VA Insights | What key issues must the Foundation’s strategy address?
If foundations want to have a powerful impact in the philanthropic realm, they must develop a strategy to guide the organization’s long-term growth and planning. Today, our discussion will center on the core issues that an effective foundation strategy must address, and how to address them.
What to do ?
The initial phase of a foundation’s strategy involves breaking down a broader vision of its mission into discrete social issues at particular stages. The pivotal aspect is determining the problems, targets, and regions which shape the approach the foundation will take in tackling social issues. The greater the precision in pinpointing the issue, the more likely the foundation can form effective intervention strategies.
Here, VA would like to introduce the 4-Do framework. “what must be done”, “what can be done”, “what should be done” and “what can be done” to make strategic choices. The framework provides clarity and precision, ensuring that every aspect contributing to strategic choices is examined.
Should do :
Foundations should assess external factors, analyze pertinent policies, and consider the expectations of higher levels of government and the industry and community they serve to determine what should be done to fulfill policy requirements and social needs.
Might do:
Understanding the practices of peers is often crucial for identifying available options. Foundations must comprehend the markets and challenges addressed by their peers in the field as well as establish distinguishing factors for their own choices.
Can do:
The organization’s capabilities and resources primarily dictate what it can achieve, both presently and in the future. It’s crucial to identify not only what currently exists but also how new resources and capabilities can become available.
Must Do:
It is usually determined by an organization’s mission, vision, and values. It entails the foundation doing what it does, irrespective of the external environment or its limitations, and regardless of others’ opinions or trendy fads.
The intersection of 4-Do is the Foundation’s optimal choice.
How to do?
“How to do” refers to the various methods employed to address social issues.
Foundations should begin by comprehending the state of the particular social problem they intend to solve as this dictates the programs they should implement. Once the means of addressing social problems are explored, foundations ought to assess their own positioning and determine suitable collaborators.
An articulate, effective, and forward-thinking strategy can facilitate foundations to optimally mobilize their resources and bring more value to their contributions.