Articulation of Response I was asked to analyze the Utah Symphony and Utah Opera merger proposal as Anne Ewers goes forward to manage the merger. I had to plan a proposal for Anne Ewers as she develops new strategies for measuring the success of this ongoing merger process. This art industry depends highly on donations from businesses and foundations. From many struggles, the art industries have developed low revenue, however; the Utah Opera and Utah Symphony need to integrate this merger for reduction
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action plat that Ewers should develop to ensure the success of the merger between the Utah symphony and the Utah opera are as following. First and foremost certain issues need to be addressed. The Utah symphony and the Utah opera organization were dealing with several financial and leadership issues. Ewers would have to create some effective strategies for managing the key financial and leadership strengths and weakness of the combined organization in order for the merger to be a complete success. (A1)
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A1. Before the merger, Utah Symphony had financial and leadership strengths and weaknesses. Financial strengths Symphony was the $8.8 million average endowments. A national trend led to the increases in ticket prices to yield higher revenues. The season prior to the merger, the symphony brought in considerable amount of revenue from events. The symphony brings in enough revenue to provide for full time positions for musicians through yearly contracts and salaries. The symphony is owned by the
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Task 2 Financial and Leadership Strengths and Weaknesses of the Utah Symphony The financial strengths of the Utah Symphony will now be addressed. One financial strength of the Symphony is the amount of endowments it receives. There are two groups, I and II, which receive endowments. The Utah symphony is in group II and that group gets an average of $8.8 Million per year (Delong & Ager, 2005, p. 4). Another major strength would be the amount of revenue brought in by performances. The 2000-2001
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Financial and Leadership Strengths and Weaknesses of the Utah Symphony The financial strengths of the Utah Symphony will now be addressed. One financial strength of the Symphony is the amount of endowments it receives. There are two groups, I and II, which receive endowments. The Utah symphony is in group II and that group gets an average of $8.8 Million per year (Delong & Ager, 2005, p. 4). Another major strength would be the amount of revenue brought in by performances. The 2000-2001 season
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revenue for most U.S. art organizations which the Utah Symphony is well above. Another financial strength was the ten $10 million they received in January of 2002 from their endowment fund. A third financial strength I that only 5.5% of the Symphony’s total expenses and 5.4% of their total revenue is from their lower management and general expenses which is drastically lower than the 14% of total expenses and 12% of total revenue from the Utah Opera. Another financial strength is that the Symphony
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Strategic Analysis of the Merger of Utah Opera and Utah Symphony Financial and leadership strengths and weaknesses of the Utah Symphony. There are almost no financial strengths that can be claimed for the Symphony. The only one that is evident in Exhibit 3 is that performance revenues are projected to increase by 18% for the succeeding year, 2002. Weaknesses are more evident and significant as outline in the following section. The most significant weakness is that the expenses are almost equal
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A1. The Utah Symphony and the Utah Opera have combined into one company. Anne Ewers is the new leader of the combined companies. This paper will help her in the development of a new strategy to look at the success of the merge. The Utah Symphony is a group II orchestra. This is based on the level of expenditures every year. In the year of 2001-2002 the average expenses were around 8.8 million for group II orchestras. The Symphony spend around $12.2 million for that year. The Utah Symphony
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leadership strengths and weaknesses of the Utah Symphony before the merger. Utah Symphony had a great deal of financial talent, but has been unable to find a strong source for future success. The potential merger builds on these strengths and weaknesses by creating a better future for both companies. Strength points: Symphony became one of the first orchestras from the western united stated to tour internationally. Unlike artists who worked for the opera, musicians employed by the USO received
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Utah Symphony Analysis Financial Strengths: The Utah Symphony received approximately 5% of its incoming from their endowment fund annually. The organization raised $3,829 in revenue from rental fees, sets, props, costumes, box office, etc. However, the symphony believes that the fundraising contributions are sufficient enough currently to allow ticket prices to remain the same as the prior year is successful. The up side is that there was a $116,308 in surplus at the end of the year. Utah Symphony
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