Business Finance Homework Help

Review the Case for Critical Analysis: Central City Museum in Chapter 7.

• How would you resolve the underlying conflicts among key stakeholders about museum direction and goals? What actions would you take? Share your responses to these questions and then discuss with your peers.
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• Antonia wrote I think it would be crucial first to appreciate the input of every stakeholder towards the museum’s success and the far they have made the museum reach through their all-inclusive efforts in order to resolve their underlying conflicts about the museum’s direction and goals. I will be fairly straightforward in my handling of the situation. The next thing I will do is find out from every member how highly they regard the museum. I will put every stakeholder in a position to take a moment and mirror what it means for them to be part of this team. The purpose of asking every one of them to reflect is for them to understand how important and valuable they are in running the museum. I would then clarify to both of them that the museum is used for the betterment of everyone, including them, so they should clash about anything.
• Thomas Keith wrote At the end of the day everyone really wants the same underlaying thing which is to better their community with this museum and what it could offer to all parties included.Like any manager in any facet of business, the job of the director is to run the museum as they see fit with the business and its stakeholders in mind. In our instance, all parties want the new museum to incorporate academia in some capacity— whether it is broadening the horizons of inner city kids, acting as a safe space for discussion between students and the community, fertile soil for the growing minds of PH.D students as well as a cash generator for the university that has taken on maintenance and operational cost of the facility. The answer is involved but inevitably simple. They are all great elements that when brought together make a well-rounded museum.
  1. By catering to the inner-city youth, it inspires future minds that may never knew secondary education was an option in addition to serving as a great public relation (PR) darling.
  2. With PR of the inner-city kids outreach program making its way through media outlets, a draw of university students and adults of the community will up attendance along with possible donations and admission fees for the museum.
  3. To accommodate the first two, the museum will need a staff to operate it. If the university wants to use the museum to cultivate and build PH. D students, exchange use of the facility for volunteer hours and academic credit. This will free up money for operations and potential exhibits /updates.
  4. Lastly, when the three above needs are met by the museum it can attract popular and new exhibits. With excellent PR it will attract exhibitors, great attendance by students and community members increases the eyes on the exhibits and with PH. D students looking to be associated with these great projects at the museum will increase demand for school enrollment.

  All parties benefit if done right. They key is for the potential director is to find a balance of the stakeholders wants and turn them into mutually beneficial needs for the museum. What we see as conflicts should all be taken as suggestions, and it is up to the new director to filter out anything that is not in the museums bets interest diplomatically.

• Stephanie Ross wrote Greetings everyone,There is a difference in opinion amongst the stakeholders as to whom the new museum should serve. There is one opinion that the museum should serve the university and the community. The other opinion is that the museum should only serve the university.I would resolve this conflict among stakeholders by having a meeting with all of them to voice each of their opinions and state why it is their position. It is beneficial for everyone to hear each other’s views on the direction and goal. Then they can work together to develop suggestions on middle ground to try and satisfy as many stakeholders as possible.
• Sean Cauffman wrote Good afternoon, The museum came to fruition due to the efforts of many. The board was set up to make sure that many voices were represented. It should be utilized to the benefit of many. As a museum can be diverse and engaging to individuals, in many ways, so can peoples opinions or expectations. I would bring the board member together for a face to face. I would encourage every member to voice their opinions and concerns. I would also advise them to hear everyone else’s opinions and concerns. Once everyone has spoken, I would point out that a museum can teach and challenge students of all ages and financial statuses. A museum invokes thoughts, challenges norms, and expands expectations. The inner-city children of today, may be the graduate students at the university in years to come. Access to the museum can affect generations of students for decades to come. The museum can be the spark, that lights the fire of learning. I would advise setting up an ongoing donation platform to help offset the annual costs and I would encourage a couple yearly fundraisers, where they feature special borrowed – traveling exhibits, that were referenced. They could have a Fall Ball, or a Spring Celebration, where the attendees get the first look at an exhibition unveiling. I would encourage the board members to embrace the challenges that maintaining the museum holds, and to work together to make the museum a successful mainstay of their community. Finally, I would close with comments that point out what the museum gives to each one of them. Museums are extraordinary. So full of knowledge, culture, history, art, past, present, future, mistakes, achievements, and what is yet to come. Museums have everything. They evoke though, discussion and even controversy. Something so exceptional needs to be shared and enjoyed by all that want access. At the end of the day a museum is a gift for all that get to partake in its displays, exhibits, atmosphere and message. Take care
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