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YoYo Ma And Silkroad Case Solution
Yo Yo Ma founded the Silk Road Project in 1998 with a vision to reduce cultural barriers by using the force of art and music to unite different cultures found in different parts of the world. The group was composed of musicians and artists, coming from diverse backgrounds. The group functioned as a non-profit entity and developed a strong brand name at the international level. It developed close relationships with educational institutions so that it can contribute towards eliminating educational barriers. The group received various accolades by performing in different major events and continued to exist as a group.
Following questions are answered in this case study solution
Analysis of the External environment
Integration of Major Strategic Issues
Available Alternative Strategies
Recommendations and Implementation Plan
Case Analysis for YoYo Ma And Silkroad
It functioned like a loose organization, which raised concerns pertaining to its sustainability and effective management. Music is an important instrument of propagating soft images for any culture, and it has the capability to attract a mass audience. The business environment was also favorable for the group, as it got the support of renowned artists and institutions across the world. However, there are several strategic issues facing the group, particularly concerning the management. This report suggests tree probable options and recommends the formation of two strong divisions in the group, art, and management. This is because then the group can function as an effective non-profit organization.
2. Internal Analysis
Silk Road Ensemble was formed as a group of artists working to bridge cultural barriers between different cultures, found in Asian and European cultures. This was also coupled with the resolve to reduce socio-economic and educational barriers. It was a collaborative network of artists, coming from different countries, working together with the purpose to unite people from diverse cultural backgrounds by musical shows. Yo Yo Ma was the founder of this silk-road project, and he led this project to develop a respectable name in the musical industry. This group of musicians and artists travelled from different countries, performing in different shows and ceremonies. This project gradually evolved to developing strategic partnerships with educational institutions and local communities in different parts of the world. Diversity was a central feature for the project, as musicians often faced communication barriers during coordination with each other during performance, but even then, they came up to the expectations of their audience.
Silk Road Ensemble gradually became an organized group, after performing multiple festivals and workshops. This gained a lot of popularity for the group. As far as the marketing function of the group was concerned, the awards and accolades received by the group and its members helped it to become a renowned brand as a musical group. The group performed at important events in renowned locations like Harvard University, Presidential Ceremonies, World Economic Forum’s cultural events, and various events. This added to the popularity of the group. The artistic group also has renowned musicians from across the world and presented unique musical pieces that set it apart from various other musical groups. As far as the financial condition of the group is concerned, its revenues vary to a considerable extent depending on the organization of shows and events. For instance, in 2015, it was $2.64 million, but in the very next year, the revenues dropped to 0.6 million. As far as the organizational strategy of the group is concerned, the project worked as more or less a flat hierarchy, where everyone was encouraged to participate in the management of different events and workshops.
In order to better understand the internal dynamics of the group, kindly refer to the S.W.O.T table given in the Appendix section.
3. Analysis of the External environment
The general environment under which the group performs depends on a variety of factors. Music has evolved an important tool to unite people coming from different backgrounds. Musical bands like Beatle have enjoyed popular recognition in the international arena, and have often acted as a binding force between different cultures and traditions. These musical groups have attracted a mass audience from different countries. It has occupied an important position as a propagator of a soft image for any culture. Music has also been recognized as an important academic discipline in major universities around the world, like Harvard, Yale, and Stanford. This shows the importance of the discipline of music as an essential element in society and culture. Technological development has also helped many artists to showcase their talent on digital platforms like youtube and social media platforms, which provides a platform for them to harness their artistic potential. However, live performances have always maintained its stature, and have occupied a distinctive position in the society.
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