Science Museum Group Report: Sustainability, Finance and Governance

This report provides a comprehensive overview of the Science Museum Group, encompassing its organizational structure, objectives, customer trends, and sustainability initiatives. It details the group's structure, including the five museums under its umbrella, and outlines its objectives of preserving and showcasing developments in science, technology, and medicine. The report explores customer trends such as virtual and augmented reality and social media's influence. It also examines the group's sustainability efforts, particularly its focus on energy efficiency and renewable energy. Furthermore, the report identifies the Science Museum Group's financial operations, including its reliance on government funding, sponsorships, and ticket income, and defines its governance structure, including the role of the Board of Trustees and adherence to good corporate governance standards. Finally, it defines the key stakeholders and current issues impacting them.

Report for Science
Museum

Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY..................................................................................................................................2
Overview of organisation and its structure..................................................................................2
Organisation objectives...............................................................................................................3
Customer trends...........................................................................................................................4
Outline how the Science museum group is developing its sustainability....................................5
Identify How the Science museum group operates financially...................................................5
Defined how Science museum group is governed and whether it adheres to the standards of
good corporate governance..........................................................................................................6
Stakeholder definition and classification of key stakeholder......................................................7
Current issues that will impact the key stakeholder....................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Science Museum Group includes the Science Museum, the National Railway Museum, the
Science & Industry Museum, the Science & Media Museum and Locomotion. As the globe’s
greatest alliance of science museums, the group use their passion, creativeness and an unequalled
collection spanning science technology, engineering, mathematics and medicine to encourage the
futures of over five million visitors each year (Schirrmacher, 2019). This group was established
in 1909 in London, UK and operate in Museums and institution sector. The report will consider
information about organisational profile, its objectives, consumer trends, sustainability
performance and its financial operations. Further, it will explain about key stakeholders and
current issues which are influencing these stakeholders.
MAIN BODY
Overview of organisation and its structure
Science Museum group was registered under the National Heritage Act 1983 as well as it
is exempt charity within charity Act 2011 and recognised as an charitable through HM custom
and revenue. It was operated by government till 1984 but now has status of non-departmental
public bodies which operating within sponsor department which are division of culture, digital,
sport as well as media. For Science Museum board of Trustees act as an governance body and
there are 5 museums within group :-
 Locomotion Museum or national railway Museum, Shildon – It was opened in 2004
which was in partnership with Sedgefield Brought Council. From 1st December 2017 its
fully responsible lies among the Group (Geoghegan and Hess, 2015). In addition to this,
Museum was focusing on impact of railway, presenting glorious as well as history of
railway in UK and globe. There are approx. 7000 visitors who visited museum in 2018-
19.
 National Railway Museum – This museum was opened in 1975 and located at Leeman
Road, York after British Transport Commission railway collection which was transferred
to Broad of Trustees. Although, National railway museum explore wide effect of railway
on Britain as well as entire globe. In 2018-19. There are approximately 37000 visitors in
museum.
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 National Science and Media Museum – It was established in 1983 at Pictureville,
Bradford as well as named as National Museum of Photography, film and television. But
later on it was named as National science and Media Museum. There are approx. 38,000
visitors who visited in respective museum in 2018-19.
 Science Museum – This museum is located in London as well as its orign was trace in
South Kensington Museum. In addition to this, Science Museum is focusing on exploring
several factors such as science, technology, engineering, mathematics, medicine and
many more. There are more than 4,33,000 visitors in 2018-19 who visited Science
Museum.
 The Science and industry museum – This museum is located in Manchester an d opened
in 1969 as well as registered as charity in 1987 and in 2012 joined the group. Moreover,
it is focusing on exploring ideas which have capabilities modifying the world from
Industrial revolution till now. In 2018-19 approximately 88,000 visitors has visited
respective museum.
Organisation objectives
Science Museum Group was mainly formed for preserving showcase glorious
contemporary and historical development in several areas such as Science, technology,
medicines, media and so on. Although, museum have huge and significant collection in their
areas at global level. In group each and every museum have their individual identity that
provides opportunities to several people as well as groups to have proper knowledge in relation
of their related areas (Morris, 2016). Along with this, aim of museum is to develop society which
is literate that acknowledge past, present and future of several areas such as science, technology,
medicine, transport as well as media for growing science capital that result in inspiring next
scientists, technology, medicine, transport as well as media for growing science capital that will
provide assistance in inspiring the next generations of scientists, inventors as well as engineers.
In addition to this, groups strategic priorities involves core priorities like to grow 'science capital'
within individuals as well as society, for long term sustainability and growth in relation of
collection which result in exceeding visitors expectations as well as supporting priorities that
involves the likes of extending their reach, transforming their estate and increase their income by
harnessing the potential of digital. Museums are charitable organisation whose objectives are
mention below:-
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 Secure each and every object which are exhibited to public as well as these are available
to individual seeking for inspecting them related to research and academic purpose.
 Preserve, conserve as well as adding several illustrious unique & antique objects to
Museum collections.
 Main of museum is to enhance understanding of people in relation of science and
technology as well as other topics and subjects in relation of same.
Customer trends
Customer trends are the trends which create out behaviour of consumer, their wants as
well as in what manner their will perceive products and services which present them. In relation
of business firm these trends results in gaining several opportunities which are essential for them.
Now a days visitors have state of art technology expectation in that organisations are expecting
customized as well as authentic experience. In relation of museum there are some present
customer trends which are mention below :-
 Virtual reality/ augmented reality – It is related to creating virtual layer in relation of real
world. This make utilisation of computer generated sensory inputs like video, sound,
graphics and many more similar to other social media filters (Peñaloza and Márquez,
2020). Furthermore, this technology is adopting by Museums for presenting their
collection in wider manner.
 Social media – Present Museums are trying for connecting with Gen Z as well as
millennials with social media for enhancing number of visitors and revenue. Along with
this social media is providing insights related to collection and share story which result in
generating interest of visitors by social media tools such as YouTube, Twitter, Instagram
and many more.
 Museum Meetup rooms – This area is designed for gathering of people where they can
conduct information discussion as well as engage with other visitors for sharing their
experience and knowledge. This experience will help visitors in learning more about
exhibit experience within egalitarian environment.
This is identified from above objectives that group aimed is to create science capital within
society. For this, museum follows by creating interactive experience, artificial intelligence within
cultural sector and many more. In addition to this, Science Museum group represent
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opportunities for their visitors about discussion related to history, technologies, transportation,
present future science and many more.
Outline how the Science museum group is developing its sustainability
The Science Museum Group places sustainability at the heart of its work. In 2010, the
group created sustainability policy that would sit at the heart of all their official work activities,
but well before that the group were improving thoughts and projects that would surface the way
for the creative work they do today. The respective group increasingly look at the fabric first,
method to sustainability because they develop new projects and structures (Clarkin–Phillips and
et. al., 2018). They can utilise the material they made from to assist passively manage effective
situation for the objects they include. To improve the sustainability the group, the management
require to be effective in energy utilise will see the improvements in creating fabric execution,
energy effective technology an energy generation at their sites and when they improve their
travellers spaces, new materials, effective interactive and intelligent methods will add to the
Museum experience. To developing the sustainability, the group will also be trying to put more
energy back into the national grid than respective group take out with 40MW solar project at
their Wroughton site which is about four times the electricity that the Science Museum Group
consumes.
Identify How the Science museum group operates financially
The Science Museum Group is operated by stakeholder, visitors, exhibitions activities,
government, partnership firm and many more. The respective group is highly grateful to all the
sponsors and supporters that helped to raise fund in new philanthropic and sponsorship earning
and commitments. Their effective support helps the team to deliver a broad and different range
of proposals with the main funding prevented for a number of long term initiatives that are
properly transformational for the museums and the collection (Gummin and et. al., 2018). Its key
partner like BP, Samsung and other make an effective contribution in operating is financially.
Along with this there are number of visitors visits per year and contribute in raising a huge funds.
Exhibition launches, dinners, private views, lecture series and thought leadership discussion take
place throughout the year and provide an option to thank key supporters and offering a platform
to share the Group’s aims. In rising fund, ticket income is the key earning which effectively
operating this Group financially.
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Defined how Science museum group is governed and whether it adheres to the standards of good
corporate governance
The Board of Trustees of the Science Museum is accountable for the whole of Science
Museum Group. The trustees, who may number among 12 and 20, are employed by and
accountable to the Prime Minister by the Department for Culture, Media and Sport. The director
of SMG as chief executive Officer is accountable to the Board of trustees and as accounting
officer is responsible to DCMS for compliance with the Management Agreement (MacPhail,
Richardson and Colla, 2019). Within the structure of their statutory roles as stated under the
national Heritage Act 1983, the function of the trustees is to set up SMG’s policy, reconsider
execution and promote meetings to main administration posts. In context of governance of SMG,
the trustees provide guidance and expertise to the chairman on establishing and executing SMG
plan of action. The recruitment and staffing takes place in according to the processes explained
by DCMS and the office of Commissioner for Public Appointments. The explanations of the
duties and functions needed are endorsed, interviews organised ad suggestions made to DCMS to
appointment by the Prime Minister as per the National Heritage Act 1983. When the new trustees
are employed, officers of SMG offer both general briefings regarding SMG and the Board of
Trustees in a charity and non-departmental public body reference and particular information
about specific areas of interest. The respective organisation Directorate has accountability for
coordinating secretarial roles for the key Board and oversight of governance understanding and
administration of Board committees.
In Science Museum Group, the management adhere standards of good corporate governance
in different functions of venture. Within the respective firm, the statutory and other duties drive
from the National heritage Act 1983, SMG is also an exempt charity and must fulfil with reliable
laws and regulations. Along with this, the Secretary of State and other individual of the DCMS
ministerial group will account for the particular venture’s business in Parliament. To remain the
standards of effective corporate governance, the respective duties of the SMG are perform by
Director that is employed by the Board of Science Museum Group with the support of Prime
Minister (Ostman, Zirulnik and McCullough Cosgrove, 2019). The Board of SMG also assure
that effective agreements are in place to offer assurance on risk administration, governance and
interior control. The board is desired to ensure itself of the efficiency of the intrinsic control and
risk management methods and tools. The Board is well equilibrium in composition and supports
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the Director in directing the Group by strategic direction, analysing process and accomplishment
of goals and assuring good governance is in place. The Board is supported effectively through
immense committee administration. Constant evaluation through the Board of its efficiency,
considering the views of superior staff, makes sure that the Board is re-analysing its actions and
activities to continue to develop its execution.
Stakeholder definition and classification of key stakeholder
As per the view point of Edward Freeman’s, Stakeholder is considered as a party which
have an interest within organisation as well as may either impact or be impacted through
business. Basically, they are individuals, team or entities which are affected through business
activity. Within Science Museum Group, this is classified into two internal and external
(Clarkin–Phillips and et. al., 2018). Internal stakeholders are the individuals whose interest
within entity comes by direct relations like staff, owner, manager and others. External
stakeholders are those individuals who do not directly perform with firm but are impacted
through particular business activities and results. Such as suppliers, shareholders, consumers and
many more. In context of Science Museum Group some internal and external stakeholders are
discussed below:
Internal Stakeholders
 Manager: It is identified as internal stakeholder who concentrates upon maintaining
effective strategy for firm growth and success. So, this is based on manager to develop
proper tactics for making effective business decision in upcoming time period. Therefore,
this is essential for Science Museum Group administrative to formulate effective strategy
in order to perform various practices appropriately. Moreover, this also aids to enhance
level of productivity in future time duration.
 Employees: This is considered as the key internal stakeholders within Science Museum
Group. It concentrates upon enhancing profitability as well as productivity into future
time duration (Gummin and et. al., 2018. 2017 ). Moreover, they are group into the
trenches with day to day business functions as well as perform directly with respective
firm managers.
External stakeholders
 Suppliers: It is considered as a external stakeholder part in Science Museum Group
wherein the key concentration is to maintain affirmative as well as longer period relation
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with them which would be helpful in facilitating benefits of longer run contractual
relations.
 Shareholders: This external stakeholders in Science Museum Group have an interest into
operations of business since it are counting upon enterprise for remaining profitable as
well as facilitate returns upon its investment within firm (Lee, 2019).
Apart from these, there are various more importance internal and external stakeholders such
as customers, government, board of directors and many more. All those plays essential role
within Science Museum Group effectively and efficiently.
Current issues that will impact the key stakeholder
The current issue that is highlight presently is COVID-19, the global corona virus pandemic
is considered as an unprecedented internal crisis. The person, financial and economic affects
have been large as well as this is not clear that how fastly virus would be brought under control
as well as common economical can resume. Due to this, it has been determined that there is a gap
among firms that are performing an effective job of seeking after its staff as well as those which
are not. In context of Science Museum Group, its workers, business are also have
accountabilities towards boarder set of stakeholder involving its clients as well as suppliers,
various among them are also facing vast damage (Goff and et. al., 2018). Moreover, because of
this issue, tourist or customers do able to visit entity so this have negative impact upon business
which have direct affects on staff income level as reduction in incentives etc.
CONCLUSION
From the defined information it has been summarised from the defined information that
Science Museum Group is a collection of British museums. The group effectively follow the
consumer trend and consider different ways to manage and improve its sustainability. Along with
by following effective ways and getting the support of financial institutes as well as government
it operates financially. DCMS and other government bodies assist in governing it as well as the
Board of SMG adheres to the standards and benchmarks of good corporate governance.
Government, visitors and many more are its stakeholders and COVID 19 pandemic is the main
issue which currently influence its key stakeholders.
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REFERENCES
Books and Journals
Geoghegan, H. and Hess, A., 2015. Object-love at the Science Museum: cultural geographies of
museum storerooms. cultural geographies. 22(3). pp.445-465.
Morris, P. ed., 2016. Science for the Nation: Perspectives on the History of the Science Museum.
Springer.
Peñaloza, G. and Márquez, S., 2020. Making Meaning of Science: An Experience of a Science
Museum in Fostering Dialogue Between Young People and Science. Human Arenas,
pp.1-15.
Schirrmacher, A., 2019. North American World’s Fairs and the Reinvention of the Science
Museum in the 1960s. Behind the Exhibit, p.158.
MacPhail, V.J., Richardson, L.L. and Colla, S.R., 2019. Incorporating citizen science, museum
specimens, and field work into the assessment of extinction risk of the American
Bumble bee (Bombus pensylvanicus De Geer 1773) in Canada. Journal of insect
conservation, 23(3), pp.597-611.
Ostman, R., Zirulnik, M.L. and McCullough Cosgrove, J., 2019. Storytelling, Science, and
Religion: Promoting Reflection and Conversation about Societal Issues. Curator: The
Museum Journal, 62(2), pp.117-134.
Clarkin–Phillips, J. and et. al., 2018. Fostering the artistic and imaginative capacities of young
children: Case study report from a visit to a museum. International Journal of Early
Childhood, 50(1), pp.33-46.
Gummin, D.D. and et. al., 2018. 2017 annual report of the American association of poison
control centers’ National Poison Data System (NPDS): 35th annual report. Clinical
toxicology, 56(12), pp.1213-1415.
Lee, D.H., 2019. Minimizing the Dangers of Air Pollution Using Alternative Facts: A Science
Museum Case Study. World Medical & Health Policy, 11(4), pp.379-394.
Goff, E.E. and et. al., 2018. Applications of augmented reality in informal science learning sites:
a review. Journal of Science Education and Technology, 27(5), pp.433-447.
Isaev, V.S., Naugolnykh, S.V. and Kirilishina, E.M., 2018. Permian fossil plants from the
sediments of the Vorkuta Series at the Pechora coal basin in the collection of the Earth
Science Museum of Moscow State University. Moscow University Geology
Bulletin, 73(5), pp.434-443.
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Tran, L.U., 2019. The how and why of Reflective Practice for Science Museum
Professionals. Chapter in The Reflective Museum Practitioner: Expanding Practice in
Science Museums.
Lee, V.R. and Wilkerson, M.H., 2018. Data use by middle and secondary students in the digital
age: A status report and future prospects.
Price, C.A. and et. al., 2019. Staff matter: Gender differences in science, technology, engineering
or math (STEM) career interest development in adolescent youth. Applied
developmental science, 23(3), pp.239-254.
Online
Science Museum Group. 2020. [Online]. Available Through:
<https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/
file/630058/SMG_R_A_2016-17_INSIDE.PDF>.
A Sustainable Future. 2014. [Online]. Available Through: <
https://blog.sciencemuseum.org.uk/a-sustainable-future/#:~:text=The%20Science
%20Museum%20Group%20places%20sustainability%20at%20the%20heart%20of
%20its%20work.&text=In%202005%20we%20became%20the,of%20energy%20for
%20the%20museum.>.
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