Course Work Sample -The Business case – Art Galleries and Selling Exhibitions 2000 words

Course Work Sample -The Business case – Art Galleries and Selling Exhibitions

Introduction

Businesses that use a consultancy approach will in most cases receive a new perspective that can aid them enable in rethinking their operational strategy. This project developed a consulting approach for Company A, an art gallery. It contains, among other things, consulting model, risks, deliverables, scopes and objectives, resources and a timeframe.

The consulting strategy would assist the art gallery in overcoming the pandemic and resuming operations after the crisis and meet its goal of promoting Spanish artist in the UK. Additionally, the discussion in this consultancy report also covered the business development activities that has taken place in the company to give a clear view of the current situation. Finally, the research demonstrates methods that the client may take to monitor the consulting’s outcomes.

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Description of the firm context and summary of the business problems

Business context and historical summary

The Company A, a world-renowned contemporary art gallery located in Millbank in the City of Westminster in London was famously founded by Nicolas Alejandro, a famous immigrant business man in from Spain. This company was once one of the most significant venues in London for exhibiting contemporary art and innovative ideas for teak outdoor furniture.

Though the gallery has been in existence for a very long time, it was only recently added to the World Monuments Fund’s list in 2011. It was briefly closed in 2012 for upgrade and maintenance but reopened in 2013 with renewed architecture and inventory of art pieces. after a year of development, company A immediately surpassed major competitors like company C and E in terms of revenue.

Since then, the gallery has achieved significant strides in the world of art, and in 2018, the gallery collaborated with Concrete, a creative facility in Dubai that offers international-grade exhibits aimed at fostering greater understanding between people of various cultures. In 2021 and 2021, the firm intends to improve its performance, coming from reduced business activities ushered in by the pandemic since 2019 and promote the art piece of more Spanish artist until they are well recognized in UK.

Assumptions

To apprise the current market condition of the company with the goal of increasing the profitability of the firm, some basic information about the expenditures incurred over the previous three years was obtained at the start of the project. Additionally, the overall amount of money earned and the number of artworks sold were considered. The assumption raised for this report steams from the fact that the galleries shuts down on March 17, 2020, due to the pandemic.

Which justifies the over £10m decline in revenue due to a 24.6% decline in sale from 2019 to 2020. As a result, it is assumed that the company plans to expand their branch network and increase fixed expenditures by 10% the next year. Business moves such as this one demonstrate that they desire to revert to the state they were in prior to the implementation of COVID 19 lockdowns and their willingness to showcase the works of Spanish artist in their collection to more parts of the country.

Summary of business needs

Globally, art galleries are anticipated to lose an average of 72% of their yearly income as a result of the covid 19 lockdown (Michalska and Brady, 2022). Additionally, a study of 236 worldwide dealerships discovered that the decline in financial activity varied by country, with UK galleries losing the most money, losing 79 percent of their business (Fineartmultiple, 2020). Therefore, one of the most pressing demands for the company has been to rediscover the market.

The consultancy strategy

Type of consultancy model

There are several consulting methods to manage any specific problem in a company depending on the objective of the company. The process consultancy strategy will help the art gallery’s opening brand, as well as their market position. the best fit model for this company is the process consultancy planning model.

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The processes consulting planning model is considered appropriate as it will assist the client in improving both the present and future condition by developing a framework that allows them comprehend, recognize, and act on the process events occurring in both the external and internal environments.

In light of the effect of the current pandemic on the United Kingdom’s art gallery business, a process consulting model might be employed to gain insight into the external and internal environments of Company A, as well as to give expert counsel on how to navigate the identified hurdles created.

This model of consultancy is built on a mutually beneficial partnership in which the consultant engages with the organization to ensure success. This concept was developed by Edgar Scheinin 1990 (Kwon et al., 2020). according to Kwon et al., (2020) analysis and recommendations provided by this model may assist the enhancement of a business strategy.

This consulting technique may assist a broad variety of market operations, including new exhibitions and events with useful content, as well as imaginative advertising campaigns and event promotion offline and on social media.

There are other advantages to employing this consulting style, the most noteworthy of which is that it encourages the active participation and responsibility of all company participants in the development process (Lapalme and Conklin, 2015).

A concurrent strategic change approach will be utilized to assure long-term profitability for the art gallery.  the Art gallery may also benefit from process consulting because takes into consideration collaborative diagnosis and client demands as crucial elements of its framework. This strategy would be advantageous to the client since it would assist the them in developing precise strategies for restoring market position.

Resources

The following is a list of the resources required to do the consultancy correctly, along with justifications for their use.

Data:

To consult for an art gallery, the most critical piece of information needed is the company data. The consultant would require information about Company A’s most recent financial performance, market costs, variable costs, fixed costs, number of customers who visited, sales figures and revenue to facilitate a better understanding of the business and market condition and provide a better recommendation for the business.

Infrastructure: Infrastructure is another critical resource for the consultation since it enables the consultant assess the art gallery’s capacity to stage new exhibits and events necessary to project its desired artist in a contemporarily relevant manner while re-establishing its market position in the UK market after a period of decline. Additionally, the consultant may use this resource to learn about the gallery’s facilities, arrangements, and other factors that can assist them increase the number of visitors.

Human resources: The owner of an art gallery and the employees of a consulting team both play a significant role in ensuring that the outcome of the consultation is effective. It believed that human resource will generally improve consultancy if they collaborated and communicated well with one another (Tyson, 2014). For this project, the members of the organization that makes up the consultancy team in the consultation process for Company A are;

One senior manager: A senior manager will assist the team in developing a strong consulting strategy by providing internal information on how the company runs, how workers behave, and what are clients desires.

Human resource manager: This individual will be responsible for recruiting, training, and managing staff at the art gallery in order to achieve the consulting strategy’s objectives.

Client’s employee: The client’s employees will be responsible for implementing the strategies and solutions developed by the consultancy team. They will also work diligently to achieve the earnings targets they have set for the art gallery.

Table 1: Cost estimation for staff used

Particulars

Costs (in £)

Human resource and senior managers

2000

Advertisement using social media 500

New equipments of art gallery 2000

Training and hiring of new staffs 600

Client employee 300

Total costs= £5400

(Source: Created by the student)

Table 2: Gantt Chart for timeline

word image 83134 1

(Source: Created by the student)

Additionally, meetings with various clients will be scheduled. Meetings with the owners of the properties the company wishes to rent will be arranged. During these discussions, the cost, time, and days of the event, as well as other topics, will be discussed in order to secure the appropriate location and make the necessary arrangements.

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Another meeting will be conducted with renowned and emerging artists from spain to discuss the artworks that will be shown in the galleries. Additionally, it will discuss how many people will attend the performance, how much money they will earn, and what other expenses they will incur. Clients will have enough opportunity to discuss and plan their assignments prior to beginning.

Scopes and targets

The primary aim for using the resources and strategies selected is to improve the market position of the art gallery in UK market and showcase more Spanish artist in the UK art industry. The consultancy engagement is designed to assist the art gallery’s company in maintaining a profit margin and regaining its footing after the pandemic. It is expected that the process would assist the firm in developing new ideas and concepts for the art gallery, so increasing its competitiveness with the focus on regaining its market position.

Core to this consultancy engagement is the fact that the decisions and the plans developed will only be accomplished by personnel in the gallery, highlighting the relevance of educating and enforcing new gallery rules.

The choice to expand would need the corporation to invest in advertising channels in order to reach its target demographic, thus, it is believed that if these resources and consultation methods are not utilized, the objectives will not be met. The consultancy’s quantifiable objectives are to increase revenue and profit, to sell more art, to organize more art exhibitions for a stronger presence in the UK market, and to develop two further branches in the country.

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Deliverables

Businesses must take the appropriate actions to address the issues they confront. Company A has suffered significant financial losses as a result of the pandemic and the gallery’s closure at that period which has also harmed the gallery’s standing in the sector. To revive the business, the firm’s fixed expenses may have to be increased for the company to expand and reach new clients.

This can be in form of Investing in a suitable site for a gallery which Barton and Wiseman (2014) noted as the cost of the meeting a company’s long-term objectives. Rather than purchase these new locations the company can negotiate to rent the desired places to aid them save money for a certain period of time. This investment would most definitely increase the number of individuals who have the opportunity to visit the gallery.

Company A can also use digital platforms to promote their exhibitions, which will help the company attract visitors from all over the world. By using a digital platform, the business will save money, simultaneously, the firm will have a worldwide footprint (Nambisan, et al., 2018). Additionally, it will make it simpler for the firm to expand.

Risks

According to Fiksel (2015) every company plan entails risk and this Is because the business environment is always changing. Numerous things might go wrong if the corporation invests so much to improve its performance. First, it is important to note that due to the pandemic, individuals have less money to spend on necessities such as food and medication, therefore they spend more on such items.

This condition can make it difficult for the organization to generate more revenue from its business activities since individuals are more prone to satisfy their need for food before any other. Another risk is that the organization may be unable to get the locations they choose on the dates they require. For this case, the organization should do extensive study and preparation prior to relocating to minimize this risk.

Conclusion

Though Company A saw a significant reduction in business during the worldwide pandemic, the reduce fixed expenses may strategically expand its commercial activities and meet its goal of showcasing more Spanish artists. Thus, this consultancy focuses on strategies to revive the business market position before the pandemic and improve the awareness and reach of the company.

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It was noted that the recommended type of consultancy to meet this objective was process consultancy planning. It was recommended because it will assist the firm in using its resources in a manner that enables them to achieve its business goals and objectives. However, there are risks involved in the process, but they may be minimized by taking the appropriate actions to expand and develop the firm in order to reclaim its former position in the business market.

Self-reflection report

The process through which a person examines and reviews their actions and measures to determine how accurate they were is known as reflection. It facilitates the discovery of different methods of doing the same task in order to get a better outcome or value (Schratz, 2020). This work has improved my comprehension of the company A problem, enabling me to examine potential solutions to the issue.

It has also helped me improve my logical thinking skills, time management abilities, and the accuracy with which I convey knowledge. The project has helped me understand the many planning processes that are required before embarking on any firm activity. I’ve learnt about process consulting planning and how organizations may utilize it to examine different business difficulties and devise mitigation plans for the company’s growth and development.

Throughout the research, self-reflection assisted me in identifying my strengths and weaknesses. It has highlighted the talents that I need to develop in order to grow in both my personal and professional lives. this is in line with the assertion of Silvia et al. (2022) who noted that reflection assists in assessing one’s own abilities and actions in order to improve their operations in the future.

The procedure has helped me understand the nuances of the consultation process. I’ve learned how to interact professionally with customers. It strengthened my communication skills since I had to interact with people to get crucial information and knowledge about the concept and the process. The development of abilities and skills has contributed to the growth of my self-confidence, helping me to cope with similar situations in the future more effectively.

REFERENCE

Barton, D. and Wiseman, M., 2014. Focusing capital on the long term. Harvard Business Review92(1/2), pp.44-51.

Fiksel, J., 2015. From risk to resilience. In Resilient by design (pp. 19-34). Island Press, Washington, DC.

Fineartmultiple, 2020. A Third of Art Galleries Closing as a Result of the Pandemic? Can We Really Let This Happen?. Available at: https://fineartmultiple.com/blog/pandemic-art-galleries-london-new-york/ (Accessed 26 January 26, 2022)

Kwon, K., Lee, J.Y., Park, J.G. and Zaballero, A.G., 2020. Process Consultation Within and Across Cultures. The Journal of Applied Behavioral Science56(3), pp.322-346.

Lapalme, J. and Conklin, J., 2015. Combining process consultation and structural interventions. Systems Research and Behavioral Science32(3), pp.298-311.

Michalska, J. and Brady, A., 2022. Galleries worldwide face 70% income crash due to coronavirus, our survey reveals. [online] The Art Newspaper – International art news and events. Available at: <https://www.theartnewspaper.com/2020/04/27/galleries-worldwide-face-70percent-income-crash-due-to-coronavirus-our-survey-reveals> (Accessed 26 January 2022).

Nambisan, S., Siegel, D. and Kenney, M., 2018. On open innovation, platforms, and entrepreneurship. Strategic Entrepreneurship Journal12(3), pp.354-368.

Schratz, M., 2020. From cooperative action to collective self-reflection: A sociodynamic approach to educational research. In Qualitative voices in educational research (pp. 56-70). Routledge.

Silvia, P.J., Eddington, K.M., Harper, K.L. and Kwapil, T.R., 2022. Self-reflection, insight, and mood disorder symptoms: Evaluating the short form of the self-reflection and insight scale with clinical interviews and self-reports. Current Psychology, pp.1-7.

Tyson, S., 2014. Essentials of human resource management. Routledge.



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