The necessity to combine the Utah Symphony and the Opera is based on the ever changing environment that supports the arts community. There have been seismic changes in the economic landscape throughout the entire country over the past few years. These changes have created shortfalls and limitations on external funds donated to help fund the arts in and around the Salt Lake Community.
You people represent the newly merged boards of the Utah Symphony and Utah Opera. We would like to take some time highlight the strategic goals set forth for the newly formed organization. At the end of this presentation you should have a firm knowledge of each individual company. You will be aware of their strengths, weakness and the differences in their cultures. In addition, you should have an understanding of how the newly formed organization will operate and continue to provide services to the community.
Goals for Today:
Explain where each company is on the competing values framework diagram. How this will affect the merger process? Design a mission and vision for the newly formed company that will: * Integrate the process of the two companies * Reduce the overall expenses as a percentage of profit * Retain key employees * Maintain audience base for both the opera and the symphony * Identify and pursue synergistic opportunities between the two companies This merger process involves the combining of cultures, operations, administration, staff, leadership, vision, direction, and missions of each organization into one symbiotic entity. When any type of merger takes place it is paramount to evaluate where each individual company values fall in relation to the above depicted Values Framework. To create a synergy between the two companies moving forward we should evaluate where they are in their current state.
According to their 2010 book Organizational behavior, Kreiter & Kinicki tell