Midterm Study Guide
Midterm Study Guide MGT 235
Popular in Arts and Entertainment Management
Popular in Business, management
This 6 page Study Guide was uploaded by Jordan Lazan on Sunday October 11, 2015. The Study Guide belongs to MGT 235 at Pace University taught by Noh in Fall 2015. Since its upload, it has received 38 views. For similar materials see Arts and Entertainment Management in Business, management at Pace University.
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Date Created: 10/11/15
Midterm Study Guide Arts and Entertainment Management 80 minutes 30 multiple choice 5 truefalse 5 ll in the blank 1 short essay Lecture 1 Arts Management Overview 1 Bene t of the arts a Quality of life outcomes i Bene ts to individuals ex Discovering yourself ii Bene ts to society and community ex Sense of place iii Economic bene ts ex Admission fees tourism b Broader societal impacts i Societal capacity to innovate and express ideas ex Community creates art ii New forms of self expression ex Videos digital art iii Outlets for creative expression ex YouTube Facebook c TED talk How to revive a neighborhood with art 2 Levels of Management a Organization collection of people working together to achieve a common purpose b Manager organize resources to help the organization achieve its stated goals and objectives c Strategiclevel management i Adjustsadapts the overall operation d Manageriallevel management i Bridge between operational and strategic aka middle management e Operationallevel management i Daytoday things 3 Types of Managers a General manager i Complex multifunctional units ex Managing director b Functional manager i Leads a particular unit ex Production manager c Frontline manager i Manages employees who aren t managers ex Wardrobe master master carpenter Lecture 2 Arts Managers 1 4 Primary functions of management a Planning i Decide what s going to be done 1 Setting goals short mid longrange goals b Organizing i Deciding how it will be done and by whom 1 Course of action c Leading i Deciding how others will get it done d Controlling i Deciding if it s getting done or not and how to get it done if not e ABC Opera Case 2 Basic functions of arts managers a Planning and development b Marketing and public relations Personal management d Fiscal management e Board relations f Labor relations g Government relationsadvocacy 3 Leadership skills needed Leadership BudgeUng Teambuilding Fundraising Communication skillswriting Marketingaudience development Financial management NY Times Article Fringe Festivals 4 Evolution of arts managers a Artsaudience boundary more ambiguous now than ever b Community bene ts from this c TED Talk The arts festival revolution 5 Nonpro t vs Forpro t a Nonpro t No pursuring pro ts beyond a reasonable compensation for public service i Shareholder is the public ii Arts organizations are 501C3 1 Tax exempt 2 Federal tax return publicly available b Forpro t Board of directors not always required i Sole proprietorship 1 directorowner ii Partnership 2 directorsowners iii Limited liability corporation LLC safest Lecture 3 Classical Management Theories 1 Division of Labor divide and conquer ex Charlie Chaplin a The good i Efficiency 1 Time expertise technology ii Less training required n re nance iii Quality control b The bad i Lack of autonomy ii Lack of communication quotsiloingquot c Why abor can t be divided i Time whole task requires less time than the full time of one person ii Nature can t let cow s mouth graze and the back be milked iii Purpose productivityef ciency isn t the goal 2 Bureaucracy ex Dr Strangelove a Formal division of labor hierarchy of authority written rules and procedures appointment by merit separation of home and of ce b The good i Coordination preplanned work topdown communication c The bad i Creativity adaptation to unanticipated events bottomup communication 3 Scienti c management Taylorism quotone best wayquot a Assumes every worker is interchangeable b Doesn t consider what the organization produces Lecture 4 Contemporary Management Theories 1 Contingency theory a Best way depends on technology Woodward i Small batch ex Art work 1 Flat hierarchy few rules low supervisorempoyee ratio ii Large batch ex Consumer electronics 1 Greater hierarchy many rules moderate ratio iii Continuous ex Chemical plants 1 Greatest hierarchy may rules high ratio b Best way depends on environment Burns amp Stalker i Mechanistic stable environment 1 Individual specialization centralization standardization written communication network of positions corresponding to tasks ii Organic changing environment 1 Joint specialization decentralization mutual adjustment verbal communication team organization 2 Resource Dependence Theory organizations are not self suf cient a Focal organization i Customers legal systems competitors suppliers social movements labor markets unions b Autonomous strategies i Buffering effects of changes in resource ows stockpiling warehousing ii Smoothing reduce variability in resource ows hospital schedules offpeak airfare iii Forecasting adapt to anticipated changes in resources more canned pumpkin in fall iv Rationing avoid overproduction when demand unknown book publisher c Interorganizational strategies i Bargaining short term exchange contracts ex Management and union ii Cooptation bring nonmembers into decision making ex Appointments to board of directors iii Coalitions ongterm commitment of joint activity ex Joint ventures alliances iv Merger joining 2 organizations into 1 single one ex Disney and Pixar v quotCreative Placemakingquot case Lecture 5 Adaptive Arts Organizations 1 External environments a Economic environment i Interest rates tax legislation natural disasters 1 Examples 200809 recession 911 2 Should have a contingency budget exible and subject to constant economic changes b Politicallegal environment i Lobby for the arts mobilize for the arts maintain close relationships with lawmakers 1 Ex legal size of museum signage Culturalsocial environment i Set of beliefs attitudes behaviors that combine to make up society 1 Changing social structure diff households career pursuits and leisure time Demographic environment pro le of statistics i Population decline racial composition aging population Technological environment i Digital technology allows audience to streamrentpurchase arts contents 1 Ex Met Opera in movie theaters museum on the web n D D ii Downside might lose because people go online instead of in person f Educational environment i High correlation with education attainment and arts attendance 1 Role of universities in audience development like Schimmel at Pace University g TED talk building a museum of museums on the webgtlltgtlltgtllt h TED talk true power of live performance 2 Information sources Audiences audience research necessary Other arts groups synergy Board and staff members The media Professional associations learning how competition is doing f Consultants might not always have your best interests 3 O era Company case in the textbook Lecture 6 Planning and the Arts 1 Planning terminologies a Must answer what objective why goal when where who and how Short range planning 1 year or less Intermediate range planning 14 years Long range planning 5 years Strategic planning i Meet goals and objectives derived from mission vision value f Operational planning i Support daytoday operations ex Adding extra shows g Singleuse plan i Don t recur ex Relocating office h Standinguse plan i Recur frequently ex Scheduling rehearsals budgeUng i Combo of both i Ex Production schedule 2 Strategic planning process a 1 Organization analysis i Mission ultimate purpose vision outcome of pursuing mission and values what organization holds most important ii Resource analysis do we have what we need DP00quot DPPPquot Situation analysis SWOT 1 Internal Strengths Weaknesses 2 External Opportunities Threats b 2 Strategy formulation Direction whole organization intends to move 1 Stability growth retrenchment or combo strategies c 3 GoalsObjectivesAction Plans iv Goals choice of strategy Objectives speci c methods stating how to ful ll goals Action Plans concrete steps in allocation of resources to meet objectives Evaluation systems 1 Direction of changel larea of changtharget populationl ldegree of changthime frame 2 lncreaseHnumber of season ticket buversl l by 5 I39Iby June 30th
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