Topics: Strategic management, Management, Strategy Pages: 1 (307 words) Published: June 21, 2013
In order to be successful in any business, strategic plans need to be developed, implemented, and accessed. The plans help define what is trying to be accomplished and the tools needed to carry it out. Anita Scism, was challenged by issues dealing with leadership style, unstable finances, events programming, and strategic planning when she became president of Walton Arts Center. With input from the board, staff members, and others she executed the strategic management process to determine the best growth strategy for the arts center. This included analyzing the business opportunities and threats, strengths and weaknesses, and mission and goals. To accomplish this, Anita Scism had to figure out ways to incorporate Bill Mitchell’s (the previous president) plans and make them effective. Therefore, The Walton Arts Center started providing additional services and promoted employees. As a result, the people in the community were given the chance to enhance their lives through the educational and cultural experiences they received through the arts center. Companies and sponsors were pleased with the positive impact The Walton Arts Center was having on the community center. Another decision the company made was to increase ticket sales and class and artist fees. In time, the center was able to experience an increase in net assets. This increase resulted from enhanced fundraising efforts including increased corporate and foundation support, increased conference revenue, and fiscal management strategies Membership dues members conference, Grants, contributions, program workshops, publications and other earned revenue sources contributed to of total revenue. The center has made progress however, the strategic management process has to be done on a continuous basis in order to be effective. If a company’s intended strategy does not produce favorable results, how these issues are resolved will be critical for the future of the company. Bethel University. (2006)....
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