Considering the current financial struggle that Syracuse Symphony Orchestra (SSO) is facing, I believe that it is important to look at measures that not only sustain our organization but also create mutually beneficial partnerships. After reviewing the financial strength of our organizations, I recommend that Syracuse Symphony Orchestra enter into an acquisition agreement with Syracuse University (SU). Furthermore, while considering alternative alliances and partnerships, I conclude that it is best for our organizations if Syracuse Symphony Orchestra rejects any strategic alliance with Binghamton Symphony Orchestra (BSO).
Kindly allow me to elucidate my proposal. SSO is a well-renowned organization with a rich tradition of musical excellence.…show more content… Since SU is acquiring SSO, there will be no competition for fundraising and the new collective, with strong brand recognition, will be able to do more strategic and collaborative fundraising beneficial for the financial health and stability. This is because a combined fundraising will increase the opportunity of the organizations to get more visibility and more donors while reducing the cost of separate fundraising. A potential concern can come from the different missions of the two organization as SU is primarily an education oriented non-profit while SSO is an arts oriented non-profit. To better integrate, I think the mission needs to be revised in order to accommodate SSO’s purpose by including the promotion of arts and for SSO it will be critical to be more involved in academics of SU by teaching courses. Taxes imposed on the performances by SSO can be an issue to be concerned about as SSO hosts the performance for the larger audience and not just SU students. This can be resolved by better integration of the missions of the two…show more content… As SU is acquiring SSO and saving us from our financially desperate situation, we can foresee SU coming out as the dominant entity out of this integration. It is critical to mention that for most benefits, financial and otherwise, to accrue to SU, SSO must maintain its own identity and be seen as the continuing legacy of the original SSO. Missions can be altered to enhance the collaboration but I do not expect much cultural clash between the two organizations as long as the musicians from SSO are respected and revered as real assets to SU. As long as there is mutual respect between our two organizations, there should not be cultural differences. SSO hopes to be consulted in the financial decisions made by SU while recognizing that as a financially strong institution, SU has relevant advice to
