2004 Headlines
Johnson School Leaders Help Revitalize Historic State Theatre of IthacaMarch 9, 2004, Ithaca, New York The Johnson Graduate School of Management at Cornell University today announced that a team of its students has completed a strategic planning project for a local Ithaca landmark designed to help preserve its position as an emerging live performing arts venue in Upstate New York. The group, comprised of MBA '04 candidates Renee Clark, Jason Jones, Annabel Nickels, Justin Stone and Jonathan Vervoort, spent the past twelve months working closely with leaders of the State Theatre of Ithaca (STI) to assess its current operating and marketing situation, and to provide recommendations for near-term improvements. This effort is one of several community service projects conducted by the Roy H. Park Leadership Fellows program to be completed this year. "Historic Ithaca has done an amazing job restoring the venue to attract major artists such as Herbie Hancock, Yo-Yo Ma, and Ani DiFranco," said Renee Clark, a member of the student team. "We are excited to help by evaluating strategies to increase STI's audience and enhance the theatre-going experience." STI is owned by Historic Ithaca, a local non-profit organization that acts to preserve the legacy of the built environment in Tompkins County and the Finger Lakes Region. Originally an automobile showroom in 1915, STI became fully operational as a performing arts venue in1928. Seventy years later, in 1998, Historic Ithaca purchased the theatre when it was threatened with demolition and is currently in the process of restoring the structure. The Theatre, which was listed on the National Register of Historic Places in 1996 as an excellent example of early 20th century "movie palace" architecture, re-opened its doors as live performing arts venue on December 5, 2001. "The Park Fellows were wonderful to work with, " said Scott Whitham, Executive Director of Historic Ithaca and the State Theatre, " They were professional, flexible and smart - a great combination of skills to apply to this project. We have a much better sense of our direction after the participation of these talented students." The team's efforts focused on developing recommendations for programming, advertising, and operations. Over the course of 6 months the students conducted 2 large-scale audience surveys and developed an audience profile for the State Theatre and a segmentation of customers. Each segment was analyzed, and tailored marketing strategies were presented. In addition, more than a dozen interviews with other comparative historic theatres and performing arts venues in the Northeast were conducted. This helped the team evaluate the feasibility of various operating plans. Lastly, the team carefully analyzed the financial plan of the theatre and recommended budget adjustments based on their short-term and long-term goals. The team presented its research findings and recommendations to the Historic Ithaca's Board of Directors in December 2003. The comprehensive set of recommendations includes specific action items in marketing, operations, organizational development, strategic alliances and finances. For Historic Ithaca, the student work has dovetailed perfectly with a project currently being initiated with AMS Research and Marketing of Fairfield, CT., to produce an operations and management plan for the State Theatre. All of the team members are second-year MBA students. Renee Clark is a marketing professional with 6 years of entrepreneurship experience. After the Johnson School, Renee will hold a senior marketing position with Princeton Review-a leading educational media company. Jason Jones spent several years on Wall Street as an equity research analyst with Goldman Sachs. After the Johnson School, Jason intends to join an institutional money management firm. Annabel Nickels holds a Ph. D. in Materials Science and has 7 years of marketing and product management experience in the high technology sector, where she intends to continue after graduation. Justin Stone brings three years of investment banking and two years of entrepreneurship experience. After the Johnson School, Justin will join the Western & Southern Financial group in Cincinnati, OH in the firm's Leadership Development Program (LDP). Jonathan Vervoort, a former Marine, is a sales and marketing professional with significant experience in pharmaceuticals. After graduation, Jon will join Merck, Inc. in a senior marketing capacity. Clark, Jones, Stone and Vervoort are part of the Roy H. Park Leadership Fellows Program, established in 1997. Funded first by the Park Foundation, now by the Triad Foundation, Inc., the program serves to develop leadership potential. The fellowship includes a full-tuition grant, plus stipend that is awarded each year to twenty-five entering students in the two-year MBA program at the Johnson School. The program emphasizes professional achievement and community service. In addition to the MBA curriculum, the program provides Fellows the opportunity to contribute through projects serving companies and non-profits in Tompkins County. The projects are intended to further develop their leadership skills and instill an enduring commitment to socially responsible endeavors. Over the last 6 years, more than fifty organizations have benefited from nearly seventy related projects conducted by the program. Current clients being served this year include Alternatives Federal Credit Union, Challenge Industries, Ithaca Fine Chocolates, Ithaca Youth Bureau, Ithaca Village, Longview Retirement Home, and Science Center. In addition, one team of Park Fellows is launching Home Regenerations, a non-profit to support home renovations for low-income families. According to Clint Sidle, the Director of the Roy H. Park Leadership Fellows Program at the Johnson School, "Service projects tend to be among the most rewarding aspects of the Park program for the fellows. The projects provide them with opportunity to pull together and apply many of the technical and leadership skills they have learned. For many, it is what they will remember most about the program." The State Theatre of Ithaca has welcomed well-known artists such as Dave Sedaris, Arlo Guthrie, Joan Baez, Ralph Stanley, and Gillian Welch. Upcoming features include the Shanghai Circus on March 18, Yo-Yo Ma and the Amsterdam Baroque Orchestra on April 28, Jonatha Brooke on April 22, and David Byrne on May 15. This summer, Historic Ithaca plans to renovate the box office area to expedite the flow of patrons in and out of the theatre, and increase wheelchair access. More information can be found on the State Theatre website at http://www.statetheatreofithaca.com. The Johnson Graduate School of Management prides itself on teaching "real time, real world" business skills, and is among the top business schools in the world. The school distinguishes itself with a wide variety experiential learning opportunities, such as immersion curricula and student-run venture capital and mutual funds. Programs include MBA and doctoral degrees, a twelve-month MBA option for students with advanced degrees in science or engineering, an executive MBA and a variety of customized executive education programs. For More Information
Scott Whitham |
