Lyric Dinner Theatre

In: Business and Management

Submitted By mwrscs1
Words 626
Pages 3
374591
Lyric Dinner Theatre The Lyric Dinner Theatre, a small entertainment venue in St. Louis, has been struggling to make a profit the last five years. Rivka Belzer, who recently got her MBA from Harvard, has been tasked with saving the theatre from closing. The theatre has low morale, overdue bills, a lack of sales and no general procedures outlined. Rivka had no immediate solutions to all of these problems, but rather took small steps to make the business run smoother and try to help the business from failing. Rivka set up payment plans with vendors, cancelled services it did not use, surveyed customers, created a new marketing plan and started in-house food preparation. Unfortunately, these solutions did not create the theatre a profit and Rivka felt that the board was trying to make the business fail, rather than help her create a profitable business. These problems were created from a lack of initiative from the board and investors. Rivka should present her findings to the board and give them two options, invest to save the theatre and hire a new general manager, or allow the business to close. The theatre is in too much debt to turn a profit anytime soon without significant changes, which part of the board doesn’t seem willing to believe.
The Lyric has had three different general managers in its short life span. This, accompanied by high turnover rates, lack of funding and guidance has led to a decline in business for the theatre. The board seems to be very complacent with who they have hired as their general manager. Since Rivka has started the board has become increasingly more hostile towards some of her changes, mainly the Fletchers. The Belzers own 65%, the Fletchers own 35% and the Gibbonses own the last 5% of outstanding shares. While the Belzers and the Gibbonses seemed to be understanding to the changes that she had made, the Fletchers did…...

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