Harvard Case - Oregon Shakespeare Festival
"Oregon Shakespeare Festival" Harvard business case study is written by William F. Meehan III, Emily Sophia Knapp. It deals with the challenges in the field of General Management. The case study is 30 page(s) long and it was first published on : Oct 18, 2002
At Fern Fort University, we recommend the Oregon Shakespeare Festival (OSF) adopt a multi-pronged strategy focused on: 1) Embracing digital innovation to expand reach and enhance the audience experience, 2) Strengthening financial sustainability through diversified revenue streams and strategic partnerships, and 3) Cultivating a culture of innovation and collaboration to ensure long-term artistic excellence and organizational resilience.
2. Background
The Oregon Shakespeare Festival, a renowned non-profit theatre company, faces a critical juncture. While boasting a rich artistic heritage and a devoted audience, OSF grapples with challenges like declining ticket sales, increasing operational costs, and the need to adapt to evolving audience preferences in a digitally-driven world. The case study focuses on the leadership team's efforts to navigate these challenges and secure the festival's future.
The main protagonists are:
- Paul Barnes: The Artistic Director, passionate about artistic excellence and committed to OSF's legacy.
- David Schmitz: The Executive Director, focused on financial stability and operational efficiency.
- The Board of Directors: Responsible for overseeing the festival's strategic direction and ensuring its financial health.
3. Analysis of the Case Study
The case study presents a complex scenario requiring a comprehensive analysis. We employ a framework that considers the following:
- SWOT Analysis:
- Strengths: OSF's strong brand reputation, dedicated artistic team, and loyal audience base.
- Weaknesses: Declining ticket sales, rising operational costs, and limited digital presence.
- Opportunities: Expanding digital reach, diversifying revenue streams, and fostering strategic partnerships.
- Threats: Competition from other arts organizations, economic downturns, and changing audience preferences.
- Porter's Five Forces:
- Threat of New Entrants: Moderate, as establishing a successful theatre company requires significant investment and expertise.
- Bargaining Power of Buyers: Moderate, as audiences have choices but value OSF's unique offerings.
- Threat of Substitutes: High, with alternative entertainment options like streaming services and live events.
- Bargaining Power of Suppliers: Low, as OSF has established relationships with suppliers and can leverage its reputation.
- Competitive Rivalry: High, with competition from other arts organizations and regional theatres.
- Financial Analysis: OSF's financial statements reveal declining ticket sales, increasing operational costs, and a reliance on fundraising.
- Marketing Analysis: OSF's marketing strategy relies heavily on traditional channels, with limited digital presence and engagement.
- Operational Analysis: OSF's operations are efficient but could benefit from streamlining processes and leveraging technology.
4. Recommendations
1. Embrace Digital Innovation:
- Develop a comprehensive digital strategy: This includes creating engaging online content, leveraging social media platforms, and offering virtual experiences like online performances and behind-the-scenes content.
- Invest in technology and analytics: Implement data-driven decision making to understand audience preferences and tailor marketing efforts.
- Explore innovative partnerships: Collaborate with technology companies and streaming platforms to expand reach and access new audiences.
2. Strengthen Financial Sustainability:
- Diversify revenue streams: Explore alternative revenue sources beyond ticket sales, such as corporate sponsorships, merchandise sales, and educational programs.
- Optimize cost management: Implement lean management principles to streamline operations and reduce unnecessary expenses.
- Secure strategic partnerships: Collaborate with other arts organizations, businesses, and government agencies to leverage resources and expand reach.
3. Cultivate a Culture of Innovation and Collaboration:
- Foster a culture of experimentation and risk-taking: Encourage artistic exploration and embrace new ideas.
- Promote cross-functional collaboration: Encourage dialogue and knowledge sharing between artistic and administrative teams.
- Invest in employee training and development: Equip staff with the skills and knowledge needed to thrive in a changing environment.
5. Basis of Recommendations
Our recommendations are based on the following considerations:
- Core competencies and consistency with mission: OSF's core competency lies in its artistic excellence and commitment to enriching lives through theatre. Our recommendations align with this mission by leveraging technology to expand access and diversify revenue streams.
- External customers and internal clients: We prioritize audience engagement and employee satisfaction by focusing on digital innovation, financial sustainability, and a culture of collaboration.
- Competitors: We acknowledge the competitive landscape and propose strategies to differentiate OSF and attract new audiences.
- Attractiveness: Our recommendations are expected to generate positive returns on investment by increasing audience engagement, diversifying revenue streams, and enhancing operational efficiency.
6. Conclusion
The Oregon Shakespeare Festival stands at a crossroads. By embracing digital innovation, strengthening financial sustainability, and fostering a culture of collaboration, OSF can overcome its challenges and secure a thriving future. This approach will not only ensure the festival's artistic excellence but also its relevance and impact in the ever-evolving world of theatre.
7. Discussion
Alternative options include focusing solely on traditional marketing efforts or pursuing a merger with another arts organization. However, these options carry significant risks and may not be as effective in addressing OSF's long-term challenges.
Key assumptions include the availability of funding for digital initiatives, the willingness of staff to embrace change, and the continued support of the community.
8. Next Steps
- Develop a detailed digital strategy: This should include specific goals, timelines, and budget allocations.
- Implement a pilot program for online performances: This will allow OSF to test and refine its digital offerings.
- Engage in strategic partnership discussions: Explore potential collaborations with technology companies, streaming platforms, and other arts organizations.
- Conduct a financial audit: This will provide a clear picture of OSF's financial health and identify areas for cost optimization.
- Develop a comprehensive training program for staff: This will equip employees with the skills and knowledge needed to thrive in a digital environment.
By taking these steps, OSF can position itself for long-term success and continue to inspire audiences for generations to come.
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Case Description
Paul Nicholson, Oregon Shakespeare Festival (OSF) Executive Director, announced that he would retire at the end of the 2012 season, after a 32-year tenure at OSF. His successor, only the third in 77 years of existence, would take over during the final year of the 2009-2013 Long Range Plan, creating great uncertainty as well as great opportunity. OSF is an arts organization that defies trends. It achieves high artistic quality, attendance, and financial stability, despite presenting challenging, classical material 280 miles from the nearest urban center. However, it is also a company whose core strengths-rotating repertory, longevity in staff-can also work against innovation. To determine focus, OSF goes through a strategic planning process every five years, often bringing about large-scale change. This case describes the planning process for the 2009-13 Oregon Shakespeare Festival Long Range Plan. It explores challenges around innovation and leadership transitions that the executive team faced, and how OSF moved forward despite a strategic plan that was lacking. As the final year of the plan approaches, OSF must determine what it wants in and hire a new Executive Director, a major milestone for the organization, while simultaneously designing the next long range plan.
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