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Strengths and Weaknesses of the Utah Symphony Before the Merger: An Analysis

Good Essays

Analyze the financial and leadership strengths and weaknesses of the Utah Symphony before the merger. 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. Recommend the key steps Anne should take to address these weaknesses to ensure a successful start of the merger. The following list is actions that Anne should utilize to address the weaknesses to guarantee a successful start of the merger: Analyze the symphony's financial status by observing the prices of the tickets and figure out how to keep the sale price as close as possible to their current rate. Discover ways to get rid of deficits and keep the above average endowment intact. Keith Lockhart should remain the music

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