Introduction
Victoria and Albert Museum (V&A Museum) is a Non-Departmental Public Body managed by the Department of Culture, Media, and Sport. The museum is funded by the central government and also receives Grant and Aids (a major portion of funding) from the Government of the United Kingdom. A significant part of the funding (approximately 60%) is received from the Department for Culture, Media, and Sport. The museum is the world’s biggest and leading museum containing a wide collection of art and design of more than 4.5 million objects. The objects present in the museum have a history of more than 5,000 years. The UK’s national collections and houses, architectures, paintings, sculptures, textiles, furniture, glass, fashion, photography, jewelry, book arts, ceramics, Asian art and designs, and theatre and performances are presented (Victoria and Albert Museum, 2016). The Board of Trustees are appointed by the Prime Minister and act as the governance body of the museum. The current director is named Martin Roth and he leads the Senior Management Team.
The current paper aims to define the importance of strategic positioning for business to gain competitive advantage and also to describe the strengths, weaknesses, opportunities, and threats to V&A Museum.
Mission and Strategic Objectives for Victoria and Albert Museum
The mission of V&A Museum is to become a leading Museum for arts and design. The management also believes that they have the opportunity to enrich the lives of people and can inspire individuals and people of every industry to gain knowledge and understanding of arts and design and also to offer them the enjoyment of the designed world. The core strategic objectives of the museum includes providing best quality experiences to the audience and also to allow them access to more and more collections with the use of physical and digital tools. The museum also aims to promote, contribute, and develop the UK creative economy and leads the field with the help of inspiration to designers and makers, stimulate enjoyment and to appreciate designs, arts, and performance. The final strategic objective of Victoria and Albert Museum is to operate with effective and efficient financial and organizational initiative (Victoria and Albert Museum, 2016).
SWOT Analysis
SWOT provides a useful tool or technique to understand the internal Strengths and Weaknesses for business and is equally important to identify both Opportunities available for a short or long run and also the threats faced by the firm. The current SWOT of V&A Museum allows the readers to examine the main advantages and flaws of the strategic objectives and plans and also highlights the opportunities available and threats the Museum faces (Blue Sail, 2010).
List of References
Blue Sail, 2010. Potential Collaboration between Portobello Road Antiques Market and the V&A, Hereford: Blue Sail.
Victoria and Albert Museum, 2016. V&A Mission and Objectives - Victoria and Albert Museum. [Online] Available at: http://www.vam.ac.uk/content/articles/v/v-and-a-mission-and-objectives/ [Accessed on 17 July 2016].
