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Literacy

The Michael J. Fox Foundation

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Company Background

 

 

 

The foundation was incepted in 2000 by Michael,

an actor who was diagnosed with Parkinson’s at the age of 29 years. The

company’s mandate is to find a cure for Parkinson’s disease through research.

In this regard, the company funds research geared towards finding a cure for

the disease. The foundation seeks to accelerate the search for Parkinson’s cure

and development of therapies that improve the lives of people living with the

condition. Over the years, the company has partnered with different stakeholders,

which include researchers and advocates. All this is geared towards realizing

the company mission. In this regard, the foundation over 80% of its funds to programs

(The Michael J. Fox Foundation,

n.d.).

 

 

 

Services Provided

 

 

 

The foundation offers grants to researchers

involved in Parkinson’s study. Streamlining and coordinating different research

teams is part of what the foundation does. Various groups are likely to have

varying insights. In this regard, the organization endeavors to coordinate team

efforts to realize a speedy and knowledgeable outcome best suited for patients.

The organization equally furthers understanding of Parkinson’s by gathering

data from volunteers. Data collected is used to shed more light on the disease

concerning symptoms, treatment, and diagnosis. An online platform that recruits

volunteers for genetic testing, questionnaires, and study are also present. The

company offers collaborative services with health care companies, biotech

companies, and pharmaceuticals. Events that expose the company to other

researchers and research developments are also organized to further the

foundation agenda (The

Michael J. Fox Foundation, n.d.).

 

 

 

Market and Legal Structure

 

 

 

A robust legal structure is essential in

running the organization. Litigations can negatively affect the reputation of

the organization and, by extension, affect company goals. The organization has

a network of advocates that assist in its advocacy (The Michael J. Fox Foundation, n.d.). Information regarding policy at the

government level is made available for those working with the organization. It

not only serves as the information center regarding the disease, but it also

acts as the legal knowledge for those wishing to get involved with the

organization. The foundation carries out marketing strategies to attract

funding. Marketing is an important aspect as far as finance is concerned as it

determines customer needs (Berkowitz, 2017). The organization has individuals working as marketers and

fundraisers. Fundraisers are meant to raise the money needed to run the

different programs available.

 

 

 

Competitive Position

 

 

 

The fact that Parkinson’s disease is a chronic

degenerative condition means that a cure is desperately needed (National Institute of Neurological Disorders and

Stroke, 2019). In

this regard, the organization has a competitive edge as far as finding a cure

is concerned. The organization has financial statements that are accessible on

its website. This is indicative of transparency, which would equally give the

organization a competitive advantage. The fact that more than 80% of its funds

are directed towards research programs places the foundation at a competitive

position.

 

 

 

Financial Statements

 

 

 

Financial transparency is essential in any

organization. A foundation that relies heavily on funding should especially take

transparency seriously. Not only is financial transparency ethical, but it equally

promotes better funding opportunities. The foundation funded programs worth

more than $108m in 2018 (The Michael J. Fox Foundation, 2018). The Team Fox comprising of

fundraisers raised more than $10m in the same year. 88% of the funds are used

directly to fund research programs by the foundation.

 

 

 

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