RJFT Task 2 A1: Utah Symphony Strengths and Weaknesses Financial Strengths Total endowment in 2001-2002 was $10million, at the high-end of all Group II orchestra’s ($8.8million) (Delong, 2005). 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, and foundations) (Delong, 2005) Financial Weaknesses Forecasts for the industry expect a 2.5% expense increase and a 1% income increase (due to increased prices of ticket sales and a 4% attendance decline). For the Utah Symphony, program expenses …show more content…
7. Lastly, Anne could cut down on the number of performances to reduce the expenses (if the contract allows for that). From a leadership perspective, the main weaknesses are a vacant CEO position, which makes coverage for the responsibilities of that position difficult, especially in a time of a merger. Secondly, key members such as Keith Lockhart and Ms. Abravanel are skeptical and might be unwilling to support a merger. The following actions are recommended for Anne to take in order to alleviate the concern of these leadership weaknesses. 1. Anne will need to look at the total organizational structure of the combined entities. It is highly likely that there will be a number of duplicate positions that could be cut or changed. Either one of the cut positions could be this CEO position (potentially added to the position of Leslie Peterson from the opera). There will also be duplicate positions of director of finance, director of marketing, director of developments, artistic teams and so forth. A merger would absolutely present duplicate position that will need to be cut or reorganized. 2. It will be critical for Anne to layout the groundwork for the merger with defined goals, and cascade those goals down to the opera and symphony so that all parties are aligned. The opera and symphony would each determine their own sets of goals that would support Anne’s goals on the
In order to improve the shipping and handling process for the custom surgical packs, I feel that the first step should be evaluating the exact amount of inventory needed for one day operations. Once the exact amount has been accounted for, APH’s management department can use this data to help reduce the quantity of packs in the buffer from one day supply to smaller a number of packs, thus decreasing the expense. This action helps circle back to the main functionary goal of the JIT method, which is the elimination of waste within the company/organization
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.
The Utah Symphony shows financial weaknesses in several areas. Their cash flow is affected due to their low dollars in their fund raising area. They also experience a higher than normal expense rate that comes from the recompense that is paid to their artists that they employ.
In 2002, a proposal was made to merge the Utah Symphony and Utah Opera due to the failing economy, collapsing of the stock market, declining government financial support, and a waning of donations for the arts. The proposed merger would help both organizations by economizing on costs and expanding the artistic potential of both organizations. Each of the organizations need to support the decision in order for the merger to be successful. A1. Bill Bailey and McClelland’s Need Theory
A1. The Nature of the incident was that an employee was able to hack into the computer system and gain access to the financial payroll system, human resources and even email system. This employee used several methods in order to gain access into the system: IP spoofing, Data modification, Man in the middle attack and compromised-key attack. As a result the employee was able to tamper with payroll system. An auditor discovered the discrepancies and tried to make upper management aware of the situation through email, but the email was intercepted by the hacker. The hacker impersonated an employee and persuaded the auditor into granting him more access into the system which resulted in additional sabotage into the payroll system. Hacker
In the area of weaknesses, the biggest challenge was employee turnover. Even with the recession and the current job market good talent could and can be found, but it is hard to retain with the current compensation and benefit plans offered
As the chief information security officer for VL Bank, we were notified by several of our commercial customers of unauthorized wire transfers in an amount greater than $290,000. This is very concerning since we take pride in our information security.
She was referred to a diabetes care team for specialist treatment and monitoring when she was diagnosed with diabetes as diabetes can’t be cured but treated. Because its on-going the treatment is to ensure that her blood glucose level is as normal as possible, to control her symptoms and to prevent health problems developing later in life. Because Rhea’s body doesn't produce insulin, she needs regular insulin injections to keep her glucose levels normal as diabetes can cause serious long-term health problems. For example, it's the most common cause of blindness in people of working age. Because of this Rhea is encouraged to have her eyes screened at least once a year for diabetic retinopathy. Diabetes is also the reason for many cases of kidney
North St. Paul-Maplewood School District (622) is “A community collaborative dedicated to educating and empowering all learners to excel in our changing world.” With this mission at heart, the schools in Maplewood offer quality educational opportunities for the younger generation of residents in the area. Covering an area of 42-square miles, the district comprises all or small sections of seven cities within the Twin Cities northern metropolitan area. These include: North St. Paul, Maplewood, Oakdale, Lake Elmo, Landfall, Pine Springs and Woodbury. By covering such a wide range of cities, the district aids more than 74,000 residents, and the district services nine elementary schools, three middle schools, and two high schools. From highly qualified early-childhood teachers for the youngest children to nationally recognized programs at the high school level, District 622 is continually determined to be the best.
It has come to my attention from the security analysts of VL Bank and victims that commercial customers of VL Bank have been involved in identity theft and fraud. Multiple user accounts were created without authorization claiming the identity of our customers. These fake accounts were used to make twenty-nine transfers of $10,000 each, equaling $290,000. The bank transfers were being sent to several U.S. bank accounts of unknown individuals. The U.S. banks involved in the transfers were Bank A in California, Bank B in New York, Bank C in Texas, and Bank D in Florida. After the funds were transferred to one of these banks, the funds were
This information should be used as a catalyst for retaining this year’s core subscribers; a reward for this information should be a discount on early purchase of next season’s tickets. This should be a major goal since an early indication of next year’s subscriber base will give the symphony an idea as to if this promotion and changes are
Weaknesses: Lack of coordinated decision making is a weakness for LorPel. Victor, Aleksey and Igor do not seem to agree on the best way forward for the company. Each of these managers presents his own thoughts and none of them is willing to listen to the other in order to have an informed consent.
Firstly, the article claims that the Grandview Symphony has received double private contributions, therefore they won’t need any funds from the government anymore; however, what percentage are the private contributions take in part of the Grandview Symphony’s income? If the percentage is far lower than the government’s funding, private contributions can’t cover their costs. Furthermore, a number of private contributions may be more or less due to the economy, it is impossible to predict the economy in the
Weaknesses: Negative Image, low credibility, poor management decision, to big of a organization to make noticeable mistakes
Before the merger was utilized, the Utah Symphony faced financial issues of all kinds. Lacking the ability to negotiate the salaries of its employees proved to be a huge weakness for them. By being under contract, the employees were required to pay salaries regardless of the ticket sales. However, the above average endowments were a big strength. The Utah Symphony was second to a Group II symphony orchestra; as a result, was granted an above average endowment. A leadership strength for the symphony was that it contained two leaders known as Keith Lockhard and Scott Parker. When the CEO of the Utah Symphony declared resignation in 2002, this came to be another weakness for the symphony. Replacing the CEO of the Utah Symphony can be a hard and long process. Hiring a replacement proved to be a major issue for the Utah Symphony during this time period.