Discussion, 6

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6.1:Leadership Research Exercise

Please identify one notable musicindustry decision of the last 10 years and analyze it in terms of four of thefactors we've looked at (see below).

Costs

Cost is one of the first considerations in anydecision-making process and going along with the process of evaluatingalternatives.

 

Benefits

While a first instinct is to look at decisions andoptions in terms of financial viability and profitability, there's a lot moreto the picture. Many scenarios provide hidden potential that we may not haveoriginally considered (in the music industrythe potential for exposure, futurecollaborations or partnerships, long-term revenue generation, ongoingroyalties, etc. are prime examples of this). Be sure to consider who can helpyou identify, examine, and realize this potential.

Financial Impact

The authors point to the importance of consideringthe overall effects on your bottom line; it is also vital to determine how financialimpact correlate and tie to your timeline. Carefully considering not onlyfinancial considerations such as terms and conditions of payment, but who canhelp you analyze financial considerations (for example, your business manager)is critical.

Intangibles

Like the idea of hidden potential,intangibles need to be given careful consideration.

Discussion, 6

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Time

You've already started correlating your goals andobjectives to a timeline. Timing is always a consideration in music and themusic industry. In terms of an artist's career, the window of opportunity is akey consideration. Additionally, timing is key in coordinating a variety ofcampaigns and interdependent activities. Please keep in mind the overall amountof time needed to roll out and complete certain functions. For example,marketing campaigns can be very time specific for labels and promoters.

Feasibility

The aspect of how practical your options are is aparamount consideration, as is ensuring that your planning reflectcontingencies and factors in other potential needs such as outside expertise,staffing, or infrastructure.

 

Resources

Each option or opportunity is different. Somerequire very little in terms of resources or staffing, while some may bedisproportionately time and personnel intensive. Be sure to carefully considerwhat resources may be needed for any given option. This will help to keep youon track, on budget, and will help to mitigate avoidable surprises.

Risk

Accounting for potential liabilities is always goingto be a part of the evaluation process. In the music industry liabilities canvary greatly, from potential legal considerations (copyright or contractualrequirements), to effects that such a decision could have on your audience andmarket, or potential collaborators and vendors.

Ethics

The authors point to the ever-important aspect oflegality and ethics. They also note the effects on the overall community.

Cost-Benefit Analysis

The authors cite the importance of having aprioritization matrix. Having a prioritization system or process in place iscritical in weighing benefits and potential costs or drawbacks (and not just ina financial sense) of a particular decision or option.

 

  

 

 

 

 

 

6.2: Team Building/Artist Management

For this three-part activity, you should:

  1. Pick a seminal music-industry decision (whether historical or contemporary, a success, or otherwise), and once you've identified the decision, you will research and analyze the role that accountability played in the decision-making process. What would have likely been the chain of command (the hierarchy) and who would the decision makers in your example have had to answer to?
    • How do you feel that accountability considerations factored into the decision-making process?
  2. Locate an example of effective team building from other industries. Please identify one example and how you can apply these team-building practices to your career in music.
  3. Artist managers are the key leaders and decision makers in an artist's career. Their decisions range from everyday logistical decisions to career defining decisions. Interestingly, artist management is a discipline that is largely unregulated.
    • In light of the trust and relationship between an artist and manager, what are your thoughts on the fiduciary responsibility a manager has to an artist?
    • Additionally, please post your opinion on the potential artist management conflict of interest from topic 2.

 

 


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