An Investigation of the impact of change on Sotheby's Research Paper

An Investigation of the impact of change on Sothebys - Research Paper Example5 Changes in Auctioneering Process.. 6 Impact of Technological Changes to Sothebys fraternity 7 Impact of Technological Changes on Buyers and Sellers 8 Financial Policy Changes. 8 terminus 9 Recommendations... 10 Bibliography.... 12 Impacts of Changes to Sothebys Company Introduction and Background Sothebys is a multinational corporation that has its origin in Britain, but is soon headquartered in New York. It is one of the worlds largest brokers of decorative and fine arts real estate, jewelry, and collectibles (Innovation, Theories of Art, and Sothebys Company 2011, 63). The company divides its operations into three segments. These take on finance, Dealer and auction. Among other products and services, the company deals in a range of services including Private Sales to Corporate Art Services. Traditional operations of Sothebys Company make it the fourth oldest auctioneering company in continuous opera tion in over 40 countries and with 90 locations worldwide (Gus 2012, 44). By December 2011, the company boasted of 1446 employees worldwide. Sothebys is arguably the worlds largest art enterprise with global sales that totaled up to $5.8 billion in 2011 (Gus 2012, 44). Relative success of the company pot be attributed to its efficient mode of operation that it established right from its inception in 1744 in London. The company has maintained a culture of management that looked at the business in three distinct dimensions. The company viewed and treated the business as having the categories of finance, auctions and finance. Sothebys is a master at managing timing during biding struggles among wealthy buyers. This is a unique piece of art the company has learnt to perfect and preserve over the years. Auctioneering capabilities of the company has made it become a marketing timer as well. In November 2013, the companys shares were trading just below the highest level hit in two years. The company announced reviewing its finances and capital allocations in a bid to determine the best options it has of returning capital to shareholders. Terms of reference This report focuses on intricate analysis of the procedures the company uses to acquire and sell the products it involves in. Additionally, the look places emphases on financial changes that the company has developed and how it is expected to change the future of the company. Other than considering the changes that have taken place from the earliest years of the company, the research puts into compute dynamics in the design of the business to the latest plans the company has. It is aimed at providing academic reference to academicians and general audiences who have the interest in knowing the suppuration of Sothebys as it embraces changes over the decades of its existence. It was compiled and presented on 15, November 2013. Procedure In order to determine the effects of change on the operations of Sothebys Comp any, the research took an analytic assessment of publications concerning the