236972018-Fina-Cc-Case-London-Youth-Symphony

236972018-Fina-Cc-Case-London-Youth-Symphony - I Point of...

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I. Point of View The point of view of Daina Janitis will be taken for this case being that she is the President of the London Youth Symphony (LYS) with a vast experience and knowledge in managing the company. She also has access to data necessary in coming up with the solution. II. Statement of the Problem How will the London Youth Symphony financially sustain its operation for the upcoming year, 2005, through an increase in enrollment rates ? III. Statement of the Objective/s: To establish a proposal that increases LYS’ enrollment rates (at least 40 enrollees) To maintain a minimum bank account balance of $30,000 and break even in 2006 To provide LYS all its necessary needs (e.g. labor force, equipment) IV. Assumptions: 1. Most musicians are hired during Kiwanis Festival The hiring of additional musician caused inconvenience to the company as well as to the parents. The hiring resulted to an increase on LYS’ expense particularly on payment for the hired musicians and renting fees. 2. Annual Renting Fee LYS needs to rent Wortley Baptist Church annually in order to practice for its concerts and competitions. LYS uses the facility every Saturday 3. Relationship of Tuition Fee to Enrollment Rates The increase of LYS’ tuition fee resulted to a decrease on its enrollment rates. If LYS continues to increase its tuition fee for 2005, it may not reach the objective of the case to have at least 40 enrollees. 4. Young Strings enrollees Currently, there are 46 enrollees for the YS program. As stated in the case, this number is expected to remain constant with the same tuition fee price of $145 per student. 5. Discrepancy between number students listed in the program and paid enrollees
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Although the program has sufficient number of students enrolled, not all of them pay. This results to a negative effect on LYS’ costs and income. V. Alternative Courses of Actions (ACA) T he following are the Alternative Courses of Actions in solving the problem: 1. Full scholarship for 70 (maximum) LYS enrollees and 46 (maximum) YS enrollees 2. Assimilate with the FC and school bands/orchestra 3. Rebranding London Youth Symphony VI. Analysis of every ACAs ACA 1. Full scholarship for 70 (maximum) LYS enrollees and 46 (maximum) YS enrollees QUANTITATIVE ANALYSIS: Assumption for year 2005: Granting that the institution has a healthy financial status that could cover all its operating expenses for a year without charging tuition fees, it would be expected that a significant increase in the number of interested applicants would arise. However, to be able to grant full scholarships to all enrollees without incurring losses, LYS has to limit its total number of enrollees to 70 and YS to a maximum of 46 enrollees. This could be done by imposing a stringent screening tests for talent or mental aptitude or whatever criteria the institution decides upon.
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