Analyzing the UK Government's Bailout of Museums and Theatres

This report examines the economic factors surrounding the UK government's £1.57 billion bailout of museums, galleries, and theatres. It analyzes the stakeholder approach, particularly focusing on the roles and perspectives of owners and directors within these institutions. The report discusses the advantages and disadvantages of owners as stakeholders, emphasizing the importance of business experience in navigating economic challenges. It considers the potential for government support to uplift the cultural sector, while also acknowledging the potential drawbacks of relying solely on owner-driven decision-making, such as resistance to change management and fear of failure. The report concludes by highlighting the significance of stakeholder analysis in ensuring the long-term success and economic viability of these cultural institutions. Desklib offers a wealth of similar reports and study resources for students.

Government bailout for UKs
Museum galleries and
theatres

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Advantage of owners as stakeholders..........................................................................................4
Disadvantages of owners as stakeholders....................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................1

INTRODUCTION
The report describes the for and against description of economic factors when dealing with
stakeholders.
MAIN BODY
The economic factors are said to be one of the most probable approaches with regard to any
organisation. The economic geography of an organisation or a particular entity will be enriched
with the stakeholder participation and their interest towards raising the environmental claims is
said to be one of the most prosperous method of dealing with economic actions. These economic
policies when embedded in an atmosphere where the social relationships are gratified than the
stakeholder theory will probably be the best in deriving the standard (de Oliveira and et.al,
2019). Stakeholders approach is necessary in order to derive the business and its atmosphere
along with all the entities that can be gratified. In this regard the major focus will be probably on
the development factors where the stakeholders will analyse the factor that will have to be
inhibited in the organisation such that the economy of the organisation will rise to certain level
and the profitable standard can be approached. In rising this economic level the stakeholder
theory plays a major role where the entire management is relying upon the decisions of the
actions that can be incorporated by the stakeholders. Although these actions are their decisions
that are being taken by the stakeholder sentence result in a positive or a negative atmosphere yet
they have certain impact over the organisation (Johnson-Cramer and et.al, 2017). This impact is
analyse to be a positive aspect with regard to the case study that is being highlighted in this
regard which is to save the theatre. In order to save the theatre the economic standard will have
to be raised and the stakeholders play a major role in this. At there are certain atrocities that will
revolve around stakeholder analysis and their decision making policies but still most of the
policies will highlight the choices that are to be incorporated. It is not until when the
management is for towards improving and improvising the definite set of artists that are
participating in the galleries and are giving their performance to the best of their ability. Amidst
of the directors and owners mostly emphasize upon the directors as the best stakeholder because
they had to run after the choices that could be beneficial for the theatre upliftment. The owners
are full in charge of the entire activities that are being taken place because directors are to direct
people and owners are to maintain the entire organisation. Therefore owners are regarded to be

one of the best stakeholders and economic factors that will fall in their regard will be the
potential to bring about the glory of theatres that was once prevailing.
Directors are preferred to as stakeholders. The advantages of owners as stakeholders will
represent certain entities like that of business experience (Pedrini and Ferri, 2019). It is a
business experience that will drive the entire entity of the organisation or a set of activities that
are being considered. In this regard the economic factors can be more evaluated by the business
experience and that can only be possible by directors of the theatre. When the theatre is running
backward in terms of economic policies as well as the factors are running on a negative term
then it is the experience that matters. In this regard addressing in regard to bailout the best
stakeholders will formulate the decisions and based on the business experience will also
strategically form ideas that must bring finances. The £1.57 billion support package which was
announced by government will bring about the important facets that would uplift the relationship
and also they can come into partnership that word highlight the choices of the theatre. Business
experience is necessary in order to manage the activities and also the board of directors. Their
role is said to be one of the immense activity that will bring about a set of planning as well as
there can be a long-term success that can be evaluated. £5.2bn exports of arts and culture goods
and services can be gratified with directors being stakeholders. Their experiences such that they
can attract individual upon guiding and also the members can we went to listen to whatever
decision for the situation they are handling. perhaps every opportunity that will be directed
towards an extreme benefit is in regard to owners as being the stakeholders (Oppong and et.al,
2017).
Talking in the prominence of the director point of view I would like to ensure the fact that the
theatres require lot of back up in order to operate. There are many resources that are required to
be incorporated and that is only possible if the government bailout is for the theatres. Unfolding
all the mechanisms that are required to kickstart the most authentic approach towards the
theatres. This requires a lot of economy which can only be possible with sufficient funds. To
meet the expenses that are in due of its operations to bring back the old portraits into existence
and delay in the bailout is bringing about a huge loss which is oriented with the systems. The
directors stakeholders will always look for a better opportunity and also for a number one place.
This sometimes may not be beneficial but the individual will also have to be incorporated in
taking the decisions. It is not only the sole owner that our contributors of the entire theatre and

also there are certain components that will have to be included while making decisions. Own
decision-making policies are not up to the mark unless and until they have the supreme power in
order to communicate as well as to take charge over the entire decisions. Most of the owner that
are dealing with a theatre will not probably enjoy to go at the change management structures.
This will make them to stagnate at certain policies and also act as barrier in moving ahead with
the factors and modern technologies. This is one of the drawback in bringing about a big loss to
the entire theatre full stops for the entire modification of the theatre and to bring back to previous
glory the directors will have to work upon certain policies that could introduce and also to inhibit
the policies of change. In this regard the theatre could get a globalised reputation which is one of
the important one while dealing with the key issues of globalisation. There is also an effect that
is put forth with regard to the economy in this regard where without in hitting the policies of
change that cannot be an economic improvement. People will go after change and we being
directors will also have to inhibit the policy of change fact that they can result in profits
(Lehtinen and et.al, 2019). One of the most probable factor that will fall in regard to us being
directors going stakeholders is that they fear of failure. Failure is common and it will have to be
taken in a more convenient way such that all the strategies that can win over bring about best
possible results can be initiated. In this regard fearing failure will not draw results and the
directors being stakeholders will have to stand unique and strong in determining their policies
such that the entire theatre could go in terms of economic value.
CONCLUSION
Through this report one can ensure the fact and the ideas that are a part of stakeholder analysis.

REFERENCES
Books and journals
de Oliveira and et.al, 2019. Stakeholder management influence on trust in a project: A
quantitative study. International Journal of Project Management. 37(1). pp.131-144.
Johnson-Cramer and et.al, 2017. Re-examining the concept of ‘stakeholder management’. In
Unfolding Stakeholder Thinking 2 (pp. 145-161). Routledge.
Pedrini and Ferri, 2019. Stakeholder management: a systematic literature review. Corporate
Governance: The International Journal of Business in Society.
Oppong and et.al, 2017. A review of stakeholder management performance attributes in
construction projects. International journal of project management. 35(6). pp.1037-1051.
Lehtinen and et.al, 2019. Stakeholder management in complex product systems: Practices and
rationales for engagement and disengagement. Industrial marketing management. 79.
pp.58-70.
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