundraising practices.
- Industry Analysis: The non-profit sector is undergoing rapid change, driven by technological advancements, shifting donor demographics, and increasing competition. The ECF needs to adapt to these changes to remain relevant and attract Millennial donors.
4. Recommendations
The ECF should implement the following recommendations to engage Millennials and secure their long-term support:
1. Digital Transformation:
- Develop a robust online presence: Create a user-friendly website and social media accounts that resonate with Millennials, showcasing the ECF's impact and highlighting its commitment to social good.
- Embrace digital fundraising: Utilize online platforms like crowdfunding and peer-to-peer fundraising to engage Millennials and make donating easier.
- Leverage data analytics: Track online engagement and donor behavior to tailor communication and fundraising efforts.
2. Innovative Program Development:
- Create programs aligned with Millennial values: Focus on issues like climate change, social justice, and mental health, which are important to Millennials.
- Develop collaborative partnerships: Partner with organizations that appeal to Millennials, such as tech startups, social enterprises, and community initiatives.
- Offer flexible giving options: Provide options for recurring donations, volunteer opportunities, and skills-based giving to cater to Millennial preferences.
3. Enhance Transparency and Communication:
- Be transparent about impact: Clearly communicate the impact of the ECF's programs and how donations are used.
- Engage with Millennials directly: Host events, workshops, and online forums to connect with Millennials and understand their perspectives.
- Utilize storytelling: Share compelling stories of beneficiaries and the impact of the ECF's work.
4. Foster a Culture of Innovation:
- Encourage experimentation: Embrace new ideas and approaches to fundraising and engagement.
- Develop internal expertise: Train staff on digital marketing, social media, and online fundraising strategies.
- Promote a culture of learning: Encourage continuous learning and adaptation to keep pace with changing trends.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of the ECF's internal and external environment, considering the following:
- Core competencies and consistency with mission: The recommendations build upon the ECF's existing strengths in grantmaking, community leadership, and relationship building while adapting them to the needs of Millennials.
- External customers and internal clients: The recommendations address the needs of Millennial donors while also engaging existing donors and internal stakeholders.
- Competitors: The recommendations aim to differentiate the ECF from other non-profits by focusing on digital engagement, innovative program development, and transparency.
- Attractiveness: The recommendations are expected to increase donor engagement, expand the donor base, and ultimately enhance the ECF's impact.
6. Conclusion
The Edmonton Community Foundation has a unique opportunity to engage Millennials and secure their long-term support by embracing digital transformation, developing innovative programs, and fostering a culture of innovation. By adapting its approach to philanthropy and embracing the values and preferences of this generation, the ECF can ensure its continued relevance and impact for years to come.
7. Discussion
Alternatives:
- Maintain the status quo: This option would likely result in a decline in donor engagement and financial support as Millennials continue to seek out organizations that align with their values and preferences.
- Focus solely on traditional fundraising methods: This approach would fail to attract Millennials, who are increasingly reliant on digital platforms for information and engagement.
Risks:
- Technological obsolescence: Failure to keep pace with technological advancements could result in a loss of relevance and donor engagement.
- Lack of internal expertise: Insufficient training and development could hinder the ECF's ability to implement digital strategies effectively.
- Resistance to change: Internal resistance to change could impede the implementation of new programs and approaches.
Key Assumptions:
- Millennials are a valuable target demographic for the ECF.
- Digital engagement is essential for attracting and engaging Millennials.
- The ECF has the resources and commitment to implement the recommended changes.
8. Next Steps
The ECF should prioritize the following steps to implement the recommendations:
- Develop a comprehensive digital strategy: This should include a website redesign, social media strategy, and online fundraising plan.
- Pilot innovative programs: Test new programs and initiatives that align with Millennial values and preferences.
- Build internal capacity: Train staff on digital marketing, social media, and online fundraising strategies.
- Engage with Millennials directly: Host events, workshops, and online forums to gather feedback and build relationships.
- Monitor progress and adapt: Regularly track progress and make adjustments to the strategy based on data and feedback.
By taking these steps, the Edmonton Community Foundation can successfully engage Millennials and secure their long-term support, ensuring its continued success and impact in the years to come.
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Case Description
In late 2020, the board of the Edmonton Community Foundation (ECF) was preparing for its strategic planning session. The question on the agenda was, Should the ECF target millennials or baby boomers for its endowment development tools and strategies? Board members were of two minds when it came to millennials. Some members believed the ECF should intensify its efforts among baby boomers, as time was running out on this donor demographic. Others believed the ECF's relationships with baby boomers were strong and that it was now time for the ECF to begin actively courting a new generation of donors. Nneka Otogbolu, the newly appointed director of communications and equity strategy for the ECF, was working on her presentation for the board. Her team had carefully researched the two options, leaving it to her to decide what the recommendation should be. She would need to make her mind up soon, as the board meeting was in two days.
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