Organizational Management: Utah Symphony Strengths
Organizational Management – Task 2
Utah Symphony Strengths
Financial
The Utah Symphony Orchestra (USO) has a long a deep history as an arts organization. This success directly related to the contributions of two major heads of the organization, Mr. Abravanel and the current music director Keith Lockhart. This long history has allowed them to grow their endowment to over $817,000 as of the end of 2001.
Part of the great success of the organization has also to do with the international notoriety of the organization. With that notoriety comes extra touring concerts as well as recording contracts to supplement income from local performances and fundraising efforts. Because of this long history and notoriety this allows them to be …show more content…
Instead only the administrative staff occupy the payroll. Under this model the organization can watch expenses fluctuate close to directly with revenue and performances.
Ms. Ewers has a long and successful history of fundraising for this and other organizations. This gives the board greater assurances that the financial well-being of the organization is being watched after closely for the current season and building into the future.
As we can see in the balance sheet the investment income is growing year over year, this is also a sign that sufficient cash is being held by the organization in order to earn interest and help fund the organization into the future, even if this growth is only slight.
The UOC maintains a much smaller budget than the USO, however the growth potential under Ms. Ewers current operating model may lead to a flip in those roles. The UOC records substantial surpluses from year to year, even though that surplus drops from 2001-2002. Because of the assets the UOC has, they have a great capacity for a secondary revenue stream of renting out their sets and costumes to other Opera houses and theatrical organizations, a growing source of income for the …show more content…
The business model is to maintain and improve production quality while showing a unified front as one well-rounded organization.
Financial
Strategic Goal: Growing healthy endowments for a joint organization through synergies between two power-houses in the arts.
Critical Success Factor: Finding overlaps in administrative and operational outputs to minimize duplicative staffing efforts and merging teams.
Measure: Having higher endowments in the greater organization.
Customer
Strategic Goal: To maintain a single world-renowned organization for both art forms producing sold out productions on each.
Critical Success Factor: Building an inclusive organization with joint performances showing the synergy of both organizations and how together they are better than their individual parts.
Measure: Monitor the world rankings of Operas and Symphonies to make sure neither drop in reputation and to receive positive reviews outside our local market as a unified organization.
Internal
Utah Symphony Strengths
Financial
The Utah Symphony Orchestra (USO) has a long a deep history as an arts organization. This success directly related to the contributions of two major heads of the organization, Mr. Abravanel and the current music director Keith Lockhart. This long history has allowed them to grow their endowment to over $817,000 as of the end of 2001.
Part of the great success of the organization has also to do with the international notoriety of the organization. With that notoriety comes extra touring concerts as well as recording contracts to supplement income from local performances and fundraising efforts. Because of this long history and notoriety this allows them to be …show more content…
Instead only the administrative staff occupy the payroll. Under this model the organization can watch expenses fluctuate close to directly with revenue and performances.
Ms. Ewers has a long and successful history of fundraising for this and other organizations. This gives the board greater assurances that the financial well-being of the organization is being watched after closely for the current season and building into the future.
As we can see in the balance sheet the investment income is growing year over year, this is also a sign that sufficient cash is being held by the organization in order to earn interest and help fund the organization into the future, even if this growth is only slight.
The UOC maintains a much smaller budget than the USO, however the growth potential under Ms. Ewers current operating model may lead to a flip in those roles. The UOC records substantial surpluses from year to year, even though that surplus drops from 2001-2002. Because of the assets the UOC has, they have a great capacity for a secondary revenue stream of renting out their sets and costumes to other Opera houses and theatrical organizations, a growing source of income for the …show more content…
The business model is to maintain and improve production quality while showing a unified front as one well-rounded organization.
Financial
Strategic Goal: Growing healthy endowments for a joint organization through synergies between two power-houses in the arts.
Critical Success Factor: Finding overlaps in administrative and operational outputs to minimize duplicative staffing efforts and merging teams.
Measure: Having higher endowments in the greater organization.
Customer
Strategic Goal: To maintain a single world-renowned organization for both art forms producing sold out productions on each.
Critical Success Factor: Building an inclusive organization with joint performances showing the synergy of both organizations and how together they are better than their individual parts.
Measure: Monitor the world rankings of Operas and Symphonies to make sure neither drop in reputation and to receive positive reviews outside our local market as a unified organization.
Internal