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business
strategic management

Questions and Answers of Strategic Management

=+• What are we good at? What are our strengths that would help us successfully realize this idea?
=+• How does the idea fit the overall strategic management in our organisation? Does it correspond to our vision, mission and long-term objectives?
=+• Is our idea adequately original and innovative? How is it different from all other offers in the arts and culture sector?
=+• What is the calculated level of risk if the idea is implemented? How can risks be mitigated?
=+• What is the expected degree of profitability? Can the idea bring financial security in the future?
=+• What are the market chances of the new idea? What are the potential market segments when it is commercialised?
=+• What are our current assets, organisational capacity and available resources?
=+• What are the opportunities and resources in the region and the community where we live?
=+• What is the art and cultural potential in the region? Is there any external support for innovative art projects?
=+• Who are the potential audiences and clients for the innovative products or services?
=+• Does the innovative idea have a potential for long-term financial sustainability and growth?
=+1. Understand strategic management in light of the historical phases of its development and current theories.
=+2. Elaborate reasons why strategic management is important in the arts sector.
=+3. Recognise the main phases in a strategic management process.
=+4. Analyse reasons why implementing strategic management in the arts is special as well as challenging.
=+• Is the idea permissible? Are there any legal or other restrictions on its realisation?
=+• Is the idea compatible with the organisation’s vision, mission and long-term objectives?
=+• Why does successful strategic management in the arts nowadays require innovative thinking and entrepreneurial actions in order to achieve long-term objectives?
=+• What are the main phases of the strategic management process and their specificities in the arts sector?
=+• What are the characteristics of an intrapreneurial arts organisation, and why is intrapreneurship important for the elaboration and implementation of strategic plans in a financially
=+• Why do arts organisations need strategic planning, and how is it specific in the arts and culture sector?
=+• How does one elaborate a strategic plan for an arts organisation using the approach which is the most suited to a specific case?
=+• Why are innovative ideas and ‘thinking beyond the box’ both vital ingredients of a well-elaborated strategic document?
=+• How does one analyse external and internal factors and choose an appropriate strategy?
=+• How does one design the functional strategies and the part of the strategic plan related to managing people, markets, the creative production process and money?
=+• What should be considered when implementing the strategic plan?
=+1. Explain different types of organisations in the arts and culture sector.
=+2. Demonstrate how an arts organisation functions and transforms resources into outcomes.
=+3. Differentiate positions and roles of arts managers.
=+4. Summarise why innovation is important and what different types of innovations are.
=+5. Analyse the profile of entrepreneurs in the arts.
=+6. Describe the characteristics of an intrapreneurial arts organisation and the phases of an intrapreneurial process.
=+• Where? Where do we plan to undertake the creative production process? What are our distribution channels? Where do we plan to meet our audiences on a repeated basis?
=+• What are the capacities and attitudes of the business sector with respect to investing in the arts and supporting artistic projects and initiatives?
=+• Identify the types of innovation in INTERARTS’s operations and activities. Can INTERARTS become an intrapreneurial organisation? Why? Why not?
=+• What are the main reasons for INTERARTS to elaborate a strategic plan? Considering the current structure, who should finally approve the plan? Why?
=+• Identify the strategic management process phases in this case. What approach would you recommend to INTERARTS for them to successfully complete their strategic planning process?
=+• Analyse the vision, mission and organisational identity of INTERARTS. What are their main strengths? Are there any weaknesses?
=+• Discuss the professional competence of the management team as an important factor in the process of strategic management.
=+• Analyse innovative elements of a research-oriented organisation.
=+• Analyse the strategic orientation of an organisation working internationally as well as locally.
=+• Discuss the mission and strategic goals of a nonprofit organisation supporting cultural policy development internationally and locally.
=+• Understand the importance of developing cultural policy research in a cross-collaborative framework.
=+• Does ICOM’s strategy and operations contain intrapreneurial elements? If yes, what are they? If not, why?
=+1. Demonstrate why strategic analysis is a key phase in the strategic management process.
=+2. Articulate the differences between macro- and micro-environmental factors and the influence they have on an arts organisation’s performance.
=+3. Understand cultural policy and creative (entertainment) industries as key elements of the external environment.
=+• How might the relationships between an arts organisation and its main external stakeholders and audiences change in the long term under the influence of economic factors?
=+• How does consumption of cultural goods and services change over time, and how is it related to economic indicators in a country or region?
=+• What is the overall development forecast for cultural industries?
=+• What is the long-term prognosis for the main economic parameters?
=+• What economic trends influence the specific artistic or cultural field?
=+• What are the overall long-term economic trends in the country (region)?
=+7. Elaborate a SWOT analysis section of a strategic plan.
=+6. Analyse driving and restraining forces as a result of interactions between various factors.
=+5. Elaborate the SWOT matrix in preparation for selecting the right set of strategies.
=+4. Elaborate competitor analysis and stakeholder analysis.
=+What are the limitations and possible risks in its strategic planning process? (In your answer, refer to the methods discussed in Chapter 3 of the book.)
=+• What kind of approach/method would be most effective for ICOM to use for elaboration of its next strategic plan?
=+• Fundamental reasons for its existence. What is our organisation about, and why do we exist?
=+• What kind of key messages do we convey: orally, design-wise and online?
=+• How do we convey this message and communicate with our audiences?
=+• What is our message to society and to external groups, as well as to our personnel?
=+• What are the key programmes we are working on? What is their uniqueness?
=+• What are our basic organisational values and norms?
=+• What do we want to be, and what are our ambitions and aspirations?
=+• What makes us different from all other arts organisations in the same field?
=+• Why do we exist as an organisation and as a team?
=+• Who are we, and what distinguishes us from others?
=+• Core ideology: main values, ideas, beliefs or principles in organisational behaviour. What do we believe in?
=+• Key programmes, products or services and their uniqueness. What is the organisation doing? What is the core of its artistic activities? What are the elements of innovation and uniqueness in our
=+• Key beneficiaries, clients, audiences, communities. For whom do we exist? For whom do we work?
=+• What are the main strategic challenges and dilemmas for ICOM in the future?
=+• What are the main reasons for ICOM to elaborate its strategic plan? How does it help the network’s performance?
=+• Evaluate ICOM’s organisational identity and strategic directions, considering its current programmes and organisational structure.
=+• If the name consists of more than one word, how will it be abbreviated?
=+• Is someone else already using the same name?
=+• Will the organisation operate primarily locally, regionally, nationally or internationally?
=+• How will the name of the organisation and the domain name (the online URL) be connected19?
=+• How does the name reflect the mission of the organisation?
=+• Basic business model. Are we a profit-making, subsidized or nonprofit organisation? Are we financially stable for a long time period, how and why?
=+• External responsibilities and attitude. What are our main responsibilities and attitude towards these beneficiaries (clients, audiences, users)? What is our commitment to education, community
=+7. Connect the theory on the strategic-thinking phase of the strategic management with practical case studies.
=+These questions will help you to formulate the competitive advantage of your arts organisation or project.
=+• Understand the importance of strategic management and planning for capacity-building in a new organisation.
=+• What areas of organisational performance do we need to improve, and how?
=+• What expertise and competencies do we lack?
=+• Where are our weak points?
=+• What are our organisational capabilities and capacity?
=+• How could we seek new and alternative resources in the future?
=+• What are our available resources (assets, intellectual property and people), and how can we use them more efficiently?
=+• What is our ability to adapt to changes?
=+• What unique resources and capabilities do we have?
=+• What are our strongest assets?
=+• Analyse the factors in the external and internal environment and how they influence an organisation’s performance.
=+• Review a practical example of connections between territory, nature, culture and creativity in a nonprofit organisation.
=+• Recognize the need to involve communities, external stakeholders and partners in the realization of strategic goals.
=+• Are there any elements of innovation in MT Space’s current programmes and future strategy?
=+• Analyse MT Space’s strengths and weaknesses related to internal operations, and discuss how they relate to MT Space’s chosen strategic directions.
=+• Evaluate the strategic planning process implemented by MT Space. Does it follow the main theoretical principles of strategic planning? What kind of approach is chosen?

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