The Museum of Modern Art: Business Model Examination Report
The Museum of Modern Art
The Museum of Modern Art is a non-profit organization engaged in the business of acquisition and exhibition of modern art in various forms for children, adults, and other organizations. The museum was established in 1929 and is located in New York (Museum of Modern Art, 2016). Currently the museum contains, “almost 200,000 works from around the world spanning the last 150 years”, and it “includes an ever-expanding range of visual expression, including painting, sculpture, printmaking, drawing, photography, architecture, design, film, and media and performance art” (Museum of Modern Art, 2016). They rely heavily on donations and memberships, and the revenue …show more content…
According to Roberts and Zahay, a merchant business model is a business model where the organization is engaged with “providing goods and services” (p. 64, 2013). Looking at the revenue of the company provides insight and support for why this is the business model employed. The majority of the revenue stream or 61 percent, comes from auxiliary activities (retail operations), admissions, and memberships. This means that providing goods and services is the main source of revenue generation for the museum; consequently, it contributes strong support for the categorization of the Museum of Modern Art as organization that employs the merchant business model. Further support comes from the mission of the museum, which states that, “MoMA is committed to helping everyone understand, enjoy, and use our collection” (Museum of Modern Art, 2016). This gives credence to the idea that the museum focused heavily on providing a service for consumers. Providing services is again an element of the merchant business model. Overall it is evident from The Museum of Modern Art’s revenue stream and the mission of the organization that they are employing a merchant business model by providing services and goods to the …show more content…
The first suggestion would be to develop partnerships with local businesses who generate income based on ideas. They could provide creative inspiration services to employee or teams that work for these business. This could include activities at the business or onsite at the museum. Further they could develop art activities that help develop team cooperation and provide team building opportunities. The second way the museum could generate income is by hosting events and parties at the museum. Wedding venues are typically hard to book in New York and they could earn significant revenue through holding events onsite or by providing wedding decorating services by lending pieces of art for different occasions. Finally a big appeal of artwork is the history and story of the pieces. This could provide an opportunity to create film projects which could generate additional money for the
The Museum of Modern Art
The Museum of Modern Art is a non-profit organization engaged in the business of acquisition and exhibition of modern art in various forms for children, adults, and other organizations. The museum was established in 1929 and is located in New York (Museum of Modern Art, 2016). Currently the museum contains, “almost 200,000 works from around the world spanning the last 150 years”, and it “includes an ever-expanding range of visual expression, including painting, sculpture, printmaking, drawing, photography, architecture, design, film, and media and performance art” (Museum of Modern Art, 2016). They rely heavily on donations and memberships, and the revenue …show more content…
According to Roberts and Zahay, a merchant business model is a business model where the organization is engaged with “providing goods and services” (p. 64, 2013). Looking at the revenue of the company provides insight and support for why this is the business model employed. The majority of the revenue stream or 61 percent, comes from auxiliary activities (retail operations), admissions, and memberships. This means that providing goods and services is the main source of revenue generation for the museum; consequently, it contributes strong support for the categorization of the Museum of Modern Art as organization that employs the merchant business model. Further support comes from the mission of the museum, which states that, “MoMA is committed to helping everyone understand, enjoy, and use our collection” (Museum of Modern Art, 2016). This gives credence to the idea that the museum focused heavily on providing a service for consumers. Providing services is again an element of the merchant business model. Overall it is evident from The Museum of Modern Art’s revenue stream and the mission of the organization that they are employing a merchant business model by providing services and goods to the …show more content…
The first suggestion would be to develop partnerships with local businesses who generate income based on ideas. They could provide creative inspiration services to employee or teams that work for these business. This could include activities at the business or onsite at the museum. Further they could develop art activities that help develop team cooperation and provide team building opportunities. The second way the museum could generate income is by hosting events and parties at the museum. Wedding venues are typically hard to book in New York and they could earn significant revenue through holding events onsite or by providing wedding decorating services by lending pieces of art for different occasions. Finally a big appeal of artwork is the history and story of the pieces. This could provide an opportunity to create film projects which could generate additional money for the