Strategic Management In The Arts 1st Edition Lidia Varbanova - Solutions

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On the internet, visit one of these company sites: www.walmart.com, www.ge.com, or www.ford.com. What are some of the key events that would represent the “romantic” perspective of leadership? What are some of the key events that depict the “external control” perspective of leadership?
Strategy Spotlight 1.1 discusses four activities that underlie ambidextrous behaviors—a dual capacity for alignment and adaptability. Interview two managers in a public, private, or volunteer organization and ask them the following questions: (1) How often do you engage in each of these
A firm has spent some time—with input from managers at all levels—on developing a vision statement and a mission statement. Over time, however, the behavior of some executives is contrary to these statements. Could this raise some ethical issues?
=+• Suggest a strategy for several charity fundraising events which the Auditorium could organize.Elaborate a plan for these events and suggest relevant local and international partners, considering the causes of the events.
=+• Elaborate a basic sponsorship proposal for some of the Auditorium’s current programmes and offers.
=+• Suggest innovative online and offline methods of increasing external and internal sources of revenues, considering the Auditorium’s current programmes and target groups.
=+• Does the Auditorium have a sustainable financial strategy? Why? Why not?
=+• Discuss the strengths and weaknesses of the organisation’s current performance. Analyse the types of general and functional strategies used by the Auditorium.
=+• Understand the importance of the space’s architecture and facilities for attracting sponsors and audiences.
=+• Discuss changes in the cultural demand and supply factors based on the establishment of a large venue in a city.
=+• Discuss the importance of a mixed fundraising strategy for an organisation aiming at sustainability.
=+• Understand the connections between cultural programming, marketing and financial strategy for an art venue.
=+• Elaborate a basic sponsorship proposal for the project and suggest key benefits for potential sponsors, for both online and offline presentation Analyse the challenges and opportunities in managing a large venue in the field of the arts.
=+• What are the possible ways for this project to generate revenues by offering both online and offline products and services?
=+• How could the strategy of constant international growth in content and visibility be connected with a strategy of fundraising from diverse external sources?
=+• What is the main strategy used by the entrepreneur in the project’s growing phase?
=+• Are there any elements of social entrepreneurship in this case? Justify your opinion. Discuss elements connecting the creative artistic concept with a social cause.
=+• Be aware of the mix between online and offline tools in building a local and international brand for a project
=+• Consider financial strategies and methods for increasing self-generated revenues.
=+• Understand the importance of balancing external fundraising with self-generated revenues for an artistic project.
=+• Understand the importance of partnership and collaboration for the sustainability of an innovative artistic project.
=+• Recognize the necessity for arts entrepreneurs and project managers to elaborate strategic plans.
=+• Financial statements and financial ratios for the past reporting period form a rational background for extrapolation of financial figures for the next planning period. They are not enough for elaboration of a thorough financial plan, therefore all other influencing factors and results of the
=+• The fundraising plan is an important part of the strategic plan for nonprofit and subsidized organisations because there is usually a discrepancy between expected earned revenues and projected expenditures.
=+• Each specific project in your strategic plan could have a separate ‘project budget’, planned for a shorter period, usually one year. This is especially important for organisations whose structure is project-based.
=+• The projected three financial statements (balance sheet, income statement and cash-flow statement)form the core of your financial plan for the next three to four years.
=+• The financial plan results from the chosen strategies, creative programming and long-term objectives.
=+• The financial plan is the ‘mirror’ of all other parts of the plan. It is the ‘financial reflection and evaluation’ of all your planned activities and areas of production, innovations, marketing, human resources, and so on.
=+• Additional information, for example evidence from successful past events and projects; a list of other supporters; and video, audio and print materials that can effectively demonstrate the organisation’s success. Corporations would also like to know what the other external sources of
=+• What/who is the contact address/person from our organisation?
=+• What are the indicators for success? How would we identify that we have succeeded (e.g. media coverage, profit gained, number of participants involved, new supporters attracted)?
=+ As sponsorship is part of the marketing and communication strategy of a company, it is important that the sponsorship proposal considers the company’s overall strategy and especially its marketing priorities.
=+• What are the financial and marketing policies of the targeted businesses?
=+• What is the overall reputation of our organisation in the region? Is it well known and respected?
=+• How much will it cost for the sponsor (not only how much do we need)? How much will the business save by sponsoring you, that is, instead of organizing the same media and advertising campaign on its own?
=+• How much would it cost? This is the ‘price’ of the sponsorship. The answer to this question will depend on the following:
=+• What are our concrete promotional offers and other benefits for the sponsor? This is the most important part of the sponsorship proposal. It contains all services and benefits which an arts organisation can offer, including promotion, advertising and media coverage, as well as group
=+A short description of the target groups and the audience profile. What kind of media coverage have you planned? Connect this with your market research and target groups.
=+• Who is going to come to our event or see the event?
=+• What is our concrete project or event? A short description of the main purpose of the event, the artistic quality, the planned activities and outcomes. State the date and time of event(s).
=+• Who are we? A short description of the arts organisation: its mission, programmes, activities and creative teams.
=+• Reliability. How capable, skilful and competent is the management team of the sponsored organisation? What is their marketing knowledge and capacity?
=+How much would it cost? Is it cost effective?
=+• Financial planning. How does the sponsorship fit into the overall financial and marketing plan of the company?
=+• Time frame. How long would the sponsorship last, and how would it match the short-term and long-term strategic objectives of the business?
=+• Frequency. How often will the event (or the activity) take place? Will it be repeated (e.g. on an annual basis)?
=+• Location. Where will the project (event) take place? Will there be multiple locations?
=+• Scope. What exactly would be supported—an event, a project or an artist?
=+• Media coverage (visibility). How and by whom will the event be broadcast? What kind of traditional and new media will the project (event) involve?
=+• Market coverage (participation). How many people will participate in the event? What is the profile and size of the expected audience?
=+• Professionalism and artistic quality. Is the team professional, and how does this match the level of professionalism of the sponsoring organisation? Are the artistic results of a high quality? How is this evident?
=+• Similarities. How far does the artistic project or event complement the products or services of the sponsor?
=+• Main reason. Why should the business company sponsor this event or project? Why is it of benefit for the company?
=+• If you use an outside consultant to write the project proposal, make sure that you are also involved in the process at all its stages, and do not leave the whole project proposal in his/her hands.
=+• Do not make promises that you might not be able to fulfil.
=+• Give concrete facts, and do not forget to include exact references and sources of information.
=+• When writing the project, show a personal style and express clearly your viewpoint. Avoid jargon and complicated explanations. Write in simple and understandable language, in a logical and structural framework.
=+• Develop a contingency plan in case things do not go as planned during the realization of the project.
=+• Do not ask the foundation to cover all project costs. Be rational and always find ways to invest in the project and to generate revenues and support from other fund-givers.
=+• Make sure that the target groups are well defined and give evidence of how the project meets their needs and expectations, as well as how it creates future needs.
=+• Emphasize the uniqueness of the project, its innovative characteristics and differences from other similar projects in the field.
=+• Emphasize the problem(s) which your project will address and why this project is needed in the specific context of the city, region or country where it will be realized. Provide sufficient information about the local and regional context where the project will operate.
=+• Make sure that the project résumé is written well and gives a brief but clear picture of the whole project. In many cases the foundation’s expert who evaluates projects reads the résumé first before exploring the rest of the application package.
=+• Follow the foundation’s guidelines and overall application procedure. In many cases the cover letter is crucial to introduce the organisation and set the tone.
=+• Have a good understanding of the foundation you are applying to and preselect the most appropriate foundations (as explained earlier). Try to find out what projects and areas the foundation(s) has supported in the past.
=+It is important to know the limitations in a foundation’s grant-giving policy in order to not lose time applying to foundations where the chances of success are few or none.
=+• For what kinds of activities, projects, organisations or geographical areas does the foundation not provide support?
=+• What are the application procedure and deadline? Application procedures vary; in some cases foundations have precise application forms which have to be filled out. In other cases, they require a complete project proposal to be submitted. In a third case scenario, they may first require an
=+• What are the types of grants available, and what are the grant limits? Some foundations provide support exclusively for artists’ fees, for equipment or for travel-related expenses. Therefore, it is important to match the foundation’s guidelines with the costs in your budget. In most
=+ They have to be relevant to your idea or project and the place where you would like to produce it.
=+What are the foundation’s goals and programme areas, and what is the geographical scope of the foundation’s grant policy?
=+• Who will be dealing with the overall fundraising campaign in the organisation?
=+• Who from your organisation will be in charge of fundraising? Who will prepare the project proposals and sponsorship packages?
=+how to select available sources of support and how to contact relevant institutions and individuals.
=+• What are the sources of information on possible institutional and individual support? Find out
=+• Why would someone support you? If you apply to foundations and government programmes, carefully consider their criteria and application requirements.
=+• Clarify why you need external support: why do you deserve it? Identify the cause and the social aspect of the programmes and projects for which external support will be requested.
=+• What kinds of programmes, projects and events are you planning, and at what cost?
=+• How much do you need? What is your goal? Provide a quantifiable breakdown of all necessary potential resources.
=+8. Elaborate the structure and content of the financial and fundraising section of a strategic plan.
=+7. Understand the differences between the three key financial statements in the strategic planning process.
=+6. Plan a charity event for raising funds from external sources.
=+5. Understand the overall sponsorship process.
=+4. Elaborate a project proposal for applying to a foundation.
=+3. Explain why a fundraising planning is important and describe the process of applying for external sources of funding.
=+2. Describe the main sources of external financial support for an arts organisation.
=+1. Understand the main elements in a financial planning process.
=+• What would be your suggestion for using all the art objects submitted by artists that are not included in the T-shirt production process? How would this help increase the company’s revenues?
=+• Does the company need to invest in R&D in the future? Justify your answer. If yes, provide concrete suggestions of how this would be possible in terms of operations and financing.
=+• Elaborate an operational flow chart of the technological and production process in phases and including the partners involved.
=+• Identify the main resources which Moral Fibers requires to continue operations. Split them into groups, such as material, technical, human, financial and informational.
=+• Outline the elements of innovation and R&D in Moral Fibers’ activities.
=+• Discuss the importance of helping communities in developing countries through a concrete business and financial model.
=+• Elaborate on the operational and R&D aspects of an internationally established production process and sales of sustainable clothing with artistic elements.
=+• Understand the importance of elaborating a strategic plan for a start-up organisation.
=+• Analyse the elements of arts, creativity, manufacturing, operations and business in a social entrepreneurial process.
=+• Understand the practical aspects of a social entrepreneurial company.
=+• Does Caravansarai need further investment in research and development? Why? Why not?
=+• Analyse Caravansarai’s current stakeholders and external partners. How could they assist the organisation’s strategic development and animate the building to become a more efficient social and creative space?
=+• Elaborate a flow chart of the organisation’s resources, processes, phases and outcomes.

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