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Rjft Task 2

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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

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