Though the company is going to incur expenses which have to be given from the cash in hand or go for bank loans. But furniture bank being a charitable organization will also get some rebate in the interest levied on the loan. Once the furniture banking starts building up on the cash, they will also be in a position to spread an awareness regarding their cause for which they are working in the country. Moreover, a further cash of $127000 can be earned from which the expenses of the truck drivers can be borne. Thus, the truck which gets utilized for five days for 90 hours can give more output. Capital Campaign The problem faced by the charitable institution like furniture banking may be that of many other organizations which non profit making institutions are. Being a charitable institution the land acquired by furniture bank was given for free; which is now being taken away forcefully with the intention of building houses at affordable rates. The institution also wants to move to a place which is easily accessible to their entire volunteers who live in Greater Toronto Area. But getting a property there even at a subsidised rate accounts to $1.5million to 3.5million which is almost beyond the limit of furniture bank. Though the institution is having a favourable cash balance yet the rate proposed is beyond their limits because if they go for a property at exorbitant price then the cash required for rendering services will get reduced hampering the cause which is their main motive behind starting of the organization. So in order to get rid of the relocation problem some steps need to be taken like the create more volunteers for the organization, improving fund raising skills and confidence and train the existing staff for making a strong team towards the achievement of the goals. But until a suitable place to set up the institution is found it would not be advisable to shift from the present location under any circumstances (Kihlstedt, 2010, p. 2). Information Technology The information technology is an essential element to run any business effectively, be it profit making or non profit making organization. To track the caller of the furniture bank a proper information system should be built up so that the company can expand more. The cause of the company though a good one is not yet marketed properly so the number of volunteers is a mere 30 members. For a non profit making organization to grow it is very important to spread the cause near and far. This will require more volunteers than presently existing, so marketing through the information technology will not only spread the cause of furniture bank but also do the needful at an affordable cost. Even the records of the institution related to its policies and procedures will be well maintained unlike now. Answering calls will be much prompt than that of now. Customer relationship will also get enhanced. Though the initial cost will come to around $90000 approximately with a monthly payment of $1500 for system maintenance and direct technical support, yet it is advisable to bear with the
Case Study: Furniture Bank Table of Contents Evaluating and Prioritizing Each of the Proposed Competing Ideas 3 Acquiring New Trucks 3 Capital Campaign 3 Information Technology 4 Determining the Operations Capabilities That Are Needed to Ensure Proper Implementation of the Recommended Option(s) 5 Conclusion 8 References 9 Evaluating and Prioritizing Each of the Proposed Competing Ideas Acquiring New Trucks The acquiring of the new trucks has been done with the view of increasing their cash in books, which is at rate of $350000 earned from the generation of their services…
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