WIDER Insight

The Art of Reinvention Premium

On the occasion of the 80th anniversary of Pablo Picasso's "Guernica," we analyze how Madrid's Reina Sofia Museum keeps innovating. Are there tips for businesses to refresh their own works?

IESE Insight

Date: Third Quarter 2017

Tags: Reina Sofia Museum, Pablo Picasso, "Guernica," Madrid, Michaux Miranda

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By all accounts, the 80th anniversary exhibition of Pablo Picasso's "Guernica" has been a success, with thousands visiting daily and lines stretching round the block. What makes people want to line up to see an 80-year-old painting that in all likelihood they have seen before, if not in a museum, then in a coffee table book or online? To answer this, we look at what the Reina Sofia does to keep its offerings fresh, modern and interesting. After all, a museum shares many things in common with a business: finding creative solutions to financial challenges, seeking new forms of collaboration, and continually pursuing innovation.

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