1 Assignment: Situation Analysis Karanpreet Singh Chiu School of Business, Bow Valley College MKTG1101: Introduction to Marketing Steven Trottier February 13,2022 2 Table of Contents Assignment: Situation Analysis ................................................................................................... 3 Summary of Benevity – Software / Technology Industry ......................................................... 3 History of Benevity .................................................................................................................... 4 Value Proposition .......................................................................................................................... 5 Spark by Benevity ..................................................................................................................... 6 Company Orientation of Benevity............................................................................................... 8 SWOT Analysis and Summary .................................................................................................... 9 Target Market Analysis and Positioning .................................................................................. 11 Demographic Description ....................................................................................................... 12 Geographic Description .......................................................................................................... 12 Psychographic Description ..................................................................................................... 12 Behavioral Description ........................................................................................................... 12 Competitor Analysis................................................................................................................ 13 Perceptual Map ....................................................................................................................... 13 Conclusion and Recommendation ............................................................................................. 14 References .................................................................................................................................... 15 3 Assignment: Situation Analysis Situational Analysis is the overview of a business conducted methodologically. This method allows evaluating the internal and external factors of the business and analyzing the factors that may influence the decision-making of the company. The company that will be evaluated in this report is Benevity. This company operates in the software and technology industry and has prospered with dynamic growth over the years. Summary of Benevity – Software / Technology Industry Benevity is a company that is located in Calgary, Canada, and operates as charitable donation management and grant management platform. Benevity is one of the largest startups of Western Canada that has expanded its portfolio significantly over the years. The major customers of Benevity are Nike, Coca-Cola, Google and Apple along with various other Fortune 1000 companies. The products of Benevity are destined to support companies in managing and tracking their employee’s charitable giving (Benevity, 2022). The objective of the company is to promote charitable giving and motivate people to volunteer in charitable causes through generous contributions. The products of Benevity help the customer companies to process their donations in a cost-effective manner that reduces the primary costs of the organization. Benevity believes in providing purpose to businesses by transforming how businesses engage with their employees, customers and communities. The objective of the company is to enable the customer companies to create a deeper connection with their employees and establish an internal culture that has the potential of creating an impact on the world. The foundations of the company were laid in Canada where it committed to hybrid goals of purpose and profit. The company delivers a culture to the clients and allows them to invest their time, money and talent towards corporate social responsibility that has the potential of transforming the world. The 4 company believes that the future of work lies in collaborating in new ways (Benevity, 2022). The methods that are adopted by Benevity aim at setting the cultures apart and focus on underestimating the power of the individuals. There are 7.9 Billion people on the planet and the company tries to induce the motivation of doing well in all the people by trying to catalyze goodness in the individuals from a corporate level. The legal structure of the company is a privately held company operating in the industry of computer software, cloud software and software as a service. The foundations of the company were laid in 2008 by founder Bryan de Lottinville in Calgary, Alberta. Benevity serves worldwide under the supervision of the Executive Chairperson and CEO of the company. The estimated revenue of Benevity is $100 Million plus annually employing more than 650 employees (Benevity, 2022). The ownership of the company lies with HG Capital Trust, The Rise Fund, Generation Investment Management, JMI Equity and General Atlantic. History of Benevity The founder of Benevity Bryan de Lottinville has previously worked as the COO of iStockphoto that was sold to Getty Images in 2006. The company started in 2008 with a team of four software developers that pursued their journey and goals towards social good. In 2010 Benevity received certification and became one of the only 15 B corporations in Canada. This signified the company’s commitment towards Corporate Social Responsibility making Benevity the third-fastest growing start-up in Canada as ranked by Deloitte. The revenue growth of the company increased by 5800% increasing substantially. The significant growth of the company allowed it to generate $40 million in Series C in 2019 from existing investors and this raised the value of the company to US$400 Million. In the year 2020 Benevity received the Unicorn status 5 when Hg Capital purchased a majority stake in the company for US$1.1 Billion (Benevity, 2022). The major headquarters of Benevity are located in Calgary, Alberta. The initial journey of the company started in 2008 as a small company with a small office above a shawarma shop. The company progressively moved to its fifth office in 2017 located in Bridgeland near downtown Calgary. The company has offices in Victoria BC, Toronto ON, San Mateo California, and Gloucestershire UK (Benevity, 2022). Value Proposition Benevity as a company has established multiple streams of projects that are equipped to provide solutions and products to corporate clients that benefit their businesses in the long run. The major solutions that are offered by Benevity are through the following: Corporate Purpose Employee Engagement Community Investment Customer Engagement Disaster and Crisis Relief International Programs The above-listed solutions are provided by the company to align the organizations with the goals of the business. The methods of Corporate Social Responsibility are provided by Benevity to the corporate clients for engaging their workforce towards social good (Westwood, 2013). The company has established a strong foundation with a variety of products that are responsible for employee engagement, community investment and customer engagement. The products that are provided by the company are named Spark, Giving & Matching, Volunteering, 6 Missions, Alaya by Benevity, Grants and API Integration (Terpstra, Foley & Sarathy, 2012). The most attractive offering of Benevity is for the nonprofit organizations that are provided with Cause Portal Login, Nonprofit Solution, Register your Nonprofit and Benevity Community Impact Fund. Spark by Benevity The product of Benevity that derives the most value is Spark which is one platform equipped to power purpose at work. The objective of this platform is to allow people to donate, volunteer and take action on social issues they care about. The basic fundamental is to provide the people with a platform to connect and take considerable actions towards the social issues they care about. The Spark is a platform that seeks to deliver social impact with less effort that allows building and growing a successful CSR program (Doole & Lowe, 2012). Spark is equipped to provide one platform that easily manages the social impact initiatives of the employees and promotes their motivation towards doing the social good. The Spark program is designed to make the employees of a company feel connected with the CSR Program. The company has designed and developed this product offering in a manner that the employees of a corporate organization will have more ways of doing well for society. The product enhances the scope of CSR and provides support for creating a sense of purpose that boosts engagement for the businesses. The basic fundamental of spark is to deliver the following: Social Impact Employee Choice Global Accessibility The social impact is an initiative that promotes giving, volunteering, and positive actions that support the mechanism of corporate matching. Employee choice is important for supporting 7 the nonprofits globally that can be linked with global accessibility allowing platforms to connect with the most convenient and accessible methods. The most important aspect of connection is through offering a variety of languages, currency and accessibility to the customers on their mobile devices that allow them to track their contributions of social good (Ferrell & Hartline, 2013). The Spark program was formally launched in January 2019 to increase employee participation as being unprecedented. The Spark program by Benevity proposes that the employees working in the corporate organizations contribute more with fewer efforts as the time of the workforce is important. The people are busy and they need a management tool to focus on strategy and results saving time as a priority. The automation and admin tools, ready-made campaigns and leading integrations are tools that integrate the existing tools and systems for the convenience of the customers (Berman, Evans & Chatterjee, 2018). The program is highly engaging and participative for the workforce as it empowers the employees towards doing well for the world. Making a difference can be easy at times and in a world filled with remote work Spark connects employees through shared passions that give the people a sense of ownership in the program building a culture of doing well. The other most important attribute of the program is participation which allows the employees to volunteer in the initiatives and participate to contribute to the society by peer matching and gamified goodness that allows the employee to rank their actions. Measuring and reporting about the contributions motivates the employees around to contribute more and this starts a chain of contributions in the people (Clow, 2013). The contribution of good allows aligning the real-time data, comprehensive reports and industry benchmarking that is integral for 8 purpose drive companies. All these attributes of the Spark program make it unique and beneficial for engaging the workforce within the organization. Company Orientation of Benevity The businesses develop their strategy and approach based on the goals that are sought to be achieved. The orientation of the business aligns with the strength, goals and target market demands that enables the business to develop their strategic direction accordingly. It is integral for businesses to achieve their goals by determining the orientation of the business (Grewal, Levy & Lichti, 2021). The business orientation of Benevity is a Value-Based Orientation that aims at benefitting society through its initiatives. The company aims at channelizing CSR activities and ensuring that all the employees of a company participate in contributing towards the social causes (Mullins, Walker, Boyd & Larréché, 2013). This consolidates the people together and deepens the pool of contribution from the people towards the social good. The entire burden of social responsibility is also not levied on the company and the staff members collaboratively work towards the goals of the organization. The Spark program of Benevity is destined to accomplish this goal and align the workforce of the companies to work collaboratively towards a larger goal. The activities of the Spark program not only connect the workforce but also aligns the organizations with their employees to meet the targets of social good (Grewal, Levy & Lichti, 2021). Some companies work at maximizing the internal benefits whereas the other models work at maximizing the external benefits. The product-centric organization work for internal goals whereas value-based organization work for accomplishing external goals. The value-based companies work for determining a business approach strategy that aligns with the goals of human welfare. Benevity has developed a business model that is inclined towards promoting CSR activities in the private 9 sectors and public sector organizations (Pride & Ferrell, 2021). The objective is to enhance profitability and engage the workforce towards accomplishing the desired goals of the organization. The burden of charity is dispersed with the workforce and the client company does not have to bear the burden of Corporate Social Responsibility. SWOT Analysis and Summary The company structure of Benevity can be evaluated through conducting a SWOT Analysis that provides an understanding of the internal and external factors. The internal factors are assessed through strengths and weaknesses and the external factors are assessed through the opportunities and threats that are available for the company (Grewal, Levy & Lichti, 2021). The analysis of Benevity as a company shows that the company has progressed at a dynamic pace through its innovation and strategic alignment with the goals of the customers (Proctor, 2014). The company provides dynamic Corporate Social Responsibility solutions to the clients that enable them to contribute and profit from the social actions in the long run. SWOT Analysis The company has a strong and vast portfolio of customers. Internal Factors The company generates a substantial annual revenue generated by the company. Strengths Offerings include vast options of products and solutions for the customers. Serving the global market through the generation of funds. 10 Providing CSR solutions to the organizations and motivating them to contribute on the tracks of social responsiveness. The solutions that are offered by the company are innovative and uniquely designed to meet the competition of the industry. The company is accessible for the clients through its modern and equipped solutions that allow connecting the workforce of the organization. The company has very few weaknesses that are connected with marketing initiatives. Competition in the industry is becoming fiercer. Sustainability initiatives of the businesses are Weaknesses becoming challenging due to the significant management of change over the years. The company benefits from this strategy and the employees have to contribute towards charity from External Factors their income generated in the company. Social challenges for the world are increasing. The need for making generous contributions is Opportunities increasing requiring businesses to contribute significantly. 11 The need for doing good for society must be increased in the people. The turmoil in the global economy due to the pandemic requires businesses to contribute more diligently. More businesses can be approached by the company for proposing the need for doing good. Competition is the biggest threat that may be faced by Benevity. Threats The business model of Benevity is unique and gives margin to new entrants to replicate the business initiatives. Innovation is essential for introducing new products and offerings in the industry. Benevity aims to attain a position that is sustainable for the business and its customers. The need for conducting CSR activities is increasing rapidly and this is increasing the momentum of the business. The motivation of the companies to engage towards social good is a beneficial initiative for the company and this is creating new opportunities of serving the needy communities of underdeveloped countries (Wilson & Gilligan, 2012). Target Market Analysis and Positioning The determination of the target market for the business is extremely integral for the company as it is the basis of deriving services to the customers. Benevity as a company works with corporate organizations assisting them with employee management solutions. The target 12 market analysis of the company will be done by evaluating the demographic, geographic, psychographic and behavioral description of the customers. Demographic Description The customers of Benevity are mainly the employees working for corporate organizations. The age bracket of the customers can be of any age segment based on the condition that the employees shall be working for the organization. The limitation of demographics is based on the employment of the workforce with the organizations that are clients of Benevity (Schoemaker, Krupp & Howland, 2013). Geographic Description The geographic location of the customers does not matter as Benevity is a global business with operations spread globally. The company provides services to corporate clients irrespective of where they are located. The software-based solutions of the company are suitable and equipped to meet different language requirements (Baker, 2014). Psychographic Description The psychographic environment of the customer’s needs to be focused on charity. The CSR activities can only be completed when the employees of the organization are focused on donating money for the welfare of people from third-world countries (Grant & McCutcheon, 2014). Behavioral Description The behavioral attributes of the employees of the organizations must be equipped to serve for social good and work hand in hand towards accomplishing the goals of the competitor organization. The behavioral description of the workforce must be aligned with the goals of the 13 organization that will assist the employees towards contributing to the social wellbeing of the people (Financial, Lines & Holdings, 2021). Competitor Analysis The major competitors of Benevity based on its positioning in the industry includes the following companies: Blackbaud Submittable Bright Funds CyberGrants Goodera Funraise Benevity is a company that provides specific solutions to the corporate customers for handling their Corporate Social Responsibility initiatives and provides solutions for employee engagement through software. Perceptual Map The perceptual map for Benevity measuring the performance of competitors is shown below: 14 1 Blackbaud Green 2 Submittable Blue 3 Bright Funds Red 4 CyberGrants Yellow 5 Goodera Purple 6 Funraise Maroon Conclusion and Recommendation The strategic alignment of Benevity with the goals of the corporate organizations is extremely important. The goals of employee engagement must be addressed by the company so that the desired outcomes can be accomplished (Bernardino, 2021). The assessment of the SWOT Analysis and the target market analysis shows that Benevity has a strong portfolio of customers in the industry. The company is focused to provide CSR solutions to the companies that are seeking to conduct well and benefit the employees of the company. The innovation and creativity of the businesses for conducting social good are integrally important as it offers personalized solutions to the customers (Bernardino, 2021). The assessment of the SWOT of the company shows that the business is highly sustainable and has a huge customer profile that strengthens the future development of Benevity as an employee engagement company. 15 References https://benevity.com/ Grewal, D., Levy, M., & Lichti, S. (2021). Marketing. Fifth Canadian Edition. Baker, M. J. (2014). Marketing strategy and management. Macmillan International Higher Education. Berman, B., Evans, J. R., & Chatterjee, P. (2018). Retail management: a strategic approach. Pearson Education Limited. 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