Document on Analysis of Entertainment Company

Added on - 16 Sep 2019

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CIRQUE DUSOLEILAnalysisABSTRACTThe document provides the analysis of success factorsof the entertainment company Cirque Du Soleil.Student’s name[Course title]
Table of ContentsIntroduction1Key Successes2Key drivers of innovation3Ansoff Matrix5Porter five forces5Value system7Pestel Analysis8SWOT analysis9Blue ocean strategy10References111
INTRODUCTIONCirque du Soleil have a tagline that they reinvent circus. They are an entertainment industry;a contemporary circus who do acrobatic performances, acting and various art forms all overthe world. They are known for their imaginary world. Cirque du Soleil is a $120 billionindustry who has a wide business of live entertainment. They have gained a good fame in theworld because of:DanceDaringDexterityGraceThey started their business by performing road shows in streets and within few years of timethey created unbreakable records. This brand is recognized by around 60% Americans. Rightnow Cirque has total 16 different shows all around the globe. Five of them are trending in LasVegas and one in Florida. It is an industry founded in 1984 with 50 million people watchingaround 17 shows till now. They are creating more productions and thirteen of olderproductions are running very strong. Cirque came on television with the first show in 1986and grabbed 20 awards.They started with a team of street players in around 1980 and soon in 21 years this became amultibillion dollar industry. Cirques started with little touring shows and they became dearestamong the audience in Canada. In 1987 they took the biggest risk and agreed to perform inthe arts festival at Los Angeles.Now they are constantly going ahead with introducing new shows every year.KEY SUCCESSES: CIRQUE DU SOLEILThere are various key successes of cirque du Soleil in the past.They are a great sample of the strategy called blue ocean strategy. A good example of thisstrategy. Major factors which kept the audience moving towards them are:Unique venueUnique themeArtistic movesInnovation is one of the biggest success factor, for Cirque, they innovated the way to make amove in the market. This move was successful enough to make them world famous. Eachindustry has innovation factor in one way or the other. What is so special about cirque duSoleil is that if you watch their performance, they don’t use animals. It is all acrobaticperformance, musical and arts performances. So this was something new for people, it was acircus which was not yet explored by any other player in the industry. (Barker, 2002)They get ideas from many artists on how to improve on the current status and what new theycan bring on the table. Not only their creative team but a variety of other resources, they gettheir ideas from. The ideas come from the staff as well as from the performers all around theglobe. They conduct a workshop to grab the feedback of around 5000 employees annually totake their ideas and work on them. Cirque has focussed on costs since beginning, they havecut the cost by not taking animals in their moves. They don’t focus on big stars and the2
training cost which they need to pay for animals. Rather the creative team is not dependent.They get their ideas implement it and are fully free to modify the same. For example once theart director of Cirque has asked the creative team to use painting style for showing plots.Data driven approach: Cirque du Soleil before venturing into any country or any specificarea, they do proper research. What is the type of audience, what will that kind of audienceprefer. A proper market research is done. The creative team work on the research and preparea story line for the performers. Cirque works differently from other circuses. They havedatabase of all the employees, their strength and weakness. If a crew perform well, they areasked to perform a new show with the new theme in other circuses. But at Cirque, theydecide the performers as per the role and the theme from that crew. This provides anassurance that the best performer is selected for that role.Cirque believes that the most important thing which attracts audience is the move of artists,their facial expressions with nice sync and taste of music.Leadership: Cirque is known for the leadership feature which the CEO has. He serve as a bigempowerment for the team and don not impose any restrictions on the team. The team is freeto employ their own ideas. He realises the full potential of the employees and give themenough opportunities to excel. When there is the time to take a decision, he is the one whopays large attention to details. He features and examine every employee very closely becausehe want quality work. The team under him works with a little pressure to deliver excellenceand power.The CEO Laliberte does not get involved with the creative team daily or is not in touch withthem. Once the scene is ready he watch it with fresh ideas and does not mind even if he needsto make a major change in the last moment. He observes the rehearsal with full dedicationand open mind to make it perfect.(“Blue ocean strategy for creating value innovation: Astudy over Kedai digital in Yogyakarta, Indonesia,” 2015)Entrepreneurship, innovation, data driven decision making are the success factors of cirquedu soleil. If the resources are utilised wisely with focus and determination, it will lead to agood success in business.PART AKEY DRIVERS OF INNOVATION AND ENTREPRENEURIAL OPPORTUNITIESCONTRIBUTING TO THE ONGOING SUCCESS OF CIRQUE DU SOLEIL:Cirque du Soleil serves a big advantage in field of innovation. The value innovation modelwhich they followed is as shown. Reduce costs and buyer value fosters value innovationwhich drived their growth.3
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