(Tiểu luận) topic a study on the financialsustainability of social enterprisecyberkid vietnam

FOREIGN TRADE UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION =====000===== MIDTERM INTERNSHIP REPORT Major: International Business Administration TOPIC: A STUDY ON THE FINANCIAL SUSTAINABILITY OF SOCIAL ENTERPRISE CYBERKID VIETNAM Submission Approval Student Name: Nguyen Lam Phuong Student ID: 2012250056 Class: English 01 Batch: 59 Instructor: PhD Nguyen Thi Khanh Chi Ha Noi, August 2023 TABLE OF CONTENTS INTRODUCTION CHAPTER 1: COMPANY OVERVIEW 1.1 History of Formation and Development 1.2 Organizational structure 1.2.1 CyberKid organizational structure chart .6 1.2.2 Functions of departments 1.3 Overview of business activities 13 CHAPTER 2: FINANCIAL SUSTAINABILITY IN CYBERKID VIETNAM 15 2.1 Current financial situation in CyberKid Vietnam .15 2.1.1 Financial sustainability in social enterprises .15 2.1.2 Overview of the revenue stream and cost of CyberKid 16 2.1.3 Analysis of financial situation of CyberKid products .19 2.2 Financial strategies assessment in CyberKid Vietnam 21 2.2.1 The advantages of strategies in financial aspect .21 2.2.2 The disadvantages of strategies in financial aspect 23 2.3 The cause of financial unsustainability in CyberKid 26 CHAPTER 3: RECOMMENDATION TO IMPROVE FINANCIAL SUSTAINABILITY IN CYBERKID VIETNAM 28 3.1 Business development orientation 28 3.2 Suggested solutions to enhance financial sustainability in CyberKid .29 3.2.1 Review and simplify financial request & tracking process .29 3.2.2 Re-conduct market analysis and customer segmentation 30 3.2.3 Review marketing and sales strategies for educational products 30 3.2.4 Develop more customize packages for sponsorship 30 3.2.5 Analyze on new legal status in order to diversify funding 31 CONCLUSION 32 Introduction Social enterprise stands as a formidable force in modern business, driven by the dual pursuit of addressing societal challenges while maintaining financial viability As an advocate for sustainable development and positive change, I have chosen to explore the topic of financial sustainability in social enterprises, aiming to uncover the strategies that enable these transformative organizations to thrive over the long term The allure of social enterprise lies in its ability to harmonize profit-driven motives with altruistic endeavors; thus, understanding how these ventures strike the balance between generating revenues and reinvesting them to fulfill their social missions is of paramount importance This report will delve into critical aspects, including innovative revenue supporting social initiatives and efficient resource management for lasting viability By examining their financial health, growth patterns, and resource allocation, we gain profound insights into their impact-driven strategies, ultimately contributing to the discourse on responsible business practices and highlighting the potential of social enterprises as agents of enduring, positive change in our global society However, it is important to emphasize that, owing to privacy restrictions and confidentiality concerns, I, as a Partnership Development Executive, not have unrestricted access to the complete dataset pertaining to the company The data provided in the subsequent discussion has been approximated and rounded up for illustrative purposes Additionally, it is worth noting that certain data points may pertain to the previous quarter, and the current figures might vary from those presented herein Despite these limitations, I will endeavor to present a thorough and insightful analysis based on the available information, aiming to provide valuable insights into the subject matter Chapter 1: Company overview 1.1 History of Formation and Development CyberKid Vietnam was founded in September 2020 by Ms Quynh Nguyen-Nhu – master of public policy at the National University of Singapore During her university time at the Diplomatic Academy of Vietnam, she went to more than 10 underdeveloped and developing Asian countries, participating, organizing, and operating more than 50 non-profit educational projects for children This experience has become a strong motivation for her to establish CyberKid Vietnam in the context of the rapidly increasing situation of child abuse in cyberspace - an undesirable consequence of the massive development of technology CyberKid Vietnam is a not-for-profit social enterprise with 100% ideas initiated and operated by Vietnamese people, being launched to support and protect more than 24 million Children in cyberspace, as well as equip Children and Young adults with digital competence  Vision: To inspire a responsible, talented, and healthy generation of digital citizens to take ownership of their own future and devote themselves to society  Mission: To enhance Internet safety awareness and skills as well as to equip digital competence for Children and Young Adults to ensure their digital readiness  Action: (1) Equip Children and Young adults with essential skills to identify, prevent and cope with cyber threats and (2) Develop digital competence for Children and Young adults to confidently approach and engage in future learning and working opportunities in the digital economy and society Vietnamese children have been using the Internet unsafely for many years due to the lack of proper guidance from schools, families, and government agencies Therefore, our CyberKid ecosystem applies the logic of the Change Management Model (ADKAR) to design solutions for children with the ultimate goal of helping them change this online negative consumption habit Each product will serve a different goal in the model described as follows: Source: CyberKid Vietnam Figure CyberKid Ecosystem There are some outstanding milestones during 3-year operation of CyberKid Vietnam as following: - 09/2020: Social Enterprise CyberKid Vietnam was founded 11/2020: CyberKid obtained official legal status as CyberKid Vietnam Social Joint Stock Company with business code 0105900696 At the same time, CyberKid launched the first solution for Schools - CyberSchool - 12/2020: CyberKid launched solutions for Children and Cyber Victims, respectively - CyberClass and CyberHotline - 03/2021: CyberKid appeared for the first time on National TV news program VTV1 as “pioneering organization to protect children in cyberspace - 10/2021: CyberKid launched the “Nationwide Internet Safety classes” project in Northern mountainous provinces Document continues below Discover more Thực tập from: khóa TTGK2021 Trường Đại học… 352 documents Go to course Báo cáo thực tập 27 kỳ Marketing… Thực tập khóa 100% (11) Current situation of 26 exporting in Tan Ph… Thực tập khóa 100% (5) Internship Report 45 50 7.2021 - Đào Minh… Thực tập khóa 100% (2) BÁO CÁO THỰC TẬP ĐỀ TÀI QUY TRÌNH… Thực tập khóa 100% (1) thực tập khố 39 qtkd Thực tập khóa - 100% (1) dẫn viết 04/2022: CyberKid launched the “Nationwide InternetHướng Safety classes” project in the Southern region Bcttgk - 07/2022: CyberKid officially established a new branchThực in Hotập Chi Minh city 100% (1) - 10/2022: CyberKid collaborated with Meta Platform, Inc to organize Safety khóa Café Vietnam with the purpose to enhance cyber safety awareness for Vietnamese users, especially Young Adults - 12/2022: CyberKid officially announced the rand update with the aim of raising 12 awareness and providing Vietnamese Children and Young Adults with essential cyber safety skills, as well as equipping them with competence and ensuring digital readiness  05/2023: CyberKid launched a for-profit solution for Vietnamese families called Digital competence box CyberHome 1.2 Organizational structure 1.2.1 CyberKid organizational structure chart The figure below shows the CyberKid structure which will be explained more detailedly in the next part Source: CyberKid Vietnam Figure Organizational structure of CyberKid Vietnam 1.2.2 Functions of departments a Board of Advisors Supporting and accompanying CyberKid from our first days is our Board of Advisors They are respected individuals who believe in CyberKid’s vision and potential to protect children in cyberspace, despite us being a new and young organization Thanks to their support and encouragement, CyberKid has gained many achievements and recognition from the public since our establishment With professional knowledge and practical experience, our Board of Advisors has advised and critiqued short-term and long-term ideas and strategies; methods for managing, developing human resources and partners, as well as legal consulting, all of which help guarantee CyberKid’s effective operation Advisor Expertise Associate Prof Dr Director, Institute for Educational Research Development of Human Potential Anh Ky Nguyen Vo Mrs Hoa Hoang Thi Vice Chairwoman, National Assembly Committee for Culture, Education, Youth, Adolescents, and Children Mr Son Dang Hai Executive Director, VinCSS Cyber Security Services Co., Ltd Mr Son Nguyen Thanh Chairman of the Board of Directors, Media Ventures Group (MVV) Mr Vinh Thai Associate Professor, RMIT University, Melbourne (RMIT) Mrs Huong Thu Nguyen Thi Chief of the Office, Authority of Information Security Mr Dung Nguyen Huy Deputy Minister, Ministry of Information and Communications Mr Philip Hung Cao Key-founder & Advisor, Cloud Security Alliance (#CSAVietnam) Mr Duong Truong Van Lecturer, Investing Police Department, T32 Police Academy Mr Hieu Ngo Minh Cybersecurity Specialist, National Cyber Security Center Mr Ung Bui Dinh Director, Bui Dinh Ung Law Office Table List of Board of Advisors b Board of Directors