Jft2 Task2 Essay

1871 Words Jul 27th, 2013 8 Pages
JFT2 Task 2

A1) Financial strengths and weaknesses of the symphony

Financial weaknesses of the symphony are cash flow due to low fund raising, and high expenses resulting from artist compensation.

Financial strengths of the symphony consist of high ticket sales and a large amount of concerts performed during the year resulting in high gross revenue.

Leadership strengths of the symphony would be in part to Keith Lockhart's report with the musicians, and his artistic vision.

Leadership weaknesses of the symphony would entail the vacant CEO position and the changing of the chairman of the board during the merge.

A1a) Key steps
Anne should address financial weaknesses of the symphony by implementing higher fund raising
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Based on what can be inferred from the case study, I think the scorecard for the symphony is well built to suit the vision and the mission of the organization. On the measures, I think that for customer satisfaction they should tie it to a measurable number of a customer feedback score, or instance desiring to receive a 70% or above on customer exit surveys. For internal process, I think a target for the amount of improvement based on cash or percentage is necessary. Finally, for learning and growth, again I think that a target should be associated with the measure of increased ticket sales by 10% and a customer return rate of over 65%.

On the other hand, the score card for the opera may need some tuning. In the financial perspective the measure of increasing the reserve fund amount should be associated with a measurable percentage or other more concrete assessment tool.

In the customer perspective the strategic goal is having a nationally and regionally acclaimed and accredited opera, but the measure chosen for that is having sold out or near sold-out performances. This does not seem like the proper measurement for a customer oriented perspective.

For the internal process perspective, the goal is maintaining financial stability and attracting top talent, but the critical success factor is listed as having successful negotiations with selected performers. I don't see that this

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