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strategic management 5th
Arts Management 1st Edition Carla Walter - Solutions
Relate the process of engagement to the cultural arts consumption purchase decision process. P-968
Explain why metaphors matter in designing cultural arts service quality delivery. P-968
Differentiate between functional and subjective cultural arts service product quality in cultural arts organizations. P-968
Explain why gaps between consumers’ expected and perceived cultural arts service quality need to be closed. P-968
Develop blueprints and maps for functional and subjective cultural arts service product quality offerings. P-968
Utilize tools to measure both types of cultural arts service product quality. P-968
Explain the differences between the metaphor of drama and the metaphor of production. Do they apply to your organization? Why? What other metaphor can you think of to describe your arts concern? P-968
Discuss the Arts Experience Index. Explain how you would use the data it provided if you used the index to survey your audiences. P-968
Does the arc of engagement make it easier or more diffi cult to produce arts offerings? Explain. P-968
What is your opinion on the discussion of subjective and functional arts service product quality? P-968
Identify gaps in cultural arts service product quality. P-968
What is your leadership style? What types of people should you hire and what complementary skills should they possess to make your leadership style stronger? P-968
Understand the cultural arts organization valuation process. P-968
Comment on the four motivations for corporate sponsorship in comparison to the defi nition of corporate sponsorship. Is there any confl ict? Why or why not? P-968
Note the different kinds of foundations that are available. In what ways are they similar or different? P-968
Provide an explanation of the concepts covered in each of the performance metrics presented in the chapter. P-968
Calculate the valuation of your culturepreneurial venture by visiting the Lincoln Financial Group website and clicking on Planning Tools for the business valuation center at this link: Lincoln Financial Group Business Planning. P-968
Utilizing the information in the chapter, develop a contributor model that will guide your cultural arts organization’s fund-raising development approach. P-968
Identify federal granting agencies that fund the mission of your cultural arts organization. Input their information into an ACRMS. P-968
Locate appropriate granting and foundation entities in the state and city in which your cultural arts organization does business. Input their information into the ACRMS. P-968
Write biographic and expert information for the culturepreneur and other key executives that will be used in development activities. Write an explanatory document that covers the mission, vision, and objectives of your cultural arts organization. P-968
Produce short- and long-term funding projects and initiatives, using a SMART framework. P-968
What kinds of funding are available to the for-profi t organization? The nonprofi t? P-968
Explain the differences between crowd-sourced, debt, and equity fund-raising. P-968
Will endowment fund-raising interfere with annual giving? P-968
Articulate dashboard measures relative to fund-raising and development. P-968
Use a model to engage contributors in expanding their relationship with the cultural arts organization. P-968
Produce and evaluate a fund-raising and development management plan and process. P-968
Apply metrics that can be used in evaluating and monitoring the fund-raising effort. P-968
Does the organization have access to good asset management? P-968
Does the organization understand its liquid cash needs? P-968
Does the organization understand the costs of raising endowment funds? P-968
Does the organization have at least four months’ worth of unrestricted cash reserves? P-968
Will an endowment contribute to fulfi lling the organization’s mission? The desire for perpetuity is not a suffi cient reason. P-968
Link each of the projects identifi ed in Exercise 6 to at least two specifi c viable fund-raising sources found in the research conducted in Exercises 3 and 4. P-968
Design and establish a dashboard that will be used in conjunction with managing the fund-raising and development process. Search the Internet for examples to get started. Include as many performance metrics as possible. P-968
Establish a procedure for updating the information and meeting reporting requirements for funded projects. P-968
How would you establish revenue projections for the next three years given the data in Exhibit 13.3? Use a bottom-up approach. P-968
Develop measures of effi ciency and capacity that you can use in either your organization or one that you will lead. Go online and fi nd other arts organizations that have utilized these and related measures to calculate their fi nancial health. What did you fi nd? Explain. P-968
Search the web for four or fi ve cultural fi ne arts organizations that have adopted an investment policy. In light of what you fi nd, critique those policies against the information given in Appendix 13.1. P-968
What is the benefi t of having a succession plan in place at the founding of the culturepreneurial organization? P-968
Why is it diffi cult to include this aspect in the strategic planning of the organization? P-968
Compare and contrast corporate turnarounds and restructuring. P-968
Search the Internet for succession planning. Design a succession plan for a nonprofi t organization and for a for-profi t organization using the three ways to think about succession planning as your guide. Include aspects that will allow for a hybrid form of ownership as well. P-968
Establish a corporate turnaround tool kit. By conducting an Internet search, locate consultants or others who will be available to assist in this aspect should it materialize. P-968
Based on what was accomplished in the previous question, what kinds of bankruptcy are accessible for each scenario? Conduct an Internet search to reveal resources that can be used in the event that such a direction is taken. P-968
Establish dashboards that can give you a quick read on the ratios you calculated in Exercise 1. P-968
Using the data given in the various tables in the chapter, calculate Ratios A, B, and C. P-968
Comprehend several components of an investment policy? P-968
Understand how to read income statements. P-968
Recognize the differences between balance sheets and statements of position. P-968
Understand the distinction between a top-down and bottom-up approach to budgeting and revenue projections. P-968
Assess the fi nancial health of a cultural arts organization using ratio analysis. P-968
Choose a set of investment strategies. P-968
Set asset maximization objectives. P-968
Utilize risk-to-return ratio analysis. P-968
Relate investments to the cultural organization’s mission? P-968
Establish an investment committee and be aware of laws governing it. P-968
Place the information gathered in the previous questions in the context of the vision for a culturepreneurial organization. What new awarenesses emerge in planning to move forward? P-968
What arts service products can be bundled? P-968
Discuss copyrights and their reach in the United States and abroad. How does this discussion relate to digital rights management? P-968
What is protected under copyright law and the cultural arts? P-968
Explain the goals of the World Intellectual Property Organization. How do they impact the laws in the United States? P-968
Discuss the advantages and disadvantages of using patents and trade secrets in the cultural arts. P-968
Conduct an online search of digital rights management processes. How can the digital rights management system be crafted from the artist’s viewpoint? How will that differ from a system that is aimed at protecting corporate rights? P-968
Examine the process of applying for a patent and a trademark at the United States government websites. P-968
Develop a document that can be used to give to potential stakeholders regarding protecting trade secrets to the cultural arts organization’s advantage. P-968
Develop a working database of arts policy organizations that will benefit your cultural arts organization. Include international, federal, state, and local levels. P-968
In reference to the work completed in number 3 above, design mechanisms whereby you can serve as an infl uence on arts and culture policy making at the local level, and then move forward to state and federal levels. Make notes of your fi ndings to prepare you for engaging in a discussion. P-968
Relate cultural and arts policy to cultural arts industries. P-968
Discuss the advantages and disadvantages of using patents and trade secrets. P-968
Use trade secrets to the cultural arts organization’s advantage. P-968
Using the process outlined in the chapter, design a new arts service product that can be used in a cultural fi ne arts organization. In what way will you determine if the arts offering should be brought to market? P-968
Visit the websites of some of the arts organizations mentioned in the chapter and others as well. Design a hybrid cultural fi ne arts organization that has both a for-profi t and a nonprofi t component. In your organizational design, include the organizational structures, the executive management
Understand copyrights and their reach in the United States and abroad. P-968
Know what is protected under copyright law and the cultural arts. P-968
Discuss fair use and its implications for copyrighted materials. P-968
Relate digital rights management with the use of copyrighted materials. P-968
Comprehend the scope of the World Intellectual Property Organization. P-968
Apply for a patent or a service mark or trademark. P-968
Register a copyright. P-968
Understand the concepts of the management information system, the business process information system, and the executive information system. P-968
Use these three systems in a culturepreneurial organization. P-968
Know the difference between outward-facing aspects of the management information system. P-968
Go to this link Artists for Second Life (http://secondlife.com/destination/artistsfor-second-life) or type “artists for second life” into your browser. Once there, set up an account and explore different galleries and installations. Consider how this technology can be used to engage arts
Visit the IBM website (“IBM Cloud/IaaS,” www.ibm.com/cloud-computing/us/en/iaas.html) and set up a free trial for cloud computing. Try it for a month. Not happy with IBM? Then any cloud computing service provider of your choice will suffi ce. P-968
Conduct an online search of fi rms that will provide dashboards in the fi ve categories listed in the chapter. Establish a relationship between your organization and several of these fi rms; set up a cost comparison showing what you may gain from using each of them. Is the potential benefi t worth
Go to Artful.ly (“Sell Tickets, Take Donations, Track Fans: Intuitive Business Software for Artists,” www.artful.ly/about) and explore the development of a dashboard. Then visit Indiana Museum of Art (http://dashboard.imamuseum.org/) and learn about its dashboards. P-968
Visit Tessitura Network (“CRM: Constituent relationship management,” www.tessituranetwork.com/Products/Software/CRM.aspx) and establish an ACRMS. P-968
How would you design an ACRMS? Include in your discussion a process that would incentivize employees to comply with seeing arts constituents as engaging one-on-one conversations that occur in the context of touch points. P-968
Articulate the difference between fund-raising, sponsorship, and development. P-968
Apply the relevant aspects of fund-raising and development to appropriate cultural arts organizational needs. P-968
Understand the sources of funds available to the cultural arts organization relative to the organization’s legal structure. P-968
Discuss the relative advantages and disadvantages of crowd-sourced fundraising, equity, and debt instruments. P-968
Determine metrics to be used in tracking the success of the strategy. For examples:• Website activities—visitors to the site, unique visitors, time spent on the website, how visitors arrived at the website, click-through rates from search engine optimization and analytic tools.• Comments and
Determine social media monitoring and response processes—how the arts organization will be notifi ed of postings and how to respond to them in real time. Newsfeeds, Google Alerts, keyword searches, wikis, and so on can be monitored using volunteers or personnel; alternatively, given the
Comprehend websites relative to Web 2.0 technology. P-968
Discern the differences in social media, strategy, and management. P-968
Understand dashboards and their importance in visual information. P-968
Know the benefi t of inward-facing aspects of the business process information system. P-968
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