Entrepreneurship

5 mum Mia Case Questions1 . Can the per yearing inventions be considered an painsAns . The modal value execute subterfuges is working these old age it wouldn t be out or keeping(p) to state that it is becoming an industry slow and gradu totallyy in the United States of the States . Although the perform cunnings may qualify to be called as an industry precisely an industry that is in its initial defends . A bit of read to argue in the affirmative would be inclusion in the US Census Bureau s economic Census (2002 is the latest year avail up to(p) . It is considered to be much(prenominal) an enriched profession because it is a source of entertainment for the viewers and provides clears that has manipulate it into an industry such as it enriches the quality of life for residents and employees , deplumate visitors w ho spend their property on direct , indirect and associate cultural humanistic discipline typesetters expressions and activities , spend m unityy on topical anesthetic harvest-tides , service , and employees set sour creative thinking in local youth (Stone , 2001In states of America like Sonoma , where performing arts be spread widely and happens on a broad scale and thitherfore ends up contributing a whole dish up to the overall sparing . It is estimated as per the year 2001 that the estimated direct white plague , indirect spending and related audience spending in which happens to be a huge amount in this industry . Apart form this in that location are legion(predicate) job opportunities created as come up and as per the visual sense approximately slightly more than 9 ,000 wide , part- prison term and independent contractor jobs were created delinquent to the rase upt in which This get wind does non include other members of the arts community , such as gallery owners , movie theatres , and th! eir employees (Stone , 2001 . unconstipated Mama Mia ended up brining a large union of 6 .5 million dollars through with(predicate) 2003 contributing to the economyHence , all in all this is a well-fixed and upcoming industry which shows to claim a lot of capability and the figures estimated via survey give a very colorful prototype to its future as it has a great promise for manipulation of individuals and economic contribution to the country s or state2 . From an enterprisership perspective , shine up the issues that must be considered when dealing with creations in the performing arts that begin cultural or determinate antecedentsAns . As an enterpriser the issues that may disturb the owner would be related to the net income or the ethics or overall profitable burden on the community . As in the plate of a performing art possessing cultural or classical root may have effect on the individuality of the entrepreneur as the humor would non be self-generated b ut sort of a produce . An entrepreneur evaluated different alternatives while besides the one having effectiveness is further finalized . Ideas showing the most potential are consequently moved through the concept leg , the product exploitation stage , the test marketing stage , and finally into commercialization . The entrepreneur should constantly evaluate the conceit throughout this mental performance in to be able to achievementfully launch the meditation (Hisrich Peters Shepherd , 2007 . then , the archetypal potential issue that the entrepreneur efficacy face is regarding the newness of the ideaAlong with that , if the show or any art happens to be a succeeder than the recognise wouldn t entirely go to the entrepreneur himself but rather the one who originally incepted the idea . As even in the case it mentions that after the success of the show Mama Mia the entrepreneur questions as to whether it was ABBA (to whom the original idea belonged to ) or her who deserved the tribute for the success . Hence , it is! a matter of dispute and consequently should be considered by the entrepreneur before indulging into a performing art that has cultural or classical rootsAn entrepreneur is set as the process of creating something new with value by devoting the requirement time and lawsuit assuming the accompanying financial , psychological , and social risks and receiving the consecutive rewards of monetary and personal satisfaction and liberty (Hisrich , Peters Shepherd , 2007 . on that pointfore , the enactment of a pre-conceived idea by someone else does non just mesh with the literal definition of an entrepreneur3 . Are there special conditions or conflicts of interest , which confine in the quasi-public area of the performing arts to melodyes such as Mamma MiaAns . There are several conflicts of interests between a quasi-public sector of performing arts and a incessant line of credit memorial tablet as a quasi-public sector is okay by the government and therefore there are s ealed areas where they a slightly wider margin than the even business . The first conflict arises in the fact that in quasi-public organizations is that the embody of proviso of goods is not proportional to the number of plurality who benefit from it , as is the rule in the unshakable business .

The more the cost is involved , the more is put in the product and therefore more population get to benefit out of it . but , the case is not similar in case of a government backed organization as they have a mandated activities to be performed by a cross number of populate which they can afford as they are backed by the governmentOn the oth er hand , in regular business people who do not pay f! or the product are excluded from the preparation of the good or service which is not the case in government base products or service as they have mandated activities and audience . Hence , the quasi-public organization or activities have a slight edge over the regular business activities due to the trade of government in case of any shocks . handsome losses are easily vulcanised by the services as opposed to the regular business functions that have to make sure that they do not even suffer a slight loss as it might end up taking them a lot of time to recover itHowever the saddle horse depends on the level of public the organization is as not every quasi-public organization has the same backing by the government4 . What do you think of the Mamma Mia ! Show ? Is it entrepreneurshipAns . Mama Mia is slightly off the definition of what an entrepreneurial venture is literally meant to be . It is not a newly conceived idea by the entrepreneur and is based on a performing art that has cultural and classical roots . Therefore it does not literally fall exactly according to the definition of an entrepreneurial drill but even then it is an entrepreneurial activityAs the enactment of the art is done all over again with the individuality of the entrepreneur and the entrepreneur is refashion the show rather then beneficial copying it makes it in advance(p) in its own sense accordingly qualifying it as an entrepreneurial activity . This is because that the entrepreneur has a strong thirst to see the opportunity brought to fruition . In the process of evaluating an opportunity , the required resources should be clearly defined and obtained at the terminal possible cost (Hisrich , Peters Shepherd , 2007BibliographyStone , B (2001 . THE ARTS AS AN INDUSTRY : A Report on the Economic jar of theNon-Profit Arts Organizations in Sonoma County . Retrieved on tenth Feb from hypertext transfer protocol /sonomacountymuseum .org /pdf /2000ArtsReport .pdf Hisrich , R . D , Peters , M .P Shepherd , D . A (2007 . Seventh Ed! ition . Retrieved on 10th Feb from http /highered .mcgraw-hill .com /sites /student_view0 /index .htm l p...If you want to get a full essay, order it on our website: BestEssayCheap.com

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