A Comprehensive Exploration of Funding Opportunities for Anglicare Victoria

Purpose of the research

The study is aimed at gaining insight into how Anglicare Victoria (AV) might be overcoming its barriers in their community programs and hindrances in development of sustainable programs through better funding them. Finding financing sources is the main goal in order for AV to keep helping underprivileged children, families, and young people. This goal is in line with the priorities of AV's 2024 strategic plan, which include excellence, growth, sustainability and transformation.

Table 1: Consolidated statement of income for the year ended 30 June 2023

Source:ANGLICARE VICTORIA & ITS CONTROLLED ENTITY ANNUAL FINANCIAL REPORT 30^thJUNE 2023

2 Review of theories and frameworks

The stakeholder theory and the strategic management theory, are two modern business theories that are strongly tied to the study issue, and are reviewed in this following section. Additionally, with the aid of academic literature, two analytical frameworks, PESTLE analysis and SWOT analysis are evaluated.

2.1Business theories

Stakeholder Theory

This theory as defined by Freeman and others (2010) focuses on the relationship between organisation and its various stakeholders. Anglicare Victoria is a non-profit oriented organization in which society is considered crucial to have ultimate consideration for ethical responsibility and ethical issues, here stakeholders’ opinions are considered very essential. AV benefits from the moral compass that is provided to it by stakeholder theory with respect to which when relating what it does in terms of action motives, satisfies all its corresponding networks of individuals, and thus coheres their expectations, values and perspectives (Boldyreva et al. 2019).

Being a non-profit, Anglicare Victoria's ability to manage relationships with a variety of stakeholders is critical to its success and long-term survival. As a consequence, this hypothesis was chosen (Bowie, 2012).

Strategic Management Theory

The fact that continuous planning and administration are expected to be included in the AV 2024 Strategic Agenda serves as evidence for this discussion. The strategic management model is one of the theoretical concepts that may be used for AV and would permit to use a systemic approach to manage networks as well as to commercial opportunities and transactions (Hill and Jones, 2010). 

Anglicare Victoria may benefit from the use of strategic management theory since it offers guidance on how to design, carry out, and oversee initiatives that enhance firms results and get over budgetary obstacles. Anglicare Victoria values innovation, growth, sustainability, and quality highly (Edmondson, 2022).

2.2 Analytical frameworks

PESTLE Analysis:

A PESTLE analysis makes the organization understand the systematic opportunities and threats phases to study, thus, AV needs this valuable analytical framework (Çitilci and Akbal?k, 2020). Thus, such refinement of understanding leading factors can allow AV to adopt the process proactively and discover the best way in handling financial crisis.

The operations of AV are the dynamic in nature because various outlying factors in surrounding environment makes it impossible for the company to hold up. By employing PESTLE Analysis, which offers a systematic approach to assess the external environment, AV has enhanced its capacity to anticipate shifts, identify opportunities, and position itself to overcome financial challenges (Akman and Kubilay, 2020).

SWOT Analysis:

SWOT analysis on AV is conducted because the possible elements to analyse into this reviewed model can encompass its internal strengths and challenges as well as opportunity and threats (Kotler, 2009). With SWOT analyses, AV will provide guiding light of how to use the strengths, accept and be ready for the weaknesses, exploit opportunities available during economic contractions and reduce any threat that could develop. While an internal as well as external assessment can be used to understand the status quo, only the use of this model allows the development of a perfect scheme directed at ensuring its sustainable development.

A SWOT offers a lot of insights to the position within the major dimensions in improvement, efficiency and development which focus on key aspects of effectiveness. This approach fits with AV's objective of locating locally developed solutions and access financial sources.

The PESTLE and SWOT frameworks were chosen on the basis of their relevance to a particular issue in AV or having the bigger advantage as a whole. The outlined framework also offers systematic approach for both external and internal platforms included.

3 Methodology and methods

The research methodology (case study research) and a summary of the data utilized for the report's analysis are included in the section that follows. In addition, Section 3.3 outlines the gap analysis as the chosen analytical method for examining the secondary data.

3.1 Case study research methodology

By using the case study, AV will inquire about the means by which an organization is able to realize its strategic objectives. Here the organization in this case is identified as a challenge or opportunity, and in relation to it, the AV will be subjected to studies thoroughly, and all aspects related to AV’s objectives, challenges and strategies adopted on these issues would be addressed.

In certain fields of research within our researches, AV will be evaluated as an exclusive case organization, which will fully utilized on its own experiences. This plan will provide AV's experiences a more complete and in-depth analysis, improving understanding of the business's approach to overcoming challenges and achieving sustained success. The research may offer a greater insight of AV's unique circumstances, tactics, and outcomes with regard to the identified opportunity or challenge by using a case study method.

In guaranteeing methodological appropriateness to the case study, Rashid et al. (2019) largely expand step-by-step intellectual support for business researchers by showing how someone engaged in a business analysis can conduct case analysis. Additionally, it strengthens the validity of examining organizational dynamics, tactics, and reactions through the use of a case study procedure, guaranteeing that the research methodology is based on accepted academic methods.

3.2 Secondary data

The secondary data is going to analyse Anglicare Victoria (AV), Annual Report and various other documents which could be easily available for free from the Australian Charities and Nonprofits Commission ACNC’s website. In particular, the AV Annual Report is all in one and offers readers information on respective sales and production activities outside of policies for better views on how an organization performs financially, 

AV's Annual Report: Each year AV comes up with an annual report that captures key information for the company regarding financial performance, the plans in place for future undertakings and the type of strategic program that would be affected (Anglicare Victoria, 2024).

ACNC website: The source of information about the corpus of AV’s official documents is on ACNC ’s website. These write-ups have certain types of financial reports such as governance type, compliance disclosures, etc., which needs to be analyzed properly.

The boundaries that may come by analysing these reports should be considered, though they may provide valuable insights. The selective information presented in the annual report, which highlights advantages while maybe downplaying disadvantages, could cause some problems (Saunders et al. 2009). Moreover, the study is susceptible to inadvertent biases or variations in the accuracy of the data because it depends on self-reported data.

3.3 Analytical framework

So, the best analytical framework for AV where secondary data analysis is needed is SWOT. A closer analysis of what is happening inside and outside the firm with a proper use of Strengths, Weaknesses Opportunities, Threat (SWOT) leaves no doubt into factors to which corporate activities are designed so that it can help its performance to pursue the objectives. By applying SWOT analysis to secondary data AV would be able to understand its surroundings in great detail, but also grasp the outside world.

Justification for SWOT analysis:

Strategic planning: SWOT analysis appears to be widely popular as useful strategic planning tool. Incumbent AV needs integrated vision directly as is fitting its strategic goals. Such system should be self-sustainable and furthermore have developmental nature and transformations at the same time. 

Holistic evaluation: Because AV serves large stakeholders that constitute a broader population, an outsider evaluation and analytical one will help address this very complexity. SWOT assures the continuity of the analysis procedure to ensure that all elements internal factor and external aspect are considered (Morgan, 2011).

Alignment with Purpose: Results of SWOT analysis show some probable opportunities regarding extra financing for AV, several weaknesses to combat, and threats at the same time possible to avoid. These results are consistent with one of the research objectives to provide AV with required financial means because these factors seamlessly play a role in obtaining more stability by an organization.

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