Walton Arts Center
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1. How do some organizations predict the short and long-term future? Explain in detail how a downturn in the economy affects not-for-profit organizations, as opposed to for-profit ones
2. Identify and explain the factors that demonstrate the Walton Art Center's utilization of the business-level differentiation strategy. What changes could be enacted that would alter the Center's strategy to one of low-cost? Would this be advisable? Why?
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Solution Summary
The response provides you a structured explanation of non-profit organization predictions, strategy, and impact in the context of Walton Arts Center . It also gives you the relevant references.
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1. Organizations predict short term and long term future by examining historical data, and developing trends from those data. Further, they predict short term future through informed opinion and judgment. Other organizations use market research information to predict the short term future of the organization. In addition, organizations try to factor in past life-cycle similarities. Specifically, for the long term organizations factor in the impact of business cycles, the prediction of the growth of the economy, and the efforts that the firm will make based on its vision/mission/goals (2). Organizations that operate in a limited geographical area predict short-term and long-term future based on local development projects that are expected to occur. For example, a project by a railroad company in which the rail line is expected to reach the area during the next few years gives a positive signal for the long term future of the area.
A downturn in the economy affects not-for-profit organizations more strongly as opposed to for profit ones. On one hand there is a ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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