Strategic Report on Hospitality, Tourism, Event Environment: ROH

This report provides a comprehensive analysis of the Royal Opera House (ROH) and its hospitality, tourism, and event environment. It begins by outlining the organization's profile, including its history and key visitors. The report then delves into the strategic objectives of the ROH, focusing on nurturing diverse artists, improving health and safety, and leveraging advanced technology. Consumer trends are examined, highlighting initiatives like the Net Promoter Score and the Digital Learning platform. The report also addresses the ROH's sustainability efforts, emphasizing its commitment to environmental responsibility and community engagement. Financial operations and governance structures are described, assessing compliance with corporate practices. Key stakeholders are mapped, and current issues affecting the business are identified, along with their impact. The analysis uses secondary sources, including the ROH's annual reports and external articles, to provide a detailed and insightful overview of the organization's strategic positioning and operational practices within the competitive landscape.

Hospitality, Tourism, Event
Environment

Table of Contents
INTRODUCTION................................................................................................................................3
MAIN BODY.......................................................................................................................................3
1. Organization profile................................................................................................................3
2. Strategic objectives of Royal Opera House............................................................................4
3. Consumer trends.....................................................................................................................5
4. Sustainability...........................................................................................................................5
5. Financial operation..................................................................................................................6
6. Governance.............................................................................................................................6
7. Key Stakeholders....................................................................................................................7
8. Current issues..........................................................................................................................8
CONCLUSION....................................................................................................................................9
REFERENCES...................................................................................................................................10

INTRODUCTION
In the modern era, each industry uses range of effective methods in order to stay ahead in
competition. Similarly, the present study also helps to determine the range of tools and effective
techniques which are needed to gain competitive advantage. The chosen firm for this report is
Royal Opera House (ROH) who offers space to the people for their entertaining purpose. The
study main aim is to determine the range of information to the company so that it will help to
make decision effectively. For that, report will evaluate the organization profile which includes
history and key visitors. Further, it will determine the strategic objectives of the Royal Opera
House with different customer trend. This in turn reflected that set objectives are met by using
different customer trend and then determine the sustainability reason which includes why the
company needs to comply with the sustainability policy.
In addition to this, report will describe how the organization operates financial operations
by describing the source of income. Also, present corporate governance and analyze whether
company comply with the standard good cooperate practices or not. Beside this, by using the
model, study will also map the organization’s stakeholder and describe the current issues that
might affect the business, along with its impact over the stakeholders.
MAIN BODY
1. Organization profile
The Royal Opera House was established in 1732 and the main aim of the company is to
provide platform to many people for their entertaining and engage them in exceptional ballet and
opera. It also provides live thrill events with transportation so that range of people may attract. It
also re-discovering from past experience and also invest upon new work in order to connect
people along with their families (Royal Opera House, 2019. Annual Report 2018/19, 2020). This
in turn reflected that Royal Opera House presents world’s most attained ballet and opera artists
with quality. Thus, the first performance in New Linbury Theatre tool place in 2019 with its
enriching performance with creative voice and ideas. However, in 1858 auditorium it has a
strong revivals but with strong vision of its directors helps to stand it in first position.
The price of the tickets are low and affordable and that is why, one of the show audience
reached by million that creates a brand image at global level. Royal Opera House also employs
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more artists as compared to any other UK art organization and this in turn indicates that it is also
focused upon employment opportunities to people (Cusuem., 2020). With the outstanding
performance, it attracts range of students in order to gain the first taste of ballet and access the
opportunities to develop new talent. So, the program occurred in the opera house reflected that it
provide an opportunity to all type of people in order to increase the knowledge of dance and arts
so that they help others. The key visitors of Royal Opera House are all the type of people who
like to enjoy the place and understand the arts and its forms.
2. Strategic objectives of Royal Opera House
Each organization develops effective strategic objectives in order to generate the best
outcomes and similarly, Royal Opera House key objectives from the latest annual report are as
mentioned below:
Nurture the diverse artists: It has been analyzed that the quoted firm provide
employment opportunities to range of artists as compared to any other UK organization and that
is why, there is an increase participation of diverse performers as well as female practitioners
(Blooploop, 2020). There are many young artists programme who continue to provide training to
many artists so that diverse artists can participate.
Improve health, safety and wellbeing: Another strategic objective of Royal Opera House
where it has been identified that it focused upon health & safety, training courses, sound
management measures. One of the case identified in ROH where a person diagnosed with
hearing issues, but company still work with such bodies in order to promote the best a practices
and let people know that they can minimize the risk. Recently a new muscular skeletal service
was also introduced in order to create awareness related to Mental Health Awareness Week
(Armstrong and et.al., 2019).
Use of effective advance technology: In modern era, ROH is also uses advance
technology in order to increase efficiency and develop new planning system that helps to raise
the workforce management in order to support the management of technical and production
(Ledgerwood, 2017). This in turn reflected that company is focused upon entire areas that help to
improve the vision and attract range of new visitors towards it. It also uses advance technology
tools in order to measure the performance so that effective strategy can be implemented.
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3. Consumer trends
ROH offer platform as per the need of customer and that is why, currently it launch new
program for every local primary school so that the children may increase the performance. To
involve customers within the program, the quoted firm also implemented Net Promoter Score
that provide a core evaluation mechanism at entire world. This in turn assists to increase the
understanding and experience of customer towards a project (Mallin, 2016). In addition to this,
by identify the new trend and need of customers, it has been analyzed that it created stop-motion
photography in order to attract more customer towards it. It has been analyzed that it keeps post
new programs to the websites in order to let them knows about new offers. Along with this, such
website and social media pages helps to increase the viewers and this in turn contribute to
increase the participation level as well.
Therefore, it has been identified that ROH is in process of surveying audience in order to
understand more about new visitors experience that helps to open new project and generate the
best outcomes. Also, it has launched a new Digital Learning platform which includes rang of
teacher-written schemes of work so that they can provide a learning opportunity to their children
(Demirag, 2018). This in turn reflected that ROH provides a range of things and learning
platform to all kind of students without any discrimination and promote them to increase the
participation as well.
4. Sustainability
ROH is also focusing upon sustainability approach in which it promotes people to save
money for their future in order to become more sustainable. Also, the skills workshop and
networking sessions also enable them to create a bespoke environmental plan and grow the
audience. The company also ensure that it comply with environmental sustainability plan that
helps to grow the business at further level of success. Thus, from the secondary sources, it has
been identified that ROH also posted on Twitter that we are thrilled to join the community that
helps to create a positive impact over the environment (Earth Hour Official, 2021). This in turn
reflected that company is focused upon different sustainability act that helps to increase the
participation of customers and deliver the effective results.
ROH also provides an opportunity to the people in order to grow the creative start-up so
that they all become a party of the cultural change. In that, they also assess the ROH expertise
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that helps to generate the best outcome and make them global responsible for the country as well.
There is a transparency between the customers and company that also helps them to involve
more visitors that helps to improve the brand image at global level (Braun, 2019). Overall, it can
be stated that with its strong strategy to engage visitors for the longer term will help to generate
the best outcome for the firm. Like free tickets to those who are going to participate within an
event. This shows that company is able to attract the range of people towards it through such
innovative and sustainable practices.
5. Financial operation
Financial operation means to identify financial position of an organisation. It is important to
determine revenue earned by company and policies and procedures followed by organisation.
Managers of firm are making financial plans and control all the activities of an organisation
(Zhou, 2017). Financial operation includes, financial ratio analysis, profit planning, forecasting
of financial data and making budgets so that targets can be accomplished. It is essential to
forecast profit of company so that plans can be made and improvements can be done
accordingly. It is the responsibility of financial manager to make budgets and divide funds as per
the requirement of firm so that there will be no shortage of funds. It is important to manage all
the activities properly to achieve goals and objectives of firm. Financial manager is responsible
for securing financing of firm and managing all the activities properly. This helps in determining
financial position of organisation and better plans can be made (Huang, Xu and Courcoubetis,
2019). All the data is recorded by manager because past information helps in making future plans
and proper estimation can be done in present. This reduces chances of mistakes and goals can be
accomplished. For achieving target it is important to make plans and budgets. This is beneficial
for growth and development of company. It is essential to make plans so that profit can be
earned. Managers of ROH are making future plans on the basis of past information.
6. Governance
Governance is the process in which laws, norms, power or language of society. It is controlled by
a market or by a network. It means controlling and direction are provided so that work can be
completed on time. It is important for an organisation to apply rules and regulations so that goals
can be accomplished. There are some rules which an organisation should apply so that work can
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be completed on time and it helps in gaining competitive advantage. It is the responsibility of
manager to identify rules and regulations which can be applied by an organisation so that work is
done in centralised manner. Managers are applying policies and procedures which is beneficial
for company and helps in achieving goals. Managers of ROH are applying rules and policies
&procedures are applied so that goals can be accomplished. They have made structure in which
roles and responsibilities of every employee is defined properly. This helps in achieving targets
and work can be completed on time (Liu, Xiao,Lin, and Ca,2020). To accomplish targets it is
important to make proper structure so that there will be no confusion and work can be completed
within the time period given.
7. Key Stakeholders
The key stakeholders for the Royal Opera House are described as follows -
National/International Visitors — These are the main stakeholders who are involved in the
profits and losses which are being incurred by customers. These are the major stakeholders for
ROH as they have high scale of interest and power within the ROH.
Financiers — The financiers for ROH are also the major stakeholders as they are involved in
getting through the financial scales and in this manner the changes have been observed at large.
Financiers are the individuals who are involved in the ROH, and they are the key stakeholders as
they have high interest (Park and et.al., 2017).
Royal Opera Chorus — ROH are the main key stakeholders who are involved in getting
through there scale through which all possible aspects of knowing and analyzing the financial
scales are being identified which have low power but high interest.
Royal Opera House Production Park — ROH also have the scale through which the
stakeholders are kept informed but the power is high and this initiates the scale through which
ball possible factors of power and interest of the production house is being determined (Hadley,
2021).
Therefore, these are the major stakeholders who have been implying to the financial
scales of the ROH at large scale. The main reason why the stakeholders are interested in the
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ROH is that due to its existence which is being majorly performed and the finance which has the
power through which various stakeholders are interested in buying the ROH.
8. Current issues
There are various issues which have been addressed by ROH and were engulfed in political
and press criticisms due to which the Opera House had to face many problems and this made the
news that the management is also not taking care of the Opera House. The ROH is being badly
managed and has become too expensive for visitors to come and incur services and watch the
shows which were being performed at large scale. This created big news as it became the current
issue. Also once the ROH caught fire and this created mess in terms of how people of ROH were
dealing with it (Guachalla, 2019). The officials of ROH became concerned as how they were in
problematic situation. ROH has been the most famous Opera House which was called off for
criticism and various issues were raised which also included stakeholders and the officials being
involved in it. This was the main thing was raised as how officials and the current people who
were involved in ROH were taking the heap of turns through the news which was fencing around
the corner of the ROH.
Due to these problems the government officials and the other major officials of ROH were
in trouble and this made the news which was widespread like fire in the whole country
(Guachalla, 2017). Along with this, the main thing which the ROH faced was that there were
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resignations of the official individuals who were the major concern of how to maintain the ROH
can be done.
CONCLUSION
By summing up above report, it has been concluded that ROH is one of the best organization
who work for the welfare of the people and also focused upon the key strategies that assists to
generate the best outcomes. The present study reflected that it was established in 1732 and with
the changing environment, it also re-structure its premises to attract and offer new services to
their visitors. From the strategic objectives it has been concluded that ROH focused upon
working and health safety of the individual so that it assists to attract range of people. Also, it
uses technology to improve the efficiency of its operations and this in turn creates positive
impact over other employees as well.
Also, through the above report, it has been summarized that ROH determine the
consumer trend and implement the strategy according to it. Such that by determine the market
need, company implement new and advance technology for attracting the visitors so that it can
sustain the brand image at global level. Moreover, with the help of effective sustainability
approach, quoted firm taking efforts in order to create the positive impact over an environment.
This in turn reflected that company uses effective measures in order to improve the overall
environment like uses sustainability plansso that environment can be protected.
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REFERENCES
Books and Journals
Armstrong, G. and et.al., 2019. Marketing an Introduction. 4thed. Harlow: Pearson
Braun, R., 2019. Corporate Stakeholder Democracy: Politicizing Corporate Social
Responsibility.Budapest: Central European University Press
Demirag, I., 2018 Corporate Social Responsibility, Accountability and Governance: Global
Perspectives. 1st ed. Abingdon; Routledge
Guachalla, A., 2017. Social inclusion and audience development at the Royal Opera House: a
tourist perspective. International Journal of Culture, Tourism and Hospitality Research.
Guachalla, A., 2019. The Royal Opera House and Covent Garden: A symbiotic and complex
touristic relationship. Tourism and Hospitality Research.19(2).pp.225-237.
Hadley, S., 2021. Oliver Mears (Royal Opera House): in conversation. Cultural
Trends.30(2).pp.174-186.
Huang, Q., Xu, Y. and Courcoubetis, C., 2019. Financial incentives for joint storage planning
and operation in energy and regulation markets. IEEE Transactions on Power
Systems. 34(5). pp.3326-3339.
Ledgerwood, G., 2017. Greening the Boardroom: Corporate Governance and Business
Sustainability. 1sted. Abingdon; Routledge
Liu, G., Xiao, F., Lin, C.T. and Cao, Z., 2020. A fuzzy interval time-series energy and financial
forecasting model using network-based multiple time-frequency spaces and the
induced-ordered weighted averaging aggregation operation. IEEE Transactions on
Fuzzy Systems. 28(11), pp.2677-2690.
Mallin, C., 2016. Corporate Governance. 6thed. Oxford: Oxford University Press
Park, H. and et.al., 2017. Facilitating Public Access To The Arts: Applying The Motivation,
Opportunity, And Ability Framework To The Case Of The UK Royal Opera
House. Theartsjournal. org. Retrieved May.11.p.2020.
Zhou, L., 2017. Discussion on financial operation mode of agricultural supply chain in Hubei
Province under the background of Internet+. DEStech Transactions on Social Science,
Education and Human Science, (icsste).
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Online
Blooploop., 2020. Top visitor attraction trends for 2020. [online] 6 February. Available at:
<https://blooloop.com/features/visitor-attraction-trends-2020/> [Accessed 14 July 2020].
Cusuem., 2020. Top Technology Trends for 2020: What it means for museums and non-profits.
[online] 4 February. Available at: <https://cuseum.com/blog/2020/2/3/top-
technologytrendsfor-2020-what-it-means-for-museums-and-nonprofits>[Accessed 14 July
2020].
Earth Hour Official (2021) [Twitter] 27thMarch. Available at: Royal Opera House on Twitter:
" Tonight we’re joining millions of others around the world for #EarthHour, which aims🌍
to draw attention to the ongoing climate crisis https://t.co/7SPs1iGr27" /Twitter (Accessed
4th August 2021).
Royal Opera House, 2019. Annual Report 2018/19.2020.[online]. Available at:annual-report-
1819 royal opera house.pdf [Accessed 21stJuly 2021].
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