This report is a business concept proposal that will help us develop a business plan for our organization which is NBK and that eventually will benefit them. The CSR project that we have chosen is a "Drug Prevention Program" that will benefit both NBK and society.
In this proposal, we first gave a small introduction about the company and what other CSRs the company is doing and then we included our aim and purpose of this project which is to increase the awareness level about this problem and provide some possible solutions and also to break all the cultural and social barriers about this specific issue. Then we went on our 4 SMART objectives which are what exactly we are aiming to achieve by the end of the project.
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In order for us to analyze the market for our proposal, we did a Macro and Microanalysis that will help us determine what is our strengths and weakness points and what could be the opportunities and threats that we are facing. Another important part of this proposal is the financial projections. We did an estimated budget including profit and loss account and cash flow. After that, we mentioned the requirements considered to ensure our project can be implemented like the logistical and operational requirements and how this may impact on the success of our project.
In the viability part, we showed our costs and benefit to the organization and its return on investment. Last but not least we talked about the competitive and economic viability on how the different activities that we do will mark us as a strong competitor in the business and on an economic perspective this project is going to benefit the economy as it will provide new jobs for Kuwaiti people and even give them the opportunity to work at NBK. Introduction National Bank of Kuwait is holding an event called “Drugs Prevention program”. This program is a nonprofit event.
This event is set up to spread awareness and take actual action to people on drugs; or people that don’t know about drugs. Many people don’t release how it’s a dangerous, serious issue and can cause death. The drug prevention program is will be arranged to give advice and nonprofit rehabs that can be beneficial for drug addicts. Those rehabs will be very helpful to the addicts as the drug prevention program organizers will provide brochures with full details and contact information.
Why we chose NBK?
NBK is the oldest bank in Kuwait and it has a very good reputation.
Also, it has been through a lot of CSR events in various sectors. The campaigns NBK did are Support of National Labor is our first priority, environmental initiative, health care initiative, sports initiative and contributions, education initiative, social care and philanthropic initiative, and conferences and seminars. The activities lie under the support of National Labor are NBK Academy, which intensive training for fresh graduates that joined the bank and High flier’s leadership program; this program is to develop future leaders.
As for environmental initiatives activities are hand-in-hand to preserve our beaches, this campaign launch to clean the beaches of Kuwait and Put your energy into saving energy NBK commenced its energy-saving awareness campaign: ‘Put your energy into saving energy’, with staff and summer interns from NBK giving away more than 10,000 long-life energy-saving light bulbs at the Avenues Mall. Health care initiative campaigns are breast cancer awareness give discounts for female employees to have checkups and lectures and seminars for awareness and blood donation; many NBK employees donated blood for the blood hospital in Kuwait.
Sport initiative and contribution NBK organized a walkathon to encourage people to have better health and lifestyle. Whereas for education initiative; NBK has hosted high schools and universities to learn day to day operations. Social and philanthropic initiative events done by NBK are Do Good Deeds in Ramdan this campaign offer free for banquets and the Somalia famine relief campaign was launched to donate money. The last but not least the conferences and seminars which were set to increase awareness about currents issue in the society.
One of the seminars was on the Global Financial Crisis and its Impact on the Region; which discussed the international outlook.
Aim of the project
The aim of this project "Drug Prevention Program" is to benefit society and this fits in with NBK's mission statement, which is to serve the national needs as a priority. This program will be good for the society as it will increase the awareness level by defining the problem, which is drug usage, and then it introduces society to the ways they or the people they know can prevent it and help them find possible solutions and lead them to the right places where they can find treatments.
After we make sure people have enough knowledge to prevent this problem, we can expect drug usage to decrease, because they have been introduced to this problem and know all the negatives effects drugs have on the human body. There are a lot of controversial issues in our society and drugs is one of them, so it is very important to bring this topic up to the public and let them know that there is no shame for a drug abuser to admit that they have a problem and that they need to seek therapy.
There are also a lot of cultural and traditional barriers that could affect the processing of this program, so our goal is to breach and break all these barriers and expose a problem that is considered as a "Taboo" topic. It is essential to take a step now because as we all see, it is a growing issue and the accessibility for drugs is really easy nowadays, that is why our society needs to open up their minds to this kind of problems or else it will affect our future generations.
Setting objectives is really important for any organization or a project because it will let us know what we are trying to achieve and it will increase our chances of success. Our objectives will deliver major benefits to this program and the most important one that will define the purpose of this project. We set for our project 4 different objectives for our program (Operational, Marketing, Financial, and CSR) and they are all SMART objectives.
- Operational Objective: Conduct a seminar every two weeks in a different location each time while having diverse guest speakers in each location.
- Marketing Objective: To increase awareness and publicity of the program through sponsored events and media notifications by 20% within the next 3 months.
- Financial Objective: To increase the customer base of the firm by 7% by the end of the program as a result of the program's positive effect on society.
- CSR Objective: Increase community welfare by decreasing the level of society's drug administration 15% by the end of the program.
Having these objectives is like a powerful tool that will help us succeed and it will keep our team motivated and seeks more accomplishments.
Feasibility Analysis Macro
Before venturing into a new project, it is important to assess the external environment of a business and what possible impacts can affect the project. The threats and opportunities are external factors that guide a project towards taking certain decisions over others.
Social factors: Kuwait, as compared to the rest of the world, receives a generally higher average income. This shows that the majority of the population in Kuwait is on the higher side of the income range. Within the lifestyle changes are the increasing popularity of social media and its different usages within societies.
It is a powerful tool to reach as many people within society as possible. Social trends in Kuwait can affect the way people look at the Drug Prevention Program (DPP). Since drug abuse is a taboo topic, tackling it publicly would face some kind of hesitance by the public. Ensuring that local positive public figures as a part of our program would change the attitudes of people in Kuwait. It would garner more publicity and receive more entrants within the program.
Technological factors: The increasing usage of technology in these times means more coverage for the DPP.
People surfing the net, using social media, and/or browsing through the various forms of technologies can find (or be exposed to) items and events that are happening around them and more information about each finding. In order to reach a bigger range of people, the program needs to be technologically updated in terms of websites, social media and pop-up ads if necessary. Technology must also be used to enhance the quality of whatever is being presented and also to improve the organization and efficiency of what is being accomplished.
There is no firm, program or organization deemed to be successful without the usage of thorough technology. The marketplace for whatever that needs to be launched today needs strict technological requirements that need to be met so that it can connect to a wider audience. Environmental factors: There are many factors that influence industries and the industries affected by environmental factors (weather and climate changes) include tourism, agriculture and economic industries. However, there should not be much stress on what environmental aspects can affect the DPP because its nature is not affected by climate change.
As long as there will not be any significant hazard, the environmental factors can be considered as off the radar for this type of DPP.
Economic factors: An economy affects the way a society behaves and it obviously alternates their decisions depending upon how high or low it is. If the local economy has resulted in higher interest rates, this will mean that firms will be less likely to invest in what might seem like an unpredictable gamble. This DPP needs sponsorship and is based on fund-raiser events to continue the progress of the program, and not much participation will happen if the economic times are low.
Another factor of the economy is the strength of the currency. Kuwait has a very strong currency and its effects on import/export activities, but that will not be an issue because the program does not need much of these activities. If inflation occurs, staff will need higher salaries and this will affect the planned budget. The salaries need to be raised so that the staff can be satisfied when being compared to other raised salaries within the fields and industries. Political factors: When political factors are mentioned, one automatically thinks of the laws and regulations that restrict action or a project from fully taking shape.
Since drug abuse is a taboo topic, there are bound to be limited to what can be done through the project. The law in Kuwait prohibits the live showcase of drugs and substances that can be abused. This can somewhat hinder our performance because it will limit what the group can show a live audience to enlighten them on what needs to stay away from. If guest speakers in the form of previous users need to be brought in to enlighten the participants, there will be restrictions due to the law not allowing prisoners to exit their cells and talk about experiences only once their period is over.
This means that only ex-abusers who have finished their trials and prison time can enlighten the participants, the newly caught addicts will not be able to. It must be noted that the DPP will not focus much on current abusers who were caught abusing rather than those who willingly wanted to quit drug and substance abuse. Before continuing further with this project, a legal framework needs to be conducted so that the project is validated and under the microscopic view of the government ensuring that no illegal limits are surpassed.
Legal factors: Laws banning against age and race discrimination will not affect the DPP heavily as the participation has no kind of restriction whatsoever. A participant does not even have to be an abuser, or even in contact with one. Since the jobs offered to the staff will not be permanent, there will not be a minimum wage assigned to what the individual salary amount is. There is a law in Kuwait that states: any Kuwaiti national working in the private sector will receive a fixed amount each month as an addition to what a firm is handing over as a salary.
This law will not be applied to the DPP because the vacant jobs offered are not permanent positions; it is only in the duration of the events that the assigned staff will be a part of the program. Permission needs to be granted from the governmental censors to give the program the green light to go ahead with the project. After permission has been granted, the banquet hall owners need to be aware of the purpose and activities of the DPP.
Macro SWOT Analysis Strengths: * Controversial * Good Cause * Society’s Benefit Weaknesses: * No monetary ROI Costly * Taboo Opportunities: * Program Expansion * Rehab Formation * Brand Image Threats: * Public Decline * Influential Competition * Insufficient funding to continue.
This drug prevention program has strengths and weaknesses. The strengths are it controversial many people might disagree to expose the idea or issue; which is currently available and increasing radically. The good cause is that it spreading awareness and leading drug addicts to the right direction. This will benefit society by having better living and health.
The weakness are that there aren’t monetary ROI; zero profit and it cost a lot there will be a loss in return because this campaign is setup to have better youth to have a better society. Its taboo because people in the Arab region see it as shame and don’t attempt that it exists. There are many opportunities for the program; which are to expand the program and format a rehab and boost brand image. The threats are the public decline which is the society not accepting the idea. Influential competition is another threat in which other companies or banks can launch a campaign similar to ours.
The last threat is insufficient funding; not having enough money or if NBK stops funding us. NBK's CSR programs are successful due to the reason that it encompasses as many fields as it can possibly be a positive addition to. The strengths are the variety of areas that NBK is participating in to achieve and maintain an improved society. It has a diverse selection of activities: social, educational, philanthropic, sports-related and more. NBK has built a positive reputation for itself as a pioneer in merging its daily activities along with CSR activities for the improvement of society.
Currently, a weakness is that NBK is not a part of any project or program that supports the fight against drug and substance abuse. The DPP is the right step and opportunity to turn this weakness into a strength. Another weakness for the CSR of NBK is that it does not necessarily include the entire society. Without this program, people into drug and substance abuse are sidelined and not given any help or guidance. The opportunities resulting from external factors are that NBK can further push its CSR boundaries and continue in pursuing other untapped fields that need to be brought to the general public's eye.
NBK releases a CSR annual report that showcases their social responsibilities towards society. It lists what NBK has done the previous year in terms of initiatives and activities. This shows how the private sectors in Kuwait are competing to be the best CSR champions with the most good done to society. This benefits society more than it benefits the firms competing to help and improve. An opportunity in the form of program continual rises due to the strong need for initiatives upping society's standards. The next phase of the project can be adopted by NBK's rival if the program proves to be a success.
Drug and substance abuse is a taboo topic in Kuwait even today. Not wholeheartedly knowing what the general public's reaction means that a threat is opposing the DPP. There are bound to be people who do not want to associate themselves with taboo topics such as drugs which means that there will be some kind of a decline from a section of the public. It is vital to assess how the threats and weaknesses fare against the strengths and opportunities of this program.
To proceed with this we will need knowledgeable staff or speakers, and/or former addicts to speak at these seminars. Another requirement would be setting up booths and banners in Avenues, Marina Mall, and 360. Also for spreading the word about this program in a less expensive way we will be designing different brochures and handing them out at the seminars and booths. Some of the other activities that will be done are fundraisers and getting different sponsorship to boost the program. For this to be done operationally speaking we will need sufficient staff to arry out the tasks and/or guest speakers, money for printing and equipment, vehicles, and having meetings and presentations. The staff will need to be able to design the brochures and banners, set up booths, and be knowledgeable about the program to deliver the message in meetings and presentations. Like most projects money is a key factor to get the job done. We will need money for gas, staff, printing, and other equipment. Technically the program is going to require computers for emailing and organizing with school officials and NBK members also to stay financially organized with sufficient data.
For this program to run smoothly we must also focus on logistics. Organization and planning are a must for determining which schools or universities and which dates are the most appropriate and effective. As mentioned earlier the three malls were chosen for the banners and booths, because they are the most popular and seem to be the most effective for reaching the target audience. Some good locations for the seminars could be reception halls and popular locations that can be rented, for the presentations and meetings on the other the NBK meeting room seems to be most suitable for our program.
In terms of Return on Investment Viability, our project will not be gaining any monetary returns directly since it is a non-profit program. For the ROI formula, we will calculate zero (no profit) divided by 105,050 (for one year) which will be equal to zero percent financial gain. The total investment required is 315,150 for the three years of the program. Our ROI for the first year will be zero. Competitive Viability Like any project, the Drug program will need to be viable and sustainable with regards to competition.
This means that our program can survive long-term and eventually gain profit while competing with similar programs in Kuwait. In Kuwait however, there is already some competition. One major competitor is the National Anti-Drug Committee. This committee was founded in 1989, and their main goals are similar to our program’s goals, which are to focus on the youth and the protection of the health of society. Also similar to our goals is the fact that they are trying to introduce some awareness amongst the education fields.
Although there is some competition already in the market, we believe that the program can become more competitive once introduced, because we will be working with NBK which is a very popular bank, especially among the youth. The National Anti-Drug Committee is not well known in Kuwait, yet has been around for many years. Although this is true about the National Anti-Drug Committee, our program will still have a competitive advantage of working with NBK. Also, we are going to be introducing many guest speakers at different seminars through different schools. We will be bringing people who have abused drugs and overcame these issues, which will have a great impact on people in a society like Kuwait.
Another thing that our program is going to offer is setting up different fundraisers throughout Kuwait to raise awareness about the serious nature of drug abuse. These different activities that our project will be conducting will give our company and program a more competitive edge in the market. Economic Viability In order for our drug program to be viable economically, it will need to create different job opportunities and possibly attract people to work at NBK. This program is an extremely controversial activity in a society like Kuwait where the issue of drugs and drug abuse is a taboo subject.
By confronting the matter and showing people how serious and spread out this problem is in Kuwait already, we can show people that NBK cares about this and is not afraid to be associated with fighting it. The project for NBK will require staff and/or volunteers. This will create job openings for anyone interested. It may even attract people to work for NBK, because it shows that they care about and are giving back to society. This further promotes NBK’s vision to benefit the society where they function.
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