The Metropolitan Opera (A) Harvard Case Solution & Analysis

VRIO analysis

The major resource that can be utilized by the company as its major strength is its orchestra and team of musicians that makes the reputation of Met more stronger and convince the audiences that Met is the house of great voices.

Although the industry is facing trouble in grabbing the audiences, but still there is a niche that is attracted to pure opera music especially the orchestra. The company has the finest orchestra in the city, and the company can leverage this strength by focusing more on this resource.

This resource is very valuable for the company and using this resource the company can produce more shows at low cost and generate revenues and giving strength to the company from one end. This resource is not very rare but still the team of orchestra Met has considered it as the finest and has a reputation built in the mind of the audiences.

The company can ensure the rareness of this resource by ensuring loyalty in the employees and motivating them. On the other hand. imitating this resource is not difficult, but not as easy as the talent is rare and can serve best for the company in the long run.

Generic Strategy of Metropolitan Opera

The company’s generic strategy remained on serving and educating the audience about the music and delivering quality artistic performances. The business model suggested that the company is a non-profit organization, and it only focuses on promoting art and delivering high quality.

In the initial years, this strategy has served best as Opera was a major source of entertainment for people. This is a major reason of driving large audiences to the Opera Houses. On the other hand, the Metropolitan Opera was the pioneer in the industry and has the first mover advantage which is why it was able to grab a larger market share and consumer base. In the past, the society lacked modes of entertainment that is why Opera was considered as a major source and people used to get attracted to the art.

As the time passed every industry saw rapid advancements and innovations in technology, the mediums of entertainment grew to a large extent which is why it became difficult to attract new audiences to the Opera Houses. This strategy served well for the company for decades, but with the passage of time the company needs to use innovative methods to attract new audience to the Opera Houses.

The aim and objective of the company can remain the same of educating the society about music and art, but new methods need to be adapted in order to ensure the fulfillment of the objective in the current era. Besides that, the only way of sustaining their generic strategy and ensuring growth the company has to innovate and use different mediums for promoting art alongside the traditional Opera.

Innovation is necessary for every industry and without innovation sustaining in any industry seems difficult. Metropolitan Opera has been widely dependent on donors for capital to produce different programs that are not appropriate for the long run. In order to remain in the market and to achieve the designed objective, the company has to bring rapid changes aligned with their generic strategy and develop ways of generating revenues.

This strategy of Met can also become a good source of competitive advantage, but in the domestic industry and not globally. There are not many followers of traditional Opera worldwide, and it is restricted to only America and some major countries of Europe. The industry worldwide has many players, but currently Met is enjoying market leadership. In order to attain competitive advantage through this strategy, the company has to focus on generating revenue.

Revenues play a vital role in attracting new donors and investors. New investments will encourage Met to produce large-scale productions and to reach a mass audience worldwide. On the other hand, the company also needs to focus on using different mediums of promotion and reaching audiences on a global scale.

This strategy of the company is only attracting the age group of people from 60-65 which is not a healthy sign. In order to ensure competitiveness, the company has to focus on targeting a younger audience. This is also vital for the survival of the company as well. The revenue column suggests that the company is lurking into deficits and cannot afford to take risky decisions. But to make their generic strategy into a source of competitive advantage new mediums, new production, and new audience are required...............................

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