The disadvantage of such a solution is that such a solution would only target this particular aspect of the organization's expenses and the overall saving in absolute value that could be made is only limited to that.
3. Increase revenues by growing the profile of the museum in the cultural community of the country.
This is a compounded solution that includes an increased involvement in other cultural events in the county, to a better diversification of the events that are held in the museum, a more proactive approach towards increasing the marketing activities of the museum, all these with the same goal: increase the cultural profile of the museum, make it more available to both its visitors and its potential members, as well as to the other potential entities and shareholders.
The main advantage is that this is a long-term plan and, thus, could prove more solid than any of the short-term solutions presented previously. It is a plan to expand the activity of the museum, transform it and diversify it to be more outreaching that it is in the present and, thus, to include a wider category of potential shareholders and supporters, as well as visitors and consumers.
The main disadvantage is that this is not really a one-point solution. It needs a very serious thinking and plan of action, with distinctive ideas and planning, as well as a reasonable timeframe to be achieved and initial resources to be put into it. There is also a certain probability...
The reason for this is that this type of solution addresses the long-term problems for the company rather than just focus on a limited short-term framework. At the same time, the support of the local community and of the local authorities makes for this a thoroughly feasible plan.
The most important thing in the actual implementation of the solution is that the upper management proceeds as soon as possible to an analysis of the existing external environment and decides on potential strategic and tactical objectives. As soon as that is done, it is also recommendable that some of the existing human resources are directed towards supporting the new projects that are likely to be put forward for the realization of the strategic objectives mentioned. Partnerships with other entities that can provide financial backing for all the new projects is also advisable.
Analysis proposed/used
Most of the analysis focused on the SWOT analysis that determined the strengths and weaknesses of the museum. With the strengths in mind, one could propose a far-reaching alternative solution that would help in ensuring the long-term financial stability of the organization.
