What did Jonathan Edmunds mean when he said the club had made an investment in the rodeo?
Jonathan Edmunds the president and the CPA of the "Circular Club" remarked that "The club made an investment in the rodeo" as opposed to losing money. What Mr. Edmunds meant is that the club has actually made an important investment in the rodeo which can have a significant positive effect in the club's financial progress in the future if the financial plan is done in a strategic manner. In its first attempt, the yearly rodeo failed to make positive financial progress leading to some members of the club wishing not to continue with the rodeo. Nevertheless, Pro Rodeo made by Circular Club seems to have ignited the crowd basing on tickets sales made. The committee of Circular Club Rodeo was prepared not to make significant profits but they went ahead with the plan mainly to create awareness among the community. The elected president of the "Circular Club of Auburn" in Kansas, Shelley goal was to bring in an activity that would break even during the first year by becoming a yearly community event and thereafter raise $ 5,000 the coming year.
Being a leader, Mr. Edmunds knows that an event like a professional rodeo requires the club to have better strategic plans and accounting tools which can enable monitoring of activities and have control measures to ensure profit is realized in the future. Furthermore, Mr. Edmunds also knows that running such an organization (civic) demands a sound planning, time investment, and constant hard work. The organization would be more exposed to the community through the annual rodeo as compared to doing nothing. Circular Club of Auburn being a civic organization uses channels such as rodeos to give back to the community which is key to its overall success. Mr. Edmunds' mentality is based on building and growing an investment partnership that will guide his organization to more success in the near future. Regardless of the nature of a partnership, what determines its success is two or more organizations having a common goal and willing to share all risks that come along (Roberts & Siemiatycki, 2015). Moreover, investing in the Circular Club Rodeo will open the club to other potential sponsors and investors. There will also be big sponsorship, new members volunteering and future successful rodeos dues to the vast amount of advertisement leading that lead to the filter of new tickets sales.
Is his comment consistent with Shelley's idea that the club should have a fundraiser that would: Continue to get better each year. Give back to the community. Provide the club a presence in the community? Why or why not?
Mr. Jonathan Edmunds remarks are consistent with the ideas that Shelley had for the club that it should have a fundraiser that would "Provide the club a presence in the community, give back to the community and continue to get better each year. After the committee in charge of rodeos requested for CPA evaluation and performance review, it was clear that no much profit was made in the first year. Nevertheless, this first rodeo event gave or enhanced Auburn Circular Club's visibility in the community, a chance to create awareness about the club to the community and position it in line for future events. Just like Shelley, Mr. Edmunds see the annual rodeo as an event that will increase the profits of the organization and more so have a positive and long-lasting relationship with the community. Additionally, Mr. Edmunds' views on an annual rodeo with the support of Shelly do believe that through community events that enhance community involvement and family activities, Auburn Circular Club Pro Rodeo serve the community appropriately and still make necessary profits.
Roberts, D. J., & Siemiatycki, M. (2015). Fostering meaningful partnerships in public-private partnerships: innovations in partnership design and process management to create value. Environment and Planning C: Government and Policy, 33(4), 780-793.
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