Sheffield Theatres Trust: Adapting Strategy

7102 words - 29 pages

Table of Content1.Introduction32.Identify the main problem(s) or question(s)42.1Summary of Sheffield Theatres Trust case42.2Main problem(s) properly identified52.3 Description of strategic lenses and strategy development63.Gathering the facts83.1 Analysis of strategic capabilities83.2 Environmental analysis9PESTEL analysis9Porters five forces113.3 Expectations and purposes analysis12Stakeholders map12The cultural web134.The alternative courses of action151st alternative course of action152nd alternative course of action163rd alternative course of action164th alternative course of action175th alternative course of action185.Decision and reasoning196.Implementation ...view middle of the document...

2.Identify the main problem(s) or question(s)In this part of the report a summary of the Sheffield Theatres trust case will be given as well as the main problems of Sheffield Theatres Trust. Furthermore, the applicable strategic lenses and the strategy development process within the theatres will be described.2.1Summary of Sheffield Theatres Trust caseThe case Sheffield Theatres Trust deals with Sheffield Theatres, which is a combination of two theatres in the English city of Sheffield, namely the Crucible and Lyceum Theatre. First the Crucible opened its doors in 1971 and in 1990 the restored Lyceum Theatre was re-opened. STT includes two distinct traditions of which the Crucible works as a producing theatre who commissions, employs and finances its own productions and artists whereas the Lyceum hosts touring companies who bring their own productions and artists to the theatre. The Crucible had hosted touring companies up to thirty percent of the year before the re-opening of the Lyceum, which could be even expanded by opening the Lyceum. However, after this successful opening, box office revenue of the Crucible began to fall significantly but after a while they managed to move audience from the Lyceum to the Crucible again. However, this incident was followed by a financial crisis due to fraud in 1993. The theatres partly recovered from this crisis after charging and convicting the responsible person. In the beginning both theatres had their own trust funds, but after finding out that the theatres were seen as if they were in competition with each other, it was decided to put their accounts together and operate as one under the name Sheffield Theatres Trust. After putting them together, again a significant fall of box office revenue took place in 1995 and 1996, which caused that people doubted that the theatres would survive. Box office revenues, public subsidies from local authorities and the Yorkshire Arts as well as special initiative grants for specific projects form the main sources of income for the theatre. Now that the two theatres do not compete against each other anymore, the funds provided by Yorkshire Arts increased strongly. Thanks to the stream of revenues and grants it became possible for the theatre to survive during financial crises. A great cost-cutting was set up in the summer of 1996 during a meeting with the new Chairman. The reputation of the Crucible was damaged and therefore there was an extreme low attendance rate. However, in 1997, Graham Morris, the new Chief Executive, presented a new business plan which allowed more flexibility between the theatres, which resulted in a small surplus in 1997/1998 and even a higher surplus in 1998/1999. As a result of changing governmental policies, the Yorkshire Arts announced an extra reward in the years 2002 to 2004. STT had operated in surplus for five consecutive years at the end of the year 2002. So at the end of this year, STT was free of debts for the first time in ei...

RELATED

argentine economy research paper - Carson newman university - essay

3396 words - 14 pages , theatres and culture all around, for these, until now Buenos Aires is called the Paris of South America. And even though the beautiful buildings, fancy theatres and big avenues are still standing in the city to these days, the economic prosperity years are not anymore. The great depression of 1930 along with the world war, changed the world economic environment, with this, the level of exports (the basic promoter of the Argentine economic growth

Giving Wings to Your Leadership Style - Management - Essay

1232 words - 5 pages strategy inevitably disrupts an office, but can be well worth the temporary disturbance. Key to successful change is to do so thoughtfully, with clear intention; employees will feel more secure and work better if they understand how and why their workplace is changing. Peus provides six touchstones for implementation. These include, first and foremost, “Ramp up trust” (Peus, p. 23). Trust is key to winning stakeholder buy-in. When office routines

Assess The Value Of Marketing In This Major Financial Services Group As A Business Philosophy. Based On Barclays. Module Was Marketing In Financial Services. Enjoy!!!

2338 words - 10 pages . As People are the interface of the company these feeling may be passed onto the consumer resulting in less confidence and trust in the relationship. This would adversely affect the target of customer focus.*With new key goals from the centre of excellence does the company have a good training structure to ensure quality is maintained at all levels? There is little point in having a new strategy if the culture of the company will not enforce it

Walmart Case Study competitive advantage - Strategic Management - Case study paper

4201 words - 17 pages headquarters in the United States, assisting local charities, and even building a school for the local community. A major change in Walmart’s China growth strategy occurred in October 2006. It was announced that the company had outbid competitor’s Carrefour, the United Kingdom’s Tesco, and Lianhua of China to acquire Trust-Mart, a chain of over 100 supercenters located in 20 cities across China. This acquisition, for approximately $1 billion, would

Total Quality Management Essay

1865 words - 8 pages right at the first time.In other words, TQM is "an evolving system of practices, tools, and training methods for managing companies to provide customer satisfaction in a rapidly changing world".(Shiba et al:1993)Characteristics of TQM-Customers focused: identify who the customer is and adapting the products and service to the needs. Exceeding customers' expectations. Satisfying internal (all the people involved in quality within the organization

Case Study of ComSyst Technologies - Management, People and Teams - Case Study

3879 words - 16 pages are made, what works, what does not and what get rewarded and how. Lessons can be drawn from the cases of organizations like Procter & Gamble and GE, who have focused on deploying a team-based strategy to achieve bigger and better results by their demonstration of building a collaborative culture that must be done with acknowledgement of the underlying principles, design, implementation of a single model and adapting to the organisational needs

Tocqueville And Democracy

7688 words - 31 pages responsibility in political life and accept majority opinion as his/ her own. ( Tie, personal communication, 28 July, 2003)2. Trust the state will ensure equality- crushing the independence of thought, reducing people's thoughts and expectations down to their households (and even more down to themselves).For Tocqueville the problem of democracy and its solution could be understood in terms of a simple formula: "equality was the cause

Job Differentiation Motivates Differently - CCSU - 8 Page Research Paper

2258 words - 10 pages is an indispensable strategy for motivating workers, the library had him go on an “informational journey” as he puts it, the library fully paid for a few classes in referencing and information technology. This will give the librarian or information professional opportunities for self-improvement and development to meet the challenges and requirements of new equipment and new techniques of performing a task. My cousin is absolutely satisfied being

Observation Research

9628 words - 39 pages activities and drawing conclusions from this" (................)Observing as a non-participant can significantly reduce observer bias in data collection due to the researchers distance from subjects. Observers will not aim to build relationships and trust with research subjects and hence, the probability that 'personal feelings stand to bias data collection' becomes zero. However, the lack of participation restricts the researchers ability to gain

Systems Approach

8206 words - 33 pages its output, which is the finished construction. This is then exported to the environment, which is itself influenced by the use to which the completed project is put and by the fact that the construction is an addition to the nation's fixed capital. (p38)Recognizing the construction process as an open system means that the functions upon which the project management process should focus can be summarized as:Identifying, communicating and adapting

Levels Of Planning

1770 words - 8 pages interacting with our brokers and getting feedback helps us to build a stronger relationship with our brokers. The stronger our relationship, the more opportunities we will have to gain their business. When speaking to our brokers we must also keep diversity in mind.Some of our current operational threats are related to diversity. Diversity is a threat to all companies. The value of implementing a diversified corporate strategy depends on individual

Sun Life Case

7990 words - 32 pages been reported to make vast profits through the years.Sun Life Financial now faces several dilemmas. Among others, it has to decide on an entry strategy, choose a geographical market and watch their financial situation closely.This report will closely examine Sun Life Financial's strategy to enter the Chinese insurance market. In order to come to accurate conclusions several key questions will be answered. First of all Sun Life Financial will be

This essay explains why it might be hard for parents to bring up children in the Christian faith

512 words - 3 pages In order to answer this question we must firstly look at what is done at the birth of the child. If they are baptised as a baby, they clearly include no opinion in the situation. If this child doesn't believe in this faith there will be obvious rise against this as they get older and realise what it means.Furthermore, a particularly social child who is busy quite a lot of the time may find it hard to go to Church when they are supposed to and

Vpost: Case Study

436 words - 2 pages V-post has the ability to substantially improve its profit margin, but it may difficult to realize that with the insight from Singpost, it can and will happen overnight. V-post is currently selling maximum range of approximately million bucks value of goods each day. As V-post faces many intense pressures to be more and more competitive and to increase profitability, a new perspective must be directed to the reduction and control of expenses

Bhopal Gas Tragedy

1749 words - 7 pages Disasters happen when multinational corporations though having enormous resources tend to look the other side when most of the people are uneducated and their governments do not care for them and their safety and laws are usually bent if not broken by the corporations for their benefit.On the night at around 1 a.m. on Monday, December 3, 1984, when most of the people were at home sleeping, a deadly toxic methyl isocyanate (MIC) gas leaked out