Harvard Case - Alberta Ballet: Proposal for Growth
"Alberta Ballet: Proposal for Growth" Harvard business case study is written by Edmund Gee, Peggy Hedges. It deals with the challenges in the field of General Management. The case study is 8 page(s) long and it was first published on : Oct 6, 2015
At Fern Fort University, we recommend a multi-pronged growth strategy for Alberta Ballet, focusing on expanding their reach through digital innovation, strategic partnerships, and a targeted expansion into emerging markets. This approach will leverage their core competencies in artistic excellence and community engagement while addressing the challenges of a changing landscape in the performing arts.
2. Background
Alberta Ballet, a renowned Canadian dance company, faces a critical juncture. While maintaining a strong reputation for artistic excellence and community engagement, they grapple with declining ticket sales, increasing competition, and a need to attract a younger audience. The company seeks to expand its reach, achieve financial stability, and ensure its long-term sustainability.
The main protagonists are:
- Jean Grand-Ma'tre: Artistic Director and CEO, responsible for artistic vision and overall management.
- The Board of Directors: Oversees the company's strategic direction and financial performance.
- The Company's Dancers, Staff, and Volunteers: Contribute to the ballet's artistic success and community outreach.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Artistic Excellence: Renowned for high-quality performances and innovative choreography.
- Strong Community Engagement: Deeply rooted in the community through outreach programs and educational initiatives.
- Dedicated Team: Committed staff, dancers, and volunteers passionate about the arts.
- Brand Recognition: Established reputation in Alberta and beyond.
Weaknesses:
- Declining Ticket Sales: Facing challenges in attracting new audiences and retaining existing patrons.
- Limited Digital Presence: Underdeveloped online platforms and digital marketing strategies.
- Financial Constraints: Limited resources for expansion and innovation.
- Aging Audience: Struggling to attract younger demographics.
Opportunities:
- Growing Interest in Dance: Increased global interest in dance and performing arts.
- Digital Transformation: Leverage technology to expand reach and engage new audiences.
- Strategic Partnerships: Collaborate with other organizations to create unique experiences and reach new markets.
- Emerging Markets: Explore international touring and partnerships in growing economies.
Threats:
- Increased Competition: Growing number of dance companies and entertainment options.
- Economic Uncertainty: Fluctuating economic conditions impacting arts funding and audience spending.
- Technological Disruption: Changing consumer habits and preferences driven by digital platforms.
- Talent Acquisition: Competition for skilled dancers and artistic talent.
Porter's Five Forces:
- Threat of New Entrants: High due to relatively low barriers to entry in the performing arts industry.
- Bargaining Power of Buyers: Moderate, as audiences have a range of entertainment options.
- Bargaining Power of Suppliers: Low, as dancers and other artistic professionals are generally not in a strong bargaining position.
- Threat of Substitute Products: High, as audiences have a wide array of entertainment choices.
- Rivalry Among Existing Competitors: High, as numerous dance companies compete for audience attention and funding.
Key Performance Indicators (KPIs):
- Ticket Sales Revenue
- Audience Demographics
- Social Media Engagement
- Website Traffic
- Donor Acquisition and Retention
- Program Participation Rates
4. Recommendations
1. Digital Transformation:
- Develop a comprehensive digital strategy: Create a user-friendly website, enhance social media presence, and explore new digital marketing channels.
- Invest in high-quality video content: Produce professional recordings of performances, behind-the-scenes footage, and educational videos.
- Offer online ticketing and subscription options: Provide convenient and accessible purchasing options for audiences.
- Explore virtual reality (VR) and augmented reality (AR) experiences: Create immersive and engaging digital experiences to attract new audiences.
2. Strategic Partnerships:
- Collaborate with other arts organizations: Partner with local museums, theaters, and music venues to create cross-promotional events and attract a wider audience.
- Develop educational partnerships: Collaborate with schools and universities to offer dance workshops, masterclasses, and outreach programs.
- Engage corporate sponsors: Seek partnerships with businesses to support performances and community initiatives.
- Explore international collaborations: Partner with dance companies and organizations in emerging markets to expand international reach.
3. Targeted Expansion into Emerging Markets:
- Conduct market research: Identify potential growth markets with a strong interest in dance and a growing middle class.
- Develop a tailored marketing strategy: Adapt marketing materials and outreach efforts to resonate with local audiences.
- Explore international touring opportunities: Organize tours to emerging markets to showcase Alberta Ballet's artistic excellence.
- Consider establishing partnerships with local dance schools and organizations: Foster cultural exchange and build long-term relationships.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with Alberta Ballet's core competencies in artistic excellence and community engagement and support their mission to inspire, educate, and entertain audiences.
- External customers and internal clients: The proposed strategies address the needs of both existing and potential audiences, while also considering the needs of dancers, staff, and volunteers.
- Competitors: The recommendations aim to differentiate Alberta Ballet from its competitors by leveraging digital innovation, strategic partnerships, and targeted market expansion.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to generate positive returns on investment through increased ticket sales, expanded audience reach, and enhanced brand recognition.
Assumptions:
- The performing arts industry will continue to grow, particularly in emerging markets.
- Digital technology will play an increasingly important role in audience engagement and marketing.
- Alberta Ballet will be able to secure funding and resources to implement the proposed strategies.
6. Conclusion
By embracing digital transformation, forging strategic partnerships, and expanding into emerging markets, Alberta Ballet can achieve sustainable growth, attract new audiences, and ensure its long-term success. This multi-pronged approach will leverage the company's strengths, address its weaknesses, and capitalize on emerging opportunities in the performing arts industry.
7. Discussion
Alternatives:
- Focusing solely on traditional marketing methods: This approach would likely result in limited growth and could further alienate younger audiences.
- Merging with another dance company: While this could offer some advantages, it may also compromise the company's artistic identity and community engagement.
- Shifting focus to a specific niche: This could limit the company's potential audience and may not be sustainable in the long term.
Risks:
- Digital initiatives may not yield the desired results.
- Strategic partnerships may not be successful.
- Emerging markets may not be receptive to Alberta Ballet's performances.
- Economic downturn could impact funding and audience attendance.
Key Assumptions:
- The performing arts industry will continue to grow.
- Digital technology will play a significant role in audience engagement.
- Alberta Ballet will be able to secure funding and resources.
- The company will be able to adapt to changing market conditions.
8. Next Steps
- Develop a detailed implementation plan: This should include timelines, budget allocations, and key performance indicators.
- Secure funding and resources: Identify potential donors, sponsors, and grant opportunities.
- Build a strong team: Recruit skilled professionals with expertise in digital marketing, strategic partnerships, and international expansion.
- Communicate the vision: Share the proposed growth strategy with stakeholders, including dancers, staff, volunteers, and the board of directors.
- Monitor progress and adapt: Regularly evaluate the effectiveness of the implemented strategies and make adjustments as needed.
By taking these steps, Alberta Ballet can position itself for long-term success in a dynamic and competitive environment.
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Case Description
Alberta Ballet, composed of the Alberta Ballet professional dance company and The School of Alberta Ballet, had experienced remarkable success in North America and Europe. However, in 2014, it faced a set of unique problems. Demand for performances from the company had grown so significantly that it was no longer able to accommodate all requests, especially from smaller markets in Alberta. Coupled with increasing demand, operations were fragmented across many locations, including some very expensive leases that were set to expire in 2016. Building a brand-new facility that could house all of the Calgary operations was an option, but was it feasible with the current economic conditions? Furthermore, how could Alberta Ballet better serve secondary markets?
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