Team 1 Exercise 5.1_ Group Activity in Decision Making

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Southern New Hampshire University *

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515

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Management

Date

Jan 9, 2024

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pdf

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2

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Team 1 Exercise 5.1: Group Activity in Decision Making ((Disclaimer: These are just my thoughts feel free to change, modify, expand, or disregard any of this+++)) Risk Assessment Strategy for Contingency Planning Prioritizing contingency planning from the start requires a comprehensive approach to assessing potential risks and challenges that could arise during the tour planning process. Below is an explanation of how we will conduct a thorough risk assessment and develop alternative strategies: We will begin by analyzing various factors that could impact our existing tour plans, such as the headlining artist's tendency to cancel tours or any ongoing personal or professional issues within their camp. By gathering information and conducting diligent research, we can gain insights into the stability and reliability of the tour opportunity. Additionally, we will research and establish connections with other mid-level artists or bands who have upcoming tours within the same timeframe. By building relationships with these artists and their management teams, we open up the door to valuable industry connections and potential alternatives to our existing plan. By nurturing these relationships, we can create a network of potential tour opportunities to consider if our current tour plans fall apart for one reason or another.. As far as risk assessment goes, we will identify the key factors that can lead to tour cancellation, such as contractual disputes, health concerns, financial strain, or interpersonal conflicts between members of the headlining artist's band, etc. Anticipating these potential risks is the first step we can take to develop alternative strategies to address each scenario. For example, if there are signs of financial instability with the headlining artist, we can explore securing tour insurance or incorporating clauses in our contract that protect us in case of unforeseen circumstances. Furthermore, we will maintain open lines of communication with the headlining artist's management team throughout the tour planning process. This enables us to stay informed about any potential red flags or changes in circumstances that might indicate a higher likelihood of tour cancellation. By establishing a strong rapport and regular communication, we become better positioned to react swiftly and efficiently if the worst case scenario comes to fruition. Career Roadmap To properly engage in contingency planning we must establish a robust career roadmap. This roadmap should include a clear timeline and distinct milestones, which will better prepare us to navigate unexpected setbacks like tour cancellations. Within our roadmap, we would integrate alternative objectives and goals to pursue in the event of such contingencies. One alternative plan we could choose is to spend the time we would have been touring focusing towards building a stronger online presence and engaging with our fans through live-streamed performances, exclusive content releases, or virtual events. Live streaming is a great idea as it allows us to reach our audiences without the long travel distances and exhaustion that is inevitable during a tour. Exclusive releases and virtual events would serve the purpose of sustaining excitement
amongst our fanbase until we get another chance to tour. Additionally, these releases/events would provide us with alternative sources of revenue in place of the touring revenues that we would be receiving had the tour not been canceled. These ideas would not only help us maintain our connection with our audience and continue building our brand in the absence of live tour performances, but allow us to sustain ourselves financially while we remain in “tour limbo”. Exploring Alternative Opportunities In case of a tour cancellation, we would assess alternative avenues for exposure and audience reach. For instance, we could explore partnerships with local venues or festivals in key markets where we have a strong fan base. By organizing intimate, localized shows or participating in festivals, we could still reach new audiences and maintain our momentum. This approach would help us in the long run, as growing our audience enough could get us to the point where we receive offers to lead tours rather than support them! Furthermore, increasing our reach could bring us opportunity to play shows in new cities or new parts of the country. A simple alternative to keep performances going is to go busking. For example, in Boston, you do not need a permit or license to perform, and finding a popular place such as Boston Commons, where a lot of foot traffic is, can help grow a local audience. This local audience can be used to generate more hype for the next tour that will be planned. Time can be allocated to releasing merchandise if there is a large enough following for the band, as this can help increase brand recognition. Related to this is content creation, such as recording jam sessions where you do covers and releasing them on YouTube or doing Q&A’s with all the band members to market themselves and creating fanbases for every member. Another alternative route available to us is that we could dedicate our extra time and energy to focusing on creative endeavors, such as collaborating with other artists, or writing/recording new material. In doing so, we can continue to cultivate our creativity, resiliency, and authenticity, which are core values of our band. Produce/write new music To keep the artist dialed in it’s always good to work on new music. The band could take this time to release some new music and even write/produce new music. It’s important to pivot to another situation and continue to keep creativity going even when one thing stops. Just like we have talked about above for gaining new audiences. I think what’s also is important is the mental health of the artist during the time. Supporting mental and emotional well-being, Artists often face unique pressures and uncertainties that can impact their mental and emotional well-being. Contingency planning can incorporate strategies to support artists' overall well-being, such as providing access to mental health resources, establishing support networks, or fostering a positive and collaborative work environment. By addressing these aspects, leadership can create an atmosphere where artists feel supported, motivated, and empowered to continue their creative endeavors.
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