The Futuring Approach Essay

Executive Summary

            The kind of business organization I have chosen to indulge in is an art gallery and exhibition center. It will be located in Chicago, due to its rich cultural content as depicted by the presence of different races. The objective of the business is to provide authentic and inspiring art which is a symbolic representation of culture and talent. Consequently, the company looks forward to being the epitome of art and culture by the end of five years.

            A macro-analysis of Chicago has revealed that the region is a perfect region to set up the business. The economic status of the region if stable as the country continues to enjoy a substantial amount of GDP. In addition, it has a lot of financial organizations that are located within the town. This will enable the business to obtain financial assistance when need arises. The country is divided into four main regions that are occupied by different races. The political atmosphere of the region is stable and therefore the business is safe from attack due to political instability. Chicago is a region where technology is embraced the moment it is realized. It was among the first regions to embrace industrial revolution and now it was at the fore front in embracing computer technology to enhance efficiency in various sectors of the economy.

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            The business will be ran and operated by a qualified team of staff. The image of the organization in the eyes of the public will be something to maximize on. Cultural balance will be evident to avoid prejudice from customers. The business will come up with appropriate strategies to counteract the barriers of entry that are often associated with a new business venture. Since supply of raw materials has not yet been established, each stakeholder will have a role of identifying potential suppliers to the business. This is because, the business will be based on the amount of knowledge and insight one has regarding arts related to artists and culture. Marketing through community involvement, advertising through the media and issuing brochures will be used as effective strategies of dealing with competitors. Other than exotic artifacts that are in other galleries, this business organization will use indigenous artifacts as substitute products.

Objective

            This content of this paper covers the desire business venture that I will indulge in. It will be a for-profit organizational venture that will aim at providing clients with authentic and inspiring art which will be symbolic representation of culture and talent. It will involve the gathering and collection of different artifacts that are associated with particular artists and culture. This will enhance integrity and tranquility among the people as they identify themselves with certain pieces of art. This organization will be of value to the community in nurturing talents while making sure these talents will not pass unrealized. In addition, culture will be preserved by conserving the remaining artifacts for the different communities within the United States.

Future vision

            The vision of the organization is to become the epitome of art and culture by the end of five years. Art and culture are a symbol of identity. There are a lot of artists who have died but then, there works die with them as there is not a piece of work to promote their legacy. Each person, no matter how trivial they may seem, have the right to appreciation and recognition of whatever they do. Taking up the responsibility of being the representative of perfect art and culture entails picking up all the bits and pieces of the different elements that make up each particular kind of culture. Time has erased so much that was upheld by those who were before us. Therefore, bringing back this authentic representation for a particular cultural group will enhance cultural heritage and pride.

Location

            This business venture will be located in Chicago. The reason why I have chosen Chicago is because it is consists of different kinds of cultures thus, need to preserve each culture’s heritage as in due time people will intermarry and it will be difficult to know about their cultural backgrounds. In addition, it is evident that the people in Chicago are art lovers as seen by the numerous theaters. Having chosen this location, it is wise to carry out a macro and micro analysis of this location so as to know how it will enhance growth of the business organization.

Macro-Analysis

Economic Situation

            The economic situation in Chicago is favorable. Its contribution to the United States gross domestic product is ranked at position three. It is an excellent place for carrying out business and with regard to this; it was ranked at position four in being a business center. Between 2001 and 2008, Chicago was recognized as a region that had the largest number of corporate facilities which had either expanded, or had just been set up, for six out of the seven years. Chicago was the core for industrialists like John Whitfield Bunn and Marshall Field who engaged themselves in commercial operations. Chicago is a home to several financial institutions that will offer financial back up to the organization (Spears, 2005).

Social-Political

            Chicago is divided into four major sections. There is the North Side which has the largest number of people. There is the Downtown part of the region which is the center for cultural, financial and commercial institutions. Life in Downtown is concentrated at the Loop- an eight by five square block of streets which is encircled by raised rail tracks. The South Side is home to the Museum of Science, industries and the University of Chicago. It also hosts some of the largest parades in the city (Schneirov, 1998). Lastly there is the West Side which is home for the Garfield Park Conservatory, the largest collection of tropical plants from any city in the US. It also has got various cultural attraction sites. Based on the 2000 census, Chicago was recognized as the most densely populated city in the United States. There different kinds of races found in Chicago are, Whites, Blacks or African-Americans, American Indians, Asians and other unidentified races (Koval, 2006).

Legal Political

            Chicago is a democratic region. The political atmosphere in the region is stable with the rule of the Democratic Party against the Republican Party. The new business is going to make use of the social and the political context of Chicago. This is because; a politically stable atmosphere assures one of his or her investment. With a country that is so rich in the racial context, so is its culture and art. This business venture will therefore benefit from the great diversity in this region with regard to art and culture (Montejano, 1999)).

Technology

            Chicago is not dragging behind in as far as technology is concerned. The shift to a modern world came with the industrial revolution, for which Chicago was part. Other the industrial revolution, other forces came into play to see the change from a Western society to an industrial one. Enlightenment, the French revolution and reformation were involved in this transition. The computers are in use for driving the information as well as the service sectors. The computer is the latest kind of industrial and being used in Chicago to execute various functions in these sectors (Sawyer, 2002).

            Computer-driven technology has replaced industrialization and is the leading economic activity. However, even though Chicago is now a high-technology area, it is not any less of an industrial region. The computer technology is now been used to enhance performance in the various sectors, including the agricultural sector, of the economy hence; it is recognized as the leading economic activity. The computer is very efficient and effective. It is an indication that the business venture will be free of many technical difficulties that would be resolved by the computer. In addition, setting up a business in an area that upholds technology guarantees clients of efficient, quick, up-to-date and reliable services (Koval, 2006).

Micro-analysis

Barriers of Entry

            This is a new business, therefore it will experience the challenges brought about by barriers of entry. The customer does not have a stable customer base; therefore, it will have to come up with appropriate strategies that will attract clients. In addition, the are other centers for cultural art that have already obtained the artifacts that are symbolic to different cultural affiliations in the region therefore have a stable customer base (Chicago Virtual Office, “The Strategic Planning Process”).

Supply of Materials

            This is a new business organization, thus will have difficulties trying to get in touch with the sources of authentic artifacts for each culture and different artists. These artifacts are very expensive; therefore a lot capital is needed.

Substitute Products

            In addition to well known and prominent artifacts, this business organization will also have time for the local upcoming artist. This will enhance community involvement in running the organization and consequently, will be a nice strategy of attracting customers. Unlike in the other cultural centers that only seek for highly recognized artifacts, this will also take up local artifacts and help nurture the talents of these upcoming artists.

Company culture

            The company will consist of stakeholders with different cultural backgrounds. This will promote growth in that different ideas from different angles will be put in to ensure the success of the organization. This inclusive approach will help in obtaining the artifacts which in this case are the raw materials. Each person will be given the mandate of linking up with people who have authentic pieces of artifacts that were used in ancient times. Subsequently, this person will trigger negotiations for the purchase of this piece of art at a reasonable price.

Company Image

            The image of the company in the eyes of the public is very important. To present a positive image in the eyes of the public, there is need to offer exceptional and quality services. For instance, the staff members should practice courtesy and hospitality towards the clients. This way, the client will feel appreciated and will desire to come again. In addition, the picture created in their minds about the organization will be a good one.

Organizational Structure

            I will be the manager of the company. This is because I have a degree in business management and for eighteen months, I was a manager in a wholesale shop. I am therefore knowledgeable and full of insight pertaining to managing a business organization like this one. I will be in full control for running the organization in a professional manner. I will have an assistant manager with the following qualifications:

·         A bachelor’s degree in a business related course

·         Shows experience of being a team leader

·         Possesses great communication skills

·         Has excellent organizational skills

The role of the assistant manager will be to assist the manager and to delegate duties to the other staffs.

The other staffs include the following and gender balance will prevail:

·         A cashier

·         Three wardens

·         Two artists

·         Two security guards

·         A cleaner/messenger

·         Financial Resources

Chicago as discussed earlier on is in an economic financial position. In addition, it is a home to many financial institutions. Therefore, the business will have a stable financial base from where to obtain financial services.

Operational Efficiency

            The business will make use of the computer technology in ensuring that the running of the organization takes place smoothly and efficiently. Computers will be used to monitor the environment of the art gallery so as to identify malicious people. In addition, records of all the art pieces will be stored in the computer and a back up of this record will be stored in as a soft copy in a flash disk.

Strategy Formulation

            It is clear that this is a new business organization and therefore, it will be important to strategize on how it will compete with other similar business organizations. To start with, the products that will be on display and for sale will not just be any piece of art. These pieces of art will be of very high quality. As for the upcoming artists, it is unlikely that they will have breath taking pieces of art. It is because of this that the business organization will employ the two artists who will help to improve on the quality of what is produced locally while simultaneously empowering the locals with skills (Frangenheim, 2005).

            As a starter, the business organization will operate on reduced prices but not at a loss. The entry charges will be fair as well as the prices of the pieces of art that will be on sale. Marketing is a very important factor that will involve selling out the gallery to the public. The organization will use the media including the television, newspaper, the radio and magazines. In addition, there will be a very big banner that will be put up at the entrance of the gallery. Unlike the competitors, the business organization will use brochures to sell out the products and the business. The most unique strategy of marketing will be encouraging community participation and enhancement of already realized talent.

Analysis of the Business Organization

References

Chicago Virtual Office. The Strategic Planning Process. Retrieved on 2010, August 16 fromhttp://yourchicagovirtualoffice.com/resources.php?artid=1667

Frangenheim, E, (2005). Reflections on Classroom Thinking Strategies. (6th ed.). London: Sage Publishing Company.

Koval, J. P., et al. (Eds). (2006). The New Chicago: A Social and Cultural Analysis. Philadelphia: Temple University Press.

Montejano, D. (Ed). (1999). Chicano Politics and Society in the Late Twentieth Century. Austin: University of Texas Press.

Sawyer, R. K. (2002). Improvised dialogue: emergence and creativity in conversation. Westport, Conn.: Ablex Pub..

Schneirov, R. (1998). Labor and urban politics: class conflict and the origins of modern liberalism in Chicago, 1864-97. Urbana: University of Illinois Press.

Spears, T. B. (2005). Chicago dreaming: Midwesterners and the city, 1871-1919. Chicago: University of Chicago Press.