Live Chat
Order Now

Business Description

Home Free essays Management Business Description

Business Description

The Emergency Youth Fund is a business project that seeks to provide financial assistance to the youth. Most countries in the world have a high percentage of young people making up their entire population. However, they do not have the best facilities to make them financially independent. Due to this, the youth causes the highest percentages of unemployment in most countries, especially in the developing world. The Emergency Youth Fund Limited deals with providing financial assistance to young men and women, as well as empowering them economically. As a result, they may be able to stand on their own. The organization gives funds to individual people and groups, basing on the feasibility and viability of their business plans or structured projects. The company then reclaims its money from the youth through interests charged on loans extended to them, or collaborating on their projects and taking a cut from its profitability (Boros, 2012).

Get a price quote
- +

First Order Discount 15% OFF

The vision of this organization is to ensure that all young men and women within society will be financially independent. On the other hand, its mission is to contribute to economic development and prosperity by empowering the youth to develop the nation. As mentioned earlier, young people comprise the largest percentage of the population, and most of them are unemployed due to the lack of enough employment opportunities in most developing countries. As a result, most of them end up performing illegal activities in order to get some money to finance their economic needs. It leads young people to delinquency and other irresponsible behaviors, such as drug abuse, active sexuality that may be promiscuous or unprotected, crime and violence. Our organization aims to salvage this situation by providing these delirious and active young people with an opportunity to make their money and shape their destinies by taking command of their finances (De Thomas & Derammelaere, 2005).

The organization operates as a small division within society, for instance, in the capital of a developing country. The targeted youths are those, who are not employed and do not have any hope of furthering their education or advancing their career. In addition, it also focuses on young people, who have academic qualifications and certificates, but do not have any tangible jobs to rely on for their financial needs. The company has an organizational structure that carries out the evaluation of youths, who qualify for these loans. It is because some of them are too irresponsible and waste all money they get on drinks and having fun. As a result, it is very risky for the organization to extend loans to these types of young men and women. Therefore, the company has a team of expert professionals, who critically evaluate the viability of every project and business plan presented by an individual or a group of youths before deciding whether to extend loans to them, or deny facilities for one reason or another (McKeever, 2012).

The organization has five main departments that deal with the overall objective of the company. The first one is the marketing department. It markets products of the company to the youth in order to create awareness of their availability. This department also conducts market research on viable business projects and opportunities that young people can invest in and make some good money. Its main objective is to bring in new customers and make sure the ones coming to the organization meet necessary requirements and have qualifications to access services. This department even sells some feasible business ideas to the youth to encourage them to take up products of the organization. It is because the company is in the money business. Thus, the more money it extends outside for investments, the more profitable the firm becomes at the end of the day, benefiting all stakeholders concerned, including the economy (Sussmuth, 2003).

save 25%

Benefit from Our Service: Save 25%

Along with the first order offer - 15% discount (with the code "get15off"), you save extra 10% since we provide 300 words/page instead of 275 words/page

The second department is the finance one. It has the role of evaluating all projects, business plans, and investment proposals presented by groups of youths or individuals interested in products and services. This department evaluates the latter to ensure that they are risk free and guarantee a significant return on the invested amount. The company has to make sure that a project is viable and provides a great return on investment before approving a particular project. This department also ensures that the organization has the required funds before it extends loans to requested projects. Thus, it keeps records of all funds that come in and leave the company. All approved projects go to the third department of the organization, which is the loan one (Boros, 2012).

The loan department is the one that approves a loan and extends it to groups or individual youths seeking our facilities. It determines the mode of the repayment of the loan, at what interest, and the period, in which it should be repaid. The latter varies depending on the amount of the loan approved and the viability of the project, especially basing on the projected flows of incomes from the one. In addition, the department evaluates how each group or individual will pay back the loan. Currently, the organization has two methods of loan repayment. The first one is through interests charged on installments paid by groups on a monthly basis. The second one is through the acquisition of a controlling share in the business project, at least more than fifty percent. The organization stays in control of the project until it recovers all its money, plus the respective interests. Then, it relinquishes its ownership rights, either partly or wholly, depending on the agreements made beforehand (De Thomas & Derammelaere, 2005).

The last two departments in the organization are the administrative and the support ones. The former deals with the overall management of the company on a daily basis to ensure it meets all its objectives set out in the mission and vision statements. On the other hand, the support department deals with youth groups, who qualify for the loan facilities provided by the company. It follows up these groups and individuals to make sure that they implement every detail of their business plan. In addition, it is also at hand to provide these people with necessary advices, skills, and assistance, which they may require in the course of their implementation. For example, the support department may provide recommendation letters whenever needed (McKeever, 2012).

In conclusion, it is evident that the organization works properly because of the procedures and processes aimed to lead to the achievement of its goals and objectives. The leadership of the company plays a very critical role in its performance. The administrative department is the one that deals with the leadership and management of the organization. It oversees all processes of performing the organizational goals and functions, as well as driving the organization to the successful achievement of its mandate. Therefore, it plays an important role in staffing, organizing, directing, as well as coordinating all functions of the corporation in order to ensure smooth running of all its operations (De Thomas & Derammelaere, 2005).

Discount applied successfully