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Final Study Guide

by: Jordan Lazan

Final Study Guide MGT 235

Jordan Lazan

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Here it is! This study guide is cumulative for the entire semester, and covers everything that will be tested on the final exam for this course.
Arts and Entertainment Management
Study Guide
Arts and Entertainment Management, Management, Arts, Entertainment, Arts and Entertainment, business, Arts Management, Entertainment Management
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This 12 page Study Guide was uploaded by Jordan Lazan on Wednesday December 9, 2015. The Study Guide belongs to MGT 235 at Pace University taught by Noh in Fall 2015. Since its upload, it has received 52 views. For similar materials see Arts and Entertainment Management in Business, management at Pace University.


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Date Created: 12/09/15
wMidterm Study Guide – Arts and Entertainment Management *80 minutes, 30 multiple choice, 5 true/false, 5 fill in the blank, 1 short essay Lecture 1: Arts Management Overview 1) Benefit of the arts a. Quality of life outcomes i. Benefits to individuals (ex. Discovering yourself) ii. Benefits to society and community (ex. Sense of place) iii. Economic benefits (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. Strategic-level management i. Adjusts/adapts the overall operation d. Managerial-level management i. Bridge between operational and strategic (aka middle management) e. Operational-level management i. Day-to-day 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-, long-range 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 c. Personal management d. Fiscal management e. Board relations f. Labor relations g. Government relations/advocacy 3) Leadership skills needed a. Leadership b. Budgeting c. Team-building d. Fundraising e. Communication skills/writing f. Marketing/audience development g. Financial management h. ***NY Times Article – Fringe Festivals*** 4) Evolution of arts managers a. Arts/audience boundary more ambiguous now than ever b. Community benefits from this c. TED Talk: The arts festival revolution 5) Non-profit vs. For-profit a. Non-profit -- No pursuring profits beyond a reasonable compensation for public service i. Shareholder is the public ii. Arts organizations are 501(C)(3) 1. Tax exempt 2. Federal tax return publicly available b. For-profit -- Board of directors not always required i. Sole proprietorship – 1 director/owner ii. Partnership – 2+ directors/owners 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 iii. Quality control b. The bad i. Lack of autonomy ii. Lack of communication (“siloing”) c. Why labor can’t be divided i. Time (whole task requires less time than the full time of one person) ii. Nature (cow’s mouth can’t graze while back is milked) iii. Purpose (productivity/efficiency 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 office b. The good i. Coordination, pre-planned work, top-down communication c. The bad i. Creativity, adaptation to unanticipated events, bottom-up communication 3) Scientific management (Taylorism) – “one best way” 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 supervisor:employee 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 & 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- sufficient a. Focal organization i. Customers, legal systems, competitors, suppliers, social movements, labor markets, unions b. Autonomous strategies i. Buffering –effects of changes in resource flows (stockpiling, warehousing) ii. Smoothing –reduce variability in resource flows (hospital schedules, off-peak airfare) iii. Forecasting –adapt to anticipated changes in resources (more canned pumpkin in fall) iv. Rationing –avoid overproduction when demand unknown (book publisher) c. Inter-organizational strategies i. Bargaining –short term exchange contracts (ex. Management and union) ii. Cooptation –bring non-members into decision making (ex. Appointments to board of directors) iii. Coalitions –long-term commitment of joint activity (ex. Joint ventures, alliances) iv. Merger –joining 2 organizations into 1 single one (ex. Disney and Pixar) v. ***”Creative Placemaking” case*** Lecture 5: Adaptive Arts Organizations 1) External environments a. Economic environment i. Interest rates, tax legislation, natural disasters 1. Examples: 2008-09 recession, 9/11 2. Should have a contingency budget, flexible and subject to constant economic changes b. Political/legal environment i. Lobby for the arts, mobilize for the arts, maintain close relationships with lawmakers 1. Ex: legal size of museum signage c. Cultural/social environment i. Set of beliefs, attitudes, behaviors that combine to make up society 1. Changing social structure (diff. households, career pursuits and leisure time) d. Demographic environment (profile of statistics) i. Population decline, racial composition, aging population e. Technological environment i. Digital technology allows audience to stream/rent/purchase arts contents 1. Ex. Met Opera in movie theaters, museum on the web 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 web*** h. ***TED talk: true power of live performance*** 2) Information sources a. Audiences – audience research necessary b. Other arts groups – synergy c. Board and staff members d. The media e. Professional associations – learning how competition is doing f. Consultants (might not always have your best interests) 3) ***Opera 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 b. Short range planning: 1 year or less c. Intermediate range planning: 1-4 years d. Long range planning: 5+ years e. Strategic planning i. Meet goals and objectives derived from mission, vision, value f. Operational planning i. Support day-to-day operations (ex. Adding extra shows) g. Single-use plan i. Don’t recur (ex. Relocating office) h. Standing-use plan i. Recur frequently (ex. Scheduling rehearsals, budgeting) i. Combo of both i. Ex. Production schedule j. Crisis planning i. Plans for dealing with a crisis (ex. Death of a founder) 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?) iii. Situation analysis (SWOT) 1. Internal: Strengths, Weaknesses 2. External: Opportunities, Threats b. 2. Strategy formulation i. Direction whole organization intends to move 1. Stability, growth, retrenchment, or combo strategies c. 3. Goals/Objectives/Action Plans i. Goals: choice of strategy ii. Objectives: specific methods stating how to fulfill goals iii. Action Plans: concrete steps in allocation of resources to meet objectives iv. Evaluation systems 1. Direction of changearea of changetarget populationdegree of changetime frame 2. Increasenumber of season ticket buyers by 5% by June 30 th Lecture 7: Power and Leadership 1) Five bases of power a. Formal Power (based on position in organization) i. Coercive – can punish others for noncompliance, least effective, depends on fear of negative results ii. Reward – ability to compensate another for compliance iii. Legitimate – based on structural position in organization, most obvious form of power, can make demands b. Informal Power (based on individual’s characteristics) i. Expert – “I have a degree”, based on superior skill, limited by situational needs ii. Referent – perceived attractiveness, worthiness, right to respect (celebrities) c. *Informal power more effective than formal d. *Expert and referent = satisfaction with organization e. *Coercive can backfire 2) Trait theories of leadership a. Leadership: ability to influence a group toward the achievement of a vision or set of goals b. 1. Extraversion 2. Conscientiousness 3. Openness to Experience i. Traits can predict leadership and emergence of leaders, but not their effectiveness ii. Group composition matters; introverts lead extroverts better 3) Styles of Leadership a. Charismatic leadership i. Vision and articulation, personal risk, sensitivity to follower needs, unconventional behavior b. Transactional leadership i. Contingent reward, management by exception (passive), management by exception (active), laissez-faire c. Transformational leadership i. Idealized influence, inspirational motivation, intellectual stimulation, individualized consideration d. Authentic leadership i. Know who they are and what they believe and value, act on those values and beliefs openly and candidly, ethical people, produce trust in their followers e. TED Talk Lead like great conductors Lecture 8: Motivation Theories 1) Motivation: processes that account for individual’s intensity, direction, and persistence of effort toward attaining a goal a. 3 Key Elements i. Intensity (how hard a person tries) ii. Direction (towards desired goal of the organization) iii. Persistence (maintaining effort until the goal is achieved) 2) Extrinsic motivators a. Punishments, financial rewards 3) Intrinsic motivators a. Self-concepts, values, personal expression b. TED Talk The puzzle of motivation (Dan Pink, intrinsic vs. extrinsic motivators in challenges) 4) Content Theories a. Maslow’s Hierarchy of Needs i. Physiological, safety, social, esteem, self- actualization ii. Some needs more important than others iii. Lower order needs satisfied before higher order needs b. McGregor’s Theory X & Y i. Theory X (Negative) 1. Work must be coerced, controlled, or threatened with punishment ii. Theory Y (Positive) 1. Workers will exercise self-control if committed to objectives c. Herzberg’s Two-Factor Theory i. Hygiene factors 1. (Not dissatisfied) Quality of supervision, pay, company policies, physical working conditions, relationships, job security (dissatisfied) ii. Motivation factors 1. (Satisfied) Promotional opportunities, opportunities for personal growth, recognition, responsibility, achievement (not satisfied) 5) Process Theories a. Self-determination Theory i. People prefer to feel they have control over their actions; making something feel like an obligation instead of freely chosen undermines motivation 1. Extrinsic rewards reduce intrinsic interest 2. Choose jobs for reasons other tan extrinsic rewards b. Expectancy Theory i. Effort  Performance  Reward  Personal Goals Expectancy Instrumentality Valence (Can I do it?) (Will I be rewarded?) (Do I care?) ii. Multiplier effect: a zero on any of these dimensions = zero motivation Lecture 9: Marketing 1) Marketing: activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large 2) Marketing challenges for arts managers a. Expensive to produce but cheap to reproduce b. Products are holistic c. Experience goods d. Quality is in the eye of the beholder e. Demand is difficult to predict f. People prefer popular products 3) Wants and Needs a. Marketer strives to achieve match between human wants & needs and products & services i. Need – something lacking that’s necessary for person’s physical, psychological, social well-being ii. Want – something that’s lacking that’s desirable or useful; intrinsic to individual’s personality, experience, & culture 4) Satisfaction a. Functional satisfaction – purchase something like a washing machine, achieve functional satisfaction because of tangible features of that object b. Psychological satisfaction – purchase a bag to carry things in, brand and style of the bag satisfies her psychologically 5) Marketing Approaches a. Product Orientation i. Marketing is all about “quality” of products b. Sales Orientation i. Marketing is all about “selling” products c. Customer Orientation i. Marketing is all about studying customer’s needs and wants, perceptions and attitudes, preferences and satisfactions 6) Marketing Mix (4 P’s) a. Product (service, experience) b. Price c. Place (distribution, venue) d. Promotion i. ** NY Times: Seattle Art Fair 1. Product: diverse range of artists/galleries (big names and emerging artists) 2. Price: affordable tickets, wide range of artworks 3. Place: West Coast (bridge geographic divide, commercial potential) 4. Promotion: as populist as possible, publicity with well-known people like the mayor 7) Market Research Methods a. Demographic i. Age, income, education, gender, race b. Psychographic i. Consumer beliefs, values, attitude c. Claritas system i. Segment explorer website ii. ***Broach Theater case study: case analysis questions 8) TED Talk: How to get your ideas to spread a. Seth Godin b. Marketing model no longer effective: TV Industrial Complex c. Best way to market ideas/products/services: be remarkable/different, not safe d. Examples of successful niche marketing: Hard Candy Nail Polish, Dutch Boy Paint 9) Mission Statement a. Not good starting point for developing marketing strategy i. Focused on organization not consumers, can become out of date, too broad/narrow/vague/fact- based b. Good mission statement i. Statement of purpose (what are we here to do?) ii. Statement of ambition (where are we heading?) iii. Statement of values (what values do we hold dear?) 10) Positioning Statement a. What unique positions you hold in consumer’s mind (Aka “brand statement) i. Who’s your target? ii. What are their other entertainment options? iii. What are your unique benefits? iv. Template 1. For [target market], the [brand] is the [point of differentiation] among all [frame of reference] because [reason to believe]. v. Example 1. For World Wide Web users who enjoy books, is a retail bookseller that provides instant access to over 1.1 million books. Unlike traditional book retailers, provides a combination of extraordinary convenience, low prices, and comprehensive selection. Lecture 10: Fund-Raising 1) Why do people give? a. Exchange concept b. Intangible, psychological satisfaction (people give to people, personal relationship matters) c. Why do people NOT give? i. Get more money asking for money than not asking for it ii. People give for people, follow up with results iii. Changing external environments (ex. Recession) 2) Fundraising Planning and Process a. Organization profile & audit  Needs assessment  plan development  implementation  processing & evaluation 3) Case for Support a. Identify the important needs that organization intends to address with the help of the contributors i. To enrich cultural life of the community ii. To provide a service to a wide geographical area iii. To teach acting skills to young people b. Demonstrate how to address these needs i. Presenting quality productions ii. Touring operation iii. Education program c. Match the proposed areas of organizational activity with the funder’s own philanthropic interests 4) Staff and Board Participation a. “To Join the Met’s Board, Have a Checkbook Handy” (NY Times April 2010) i. Reasons people join boards of trustees 1. Social status, personal satisfaction of doing good, chance to network with power people, influence in setting intellectual course of the nation ii. Organizations’ criteria for selection trustees 1. Money, passion for the arts, artistic/legal expertise iii. Responsibilities of trustees 1. Give, get, or get off – financial expectations; time, talent, treasure 5) Funding Sources a. Individual Donors (24%) i. Largest segment of private contributors ii. Donor research 1. Current donors, less active supporters/prospects iii. Multiple funding options 1. Different wording (investment, not donation), restricted gift, deferred gift, bequest, etc. iv. Special events b. Corporate Giving (3%) i. Heavily affected by external factors 1. Economy, change in ownership ii. Driven by concept of reciprocity 1. Ex. Time Warner and NY City Center Fall for Dance iii. Geographically limited iv. Conditions attached c. Foundations (4%) i. Shubert Foundation d. Governments i. Local (4%) ii. State (2%) 1. State arts councils, National Assembly of State Arts Agencies iii. Federal (3%) 1. National Endowment for the Arts (NEA), National Endowment for the Humanities (NEH)


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