Although the criteria for determining success as a cultural institution at the beginning of the twenty-first century are still evolving, there are a few universals that are emerging. Successful cultural organizations serve the specific needs of audiences while maximizing the flexibility and ingenuity of their relationships, both inside and outside the organization, all within the context of the economic, social and political realities in which they exist. Success should not be limited to a single set of outcomes, but requires excellence in three basic areas: (1) Support of the Public Good, which includes accomplishing one's cultural/aesthetic mission, but also being a good community citizen; (2) Organizational Investment, including building and nurturing staff; supporting a climate and culture for creativity, innovation, collaboration and research and development; and (3) Financial Stability, including building organizational value and, when possible, generating annual financial surpluses that can be used to further support institutional learning and the public good. The authors propose a model for defining and measuring institutional success using metrics of value and cost across each of these three areas.
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Falk et al. (2008) studied this question.
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