Utah Opera Symphony 2 - 3342 Words

In order to develop an action plan for Anne Ewers we need to analyze and understand the financial and leadership strengths and weaknesses of the Utah Symphony Organization (USO) and the Utah Opera Company (UOC). In order for the merger to be successful, Anne will need to create some successful strategies for managing each of these concepts. Utah Symphony Strengths The most impressive financial strength that USO has is their endowment. By the end of 2002, their endowment was considered higher than average and they were considered at the top end of a Group II Symphony when compared to other symphonies nationally. The Utah Symphony endowment was $10 million. Another financial strength was the projected growth in contributions and†¦show more content†¦They also have support from local and national organizations. As far as leadership goes, Anne has a lot of experience with the Opera. She has helped reduce their debt while increasing the budget. She grew it from $1.5 million to $5 million during her 11-year tenure. She has been responsible and very successful at increasing the fundraising income (including donations from outside the state. Even the projected contributions is expected to increase by $653,954). She has a reputation of being loyal, enthusiastic and very well capable. For example, she inherited a debt of $450,000 from her predecessor while in Boston. Not only did she retire that debt, but she also created an endowment fund and increased the number of productions from one to three. Overall projections are expected to increase by $374,843. Utah Opera Weaknesses Financially, the revenues for performances has continually declined. Even the projected sales has declined by $294,277. Government grants are 1/3 less that what the symphony gets and is also projected to decrease by $18,440. The UOC was not without their share of leadership weaknesses as well. Leslie Peterson resigned as the Director of Operations at the beginning of the merger proposal. Being the daughter of the founder, Glade Peterson, essentially gave a black eye about the merger from a public perspective. ThisShow MoreRelatedUtah Symphony and Utah Opera: a Merger Proposal Essay1063 Words   |  5 PagesUtah Symphony and Utah Opera: A Merger Proposal The Utah Symphony (USO) and the Utah Opera (UOC) Merger was a union that was brought forth by the leadership committee at the USO in Salt Lake City. The proposal was an opportunity to strengthen a struggling symphony with a financially sound opera company. Although mergers between opera and symphony companies in the United States had been successfully in the past, the merging of a two major companies had yet to materialize (Delong Ager, 2005, pRead More Utah Symphony and Utah Opera Merger1413 Words   |  6 Pages1. Bill Bailey, chairman of the board of the Utah Opera Organization, could use McClelland’s need theory to support the merger with the Utah symphony based on the three principles that are entailed in the theory; need for achievement, need for affiliation, and need for power (Kreitner Kinicki, 2010, p. 215). Firstly, the need for achievement is met by understanding that people strive to master difficult situations, endeavors or challenges. This idea works on both an organizational level, asRead MoreJft2 Task 21452 Words   |  6 PagesJFT2 Task 2 Detailed Guidance The key to doing well on this task is detail. Several sections require that you analyze information. This requires that you read carefully, think deeply and show your insight that you gained from the information provided in the case study. A1. Utah Symphony Strengths and Weaknesses When picking out the strengths and weaknesses of symphony there isn ¿t a list to which you can refer. Rather, you will want to read the case study carefully and to use your insight toRead MoreRjft Task 24141 Words   |  17 PagesRJFT Task 2 A1: Utah Symphony Strengths and Weaknesses Financial Strengths ï‚ · Total endowment in 2001-2002 was $10million, at the high-end of all Group II orchestra’s ($8.8million) (Delong, 2005). ï‚ · Total revenue and contributions are increasing from FY 2000 ($12.398 million) to FY 2001 ($13.763 million) by $1.365 million. This is primarily led by a $680k increase in performance revenues (driven by increased ticket prices) and $620k increase in contributions (from individuals, corporations, andRead MoreOrganizational Management26375 Words   |  106 Pagesthe â€Å"Utah Symphony and Utah Opera: A Merger Proposal† case study. You will develop a proposed action plan for the new leader, Anne Ewers, to help her in the development of a new strategy to measure the success of the ongoing merger process. The strategic goals for the first year of the merger include the following: †¢ Integrate the business processes of the two companies †¢ Reduce overall expenses as a percentage to profit †¢ Retain key employees †¢ Maintain audience base for both the Utah OperaRead MoreWgu Jdt2 Task 24523 Words   |  19 PagesOrganizational Management Task 2 Western Governors University JFT2 Organizational Management Task 2 A1. Utah Symphony Strengths and Weaknesses The Utah Symphony has been a leading arts organization in the western part of the United States for decades. They have a rich, long history. Many strengths have contributed to this success and continue to do today. Financially, the organization is able to raise money through various means. For the fiscal year 00-01, the symphony was able to raise $3.8Read MoreJft Task 2 Essay5040 Words   |  21 PagesUtah Symphony Analysis Financial Strengths: The Utah Symphony received approximately 5% of its incoming from their endowment fund annually. The organization raised $3,829 in revenue from rental fees, sets, props, costumes, box office, etc. However, the symphony believes that the fundraising contributions are sufficient enough currently to allow ticket prices to remain the same as the prior year is successful. The up side is that there was a $116,308 in surplus at the end of the year. Utah SymphonyRead MoreRjft Organizational Management Task 23102 Words   |  13 PagesManagement RJFT2 Task 2 A1. The Utah Symphony was recognized as a Group II orchestra. Group I and Group II are distinguished by the endowment amount and level of annual expenditures. For the year of 2001-2002, the average endowment for Group I orchestras was around $76 million and $8.8 million for Group II orchestras. The Utah Symphony came in just shy of $12.2 million in 2000-2001 and was projected to be upwards of $13.7 million for 2001-2002. That being said, the Utah Symphony was considered toRead MoreOrganizational Management Task 22461 Words   |  10 PagesOrganizational Management Task 2 A1. The Utah Symphony and the Utah Opera have combined into one company. Anne Ewers is the new leader of the combined companies. This paper will help her in the development of a new strategy to look at the success of the merge. The Utah Symphony is a group II orchestra. This is based on the level of expenditures every year. In the year of 2001-2002 the average expenses were around 8.8 million for group II orchestras. The Symphony spend around $12.2 millionRead MoreEssay on Utah Symphony and Utah Opera: a Merger Proposal Case Study8795 Words   |  36 PagesUtah Symphony and Utah Opera: A Merger Proposal Case Study William Bailey As Chairman of the Board of the Utah Opera, William Bailey has a pivotal role in the Utah Symphony and Utah Opera merger proposal. Mr. Bailey seemed to understand the financial and operational differences of the two organizations. As he stated, â€Å"the opera had a reserve fund and was financially stable and because of the business model could be flexible and adjust the size of the opera or eliminate projects that had not reached