The Cultural Center of the Philippines (CCP): Is it committed, controllable, and profitable?

• Main Authors: Aquiler, Dara Ledda P., Ramirez, Ma. Beatriz M.
• Format: text
• Language: English
• Published: Animo Repository 2006
• Subjects: Cultural Center of the Philippines > Finance; Accounting
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/6859
• Institution: De La Salle University

A. Objectives. This study has the major objective of proposing a corporate strategy suitable to the current financial condition of CCP that could alleviate their operating losses. This could be done through the identification of its internal strengths and weaknesses, industrial opportunities and treats, and the evaluation of CCP in terms of its commitment to the mandate, internal controllability and financial profitability. B. Brief Methodology. This study used both primary and secondary sources of information. Interviews with CCP personnel were conducted as the source of primary information. Secondary information were attained through compilation of articles and other written and printed materials and obtaining necessary documents from the Internet, book collections, and appropriate government agencies and private entities. C. Major Findings. The Center is a service institution which is seen as committed and controllable, but not as profitable. The factors which the researchers considered that answer the question of commitment are the implementation of its mandate and the organizational culture of the company. The measurement of controllability lies on the operations of some functional areas of the CCP. Their policies and procedures shows how are they effective in fulfilling their work as a support for the undertaking of the center. To answer the question of profitability, the gauges are the results of the financial ratio analysis, the FSD and the Marketing department. As shown in our ratio analysis, CCP have been performing poorly of generating income. Nevertheles, they can still survive as an entity that is fulfilling their mission. The TOWS analysis was used to determine the external environment. The threats are as follows: increase in popularity of large-scale theaters, increase in popularity of substitutes, continuous decline in Filipinos' financial capacity, and inadequate support from the National Government. The weaknesses that the Center has to look out for are: public perception, saturated market, and high maintenance expenses. On the other hand, the opportunities that CCP has to take advantage of are: growth of the local music industry, growth in production of digital films, and emergence of small-scale productions. Furthermore, CCP has strengths such as wide market, the only cultural promotion center in the country with international recognition, continuous strive for excellence in shows, massive land area, diversity in services, and accessibility to people. D. Recommended Strategy. The researchers recommend the Market Development Strategy as this would help in increasing the market and also alleviating the losses of the Center. A change in the intensity of advertisement and promotion can be implemented to reach out to more market, and additional distribution channels can also help the Center to target more audience and create awareness of the other services provided by them.