Free

Success Story of Steppenwolf - Case Study Example

Comments (0) Cite this document
Summary
The objective of this study is to identify the organizational performance factors that led to the success of the Steppenwolf it has today. Specifically, the writer would emphasize the leadership model implemented at Steppenwolf and describe how it contributed to the company management…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.8% of users find it useful
Success Story of Steppenwolf
Read TextPreview

Extract of sample "Success Story of Steppenwolf"

Steppenwolf Case Study
The story of Steppenwolf could be considered one of the typical ‘rags to riches’ true to life experiences and has served and still does, as an encouragement not only to the entertainment and business industries but also to the whole world. Here is just one of the conventional success stories that survived amidst financial troubles and lack of management skills but had the skills in the entertainment industry, fuelled with the passion any artist has that became the primary investment to the now respected company. A leader could either make or break him self and his followers and these elements have been seen in the process of the making of Steppenwolf. Finally bending for a change to save the industry and many others depending on it, the founders Sinise, Perry and Terry Kinney (Fisher, Kushner & Chen) changed the managerial staff from members of the ensemble to educated and trained business people who know just the loops and turns of the course.
This major change mirrors the truth behind what McDaniel and Thorn said about change which is primarily caused by a deliberate and strategic plan and though chaos would not be a part of the plan, it is an inevitable consequence that follows in every endeavor to the betterment of what is currently there, especially when it has been there for a long period of time and the people have been used to it. Considering stability, one cannot just say an organization is in such a position basing from the number of years of its existence but has to look even deeper to how the business is faring. Steppenwolf has shown its strength through its early years through voluntary assistance and sacrifices of its members but behind the show, was the fact that it was financially struggling and has been for years. The company may have been strong but was not stable as it placed the people within, in the brink of financial break as they look up to the company to support them. The change at Steppenwolf was not openly welcome by the founders nor the ensemble but it has to come and this proved to be a heart-wrenching experience as members of the ensemble were displaced by outsiders.
Strong leadership as seen by McDaniel and Thorn should see through cold, hard and truthful terms and not romanticize the situation as Steppenwolf probably did during its first two decades. Waking to the harsh reality that the industry is dying and that Steppenwolf has many others to wake up, though tough was the decision made, the founders had to finalize and stick to their decision and prove them selves good leaders. Another change that happened is the birth of a vision that may have been agreed upon through a common motive but was never put into words whether vocally or written. As co-founder Kinney confided to Chicago Tribune in 1995, “There was never any real agreement about how to run the place, ever. The only agreement really, took place on stage, a kind of magical charge between us as actors”, they then found the problem that is greatly affecting the company’s success and so the change followed and eventually proved to be a successful act.
The equation may most probably present the idea of balance just like in any mathematical equation wherein when there is no balance to it, then, it is wrong. The same is true with the business of art where the artistic part may be very successful but is not well compensated financially, the equation is not balance and something has to be done to make it right. In the case of Steppenwolf, balance has been achieved in the aforementioned change that took place. This eventually affected all other aspects of the whole like the earlier concepts embraced by the organization where they had to sell more tickets to pay off all their responsibilities, wherever due. As it is pointed out by the theorists that the traditional means of selling more tickets and raising more money (McDaniel & Thorn) cannot balance an organizational equation rather has to find an equation that faces reality.
Taking a leadership position at Steppenwolf, I would have not done anything differently because I see they have learned much of a lesson in putting their artistic skills and business together in harmony to work for the benefit not only of the company or the people working in it but also benefits other members of the society. However, I would have done the change earlier so the company could have avoided a stagnant period, struggling to survive. It has been wise for the founders to have accepted the change though they themselves did not like the idea of it at first.













References
McDaniel, Nello and George Thorn. A Dynamic Balance. n.d. National Endowments for the Arts. http://arts.endow.gov/resources/Lessons/MCDANIEL_THORN.HTML. July, 6, 2011.
Procio, Tony and Clara Miller. How Steppenwolf Excelled, First on the Board, Then the Boardroom, and Ultimately on the Balance Sheet. 2003. http://nonprofitfinancefund.org/files/docs/SteppenwolfWebVersion.pdf. July 6, 2011. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Success Story of Steppenwolf Case Study Example | Topics and Well Written Essays - 750 words”, n.d.)
Success Story of Steppenwolf Case Study Example | Topics and Well Written Essays - 750 words. Retrieved from https://studentshare.org/business/1427780-assignment-comparison-essay
(Success Story of Steppenwolf Case Study Example | Topics and Well Written Essays - 750 Words)
Success Story of Steppenwolf Case Study Example | Topics and Well Written Essays - 750 Words. https://studentshare.org/business/1427780-assignment-comparison-essay.
“Success Story of Steppenwolf Case Study Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/business/1427780-assignment-comparison-essay.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Success Story of Steppenwolf

Success

...will automatically turn out to be a success story. For instance, someone may successfully impose a new culture that is very useful in promoting him or her in the next level of life. Processes involved before achieving success is never friendly due to the ruggedness met on the way which may greatly affect an individual. No surrender attitude is very vital in achieving great things in life. Challenges that face people before achieving success are just enormous and may seem unacceptable to other people hence prompting them to drop the agenda before final accomplishment. Creativity and initiation of new ideas is very crucial as far as success is concerned...
2 Pages(500 words)Essay

The Story of Success by Malcolm Gladwell

...The Story of Success by Malcolm Gladwell Introduction “The Story of Success” is a book written by one of the most profound writer called Malcolm Gladwell. Gladwell has an extraordinary gift of simplifying things that seem to be complex into simplified knowledge. He is alive and rational writer in his works as he quests for rational justification for various obvious concurrences, mysteries, and daily problems. He is an opportunist in an intellectual sense, in that he manipulates new fashion of writing with smart phrases to give details and description of given social phenomenon. In his book, “The Story of Success”, Malcolm Gladwell tries...
6 Pages(1500 words)Book Report/Review

FedEx The Success Story

...FedEx - The Success Story FedEx is one of the world's leading companies in the field of transportation, delivery, information and supply chain services. Its operations are global offering a variety of solutions to customers worldwide. The company rose to become a leading and trusted brand by developing leadership practices that drew on employee commitment, loyalty, discretionary effort, creativity and expertise. This has enabled the company to thrive and prosper in the global environment and stay ahead of the competition. The key to FedEx's rapid growth has been due to the company's open and helpful work environment that encourages employee participation in the innovative process. This paper looks at...
10 Pages(2500 words)Essay

Analysis of Case JetBlue Airline's Success Story

...JETBLUE: SUCCESS STORY JetBlue's survival and success gained immense popularity by virtue of being a firm that was operating in an industry that was losing money rapidly. Airlines industry in the United States incurred major losses after September 11 and was actually encountering financial crisis even before the incident. For a young airline, surviving in such a tough environment was anything but easy. It was important to understand that the only way to stay afloat and succeed was by creating competitive advantage and building on it. However competitive advantage was not easy to discover. For one, all airlines were facing serious financial crunch with customers losing confidence in...
5 Pages(1250 words)Essay

The Success Story of Dell

... The Success Story of Dell The success story of Dell has become synonymous with innovation; innovation not about creation of new products, but of customization of products, sales, support and services, to generate ‘a whole new customer experience’ thus earning indomitable brand loyalty in an increasingly globalized and competitive market. According to me nothing could more succinctly sum up the Dell success story than these words of its chairman Michael Dell: We were not the biggest computer company, we were not the most capitalized computer company, we were not the most famous computer company. So, we had to prove that what...
9 Pages(2250 words)Essay

Wal-Mart A Progressive Success Story

... R. (1996) The 1996 What Colour is Your Parachute? A practical Manual for Job-Hunters and Career-Changers, Ten Speed Press: New York Case Study on Wal-Mart (2009) Furman, J (2005) Wal-Mart: A Progressive Success Story. New York: Wagner Graduate School of Public Service. Hill, C (2009) International Business: Competing in the Global Market Place. London: International Edition, 7th Eds., McGraw-Hill. Irwin, Elena G. and Jill Clark (2006). The Local Costs and Benefits of Wal-Mart; The Ohio State University.... started to make sense. The module has also enhanced my communication and team building as i realised that the success of the firm is augmented by acquiring strategic advantages embodied by skilled human resources and...
5 Pages(1250 words)Essay

Success story: Japanese-American style

...Success story: Japanese-American Style The Japanese Americans managed to thrive in an environment full of adversity to emerge as successful Americans. William Petersen (42) argues that the issei after coming to America were catapulted out of a homeland going through a rapid change while Meiji Japan remains to be one of the countries in Asia credited to have achieved modernization. The model minority strategy constitutes diligence in work together with simple fragility, which almost has the religious imperative. The advantages of the model minority strategy include the respect for authority reinforced in the churches of the Japanese-Americans, and has a meaningful link to the original...
1 Pages(250 words)Book Report/Review

The Story of Wall-Mart Success

...Research Paper: Success Story of Wal-Mart Contents Introduction 3 Reasons behind Wal-Mart behind the best in the retail industry 3 Factors that has made Wal-Mart best in the field 4 Description about the founder of the company 6 Description about where the company started 7 Conclusion 7 Works Cited 9 Introduction The research study is based on one of the most renowned companies in the retail industry that is Wal-Mart. The company is an American multinational retailer that operates through a wide range of discount, warehouse and department stores across the globe. According to the Fortune Global List of 2014 the company is the biggest public corporation across the globe. The company is the most...
7 Pages(1750 words)Research Paper

Success Story of David Robert Joseph Beckham

... Success Story of David Robert Joseph Beckham Most of the famous success stories seem to have their respective head-start from a failure. When it comes to understanding and assessing the success story of David Beckham, one can begin with the hardships he underwent during his initial years as a football player. It has been written by a number of writers who have witnessed or interviewed Beckham that his coach or football teachers remain a reason behind Beckham’s increased effort towards football. It was very difficult for him to get his positions in the football team because a common view was observed in 1990s that players need to have a typical physique i.e. the players have to be tall and have toned muscles etc. Despite... such a...
1 Pages(250 words)Essay

Chicago

...Introduction Chicago Chicago being a metropolitan and among the popular cities in the U.S., it is the third largest state in the country. It has a phenomenon history in business where it inhibits the busiest international airport in the world; in cultural activities it boosts of some inventions in arts and entertainments and above all, in tourism, it holds a record of hosting the highest number of tourists in the world in 2012 (Rich 71).The thesis statement is evaluating the key economic determinants of the success story of Chicago city. Culture Activity Chicago is better known for the invention of various forms of arts in the entertainment industry. In comedy, it started the improvational style of...
4 Pages(1000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Case Study on topic Success Story of Steppenwolf for FREE!

Contact Us