MEMORANDUM
The
article I chose to write my second memo on is entitled Is
Miramax Losing Its Magic Touch?. Thane
Peterson is the author of this column written on February 13, 2001.
This Business Week article can be found online at www.businessweek.com
.
Miramax films was founded by Harvey and Bob Weinstein. These two brothers built a strong film company that was rewarded heavily with Oscar and Golden Globe nominations and awards, in the middle to late 1990's for films such as The English Patient, Life is Beautiful, Shakespeare in Love, American Beauty, Good Will Hunting and many more. The Weinstein's dream, when they created Miramax films, was to make quality films, even if the crowd or money wasn't there. In the 1990's, they definitly succeeded and surpassed their expectations. It was when the Weinstein brothers sold
their company that the Miramax quality of product began to decline. Even
though Miramax has continued to put out a steady number of movies since
there box office hits in the ninties, the verdict is not the same. The
author of this article, Thane Peterson, feels that the quality of films
that the new owners of Miramax are putting out are "pale creations" compared
to the films of the past. Such films that he gives examples of are Chocolat,
All the Pretty
Horses, and Malena.
Peterson criticizes these films extensively. He then goes on to include
movies in the same catagory that he feels are better.
Constructing A New Management Plan Something has to change in order for Miramax Films to regain there competitive edge and successful outcomes. Owners and management need to step up to the plate and make the decisions that will ensure success. They need to make better decisions, not accepting scripts unless they are quality. They also need to make sure that each film that they turn out is done is Oscar or Golden Globe material. A way to go about securing a positive outcome is to produce better managers. Miramax Films should use the Leader Behavior Chart to hire better managers. Miramax would want to hire people with high relationship behavior and high task behavior. These types of managers explain decisions and provide opportunity for clarification which is key in getting things produced and accomplished. When Miramax interviews for perspective employees they can always take the perspective employees personality traits and see how they fit into the Leader Behavior Chart. If the employee fits into the catagory that they are looking for then they should hire them. The Leader Behavior Chart is a very helpful tool when putting a management team together and producing a winning product. This will hopefully pull them out of the slump that they are currently in and put them back up at the top, producing award winning films. Leader Behavior
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