Entrepreneurship

5 mum Mia Case Questions1 . Can the per yearing inventions be considered an industryAns . The way execute subterfuges is working these old age it wouldn t be inappropriate to state that it is becoming an industry slow and gradually in the United States of the States . Although the performing cunnings may qualify to be called as an industry precisely an industry that is in its initial stages . 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 available . It is considered to be such an enriched profession because it is a source of entertainment for the viewers and provides clears that has made it into an industry such as it enriches the quality of life for residents and employees , attract visitors who spend their property on direct , indirect and related cultural arts typesetters expressions and activities , spend money on local harvest-tides , service , and employees set off creative thinking in local youth (Stone , 2001In states of America like Sonoma , where performing arts be spread widely and happens on a large scale and thitherfore ends up contributing a whole lot to the overall sparing . It is estimated as per the year 2001 that the estimated direct expenditure , indirect spending and related audience spending in which happens to be a huge amount in this industry . Apart form this in that location are many job opportunities created as come up and as per the survey approximately slightly more than 9 ,000 wide , part- sentence and independent contractor jobs were created due to the even upt in which This figure does non include other members of the arts community , such as gallery owners , movie theatres , and their employees (Stone , 2001 . unconstipated Mama Mia ended up brining a large union of 6 .5 million dollars through 2003 contributing to the economyHence , all in all this is a flourishing and upcoming industry which shows to claim a lot of potential and the figures estimated via survey give a very colorful picture to its future as it has a great promise for employment of individuals and economic contribution to the country s or state2 . From an enterprisership perspective , highlight the issues that must be considered when dealing with creations in the performing arts that have cultural or classical rootsAns . As an enterpriser the issues that may disturb the owner would be related to the profits or the ethics or overall profitable incumbrance on the community . As in the case 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 but rather a produce . An entrepreneur evaluated different alternatives while only the one having potential is further finalized . Ideas showing the most potential are consequently moved through the concept stage , the product exploitation stage , the test marketing stage , and finally into commercialization . The entrepreneur should constantly evaluate the sentiment throughout this mental performance in to be able to achievementfully launch the meditation (Hisrich Peters Shepherd , 2007 . then , the first 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 success than the credit 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 therefore should be considered by the entrepreneur before indulging into a performing art that has cultural or classical rootsAn entrepreneur is delimit as the process of creating something new with value by devoting the necessary time and lawsuit assuming the accompanying financial , psychological , and social risks and receiving the consecutive rewards of monetary and personal satisfaction and independence (Hisrich , Peters Shepherd , 2007 . on that pointfore , the enactment of a pre-conceived idea by someone else does not exactly mesh with the literal definition of an entrepreneur3 . Are there special conditions or conflicts of interest , which apply 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 business memorial tablet as a quasi-public sector is backed by the government and therefore there are certain 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 cost of provision 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 people get to benefit out of it . However , 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 people which they can afford as they are backed by the governmentOn the other hand , in regular business people who do not pay for the product are excluded from the provision of the good or service which is not the case in government based products or services 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 . Slight 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 backing 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 remaking the show rather then beneficial copying it makes it innovative in its own sense accordingly qualifying it as an entrepreneurial activity . This is because that the entrepreneur has a strong desire 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 lowest possible cost (Hisrich , Peters Shepherd , 2007BibliographyStone , B (2001 . THE ARTS AS AN INDUSTRY : A Report on the Economic Impact 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 Edition . 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: Orderessay

If you want to get a full essay, wisit our page: write my essay .