Recommendation for Erin White in terms of achieving break even for scheduled Halo performance
Erin White is responsible for ensuring Halo becomes a grand success by achieving its short-term and long-term objectives. It is pertinent to acknowledge that arranging meetings play a significant role in assessing the feasibility, effectiveness, and appropriateness of the decisions undertaken to improve Halo’s performance. One of the paramount responsibilities of Erin White towards achieving break even encompasses stabilizing the financial aspects of the Centre for Arts. Financial resources allocated to Centre for Arts activities reflect the approach of the management in the systematic organization of the Halo programs (Centre for Arts). Therefore, allocating the estimated budget for the planned Halo activities enables Erin and his team to make strategic and comprehensive plans concerning the provided resources for the success of the Halo events.
The ideology of lowering ticket prices in order to cater to consumer amusement needs is inappropriate. Erin White should incorporate the Herein suggestion of entering into a trade partnership with the union members. It is worth acknowledging that partnership would be advantageous because it would enable Erin white to overcome the contemporary challenges of the increasing competitors using substitutes to attract a large customer base, ever-changing fluctuations in ticket sales, and inflation instances (Sari & Subagyo, 2020). In a broader picture, the partnership would lead to integrating lucrative discounts, schemes, and offers provided along with the purchase of a specified amount of products.
Within the context of marketing, “break-even” refers to the point where “revenue” and “cost expenses” are in equilibrium. In order to achieve financial stability and reach a break-even, Erin White and the other financial managers need to closely monitor the movement of cash from the internal environment to the external environment. The inability to manage the financial cash flow will drive the organization to an awkward and potentially unlawful position. The staff members of the Centre for Arts should approach the situation in a systematic way. Erin White is required to hold a meeting with the staff at the beginning of the process in order to enhance their comprehension of the break-even point. After that, the workers need to be trained on the approaches that are the most efficient and successful in order to reach break even. Importantly, Erin White should develop training and development programs that will sharpen the present expertise, capabilities, and knowledge of the staff members (Seemiller & Rosch, 2019). The outcome will be beneficial if Erin White instructs the staff to conduct an analysis of demand and supply in the context of breaking even. This implies that Erin would be informed of the number of progress employees are making toward accomplishing their predetermined goals and objectives by examining the forecast of demand and supply on a graph. In marketing terminology, break-even refers to the point at which a business makes no profit or loss. Nevertheless, Companies cannot rely on the break-even strategy because it needs to make revenue and profits to run the programs. The Centre for Arts’ profit margin can increase with increasing revenue collection. There are a variety of creative ways to sell tickets to customers and make a profit. In order to achieve this goal, Erin White must consistently evaluate the performance of Halo events.
Recommendation for improvement of seat revenue for theatrical performance
The halo sales draft presented in the case as of 27 October 2003 shows ticket sales of few seats compared to the grand position and success of the Halo (Centre for Arts). The relatively high price of the seats possesses as a contemporary challenge, especially to middle-class customers taking into consideration their income and affordability power. However, Halo’s strategy of reserving highly-priced seats for the quests only negatively affects some customers willing to pay the price in order to enjoy the show from a close distance. There exist undeniable arrays of evidence stipulating that reservation of the front seats for the chief quests during shows has been inevitable in the organization since the start of the shows.
In order to find a solution to the seat predicament, Erin and the other members of his team need to exhibit logical thinking. It is imperative that a well-thought-out strategy be developed for allocating seats to the audience in a way that maximizes revenue. This is something that may be performed through the use of methods such as surveys and feedback. At the very beginning, the target needs to be determined. Erin would learn about the preferences of audiences regarding seating arrangements from the replies to the poll (Colbert & Dantas, 2019). The corporation would show that it cares about the comfort and well-being of the audience if it gave them the option of selecting their seats.
It would act as a sponsorship for the staff at the supermarket if the tickets were sold to the audience in exchange for a coupon that could be redeemed for a certain amount of shopping, and it would aid in the expansion of the business at the Centre for Arts. However, there are limitations on the number of people that can use each voucher. Each person would be represented by their own unique ticket. On the other hand, there are certain people who foot the bill for their whole family or their entire social group. As a result, the individual whose responsibility it is to sell tickets needs to maintain vigilance to prevent any illegitimate means of getting seats.
Accordingly, the verification of tickets is a very necessary step to take in order to stop illegal people from entering the shows. This inspection might take place once the audience members have taken their seats. This screening must also ensure that the members of the audience do not own any flammables or weapons that could endanger other members of the crowd. Erin White and his management’s knowledge of security matters would play an intrinsic role in ensuring the audience’s safety. Notably, the safety of the artists is of paramount essence, which Erin White should further put into consideration. This implies that Erin and his team need to consider all the areas requiring security in order to ensure the smooth running of the shows. Hence, it would be beneficial for the company to hire skilled personnel to manage the company’s security.
Debbie Slade Recommendation in terms of the Role of Theatrical Performance in Future
Debbie Slade performs the role of managing director in the organization. Due to the complexity of his responsibilities, he needs to be more conscious in making critical decisions concerning upgrading the quality and the standards of the theatrical performance. Without a doubt, Debbie Slade needs to evaluate the financial parameters in order to create innovative strategies for improving the future performance of the Centre for Arts. Debbie Slade should rely on his enthusiasm for approaching new challenges at the Centre for Arts. The evaluation of the performance of the Centre for Arts shows that it relatively lags behind in marketing strategies compared to its competitors. The quality of artistic performances needs to be enhanced to align the Centre for Arts with its ambitions. It is significant that he knows how to work effectively with staff and will use his abilities in order to implement new ideas into practice. The future successes depend on Debbie Slade’s decisions in terms of artistic development and marketing policy. There are also possibilities for upgrading the product and the services in order to make them more efficient for satisfying the customers (Centre for Arts). The organizational structure needs to be reviewed in order to enhance and upgrade the performance of the Centre for Arts. It is crucial that Debbie Slade will focus on improving her leadership skills in order to provide more effective directions for future organizational performance (Parc, 2021). The organizational structure should be developed stepwise so that necessary resources can be invested in different areas such as investment and marketing and staff management.
Debbie should integrate social media practices into her marketing strategies. It is important to note that the integration of modern technology would expand the supply chain network. Debbie should capitalize the social media by uploading images of the colorfully decorated stage and performances, in addition to highlighting the achievements of the theatrical artists in order to attract a large base of customers (Nanda et al., 2018). Audiences would be taken back in time to the eras depicted in theatrical shows if magazines were published about the achievements of the center for the arts. With this improvement, Debbie and the other members of his team would be able to provide the audience with shows of superior quality that are tailored to meet their requirements.
Social corporate practices enhance the Centre for Arts brand in the public domain. Debbie can organize events that provide support to people with long-term illnesses by using the contributions made by her customers (Bhattacharya et al., 2021). Debbie needs to get ready for the solicitation of celebrity endorsements and corporate sponsorships to improve the marketing of the shows. This will increase the financial earnings, dividends, and profits. This improvement would lead to the audience receiving lucrative discounts, deals, and offers as a result of the launch of new promotions.
Appropriate actions for Debbie Slade
At the initial phase, Debbie must evaluate the effectiveness of the completed phases. She can conduct a SWOT analysis to assess the methods and procedures used to conduct business operations. Among Debbie’s principal tasks for managing the risks connected with assuring the longevity of the theater would be the first identification of the most complex issues. In mitigating the complexes, Debbie would become acquainted with the prospective chances that can be utilized to expand the theater’s scope and audience base. Debbie would become aware of the deficiency that is impeding the efficiency of the Arts Center’s theatrical performances through an assessment of the available opportunities. Taking into account the strengths, risks, opportunities, and weaknesses would aid Debbie in identifying the strengths, which would increase the popularity and profits of the theatre (Sari & Subagyo, 2020). Furthermore, Debbie is free to participate in meetings and conferences with the maximum number of feasible partners (Davidson, 2018). During times of crisis, the organization would benefit from the relationships. When it comes to boosting the personnel’s clarity on risk mitigation, making use of the checklist and templates that are available will prove to be effective and beneficial. The use of strategic vision and methodology in this direction would provide favorable outcomes, establishing a widespread presence for theater as a whole.
References
H. F (Herb) Mackenzie Centre for Arts
Bhattacharya, A., Good, V., Sardashti, H., & Peloza, J. (2021). Beyond warm glow: The risk-mitigating effect of corporate social responsibility (CSR). Journal of Business Ethics, 171(2), 317-336.
Colbert, F., & Dantas, D. C. (2019). Customer Relationships in Arts Marketing: A Review of Key Dimensions in Delivery by Artistic and Cultural Organizations. International Journal of Arts Management, 21(2).
Davidson, R. (2018). Business events. Routledge.
Nanda, M., Pattnaik, C., & Lu, Q. S. (2018). Innovation in social media strategy for movie success: A study of the Bollywood movie industry. Management Decision.
Parc, J. (2021). Business integration and its impact on film industry: The case of Korean film policies from the 1960s until the present. Business History, 63(5), 850-867.
Sari, C. T., & Subagyo, H. (2020). SWOT analysis of art performance as city promotional strategy in Yogyakarta. Journal of Education Culture and Society, 11(1), 370-378.
Seemiller, C., & Rosch, D. M. (2019). An integrative six‐domain model of employee training and development. New Horizons in Adult Education and Human Resource Development, 31(3), 25-46.
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