Different ways of raising funds can be developed

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GETTING FUNDED READING RESPONSE FORM Name: Date: 10-4-2016 Chapters: 1,2 and 3 One paragraph summary: Organizations often find themselves in need of funds. Different ways of raising funds can be developed. One of the frequently used approaches to funding is taking grants. However, the approach has to be combined with something else. Successful grant seeking calls for planning and understanding of the trends in the field. The organization has to indicate readiness in dealing with the grant such that once the grant is disbursed, its use and responsibility centers are already defined (Hall, and Howlett 10). Organizations seeking grants also need to display that they have the need of the grant better than the competitors for them to validate why they should be the ones who are awarded the grant and not the other applicants.
Three – five key ideas (in list format): • The grant applicant has to display a deep understanding of the trends in the awarding of grants. • The organization has to display the complete plan that it has outlined such that once awarded the grant it will operationalize it.
• The organization has to indicate that it has a better need than the other applicants such that it would justify its preference over the other applicants (Hall, and Howlett 15). • Understanding of the grantors will define the ability of the applicant in developing the ideal working relations which will lead to better chances of getting the grant.
Reactions – Insights – Most important implications and questions: As a result, grant seeking extends beyond mere application for funds from the different sources of funds. The grant market is diminishing due to different changes. Therefore, a grant seeker has to develop a plan that entails the exit strategy. Planning for a grant includes the understanding of the organization and how the grant will impact its effectiveness. The planning stage tends to hold the most important implications; hence, understanding the need is important (Hall and Howlett 19).