Sроrt Funding and Sроnsоrshiр Essay Example

  • Category:
    Management
  • Document type:
    Assignment
  • Level:
    Undergraduate
  • Page:
    2
  • Words:
    1326

Running head: SРОRT FUNDING АND SРОNSОRSHIР1

Sроrt Funding and Sроnsоrshiр

Sроrt Funding and Sроnsоrshiр

Organizational details

Werribee Tennis Club began its operations in 1978 with a group of friends who had an aim of playing tennis for fun in the Werribee region. Further, the Werribee Central Tennis club ethos is meant for social and friendly encounters with people of all ages. Conversely, the original club building was constructed with a substantial sum of money borrowed from the members, and amounts of labor were provided by them. With that in mind, the building constructed contained a kiosk, two tables, and the main dining room. Alternatively, since the completion of the building, other notable improvements have included a 1980 club car parking area which was constructed using funds from the Ladies Auxiliary (Weigelt & Camerer, 2013). On the whole, with help from the Victorian government, two courts were further built to lessen pressure on the current one.

Objectives

The company’s short-term goals are; to introduce a singles ladder for the 2016 summer season, to designate and define a robust membership management process, to appoint new leaders for the coming season and to inculcate a new coaching program. Again, the medium term objectives include; to reinstate the club’s finals day by the month of November, from this year the company should put forward five junior players for the countries selection trials in each year from 2015.The long-term objectives include; to install flood lights that will operate during the winter season, to send forth, at least, two juniors for county selection trials each year and improve the ranking of the clubs team in and endeavor to maintain two three pair teams by 2017.

Effect on the environment

On the environment, Werribee is responsible for creating job opportunities for several people in the community. Equally important, the construction of tennis infrastructure comes with detailed planning and an integrated water cycle plan which will lead to the growth of the environments systems in that regard. To this end, the immediate surroundings will benefit from the establishment of top-notch quality services and infrastructure. Consequently, there will be an improved transportation of goods and services and development of talent within the region. In any event, the establishment of the franchise will develop local talent which can be of great use to the nation. Generally, through corporate social responsibility, the company extends cleaning exercises to its environment.

Target audience, achievements and use of funds

Young people are a target in a bid to grow the game of tennis, for that reason Warribee intends to donate brand new tools to community centers and schools, provide workshops for their staff and coaching training. On the other hand, the club aims to assist in the training of children between the ages of 10 within the tennis programme. Accordingly, the company is targeting active, and conscientious consumers are having a high ample leisure time and disposable income because to them tennis is more than a game it makes up part of their lifestyle, purchasing decisions, habits and priorities. Notwithstanding, Warribee club has so far graduated so many tennis players ever since it was opened. So many tournaments have been won by the club over the years which have played a vital role in the clubs development.

Warribee has improved the community’s infrastructure which has enhanced the transportation of goods and services. With road transport improvement, workers can move to work efficiently, therefore, saving time which would have been wasted on poor transportation. The club came with it job opportunities which have increased income levels among the people in the community. Consequently, the government has collected taxes from the workers and the club that are used in the provision of social services. Importantly, the funds granted shall be used to purchase ball retrievers and tennis balls, rehabilitate the clay courts, and buy new net posts, tennis nets and windscreens. Again the funds obtained will be used to service the salaries of the workers and meet some other budget requirements (Washington & Zajac, 2015).

Warribee Tennis club’s grant Budget Investment & Evaluation estimates

Three years are expected to be enough for Warribee to collect funds. Further, the process will commence in the year twenty sixteen, head into twenty seventeen and end in twenty eighteen. Consequently, over the years, forty-eight million, seventy-four million and one hundred eight million will be expected to be collected respectively. With this object, the funding will be solicited from three sources, Trump Foundation, Forest Foundation and Olives limited. In twenty sixteen the expected amount on salaries and fringes will be U.S dollars twenty million, in twenty seventeen the amount will be U.S dollars forty million and then in the last year Warribee expects to collect sixty million U.S dollars.

The amount that the company intends to spend on tennis racquets if granted will be five million in the first year, six in the next and eight million in the last year. The amount expected to be raised on travel will be fifteen, twelve and eighteen million as costs of fuel and the amount of money spent on vehicle repair have gone up recently. Again, the racquets are used by the club during gaming activities for interested parties and for that reason; there will need to be some money set aside for buying them. In twenty sixteen, the amount to be collected is expected to be two million U.S dollars, the following year the number is supposed to rise to three million U.S dollars. Then in the last year, the sum of money to be collected will increase to four million U.S dollars.

Warribee needs well trained coaches; therefore, there will need to be a process of scouting and hiring them at the club. Five hundred thousand U.S dollars will need to be collected in twenty sixteen, six hundred thousand U.S dollars in the following year and then ultimately, seven hundred thousand U.S dollars in twenty eighteen. On the other hand, since the company needs to print brochures and relevant documents about its activities, some funds will need to be put into the company’s treasury to meet that service. In the year twenty sixteen two hundred thousand U.S dollars will need to be collected, in twenty seventeen it will be three hundred thousand U.S dollars and in the year twenty eighteen it will be four hundred thousand U.S dollars.

Today, the advent of technology has made tennis balls more efficient changing the game. For that reason, the costs incurred in ensuring that Warribee gains the best balls is a little high, in twenty sixteen, the amount to be expected in the clubs treasury for the balls should be one hundred U.S dollars, and then in twenty seventeen it should be two hundred U.S dollars and then three hundred U.S dollars in twenty eighteen. Alternatively, other direct costs will take three million in twenty sixteen, six million in twenty seventeen and nine million in twenty eighteen. On the whole, the amount on nets should rise to two million in twenty sixteen, in twenty seventeen it will be four million U.S dollars and in twenty eighteen it will be nine million U.S dollars.

Illustration

Werribee Tennis Club

Grant period

Projected Budget 2016. 2017. 2018.

$(000) $(000) $(000)

Salaries and fringes 20,000 40,000 60,000

Tennis racquets 5,000 6,000 8,000

Travel 15,000 12,000 18,000

Towels 2,000 3,000 4,000

Coaches 500 600 700

Printing 200 300 400

Balls 100 200 300

Nets 2,000 4,000 5,000

Infrastructure 3,000 6,000 9,000

Indirect costs 1,000 2,000 3,000

Total costs 48,800 74,100 108,400

Projected sources of funding 2016 2017 2018

$ (000) $(000) $(000)

Trump foundation 20,000 30,000 40,000

Forest foundation 10,000 2,000 3,000

Olives ltd 5, 00 1000 1,500

Total 30,500 33,000 44,500

References

Washington, M., & Zajac, E. (2015). Status evolution and competition: Theory and evidence. Academy of Management Journal, 48(2), 282-296.

Weigelt, K., & Camerer, C. (2013). Reputation and Corporate Strategy: A Review of Recent Theory and Applications. Strategic Management Journal, 9(5), 443-454.