Answer To: Who are the stakeholders of Cirque do Soleil? Why are they so supportive of Cirque to exist and why?...
Robert answered on Dec 21 2021
COURSE TITLE: STRATEGIC MANAGEMENT-CASE STUDY CIRQUE DU SOLEIL
PAGE
1
Strategic Management: A Case Study Of Cirque De Soleil
Running Head: STRATEGIC MANAGEMENT: A CASE STUDY OF CIRQUE DE SOLEIL
Strategic Management: A Case Study of Cirque De Soleil
Name
Institution
Executive Summary
Strategic management deals with major issues arising in an organisation in an effort to improve its overall performance. Managers or CEO’s mostly undertake these initiatives on behalf of shareholders and other stakeholders. This is a major initiative in any organisation that is committed to expanding its growth especially in competitive environments. In a nonprofessional’s language, this whole initiative can be described as simply a laid out plan that is intended to steer a company in a particular direction to achieve particular objectives.
A case study on Cirque Du Soleil will help in the analysis of the concept strategic management. This French word means circus of the sun. Established in 1984 by Guy Laliberte and Daniel Gauthier, Cirque Du Soleil is a Canadian entertainment company based in Montreal. As the name suggests, the company engages in performing circus arts and street entertainment. From 73 people who initially started to work with the firm, Cirque Du Soleil now employs 2500 people across the world in various capacities. Although originally intended to be a one-year project, Cirque Du Soleil has grown to be a major source of entertainment globally for many years. The magical antics and colourful costumes of the performing artists has endeared to the hearts of both adults and children alike.
In this case study, issues that pertain to the stakeholders of Cirque Du Soleil will be discussed, who they are and why they are supportive of this art. Questions will be answered as to how the company in an effort to serve the interests of the stakeholders also gains financially. We will also critically examine the beliefs of Cirque Du Soleil and develop a corporate mission for the same.
Cirque du Soleil Stakeholders
Cirque du Soleil has a core philosophy of developing strategic alliances with organisations that look to line up themselves with brand, which is globally associated with a strong involvement with community, quality of service and excellence. It also seeks to have stakeholders who not only focus on sharing values but also focused to make a great impact. Such stakeholders include the CGI Company, Infiniti Company, SAP, M.A.C Cosmetics. CGI is one of the Cirque du Soleil’s stakeholders. There partnership is through the IT outsourcing services and tour sponsorships. Both organizations tend to share the same entrepreneurial and teamwork spirit. Moreover, they have a common heritage, as they both have roots in Quebec, Canada. CGI is a full service business process and IT services company with operations around the world.
Cirque du Soleil started of as a simple organization, which only focused on amusing audiences around the world. It has since revolutionized entertainment with its originality and quality. The two organizations have been driven by their mutual success. This is because of their founder’s sustained leadership, their commitment to excellence and quality, dedication to empower and enrich their communities both globally and locally and their loyalty to the organization’s stakeholders. CGI and Cirque du Soleil have those common strengths and values. Thus, CGI provide Cirque du Soleil’s global technology applications and infrastructure evolution, support and operation (De Wit, and Meyer, 2004).
Another stakeholder is the Infiniti organisation, a partnership that has been built through a natural fit. Both organisations have been able to have an inspired performance through perfection of passion and art and commitment to artisanship. Both have been able to focus on finest details and precision of preparation. Infiniti and Cirque du Soleil have common or shared values. They both demand meticulousness and finesse of the highest degree in form of attention to detail and exquisite artisanship or engineering and high-tech processes’ implementation. This global partnership started back in the year 2010, which has been able to come up with big arena and top shows all around the world. Together, they have been able to capture their audiences with over twenty simultaneous shows at a given time.
SAP is the other stakeholder of Cirque du Soleil, as their official supplier of Global Business Management Software. Through their implementation of software, SAP have managed to help the Cirque du Soleil franchise to become on of the best innovative organisation in the entertainment industry in the last ten years. Their implementation ranges from merchandizing and manufacture of costumes to human finance and resources (“Corporate Sponsorships: Cirque Du Soleil,” n.d).
Through this partnership, Cirque du Soleil has been able to bring delight and wonder to over ninety million viewers in over two hundred cities. In addition, SAP has also been able to provide a platform, which enables Cirque du Soleil to adapt rapidly to the advantage efficiency and transparency and market changes because of the changes in technology.
In any organisational structure, it is imperative to note key stakeholders who have major interests in the firm. Taking any abstract company for instance, these stakeholders may include; shareholders, managers, customers/clients, employees, and creditors. These categories of individuals are important in daily operations and performance of any firm. An organisation therefore through strategic management, would develop policies that would ensure absolute satisfaction to these people....