Good morning everyone; today, we have discussed different solutions to the constraints to the Melchester arena. But before we begin with our presentation, I would like to discuss the Project and its inception. Melchester is a major city in the U.K. with a total local population of 3 million people. The city is the 2nd most economically viable city in the U.K. after London and the third most visited city in the entire of England. The local government and the city’s politicians have decided to undertake a major project that marks the 150th anniversary along with the 2000th anniversary as a major population centre. Hence they have decided to build Melchester arena. This arena would have a capacity of 20,000 people with multi-purpose Exhibition space. This arena has been selected as the major Project because this clearly highlights the true essence of the city. This would create a huge amount of job opportunities for the local people for now and in the future. As per the previous plan, the organization had decided to inaugurate the Melchester arena on June 1 2025. the local government has awarded a budget of £750 million. The project architecture has been well acclaimed and appraised by people all across the world and has one various prestigious awards throughout the time. Now I hope my audience is better clarified about all the basic details of Melchester arena and Melchester city. However, his enormous Project has been exposed to some unforeseen problems that are creating obstacles for the organization’s growth and development’s Successful Completion and inauguration. Hence, this presentation will discuss all the problems that the Melchester arena is facing for successful inauguration on the scheduled time and discuss various solutions that could help in mitigating the problem.
I guess now most of you have got a clear background about what Melchester arena is and why it is important for this city. Now, let’s discuss big problems and constraints errors obstructing this mega Project’s successful completion on time. The first major problem that is obstructing the successful Completion of the Project is the lack of budget. As I have already mentioned, we were previously allotted an amount of £750 million. But now, after some new incorporation and adjustment have been made, a new arena design has been proposed with an open roof and increasing the sitting arrangement by 20%, which in the figure refers to 24,000. This has incurred additional extra expenses of £50 million. We noted that the material cost for the newer adjustment is not very high, but due to the increase in excess capacity, the extra cost has been incurred.
This area’s next problem is keeping up with the schedule with the new adjustment. Installing and incorporating the new designs and increased capacity of the arena would require an additional six months to be completed, which means that this scheduled date of inauguration could be postponed to December 1 2025. This may reduce the value of the arena and would miss the important event of the 2000th anniversary of the city. Hence there’s a lot of confusion and consideration regarding the dates and the budget among the officials.
Now, if we talk about the current situation of the construction of the Melchester arena, despite the extra additional work is concerned and other unforeseen problems, this rounding infrastructure of the arena is on schedule and is ready for opening on June 1 2025, which is also the important celebration date 4200 anniversary as a major population state centre. Moreover, since the actual design was agreed upon through the passage of time, new efficient yet attractive construction materials have been invented which could be used to redesign the roof of the arena at a much shorter period of time in about four months of the year which makes the arena ready to be inaugurated during the month of may June July or August. Moreover, these materials have proven to be very attractive.
I hope I have been very clear up till now about the background of the Melchester arena, the major problems that the city officials are facing, and how it has impacted the project and its successful completion. Now it is time for me to proceed to the main part of this discussion: the analysis and solutions of the problems.
Before considering all the options and probable solutions, I would like to discuss a thorough SWOT analysis of the Project being constructed as we all know that SWOT analysis is one of the most common forms of an analytical tool that various business management experts use to identify the potential strengths and opportunities as well as the weakness and threats of any new business idea or existing ones (YUENYONG and WONGS?LA 2019).
Show let us begin with the discussion of all the strengths they’ve been identified from this Project and the available information that we have.
So the first trend that has been identified for this Project is that this has a great cultural value and importance attached to this Project which makes this Project one of the most important and most vital tourist attractions spots in the entire city (Batool and Siddiqui 2020).
My team and I have identified the second strength that almost every stakeholder contributes to building the Melchester arena (Berestova et al 2021). All stakeholders contribute to the structure, from the local government to the central government.
The 3rd most important strength that has been identified for this structure is the economic viability of the city (Cahin and Bacak 2021). The city’s economic viability makes this structure even more profitable and efficient than any other business structure all over the U.K.
After we have considered the strengths, it’s time to discuss the weaknesses
The first weakness that has been identified for this structure is the who is the participation of the local businesses (Pathak et al 2021). Even though these business organizations have a huge opportunity to expand themselves, they only hold a 5 per cent stake in the business.
The next problem that I have identified is the volatility of the Project and the plan. As new inventions and materials good keep coming up in this fast-growing and ever-changing world, focusing on the new and better materials regularly would require altering the plans frequently, which would negatively impact the progress of this structure (Pathak et al2021).
Any other known weaknesses yet to be found now speaking about the opportunities that this arena presents towards the city are as follows
The first opportunity this arena presents to the city is opening new tourist attraction spots and job opportunities for individuals. By recommending and approving the change designs of this structure, it would become the largest arena in the entire U.K., making this an important tourist spot of this city and the entire U.K (Peres 2020).
This has the potential to become the geological landmark as well as the cultural landmark of the city, which would further enhance the business capability of the arena
The changing roof structure and other viable methods dad would be redesigned. Andrey incorporated within this structure would create a lot of potential for the Melchester arena.
One of the major threats is not doing anything about the upcoming opportunities presented by the redesigned structure of the arena. They are very likely the chances were the office may ignore the changes and redesign proposals because hit me not only delayed the inauguration date but also would require additional cost.
Missing the scheduled deadline may also create a negative impact under a negative image of the organization and this monument. This may lead to a negative promotion, reducing the craze about the structure (Miller and Poston 2020).
Let us look at the first major point of discussion problem here
As you could see initially, it was decided that an open roof arena would be constructed; however, as the materials and other equipment developed further, the invention of low rate and high-quality materials that could be used to create strong and attractive roofs led to certain next certain fundamental changes within the structure of the arena. That has also led to an increase in the capacity of the arena by 20%, as we know that the government has not completely funded the initial budget of £750 million. The U.K has granted 50% of the total budget. National Lottery and 45% of the rest of the budget have been raised by the U.K. government and the local government, and the local businesses contributed the remaining 5% (Klein and Crandalli 2018). But as the additional changes have been made, an additional 50 million pounds would be required to complete the Project.
As you can see, the team has gone through several options, such as increasing the stakes of the local businesses on the arena to get the additional £50 million funding. However, this means that the stake of the local businesses would increase from 5% two 7.5% over the arena. This could be a very lucrative deal as the organizations holding a stake would also get a chance to expand and grow (Klein and Crandall 2018).
Another option that the team had followed up with is to increase the local government’s contribution and intelligence of the local authorities. It could also be utilized to get a grant of £50 million for the Successful Completion of the Project. However, this would be a very difficult job as the government might face much resistance from others’ opposition (Chan et al. 2019). Yet if the government is convinced about the high value that it would generate body region, this could be one of the most efficient plans.
We have also considered the idea of crowdfunding the extra £50 million, which would create a cultural impact and connection to the arena. This would enhance the strong cultural bonding of the local population with the monument and create and be the geological landmark of the city (Rahmanl 2019).
The final consideration that the team has made is to explore the area where the team had suggested not to do any changes with the original plan and to move forward with the initial blueprints irrespective of the fact that it may increase the capacity of the arena and make it be largest exhibition centre of the entire U.K.
From the lists mentioned above of probable solutions, my team and I have conducted a thorough Pugh’s matrix analysis. The criterion that my team and I have selected to identify the feasibility of the ideas is the future opportunity, value creation, and effectiveness (Pekdogan and Akgul 2021). My team and I have found that enticing the local business to contribute a little more with a stake of 7.5 per cent will have the most positive outcomes out of all the probable solutions. Increasing the stake of the local businesses in the arena increases the opportunity for the local business to expand and markets themselves even more efficiently and have a greater say in the development and maintenance of the arena. At the same time, this would also increase the business making capacity of the place. The city is one of the most economically important cities in the U.K. could provide the local business with an extreme opportunity through the ownership of this arena. As soon as the other pollution is concerned, doing nothing would provide no benefit at all at the same time. It would also jeopardize the true essence of the Project. At the same time, the investment done by the government would make it more public property and would provide a lesser economic benefit compared to providing ownership to the various local businesses (Cho and Kim 2021). Crowdsourcing the entire fund is also a very plausible idea. Yet, the idea’s efficiency and effectiveness are very doubtful as there are high chances that the required amount may not be collected through complete crowdsourcing. A significant amount may be left out, and I create a lot of problems.
The second problem is what should be the actual inauguration date if all the works continue at the normal face that is going on. First, discuss 2 options available to us in terms of inaugurating the Project. The first option is June 1 2025, and the second option is December 1 2025. In order to open the Project successfully on the scheduled time was June 2025, the organization could overlook the proposed changes and move forward with the scheduled project, which would not only help entire City to complete the task within the deadline but also would help the Project to be inaugurated on this special occasion attaching a significant sense of value among the citizens of the city (González Baba and Shimadai 2018). Hence ignoring the Project could be one of the most efficient options.
But as you can see, it would harm the city in more ways than to do good. Through the detailed study, our team has found that by avoiding those new changes and material usage, the Melchester arena would be losing carries future potential users, which would reduce the region’s business potential. On the other hand, delaying the scheduled style of inauguration by 6 months would create a certain amount of cultural issue within the city as well as reduce the essence of the Project. This would not only put a negative emphasis on the region’s business potential as people may still connect this infrastructure with the main essence of the region (Pereira and Santos2020).
Considering the facts that we know the external structure of the arena, it’s completely on schedule, and it would be ready by rescheduling time and by making the new adjustment the organization could attract more users towards the arena at the same time make it the largest arena in the entire United Kingdom. Considering all the options that we have in hand, my team has decided on a 2 – level inauguration plan.
According to my teammates and I and my teammates’ plan, we would initially announce the inauguration and the opening of the arena on June 1 2025. But instead of physically inaugurating the structure, a similar structure would be inaugurated on the virtual plane. This means me and my team are suggesting the use of Metaverse as the platform for inaugurating the proposed structure (Zahmati 2020). All the participants and the interested people would be given a virtual tour of this structure both from the inside and the outside. At the same time, people would also be allowed to visit the surrounding of the structure on the day of the 2000 anniversary of the city. This would ensure that the organization is able to connect the important values of the structure with the people (Minda 2020). Moreover, this would also expand the horizon of the Melchester arena. Being present on both the planes as a physical structure and as a virtual would allow the spot to become one of the most popular tourist spots of all time.
After this virtual inauguration tour of the structures is done on the parallel physical structure would also be continued till December 1 2025. On this date, the organization would be declared open for physical visiting and virtual visiting. The second inauguration would be done as the continued version of the first June inauguration (Rahman 2019). It would be explained in the form that the officials’ virtual tour was the concept they were trying to bring to the actual world. This would also make this great structure one of the revolutionary structures be existing on 4th be planes at the same time, which would further increase the value of the structures and enhance the ability to attract customers.
Let’s discuss the thinking patterns and styles that my team and I have followed in formulating these results and identifying the probable solutions for the problem.
My team members and I have utilized divergent and convergent thinking methods, down and shortlist the number of probable options later viable and would provide suitable results problems at hand (Minda 2020). First, my team and I started looking up the problem and then we identified all the available options that we have through the process of divergent thinking. Then all the team members participated in a brainstorming process with regular meetings where each team member expressed their views, opinions, and ideas and shared their options (Peres 2020). The others also listened to the views and opinions regarding those ideas. After this has been turned, all of us participated in the convergent thinking process where all the mixed diversified information in solutions was analysed to the way minute detail to reach the common conclusion with a common solution (Zahmati 2020). This stage required us to thoroughly scrutinize and rectify various ideas as well as reject a lot of them before idly identifying all the discussed solutions (Mohanty 2021).
This is all about the proposed idea, and we propose solutions to a pre-existing problem as you could see that there are various feasible solutions which are available to us at even a lot of different innovative solutions also been suggested teammates during the meeting sessions which could not make up to this presentation due to some of the other flaws in them.
Finally, to conclude the entire summary of this paper, I would say that my teammates and I in extensive research to identify each aspect of the different problems and find feasible solutions to those problems. That is to provide an extra stake of 2.5 % to the local businesses to raise an extra £50 million and conduct the inauguration ceremony on the scheduled date of June 1, 2025, on the virtual platform and the physical inauguration on December 1 2025. I hope all of the reasons and justifications to the solution have also been very clear to you, and there has been no problem in understanding our choices and decisions in order to mitigate with problems. so we have reached the last part of the presentation now I would like the board members to discuss and talk about all the questions they might have regarding this topic
Thank you
Have a nice day
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