Business Model Innovation and the First Steps of Digitalization in the Case of Symphony Orchestras

Szedmák, Borbála (2021) Business Model Innovation and the First Steps of Digitalization in the Case of Symphony Orchestras. In: New Horizons in Business and Management Studies. Conference Proceedings. Corvinus University of Budapest, Budapest, pp. 160-171. . ISBN 978-963-503-867-1 DOI 10.14267/978-963-503-867-1_15

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The study highlights the importance of orchestras being able to respond to the changing needs of consumers and adapt to changes in the world. Such a change is, for example, the current coronavirus epidemic, which poses especially great difficulties for organizations of the cultural sector that deal with performing arts, as concerts and performances – providing the basis of their operation – have become impossible. In order to gain “immunity” to the virus, business model innovation and exploiting opportunities offered by digitalization are essential. Furthermore, similar cases can occur at any time for which orchestras have to be prepared. As a result, orchestras (and in a broader sense all kinds of organizations) need to fundamentally rethink their business models. After conducting secondary research and interviews with 10 symphony orchestra managers and 10 symphony orchestra musicians, I have identified some novel aspirations, attempts and projects selected from international and Hungarian symphonic orchestral life to provide excellent examples of how the business model can be redefined and how the expectations of the 21st-century audience can be met. These examples show that there are orchestras which have understood that responding to the changing demands of consumers and utilizing the opportunities given by technology is essential, although it is still a question of how many more “coronavirus waves” are needed to make it clear for all orchestras that fundamental changes are necessary to preserve a market-leading position or become a market leader.

Item Type:Book Section
Uncontrolled Keywords:business model, symphony orchestra, digitalization
Subjects:Knowledge economy, innovation
Culture, sport
Projects:EFOP-3.6.3-VEKOP-16-2017-00007 - From Talent to Young Researcher project aimed at activities supporting the research career model in higher education
ID Code:6448
Deposited By: Ádám Hoffmann
Deposited On:23 Apr 2021 16:07
Last Modified:23 Apr 2021 16:07

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