The Utah Symphony Before The Merger Management Essay

The universal snip Symphony Before The Merger Management Essaymultiple financial and leadership strengths and weaknesses of the do Symphony, which were in place before the spinal fusion. The Symphonys main financial strength was their endowment fund, which was to a greater extent than $10 million. The revenues that were earned as a result of the performance of all everyplace 200 concerts earn more than $3 million in the year 2000. All of the musicians had signed contracts with the Utah Symphony, which put into agreement a yearly profits for each someone in return for their work. The companys main financial weakness is that it was not able to make changes to the amount that the media shows were paid per year since the decisions for amount of pecuniary resource for each contract were set in stone in previously agreed upon by the leaders of the Symphonys board. After the terrorist attacks of, stock market crash, and Americas recession. on that point was a large decrease in th e the sales of tickets for the Symphony, and many other visual and performing arts facilities in this country. These events also calls many of the foundation pledges of supporting governings to travel a unfulfilled because those organizations were also going through a financial crisis due to the economy. The main leadership strength of the is Keith Lockhart who is the Symphonys director of music. He presents the role of a true leader by helping divulge his musicians in the building them into one of the top 20 symphonies in America. The leadership weakness is that the CEO of the Symphony, Scott Parker is resigning from his position.A1a.In this section I will recommend the key steps that Anne should take to address these weaknesses to ensure a successful initiate of the merger1. hit the books the problems that twain organizations had been facing before the merger.2. Discuss the details of the merger with the leaders of both organizations.3. Discuss the details of the previous co ntract and salary agreement for the musicians, so that everyone could be sensitive what types of decisions should be avoided.4. Interview potential candidates who are qualified and can take the position of the previous CEO.5. Inform the musicians and employees of the advantages and disadvantages that whitethorn occur if the merger whitethorn or may not take place.6. Provide feed jeopardize to all who book concerns or ideas that could subjoin the success of the merger.7. Produce a balanced scorecard, which shows the strategic goals of the merger.A2.There are multiple financial and leadership strengths and weaknesses of the Utah Opera, which were in place before the merger. The main financial strength is its endowment fund and the amount of $5 million. The opera also had assets in the amount of $4.8 million in performance equipment and landscape ownership. The hardwork and support in fundraising by Anne Ewers lead to the paying glum of $450,000 in bills of the organization. The fi nancial weaknesses of the opera before the merger are lower profits from revenues of decreased tickets sales and fundraisisng events. There is also adequate funding to make up for the attach in annual expenses. The main leaderdship strength is the support and work ethic of Anne Ewer. She has been working for the organization for eleven years and lead in the accomplishments of promoting fundrisiang andhelping the organization to get out of debt. The organizations leadership weakness is the lack of negotiationg that is allowed for the musicians salaries Another weakness is that it also no longer has its director of operations, Leslie Peterson to back them up in their efforts since that person is no longer with the organization.A2a.In this section I will recommend the key steps that Anne should take to address these weaknesses to ensure a successful start of the merger1. Analayze the budgets and financial performance of the organization to determine the areas of weakness.2. Have weekl y meetings with all the leaders of the organization.3. Brainstorm to obtain all possible ideas that could ensure that the mergers gets started eat up on the right track.4. Assign job tasks to all of the leaders so that they could aid in the support of the merger.5. Create naked guidelines for the collective bargaining process.6. bod more fundraising opportunines for the Opera to raise money.7. Research and request redundant grants that would support the merger.A3.Utah SymphonyFinancial The financial position shows the financial goals that the organization lack to achieve in the future. It also shows what the budgeting and fundraising that needs to 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 is aware that they have to work hard to maintain a audience because they are the main source of in gravel for the ticket sales. They must always provide quality performances to menti on their current customers and attract unexampled ones.Internal Process The internal process aspect focuses on increasing the funding that the organization receives. The symphony must come up with radicalborn ways to earn money through fundraising it can promote profability. Adherance to budgets would also be unspoilt for them because it can allow them to steer out-of-door from spending too much on expenses which they cannot afford.Learning and Growth The learning and growth aspects can greatly contribute to strengthen the Symphony at this time in the economy. The performance should be fexible and not stick to one standard performance, so that it could attract new audiences which were not previously interested in what they had to offer.Utah OperaFinancial The financial aspect focuses on the goal to have a financially strong opera by increasing the endowment funds and promotion of fundraisers. It would be a working progress since they are not currently financially stable but the ir productivity will pay off in the long run.Customer The opera needs to increase the attendance of the performance. They can do they using new marketing techniques and lowering the prices of the tickets so that more customers would be progressd to attend the performances. This could lead to the opera becoming recognized on the national and regional levels.Internal Process The internal process aspect fouses on keeping quality musicians on staff and attracting new talentsed musicians. This could lead to a financially stable opera because they would have the talent to back them up in their efforts. This talent would also encourage the customers to spread the word to others about the astounding performances of the musicians.Learning and Growth The learning and growth aspects focus goals to increase the amount of tickets that are being sold at the performances and also increase its endowment funds. They are able to achieve this by maintain quality performances and incorporating new wa ys to attract customers to the performances.The scorecards for the opera and symphony both represent the differing cultures and visions of the company by focusing on the desires of the people in society while at the same time increasing its profitability. Their visions of becoming a world class symphony and nationally renowned opera can be accomplished by keeping their customers happy by giving performances that go above and beyond their expectations. The scorecards for both addresses their strengths and weaknesses because it lists important details of the factors that strengthen than and also the factors that are not beneficial in promoting their stability.B. Balanced ScorecardBalanced ScorecardThe vision for the unite organizations is to become a unified world class and nationally renowned organization.The logical argument model is to provide high-quality performances which would result in an increase in profits and endowment funds.Financial strategical Goal Become financially st able by increasing revenues received annually. small Success Factor Increase fund raising and endowments.Measure Increase the reserve fund and organization profitability.CustomerStrategic Goal Focus on the desires for their performances regionally, nationally, and around the world.Critical Success Factor Hire talented musicians who can aid in the success.Measure Reach out to society, sell out performances, and receive feedback after performances.Internal ProcessStrategic Goal Sustain financial flexibility by decresing expenses and recruiting new talented musiciansCritical Success Factor Ensure that the contracts of the musians are renegotiated.Measure Improve profibalitiy and increase ticket sales.Learning and GrowthStrategic Goal Increase the varitety of performances to attract new audiences.Critical Success Factor Develop new marketing plans to increase revenues.Measure Increase ticket sales and sustain a returning audience.C. Analyze the strengths and weaknesses of the proposed m erged company, addressing thefouraspects of the scorecard you developed in part B.Financial Strenghts This merging would offer the necessary supplies, cost discount rates in management, exercising and purchasing that the company needs to help maintain functions while maintain solution prices. They would also benefit from the mixed fundraising events, and increase in revenues from the ticket sells from the combined larger audience that would be in attendance for the performances.Financial Weaknesses Both of the organizations have to efficiently market this merging to the public to be able to have a increase in the size of the audience due to he viewer being unfamiliar with the experience of a merger. The organizations must also hold new musicians who are more talented than the current ones on the staff so that the audience would be motivated to attend the performances.Customer Strengths The merging would be regarded an achievements if it is able to entice a new viewers while crea ting sure that the activities are developed to provide them what they want to see. Additional performances would allow flexibility and encourage more viewers to attend since it would fit with their schedules.Customer Weaknesses The merging could be regarded as a failure if the viewers are not impressed by the skills of the performers . They could also be discouraged from attending it the quality of the performances do not meet their expectations.Internal Process Strengths Both of the organizations have hardworking leaders whose efforts would be used toward ensuring that the merger is a success and overcoming obstacles that they may face in the future. This would result in a stronger management team that could be a horse sense for the organization and its musicians.Internal Process Weakness The merger could be considered a failure if the organizations are not able to renegotiate the salaries of its current musicians. This could result in the musicians leaving the organization, and a lso the inability of the organizations to recruit new musicians due its current situation.Learning and Growth Strengths The merger could lead to a variety of performances which would attract new viewers who were not previously interested in performing arts. It would also increase the talent of the musicians by allowing them to teach each other new skills that they may have not known before.Learning and Growth Weakness The merger of the organizations could possibly present an obstacle because their expenses are more than the revenues. If the amount of the revenues are not increased in the future to take care of the expenses, the merger would be a failure and increase the debt of the organizations.D. Identifyonehighly probable have sex that could arise during the merger process foreachof the following areas Finance Human resources Customer satisfactionFinance The merger could result in a increase of overhead and operating expenses since there would have to be a increase in space to a ccommodate the combine audience and the group of musicians. This could be over come by increasing the amount of fundraising that both of the organizations promote each year.human resources The staff of the human resource department could feel like the merger has become a burden for them because they now have more job tasks to deal with due to the increase in staff. If the organizations do not hire additional employees for the human resource departments, their merging efforts could lead to much confusion.customers satisfaction The satisfaction of the customers decrease if the talents of the opera are not increase to equal to the amount of talent as the symphony. Both organizations have skills, but the symphomy has become more established by reaching larger audicences and obtaining higher revenures in ticket sales. If the musicians from both organizations do not practice as a group, the customer could notice a difference in lower quality of the performances.D1.Finance To efficiently c reate new fundraising events, selected board members from the opera and symphony would need to evaluate their previous successful fundraising events concepts and create a plan for applying new finance 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 share wheir management techniques.Customer Satisfaction To be able to keep an open line interaction with their customers, the staff must create a survey to be able to receive reviews from their new and breathing customers, also by developing a strong strategy as a way of hiring new customers.