Task 2

Topics: Orchestra, Balanced scorecard, Opera Pages: 8 (2610 words) Published: May 13, 2013
Cristina Nielson
RJFT Task 2
Action Plan
When this merger was decided it was called into action because of the weakness within the Utah Symphony Orchestra and the Opera. Both are great companies but both could use the strengths of the others to improve. This paper will explore the leadership and financial strengths of both companies as well as a complete overhaul of the balanced scorecard of the businesses. Below I have listed the strengths and weaknesses of the leaders and financial aspects of the Utah Symphony Orchestra. Utah Symphony Orchestra

Financial Strengths Financial Weaknesses
Performing over 200 concerts generating income. Ranked in Group II for budget Expected income supposed increase by 1% in future. Expense increases expected of 2.5% High revenues from concerts Decline in public subsidies

Increase in competition of public funding
Low deficit at the end of the year.
Carry burden of pledges not paid
Leadership Strengths Leadership Weaknesses
Experienced conductor in the Orchestra organization. Resistant to change Has a great background in TV (helps in marketing) Would prefer to cling to existing model for organization. Has the ability to lead Spends too much on fundraising efforts. Helped the Orchestra obtain the top orchestra spot in the 8 rocky mountain states. Protects his employees and ensures that opinions are heard

The hardest part for Anne will be addressing these weaknesses. There are steps that Anne can take in order to address these problems. The steps that need to be taken are shown below: 1. Sit down and analyze the increase in expenses.

2. Come up with ways to combat the increase in expenses. Look into more fundraising. 3. Increase public awareness of the problems facing the Symphony. 4. Apply for more public subsidies, regardless of the decline in them. 5.Increase awareness of concerts to increase profit.

6. Sit down board and all leadership officials and have a question period. 7. Meet concerns with strict answers so any fear of change is understood. 8. Present the new business model and scorecard to allow all leadership to understand the goals of the new organization. 9. After all the steps have been taken Anne will continue to monitor and change aspects as needed. The next step is to analyze the Utah Opera. Below I have listed the strengths and weaknesses of the leaders and financial aspects of this organization. Utah Opera

Financial Strengths Financial Weaknesses
Has financial support from local and national organizations. Revenues decreased from performances. Have great low cost fundraising efforts. Having trouble breaking into other areas that can generate them more income. Low cost to program expenses Has a lot of expenses related to props and costumes. Increase in the endowment fund. Not making enough in fundraising efforts. Contributions increased over the years. Does not get much in the way of grants to help the company. Leadership Strengths Leadership Weaknesses

Anne has years of experience with the Opera Anne has a lot to expand through and focus on. Helped reduce any debt associated with the Opera. Anne has to constantly be looking to create performances and generate more income. Worked hard and got the budget increased for the company. Not all management is on board with the merger. Operations manager resigned. Knows how to fundraise very successfully. Anne having trouble getting the community on board with merger. The key steps that Anne should focus on in this area are how to integrate the Opera into the culture of the Orchestra. Anne's action plan is shown below: 1. Address the financial weaknesses.

2. Create more fundraising for Opera.
3. Create community awareness of problems facing the Opera. 4. Create a new diverse performance list to increase profit. 5. Find places to cut expenses related to props and costumes. 6. Apply for various more grants to see if more help can be given to the Opera. 7....
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