Caring Friends Case Study
The financial investment equation balances out when the value received and value provided for resources exchanged can be measured in quantitative terms and are roughly equal. This is where the entrepreneurial model of Caring Friends diverges from the traditional ones, where return on investment is neither quantifiable nor commensurate with the monetary investment. For an organization that invests in humanity, the return is bettered lives and societal welfare, the value of which transcends any scale of measurement.
The conception of this organization devoted to this noble mission happened in 2002, when Mr. Ramesh Kacholia, after having risen from his modest background to secure a reputation in the corporate world, left that behind to pursue …show more content…
What sets them apart from any angel investor/venture capitalist is that their apprehensions are not essentially related only to the viability of the project or the skill sets of the executors, but also the personal financial conditions of the NGO workers. Most of the workers draw modest sums from the organizations, so CF have instituted a Staff Welfare Fund for them. This is just another evidence of good Human Resource Management. This way they provide additional incentives to the already intrinsically motivated individuals. Friends operate on trust in humanity, which stems from their belief in the intrinsic goodness in humans. Another point of contrast with traditional philanthropy is that CF help build capability in an organization whereas philanthropists provide only resources to an NGO. By building a capability pool in the organization CF provides a lot more than monetary benefits, it develops skills, provides expertise which are in turn harvested as resources. In the instance where Mr. Sumati was approached for providing his expertise …show more content…
But the elements of entrepreneurship, i.e., problem solving, innovation and risk taking are inherently present. Additionally, the friends engage with resources, opportunities and team work in any project that is undertaken. Creativity, leadership and good communication skills are pillars of the organization. The dynamics are different in the model of CF as compared to any other organization because there is no direct personal attachment with the returns that the investments
The conception of this organization devoted to this noble mission happened in 2002, when Mr. Ramesh Kacholia, after having risen from his modest background to secure a reputation in the corporate world, left that behind to pursue …show more content…
What sets them apart from any angel investor/venture capitalist is that their apprehensions are not essentially related only to the viability of the project or the skill sets of the executors, but also the personal financial conditions of the NGO workers. Most of the workers draw modest sums from the organizations, so CF have instituted a Staff Welfare Fund for them. This is just another evidence of good Human Resource Management. This way they provide additional incentives to the already intrinsically motivated individuals. Friends operate on trust in humanity, which stems from their belief in the intrinsic goodness in humans. Another point of contrast with traditional philanthropy is that CF help build capability in an organization whereas philanthropists provide only resources to an NGO. By building a capability pool in the organization CF provides a lot more than monetary benefits, it develops skills, provides expertise which are in turn harvested as resources. In the instance where Mr. Sumati was approached for providing his expertise …show more content…
But the elements of entrepreneurship, i.e., problem solving, innovation and risk taking are inherently present. Additionally, the friends engage with resources, opportunities and team work in any project that is undertaken. Creativity, leadership and good communication skills are pillars of the organization. The dynamics are different in the model of CF as compared to any other organization because there is no direct personal attachment with the returns that the investments