Reference no: EM131267958

Discuss several solutions that this firm faces. Discuss the pros and cons of these solutions and defend your answer. (1page minimum)

The ICA seems to be having trouble attracting and sustaining visitors. A lack of customers definitely has a huge impact on the amount of revenue that comes in. The institute operates on a very small budget that is barely enough to maintain the building, let alone allow for improvements. They just didn’t have the finances to make the changes needed in order to attract more artists and attendees. They could not even establish a permanent exhibit which was huge in the museum world.

One of the reasons that the ICA has struggled is the lack of enthusiasm for contemporary art in the city, as well as the community. There wasn’t a vibrant art scene surrounding the museum-art schools, collectors, galleries, artists creating and sharing ideas-all the things that make up an artistic community (MIT Sloan 2016). When there is a lack of enthusiasm for something, you can expect a lack of support. Consequently, no one was investing in art in Boston. No one was pushing to change the dynamics of the area, either.

The ICA is known as an elite and private institution. After all, it was formed by Harvard undergraduates. The current image left the public feeling excluded. Who would want to visit a place that they didn’t believe they belonged in? They struggled to appeal to the broader public. They needed to expand their reach to everyone in the community.

Lastly, the space was an issue. The complicated floor plan caused a problem for huge exhibits and large amounts of visitors alike. Also the building itself just didn’t scream art. It was sure far from contemporary. A converted police station and stable wasn’t going to draw huge crowds. Location is the key and this one wasn’t working. In conclusion, the ICA needs to create a new image for itself, establish a new location, and build community interest and enthusiasm for contemporary art in Boston.