Build-and-create initiatives aim to force organizational change to enhance business operations (Hutchison-Krupat, 2018). This facilitates the substantial expansion of a company’s business operations and enables the company to make optimal decisions for the change and the business (Hutchison-Krupat, 2018). As an effort to mobilize younger generations and donors in support of the organization’s objectives, the Red Cross’s social media pages receive relatively few engagements. The build-and-create program will assist the Red Cross in devising strategies to expand its social media involvement, thereby increasing the organization’s donor and volunteer base.
The Red Cross financially depends on donations; therefore, it can recruit more volunteers and donors via social media. The Red Cross can utilize social media to share the experiences of those who have profited from its assistance and those in need of assistance (Milde & Yawson, 2017). Additionally, the organization may incorporate an icon or link into its social media websites that facilitate efficient monetary donations. Unlike outbound marketing strategies, social media will enable the organization to reach the greatest number of individuals at the lowest feasible cost (Milde & Yawson, 2017). By expanding the Red Cross community, more individuals will be inclined to assist and support the organization’s endeavors. This approach has been demonstrated to be effective for several nonprofit organizations seeking to increase their visibility and expand their reach (Milde & Yawson, 2017).
A Budget Proposed for the Red Cross Organization’s Social Media Campaign (Denominated in Thousands )
An Examination of Financial Data
The company’s consolidated financial position as of June 2020 is provided in the table above. The financial position provides details regarding the overall assets of the organization as well as the corresponding funding allocation for each division. Additionally, it displays the allocation of funds for employee remuneration, wages, and benefits. The market price determined the allocation of funds towards software tools necessary for companies to establish and sustain a social media presence. Staff training is essential for ensuring personnel possess the most current knowledge of social media trends to manage the organization’s social media presence. The budgetary figures were additionally influenced by the organization’s profit/loss statement and balance sheet, which presented a comparison of revenue and expenses (The American National Red Cross, 2020). This information facilitated the identification of the company’s mean expenditures on equipment procurement, employee salaries and benefits, and employee benefits. The allocated budget is sufficient to establish the social media accounts for the organization, with an average of twenty-five employees. As the scope of the endeavor expands, the staff required to oversee the organization’s social media presence increases.
References
Hutchison-Krupat, J. (2018). Communication, incentives, and the execution of a strategic initiative. Management Science, 64(7), 3380–3399.
Milde, K., & Yawson, R. M. (2017). Strategies for Social Media Use in Nonprofits. Journal of Management Policy and Practice: 18(1), 19–27.
The American National Red Cross. (2020). Consolidated Financial Statements. https://www.redcross.org/content/dam/redcross/about-us/publications/2020-publications/FY20_ARC_audited_financial_statement-FINAL.pdf