RJFT Task 2
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