Achieving Break Even And Success For Centre Of Arts In An Essay.

Responsibilities of Erin White for Achieving Break Even and Stabilizing Financial Parameter

Questions:

1.As Erin White, what recommendations would you make that might result in achieving break even for the scheduled Halo performance?

2.As Erin White, what recommendations would you make to improve seat revenue for the following two theatrical performances?

3.As Debbie Slade, what role do you think theatrical performances should play in future programs? Explain.

4.What should Debbie Slade do?

The adjective “scheduled” in the question reflects the awareness of Erin White in terms of making Halo a grand success. Arranging meetings is also apt in terms of assessing the appropriateness, effectiveness and feasibility of the undertaken decisions. For achieving break even, one of the prime responsibilities of Erin White would be to stabilize the financial parameter. Budget for the related activities of the program reflects the oriental approach of the Edin in terms of organizing Halo in a systematic manner[1]. Allocating the amount estimated to the events helps the personnel including Erin to make plans regarding the available resources and the additional resources if needed.

Low-ticket sales seem inappropriate in terms of catering to the entertainment needs of the customers. Herein lays the need for indulging in partnership with the trade union members, which would prove beneficial in terms of handling the instances of inflation, fluctuation in the prices of the tickets and substitutes adopted by the contemporary brands for luring more and more number of customers. This partnership would result in the introduction of lucrative offers, schemes and discounts, which can be given along with the products purchased for a certain amount[2].

As a matter of specification, break even is the conjunction of cost expenses and revenue. Therefore, for the achievement of break even, Erin White and the finance managers need to keep a track of the cash flowing from the internal environment to the external ones. Negligence towards keeping this track would compel the company to fall prey to unwanted illegal scandals. Here, the personnel need to expose a systematic approach. For this, at the initial stage, Edin White needs to indulge in meeting with the employees for enhancing their clarity on the achievement of break even[3]. After this, the employees need to be guided on the efficient and effective ways by which the break even can be achieved. Herein lays the appropriateness of trainings, which would enhance the preconceived expertise, skills and knowledge of the employees. Within this, if Erin White instructs the employees to take into consideration the aspects of demand and supply, it would yield positive results. Graphical projection of the demand and supply would make Erin aware of the progresses they are making towards satisfying the identified goals and objectives.

Importance of Partnership and Innovative Ways of Selling Tickets for Success

In business terminology, break even is termed as the situation where there is neither profit nor loss. However, this is not possible in case of the company or the organization, as they have to earn profit for securing their market position within the competitive ambience. In case of centre of Arts, generating more revenue would add maximum value to the profit margin[4]. Revenue can be generated by selling the tickets through innovative ways to the customers. For this, Erin White needs to execute consistent evaluation of the exposed performance.

The draft of the sales upto October 27, 2003 reflects the sale of very less seats. This issue achieves broader version in the projection of breakdown regarding the sales. Before the theatrical performance, sale of fewer seats is inappropriate in terms of Halo being a grand success. High price of the seats might be an issue for the audience from the middle class regarding exercising their affordability power. Along with this, reservation of the lucrative seats for the guests adversely affects some audience, who wish to enjoy the shows very closely[5]. Countering this, reserving the front row seats for the chief guests is an inevitable fact, which has been occurring since the initiation of stage shows.

In order to solve the issue of seats, Erin along with his team members need to expose rational thinking. Planning needs to be done regarding offering the seats to the audience in a lucrative manner. For this, the means of survey and feedback can be adopted. Target needs to be identified at the initial stage. The responses of survey would make Erin acquainted with the preferences of the audiences regarding the seats. Providing the audiences with the choice regarding the seats would make the audiences feel that the company envisions their wellbeing[6].

If the seats are sold to the audiences as a coupon for shopping for a certain amount, it would act as a sponsorship for the supermarket personnel along with the business expansion of centre of Arts. However, there are restrictions in the coupons regarding the head count. One ticket would count one person. However, there are persons making the payment for their whole family or friends. Therefore, the person in charge of selling the tickets needs to be cautious for averting any kind of wrong means for bagging the seats[7]. Negligence of the ticket giver might lead to audiences to apply illegal methods for watching the shows.

Role of Trainings and Demand-Supply Considerations in Achieving Break Even

Checking of the tickets is crucial in terms of preventing the outsiders from getting access to watching the shows. This checking can be done once the audiences have taken their seats. This checking needs to be done also for ensuring that the audiences do not possess any kind of inflammables, sharp weapons, which might cause harm to the other audiences. Consciousness of Erin and his team members in this regards would ensure the safety of the audience. For this, posting qualified security personnel would be beneficial for the company.

Countering this, ensuring the security and safety of audience would not be enough. Ensuring the safety of the artists is also crucial[8]. Therefore, the personnel need to balance the requirements regarding the areas, which they need to cover on a priority basis. Herein lays the appropriateness of developing strategies for exposing systematic approach towards the business activities.

Debbie Slade is the managing director of the centre of Arts. Therefore, he needs to be extra cautious in terms of upgrading the standards and quality of the theatrical performance. As a matter of specification, financial parameter needs to be constantly evaluated. Maintenance of consistency in this evaluation would bring to the forefront the major drawbacks in the performance. Narrowing the search, for popularizing theatre, Debbie needs to put on thinking hat for coming up with something innovative[9].

Advertising can be one of the effective ways to transmit the glory of theatre to the audience. However, this also needs the inclusion of rational thinking for reaching to the specific tastes and preferences of the audience. This rationality includes publication of the advertisements in a legal manner. For this, Data Protection Act (1998) can be applied in terms of maintaining the privacy and the confidentiality of the preferences provided by the audiences. Along with this, in the advertising process, Debbie needs to inculcate within his team members the importance of protecting the individual sentiments of the customers. Herein lays the importance of training, which enhances the bondage between the managers and the employees. This enhancement would leads to the exposure of collaborative output for the achievement of successful completion of all the tasks[10].

Debbie needs to adopt the means of social media. This adoption would seem fruitful in terms of expanding the supply chain network. Uploading the achievements of the theatre artists along with the pictures of the colorful decorated stage and the shows would attract large number of customers. If magazines are published regarding the achievements the centre of Arts have achieved, it would take the audiences to the ancient times projected through the theatre dramas. Along with this, if the customers are asked to make donations, the treasury of the centre would be enhanced. This enrichment would enable Debbie and his team members to entertain the audience with quality shows, which possess flexibility to cater to the entertainment needs.

Maximizing Revenue and Consistently Evaluating Performance for Profitability

Debbie can utilize the donations made by the customers for organizing events for extending a helping hand to the persons suffering from serious long terms diseases. For this, Debbie needs to make plans regarding hiring celebrities and sponsorships[11]. In this, Debbie needs to ensure that the financial treasury is fully enriched. This enrichment would result in the introduction of lucrative schemes, offers and discounts for the audience. Countering this, prior to this introduction, Debbie needs to indulge in second round meetings with his team members regarding the consideration of the demand and supply considerations of the customers. This consideration would make the personnel aware of the needs, demands and requirements of the audience.

At the initial stage, Debbie needs to conduct evaluation of the undertaken steps. As a matter of specification, Debbie can undertake TOWS analysis for reviewing the ways and means through which the business operations are being carried out. Identification of the major threats, at the first instance, would be one of the primary responsibilities of Debbie in terms of mitigating the risks associated with ensuring the longevity of theatre[12]. In this mitigation process, Debbie would become familiar with the potential opportunities, which can be availed for broadening the scope and arena of the theatre. Speculation of the opportunities would bring to Debbie’s knowledge the weakness, which is obstructing the productivity of centre of Arts through the theatrical shows. Taking into consideration the threats,

Along with this, Debbie can take the help of Gibbs reflective cycle. This theoretical concept would generate self-observational skills within Debbie. This reflective cycle is crucial for Debbie in terms of assessing the undertaken steps[13]. Conscious approach needs to be exposed by Debbie in terms of taking theatre to every corners of the world. Viewing it from the other perspective, the reflective cycle would act as an agent for Debbie in terms of assessing his position in within the organization.

Apart from this, Debbie can indulge in meetings and conferences with as many partners as possible. This would act additional assistance for the organization in times of crisis. Herein lays the importance of risk management exercise, which would assist Debbie to analyze the potential risks and produce quality shows for the audience. Taking the assistance of the checklists and templates would prove fruitful in terms of enhancing the clarity of the personnel regarding the risk mitigation[14]. Strategic vision and approach in this direction would yield positive results, making a widespread presence for theatre as a whole.

Solving the Issue of Fewer Sales and Limited Seats

References

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Bennett, Roger, Finola Kerrigan, and Daragh O'Reilly, eds. New horizons in arts, heritage, nonprofit and social marketing. Routledge, 2013.

Boudreau, Alexander. "Community Arts Promotion–Innovating the Arts Through Design." (2016).

Cacovean, Claudia Maria, and Doriana Dumitrela Morar. "Theatres as Nonprofit Organisations-an Important Framework for Cultural Marketers." The Proceedings of the International Conference" Marketing-from Information to Decision". Babes Bolyai University, 2014.

Kitchen, Philip J., et al. "Brickbats and bouquets for marketing." European Journal of Marketing 50.11 (2016): 1906-1923.

McDonald, Rónán. "Global Beckett." The Oxford Handbook of Modern Irish Theatre. 2016.

Nabi, Nazia. "Marketing of Fine Arts: A Study on Fine Arts of Bangladesh." Marketing 4.1 (2014).

O’Malley, Lisa, Maria Lichrou, and Maurice Patterson. "Academy of Marketing conference 2015–the magic of marketing." (2016): 807-810.

Rogers, Tony, and Rob Davidson. Marketing destinations and venues for conferences, conventions and business events. Vol. 14. Routledge, 2015.

Roy, Pierre. "6. When disruption is driven by established firms: the case of French multiplex theatres." International Perspectives on Business Innovation and Disruption in the Creative Industries: Film, Video and Photography (2014): 88.

Smit, Willem, and C. W. Chan. "Movie, Money, Marketing: Branding ‘3 Peas in a Pod’.(2015). Case Collection." (2015).

Tahal, Radek, and Václav Stríteský. "Target Audience of Live Opera Transmissions to Cinema Theatres from the Marketing Point of View." Central European Business Review 5.1 (2016): 29.

Waugh, Sara Elizabeth. Strengthening Audience Engagement for Institutional Theatres: Increasing Accessibility Through Social Media. California State University, Long Beach, 2015.

Yu, Yinan, and Hailiang Chen. "Measuring Social Media Success: The Case of Facebook Marketing in the Motion Picture Industry." PACIS. 2015.

Rogers, Tony, and Rob Davidson. Marketing destinations and venues for conferences, conventions and business events. Vol. 14. Routledge, 2015.

Smit, Willem, and C. W. Chan. "Movie, Money, Marketing: Branding ‘3 Peas in a Pod’.(2015). Case Collection." (2015).

Kitchen, Philip J., et al. "Brickbats and bouquets for marketing." European Journal of Marketing 50.11 (2016): 1906-1923.

Yu, Yinan, and Hailiang Chen. "Measuring Social Media Success: The Case of Facebook Marketing in the Motion Picture Industry." PACIS. 2015.

Tahal, Radek, and Václav Stríteský. "Target Audience of Live Opera Transmissions to Cinema Theatres from the Marketing Point of View." Central European Business Review 5.1 (2016): 29.

Roy, Pierre. "6. When disruption is driven by established firms: the case of French multiplex theatres." International Perspectives on Business Innovation and Disruption in the Creative Industries: Film, Video and Photography (2014): 88.

Nabi, Nazia. "Marketing of Fine Arts: A Study on Fine Arts of Bangladesh." Marketing 4.1 (2014).

Boudreau, Alexander. "Community Arts Promotion–Innovating the Arts Through Design." (2016)

Bennett, Roger, Finola Kerrigan, and Daragh O'Reilly, eds. New horizons in arts, heritage, nonprofit and social marketing. Routledge, 2013.

Alford, Madeleine. "The Business of Show Business." (2015).

Cacovean, Claudia Maria, and Doriana Dumitrela Morar. "Theatres as Nonprofit Organisations-an Important Framework for Cultural Marketers." The Proceedings of the International Conference" Marketing-from Information to Decision". Babes Bolyai University, 2014.

McDonald, Rónán. "Global Beckett." The Oxford Handbook of Modern Irish Theatre. 2016.

Waugh, Sara Elizabeth. Strengthening Audience Engagement for Institutional Theatres: Increasing Accessibility Through Social Media. California State University, Long Beach, 2015.

O’Malley, Lisa, Maria Lichrou, and Maurice Patterson. "Academy of Marketing conference 2015–the magic of marketing." (2016): 807-810.