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.