Assignment Sample on Professional Development
Introduction
Belgrade Theatre is located in the region of Coventry City. The economy of the country is well established which enhances the price offered by the theatre over their tickets. As per the high reputation of the theatre, the engagement of customers for buying the tickets is relatively high. Some of the major issues and challenges are faced by the company to stabilize their business after the year 2020. The covid-19 period has been very degrading for every industry including the theatre and culture business. This report consists of the whole scenario and issues faced by the great theatre to stabilize their business. A proper recommendation is given by the proper procedure for implementing the listed recommendation. It will also consist of SWOT analysis and pest analysis for examining the internal and external environmental factors affecting the operations and revenue by the theatre.
Case study Analysis
The Belgrade theatre is one of the famous theatres within the region of Coventry City. The company offers a great platform to various companies for having their theatres and functions within the auditorium. The company owns two different auditoriums. The one auditorium has approx 250 seats and the other has 800. There are several projects which are already assigned by the institutes and various companies having an interest in art and theatre. The workforce hired by the theatre company is having talented and skilled employees who give a high contribution for earning great revenue (Harris, 2020). The company needs to analyze its external and internal environment. It helps to give a competitive advantage to the company and a proposed sustainable growth within the circumstances such as covid-19.
SWOT analysis
Analyzing the strength and weaknesses of Belgrade theatre will have the company know their area of improvement (Antonakis, 2021). Working over the improvement area can help them to reduce the future weeks and current issues which are faced by the company. Brief SWOT analysis in context with Belgrade Theatre is listed below.
Figure 1. SWOT Analysis
(Source: Shewan, 2021)
Strengths
The good brand image and value of the company is one of the great strengths. It helps the theatre to gain booking of the shows. The employees and artists hired by the theatre are well skilled and effective. As per the past period, the Housefull shows give high revenue to the company which makes their financial stability one of the major strengths. A theatre is also a form of Charity various donations are being received from the artist Council which gives their upper hand over their financial situation.
Weaknesses
The major weakness for Belgrade theatre is the total dependency on the UK region. It has been stated that 99% of the tickets are sold to the citizens of the United Kingdom. The companies operating in the region of the United Kingdom have a high impact on the revenue earned by the theatre (Fernandez and Shaw, 2020). The Other weakness is having a primary service. That theatre receives 77% of the revenue from the shows which are conducted over their auditorium. Rest revenue is received from the donation from various councils. Earning revenue from a single source of service is a major weakness for the theatre.
Opportunities
Several opportunities can be addressed by the Belgrade theatre. They can indulge in the digital platform for digitizing their shows. A paid membership can be generated by the theatre over the online platform to have the perfect revenue earned from all over the world.
Being a known brand it would be easy for the theatre company to establish a new segment of service that can help them to earn high revenue for tackling the circumstances like covid-19.
Threats
Depending on a single country for having high revenue is one of the major threats. Any circumstances within the UK region can degrade the revenue earned by the theatre. As per hai competition within the theatre industry the company needs to spread their theatre presence over the different regions. It is very essential to minimize Oxford for having high growth and revenue. In the emerging era of globalisation being limited to a country can be a major threat for the Belgrade theatre.
Being one of the famous theatre companies within the region of Coventry City the Belgrade theatre needs to spend their origin over other countries. This will help them to lessen the threats and weakness addressed above.
PEST analysis
Analysing the external environmental factors effectively helps the organization to Grab the appropriate opportunity and lessen the threat. The external opportunity can result in earning high revenue and profit. A pest analysis is listed below in contact with Belgrade theatre briefly.
Figure 2. PEST ANALYSIS
(Source: Keyser, 2018)
Political –
They are several of which are amended by the government having the power of rule within a city. It has a major impact on the performance of the theatre (Wilson, 2020). Some of the decisions and regulations can be as per the functioning. For example, recently due to covid-19 the government announced a proper lockdown which has a direct impact on the closure of the theatre industry for a long period
Economical –
The High economy of the region directly impacts the highest standard of the people living within the region. Coventry city is having economic value and growth. The prices which are offered by the theatre company to the citizens are according to their comfort and standard economic value. Operating in a low economy can be a real challenge for theatre companies as primary revenue is generated by the sale of tickets.
Socio-cultural –
The perception of people is also one of the major factors affecting the performance of theatre companies. For example, the high interest of society over the digitized platform has directly impacted to lessen the interest in watching traditional theatre. Some theatre companies are also opting to give their shoes online to the customers for enhancing their profit.
Technological –
Being a well-developed country the Coventry City within the region of the United Kingdom is having the high engagement of people over technology. The emergence of new technology provides various opportunities for the theatre company (Ortega and Orsini, 2020). The industry can use the latest technology for increasing the engagement of paper over their auditorium. It also enhances the facilities and comfort of customers.
As per the pest analysis has been analysing that there are several opportunities for the theatre company to maximize their revenue as per their external factors. Indulging the high technology and operating within the High economy region can give a great opportunity.
Company strategic position
The company had to measure leaders which resulted in dual leadership. The one leader is the CEO of the company who is known for their famous arts and creativity. The Other leader is the chief executive of finance. The CEO of the company is effective in giving creative decision whereas The Other leader is effective to implement them. The communication held between the employees and with other stakeholders played an effective role in assigning the various projects.
Employees working within the company are well mannered. The revenue earned from the sale of tickets is enough to accomplish the major targets assigned by the CEO of the company for their company growth and profit (Yang and Ren, 2020). Belgrade Theatre is known to be a famous theatre having two big auditoriums for organizing various shows. The period of covid-19 was very challenging for the Belgrade theatre. Some of the major issues are listed below in contact with the theatre.
Issues and challenges for Belgrade theatre
The major challenge which has a high impact on the revenue and competitive position by the Belgrade theatre is the period of covid-19. As per their experience, the tickets are sold in advance as per the seasonal and even before one year of the shows. The shows which were organized in the year 2020 were stopped due to the order of the government. The proper lockdown was amended by the ruling power of the United Kingdom (Häyry, 2021). This had a major loss to every industry including the theatre one. As per their primary earning from the sale of tickets for the shows were stop. It was also necessary for the Belgrade theatre to give a refund to the customers who booked their ticket previously for the shows. The main contract was signed with different countries for theatre tours and shows within the auditorium with other artists and Institute word cancel.
Giving the money back to the customers and contractual companies can term to be a victim of bankruptcy (Shingler-Nace, 2020). The shows which were cancelled as per the Contract given by the theatre can be a subject to sue them legally. Providing the proper benefits to the workforce working within the theatre for a long period was a real challenge for the Belgrade theatre. One of the major challenges was to communicate appropriately with companies and customers for cancelling their registration. The company needed to grab that money for competing in the period of covid-19.
Recommendation
As for analyzing the above scenario of Belgrade theatre. The cultural business needs to minimise the impact of these threats and their business to remain within the market. The covid-19 disturbs the functioning and profit earned by the company. Some of the major recommendations which can help to minimize the impact of the covid-19 period over the performance and for the future instinct are described below.
Leadership plays an essential role to strategize and clan various procedures to tackle the situation (Netolicky, 2020). The tools active area for having the proper strategy can be internal and external environment. Strengthening the internal environment of the company will directly impact to grab various opportunities from the external one. The Belgrade theatre can focus over to create an effective team structure for their new missions and vision, structure the stages and motivates the workforce to complete the assigned target. The revenue can only increase after the period of the covid-19 bar with the help of employees. No external stakeholder can work for the contribution of success for the Belgrade theatre.
As per the Theory of leadership, it has been properly stated that it is very essential within the theatre industry to have a proper collaboration. The places like auditoriums are closed by the government for the huge gathering of people to prevent the covid-19 impact on the citizens (Norrlöf, 2020). One major recommendation for Belgrade companies is to participate in social concern by performing some small axes over the digital platform. The digital platform can be used as an effective way for earning revenue to stabilize the company’s financial position. Understanding a different style of leadership is very essential to start a new segment for the earning process.
Figure 3. 7C’s of Communication
(Source: Business communication, 2021)
Communication is also one of the major factors which can help the theatre to reduce the impact of covid-19 over their procedures (Alam, 2020). Having effective communication with the stakeholders and the companies having contracts for their shows is a major recommendation. Leaders must communicate appropriately with the workforce and the artists who contribute a lot to the success of the theatre (Business communication, 2021). Effective information must be given to them rather than the whole scenario. The customers and companies who have purchased the service of theatre for their future shows must be informed regularly about the latest update for opening the theatre. It will help the theatre company to establish a suitable relationship with customers and the company to enhance their reputation (Johnson and Williams, 2020). Digital media can be used by other theatres to give a proper recommendation regarding covid-19 and the latest update for their upcoming shows after a Covid period.
Implementing the recommendations
The above-listed recommendation can be implemented by the directorate theatre by having effective leadership and proper communication between stakeholders. Leadership is considered to be a broad concept as they are different styles that are properly understood by the leaders to lead the team over the developed vision. As per the scenario of covid-19, theatres and culture business couldn’t organize shows and gathering of people physically. The implementation of new segments over the digital platform for starting their Digital Theatre can be done by having a proper strategy and plan (Prasad, 2020). The leader must be creative and collaborative with the team to strategize a proper plan for achieving the decided objectives.
Some of the major leadership styles which can help the Belgrade theatre company to implement the recommendation properly are listed below
Participative leadership
As per the Theory of leadership, it has been detected that participation in leadership is considered to be an effective approach by the leader within our cultural business. The Artist and the employees who engage over to perform within the theatres have high creativity. Giving them a proper authority for placing their point of view within the decision-making procedure held for strategizing the various processes can be an effective way for implementing the changes (Grint, 2020). It directly impacts the value of the contribution of an artist over the decision-making process. When artists and employees feel valued within the company or organisation. It results in enhancing their satisfaction and contribution over difficult situations.
Autocratic leadership
In this type of leadership, the leader doesn’t tell the whole plan to the employees who are the team members. The leader only commands over the specific segment of the task given to each of the team members for completing it within the period. The completion of the single tasks assigned to each team member contributes to executing the plan properly. No team member has a proper idea of the executive plan or strategy amended by the leader. This is done when the situation is harsh and the leader thinks that the employee would be demoralized or unsatisfied by knowing the actual information about the company or the situation (Pang, 2021). This strategy can be obtained by the leader within the Belgrade theatre by giving them some comfort and relief. Discussing the financial situation of the company with The Artist and employees can be a disadvantage for the leader as it can lead to demoralizing them for the future period.
Despite the above-mentioned leadership, some others may include paternalistic leadership and free-rein leadership. It would be a major disadvantage for the Belgrade theatre leaders to opt for the leadership style (Spivack and Spivack, 2021). It is very essential to guide the artist on employees within the organisation to do the commanded work as per the strategy and plan. Free rein leadership focuses on giving freedom to each individual for executing the whole strategy. The leader is only meant to communicate with the outer people. This leadership can be effective in the situation when there is no financial risk or tread upon the company. Any unethical step taken by the employee can be desired over the closure of the theatre.
For implementing the above recommendation having the proper analysis of effective communication is very essential for both The Artist and leaders. The theory of seven C’s of communication has given a proper analysis of the communication needed over the situation. Most of the work and tension of the organisation can be avoided as per the effective communication done with the other parties. The Seven C’s may include concise clear concrete correct complete courtiers and coherent communication (Kurt and Erdoğan, 2021). It is very essential to have proper communication within the organisation to have a sustainable change. Implementing a technological platform for starting a new segment would require a proper flow of information from the lower management to the senior authorities of the theatre.
Reflection
As per my own experience, this module was very effective in analysing the whole concept of leadership and communication importance within a journey of a business. There are several circumstances and situations that are unexpected as per the business overview. It is very essential to minimise the impact of this situation on the business profit and instability. The challenges and issues which were faced by the Belgrade Theatre were major. The leaders were effective to have confidence in minimising the impact of this situation. It helped me to address the various qualities and skills which are wrapped by the leaders. It is the major responsibility of leaders to comfort the employees and various staff members working within the organisation. Giving them the appropriate knowledge regarding the situations and the circumstances help them to keep them relieved from the main stress. I understand that giving the proper information to the Employees can lead them to distract from their assigned task. This module also helped me to understand the different styles of leadership. Leaders don’t have to have a single style of leadership. The style of leadership changes as per the situations held over the organisation. In a big problem and issue, participatory leadership is more effective as it gives value to each staff member working within the organisation. It also helps in establishing a good relationship between the lower employees and the senior authorities by including themselves within a decision-making process. The seven C’s of communication that I understand the effectiveness of communication in various departments. If information is passed effectively having concise and concrete material can be a great asset for helping the senior authority for releasing the stress effectively.
Conclusion
Belgrade Theatre is one of the famous theatres within the region of the United Kingdom. The most revenue and by the theatre comes from the citizens living within the home region. As per the swot analysis, it has been analysed that the major weakness of the company or organisation is their single segment of the service provided to the customer. The total dependency on a single location can give a serious threat in the future period. An organisation needs to examine the external environmental factors for assigning the proper opportunity and threats. Various strategies are amended by the senior authority by analysing the proper impact of the external environment over the procedures and operations of a business.
The major issues which were faced by the theatre were covid-19 period. The financial strength of Belgrade theatre was diminished due to the lockdown period announced by the government. Some useful recommendations like enhancing the communication and leadership skills over the organisation can be an effective approach for the theatre company to stabilize the platform like before.
References
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