multiple financial and command strengths and weaknesses of the Utah Symphony, which were in place prior to the merger. The Symphonys main financial power was their endowment account, that was more than $10 million. The profits that were earned therefore of the performance of over 200 concerts earn more than $3 million in the year 2000. All of the musicians had signed agreements with the Utah Symphony, which placed into agreement a every year salary for each person in return for their work. The company's main financial weakness is the fact that it had not been in a position to make changes to the amount that the marketing shows were paid per calendar year because the decisions for amount of cash for each agreement were set in stone in previously agreed after by the market leaders of the Symphony's table. Following the terrorist problems of, currency markets crash, and America's tough economy. There was a substantial decrease in the the sales of seat tickets for the Symphony, and a great many other aesthetic and performing arts facilities in this country. These incidents also calls many of the foundation pledges of supporting organizations to become a unfulfilled because those organizations were also going right through a financial meltdown because of the economy. The main leadership strength of the is Keith Lockhart who is the Symphony's director of music. He presents the role of a genuine leader by aiding out his musicians in the building them into one of the very best 20 symphonies in the us. The leadership weakness would be that the CEO of the Symphony, Scott Parker is resigning from his position.
A1a.
In this section I'll recommend the key steps that Anne should try dwelling address these weaknesses to ensure a successful start of merger:
1. Analyze the problems that both organizations have been facing before the merger.
2. Discuss the details of the merger with the leaders of both organizations.
3. Discuss the details of the prior agreement and salary agreement for the music artists, so that everyone could be aware what types of decisions should be prevented.
4. Interview potential prospects who are licensed and may take the positioning of the previous CEO.
5. Inform the music artists and employees of the advantages and down sides that may occur if the merger may or may not happen.
6. Provide opinions to all who've concerns or ideas that could raise the success of the merger.
7. Create a balanced scorecard, which ultimately shows the proper goals of the merger.
A2.
There are multiple financial and control strengths and weaknesses of the Utah Opera, which were in place prior to the merger. The primary financial strength is it's endowment account and the quantity of $5 million. The opera also had assets in the quantity of $4. 8 million in performance equipment and panorama possession. The hardwork and support in fundraising by Anne Ewers business lead to the paying off of $450, 000 in expenses of the organization. The financial weaknesses of the opera prior to the merger are lower revenue from profits of decreased tickets sales and fundraisisng occurrences. There is also adequate financing to make up for the upsurge in annual expenses. The primary leaderdship strength is the support and work ethic of Anne Ewer. She has been working for the business for eleven years and lead in the achievements of promoting fundrisiang andhelping the organization to get out of credit debt. The organization's authority weakness is the lack of negotiationg that is allowed for the musicians earnings Another weakness is the fact that it also no longer has its director of businesses, Leslie Peterson to rear them up in their efforts since see your face is no more with the business.
A2a.
In this section I am going to recommend the main element steps that Anne should take to address these weaknesses to ensure a successful start of merger:
1. Analayze the costs and financial performance of the organization to determine the regions of weakness.
2. Have regular meetings with all the current leaders of the organization.
3. Brainstorm to acquire all possible ideas that could ensure that the mergers gets began on the right course.
4. Assign job jobs to all or any of the market leaders so that they could aid in the support of the merger.
5. Create new suggestions for the collective bargaining process.
6. Design more fundraising opportunines for the Opera to raise money.
7. Research and demand additional grants that could support the merger.
A3.
Utah Symphony
Financial: The financial aspect shows the financial goals that the organization want to attain in the foreseeable future. It also shows what the budgeting and fundraising that should be accomplished in order to meet these goals.
Customer: The customer aspect shows the organizations goals to meet the needs of its customers. The Sympony appreciates that they need to work hard to maintain a audience because they're the main source of income for the solution sales. They must always provide quality shows to keep their current customers and entice new ones.
Internal Process: The internal process aspect targets increasing the money that the organization will get. The symphony must produce new ways to make money through fundraising it can promote profability. Adherance to finances would also be good for them since it can allow those to steer away from spending too much on bills that they cannot afford.
Learning and Expansion: The training and growth aspects can greatly donate to strengthen the Symphony at this time throughout the market. The performance should be fexible and not adhere to one standard performance, so that it could attract new audiences that have been not previously thinking about what they had to provide.
Utah Opera
Financial: The financial aspect targets the goal to truly have a economically strong opera by increasing the endowment funds and campaign of fundraisers. It might be a working improvement being that they are not currently fiscally steady but their efficiency can pay off in the long run.
Customer: The opera must improve the attendance of the performance. They are able to do they using new marketing techniques and reducing the prices of the seat tickets so that more customers would be motivated to attend the performances. This could lead to the opera becoming identified on the nationwide and local levels.
Internal Process: The inner process aspect fouses on keeping quality musicians on personnel and appealing to new talented musicians. This could lead to a fiscally secure opera because they might have the expertise to back again them up in their attempts. This talent would also encourage the customers to spread the term to others about the astounding performances of the music artists.
Learning and Development: The learning and expansion aspects focus goals to raise the amount of tickets that are for sale at the performances and can also increase its endowment money. They are able to accomplish that by maintain quality performances and adding new ways to draw in customers to the performances.
The scorecards for the opera and symphony both represent the differing cultures and visions of the company by concentrating on the desires of folks in world while at the same time increasing its success. Their visions of becoming a world course symphony and nationally renowned opera can be achieved by keeping their customers happy by giving performances that beat their expectations. The scorecards for both addresses their talents and weaknesses because it lists important information on the factors that strengthen than as well as the factors that are not beneficial to advertise their stability.
B. Balanced Scorecard
Balanced Scorecard
The eyesight for the combined organizations is to become a unified top notch and nationally renowned corporation.
The business model is to provide high-quality performances which would bring about an increase in profits and endowment money.
Financial
Strategic Goal: Become fiscally steady by increasing revenues received each year.
Critical Success Factor: Increase finance raising and endowments.
Measure: Raise the reserve finance and organization success.
Customer
Strategic Goal: Focus on the desires because of their shows regionally, nationally, and around the world.
Critical Success Factor: Employ the service of talented musicians who can certainly help in the success.
Measure: Get in touch with society, sell out shows, and receive responses after performances.
Internal Process
Strategic Goal: Sustain financial overall flexibility by decresing bills and recruiting new talented musicians
Critical Success Factor: Make sure that the agreements of the musians are renegotiated.
Measure: Improve profibalitiy and increase ticket sales.
Learning and Growth
Strategic Goal: Raise the varitety of shows to entice new viewers.
Critical Success Factor: Develop new marketing programs to increase income.
Measure: Increase solution sales and support a returning audience.
C. Assess the talents and weaknesses of the suggested merged company, addressing the four areas of the scorecard you developed in part B.
Financial Strenghts : This merging would provide necessary equipment, cost discount rates in management, employment and purchasing that the company must help maintain functions while maintain solution prices. They might also take advantage of the mixed fundraising occurrences, and increase in revenues from the ticket offers from the combined larger audience that would be in attendance for the shows.
Financial Weaknesses : Both of the organizations have to successfully market this merging to the general public to have the ability to have a increase in how big is the audience credited to he viewer being not really acquainted with the experience of your merger. The organizations must also hire new music artists who are more talented than the current ones on the staff so that the audience would be encouraged to wait the performances.
Customer Strengths: The merging would be considered an achievements if it's able to entice a new audiences while creating sure that the actions are developed to provide them what they would like to see. Additional performances would allow overall flexibility and encourage more visitors to wait since it could match their schedules.
Customer Weaknesses: The merging could be regarded as a inability if the viewers are not impressed by the skills of the performers. They may be discouraged from attending it the grade of the performances do not meet their prospects.
Internal Process Advantages: Both of the organizations have hardworking market leaders whose work would be used toward ensuring that the merger is successful and overcoming obstructions that they could face in the future. This would bring about a more robust management team that could be a backbone for the business and its musicians.
Internal Process Weakness: The merger could be considered a failure if the organizations are not able to renegotiate the earnings of its current music artists. This could bring about the musicians departing the organization, as well as the incapability of the organizations to recruit new musicians due its current situation.
Learning and Development Talents: The merger could lead to a number of performances which would appeal to new viewers who weren't previously interested in performing arts. It could also increase the skill of the music artists by permitting them to teach one another new skills that they may have not known before.
Learning and Expansion Weakness: The merger of the organizations could possibly present an obstacle because their bills are definitely more than the earnings. If the amount of the revenues are not increased in the future to look after the expenditures, the merger would be a failure and improve the credit debt of the organizations.
D. Identify one highly probable issue which could arise through the merger process for every single of the following areas:
Finance
Human being resources
Customer satisfaction
Finance: The merger could bring about a increase of overhead and operating expenses since there would have to be a upsurge in space to support the combine audience and the band of musicians. This may be overcome by increasing the amount of fundraising that both of the organizations promote every year.
human resources: The staff of the human being resource section could feel just like the merger has become a burden for the coffee lover because they will have more job tasks to cope with because of the increase in personnel. In case the organizations do not seek the services of additional employees for the human resource departments, their merging work could lead to much misunderstandings.
customers satisfaction: The satisfaction of the clients decrease if the talents of the opera aren't increase to equal to the amount of expertise as the symphony. Both organizations have skills, however the symphomy is becoming competent by reaching larger audicences and obtaining higher revenures in solution sales. In case the music artists from both organizations do not practice as an organization, the customer could notice a difference in lower quality of the shows.
D1.
Finance: To efficiently create new fundraising events, selected board people from the opera and symphony would have to evaluate their prior successful fundraising situations ideas and create a plan for applying new financing increasing strategies.
Human Resources: To be able to efficiently settle agreements and incomes the management organizations must have a solid combined negotiating unit. The organizations could also reveal wheir management techniques.
Customer Satisfaction: To be able to keep an available line interaction using their customers, the staff must develop a survey to have the ability to receive reviews off their new and existing customers, also by creating a strong strategy as a way of hiring new customers.
