Utah 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, p
Utah 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, “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
Organizational Management JFT2 Task 1 Utah Organizational Management JFT2, Task 1: Utah Symphony & Utah Opera Proposed Merger Analysis Utah Symphony & Utah Opera Proposed Merger Analysis 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
1. 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, as
the “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 Opera
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
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 to be at
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
A)- Action Plan A1- Financial and Leadership strengths and weaknesses of the Symphony- 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. The Symphony does have some financial strength. The Symphony does experience a high volume of the sales of their tickets. They also hold
Corporate Governance rules.1 DC reconcile regulatory differences and the diverse expectations of various stakeholders around the globe? There was agreement that corporate governance ‘had to be lived’, but how? Ever since the announcement of the merger between Daimler-Benz AG and Chrysler Corporation in May 1998, the company had been in the spotlight. The merged company, DaimlerChrysler (DC), was a full-range provider controlling six car brands and eight truck brands. In addition, DC acquired strategic