business strategy
2. Identify each of the changes that Petra should make to her revised business plan. Do not calculate any financial costs or returns but make certain that the changes are realistic and explain your logic of including each change in your recommendations.
1. A Business Success!
Petra’s Studio for Modern Dance has been in business now for nine years. It has two large studio rooms, an office, and change rooms on the main floor of a three-story office building surrounded by retail businesses.
Petra had studied modern jazz dancing and working professionally(several Broadway-style shows and lost of TV/video gigs) as both a dancer and choreographer. She opened the studio in hopes that it would provide the steady income that she could not get in the entertainment business. At first, she offered only classes in Modern Jazz (her own specialty area) for girls and young women in three age groups, and a single all-ages advanced class.
Right from the start, the studio started getting phone calls about other types of dance classes (ballet, tap, dancercise, all-male classes, ballroom, Latin etc.). Because of her contacts in the industry, Petra found that she could get specialists to teach each of these courses on a part-time basis. Before long, the studio was running at full capacity (she had long waiting lists for each of her classes), offering a huge variety of dance instruction to many different age groups over a wide area of the city.
Petra is starting to hate every minute of it. The problems are enormous. She spends hours returning phone calls from customers who are dissatisfied;
• that the lessons were not what they expected;
• that the instructor did not show up at the last class;
• that the instructor shouts at the students;
• that there are too many “old people” in the class so it moves too slowly;
• that there are too many “young people” in the class who are boisterous;
• that the instructor is teaching the wrong kind of tango;
• that the wrong time was given out on class schedules;
• that the instructor forgot the music for the last class and so a refund should be given;
• that the instructor sucks;
• that the instructor pushed the class too hard and has cause an injury
• …. and the list goes on ….
Petra is making an excellent profit, but she recognizes that this will probably not last unless she takes action.
Her first decision is to hire you because of your business background and objectivity.
Your challenge:
1. Suggest an overall strategy for refocusing this business. 1 page 50marks / 100
2. Identify each of the changes that Petra should make to her revised business plan. Do not calculate any financial costs or returns but make certain that the changes are realistic and explain your logic of including each change in your recommendations. 2 pages 50marks / 100
