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The Impact of Cultural Industries on economic development in developing countries: An Entrepreneurial Perspective

Description

Africa has some of the "fastest growing economies," yet there is a lack of a middle class (Economist). Natural resources have attracted foreign investments, however, most of the revenue exit these economies. What remains a consistent, permanent advantage is culture;

Africa has some of the "fastest growing economies," yet there is a lack of a middle class (Economist). Natural resources have attracted foreign investments, however, most of the revenue exit these economies. What remains a consistent, permanent advantage is culture; it has been the most integrated core value before and after colonialism. The concept of culture has become a part of the identity of Africa and it has not been leveraged to its full potential. The 2013 Creative Economy Report states, "Culture is a way to create jobs and improve people's lives. It empowers people. It works for development" (UNESCO/UNDP). Cultural industries create local sustainable jobs that are less susceptible to the fluctuation of the global economy compared to jobs in factories and multinational companies. They are based on "local tacit know how" that is not accessible globally as they are people intensive rather than capital intensive (Scott A.J, 1999). Activ8 seeks to tap into this opportunity by maximizing the economic potential of developing economies by investing in their cultural industries. Activ8 aspires to accomplish this by targeting two sets of customers: creators, who are the activators, and investors. Our activators consist of two target segments: one living and working in these industries in a developing country, and the other being refugee clients who may have been exposed to a cultural industry and may want to pursue developing cultural products in their new country of asylum. Our investors are globally minded individuals who want to be culturally aware, have an appreciation for authentic cultural products, or seek to invest in entrepreneurial pursuits in Africa. During our first phase we will focus on the cultural industries in Ghana, West Africa. This will range from products in the textiles industry to sculptures and traditional instruments. We plan to pilot the first phase in Ghana and in the second phase, form a partnership with the International Rescue Committee, a refugee settlement agency, in Arizona. Our goals are to provide education and mentoring, market accessibility, product development, and financing to encourage and empower activators to be self-sufficient and successful cultural entrepreneurs, whiles improving economic development in their communities. Our online store will feature our activators' authentic products, their stories, and the cultural importance of each product. There will also be a platform for entrepreneurs in other industries in Africa to connect with venture capitalists or angel investors around the world. The educational component will be infused with product development and entrepreneurship training derived from the "From AHA!! to EXIT" strategy coined by Aram Chavez from the College of Technology and Innovation at ASU. In order for Activ8 to successfully execute its mission, Activ8 will need to be able to give our team and our activators access to technology, mentorship, and financial resources to operate an online store and rum Activ8's educational program. We also envision creating partnerships with boutiques and retail corporations to adapt these cultural products. Our long-term goal is formulate the conditions conducive for economic growth and sustainable development to ensure Africans become the main agents of development.

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Created

Date Created
2015-12

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Creating a Business Model for a Board Game Café With the Goal of Charitable Giving

Description

Research has indicated that, with the rise of the digital age, social ability, emotional maturity, and the capability to empathize have decreased significantly in the newer generations (Generation X and Millenials) compared with previous generations. The primary purpose of

Research has indicated that, with the rise of the digital age, social ability, emotional maturity, and the capability to empathize have decreased significantly in the newer generations (Generation X and Millenials) compared with previous generations. The primary purpose of this thesis was to discover a way to counteract the negative effects of constant screen-time with a space that encourages face-to-face interactions while also contributing monetarily to the community by which it is surrounded.
This thesis explores the viability of the creation of a board game café in downtown Phoenix that would donate a percentage of its profits to local charities and other initiatives for the improvement of the Phoenix area. Using a combination of different entrepreneurship and business model templates, fourteen questions were answered to complete the business model, including questions about resources and partnerships necessary for the venture’s success in addition to what the cost structure and revenue streams would look like. These fourteen questions make up the fourteen different parts of the Lean Launch Business Model Canvas, the template primarily used for the display of the final business model. The business model canvas undergoes “cycles” – that is, different drafts of the canvas are created and added to or modified as needed. This particular business model canvas underwent as many as 15 cycles before becoming finalized and receiving approval.
The completion of the business model canvas invites speculation about its actual viability, bringing up questions about financing, projected sales, and the length of the venture’s future. “Pivots,” modifications of the business model to either increase revenue or decrease costs, are also explored at this point. While this particular business idea does have a sustainable competitive advantage in the Phoenix area as a first mover, it would be unwise to pursue the idea further, as the costs are far too high and the required activities far too numerous to outweigh the revenues and benefits. In addition, it would be difficult to obtain funding at a reasonable interest rate for a venture with such a high risk of failure. In this case, a pivot was considered that eliminated nearly all costs and risk, while still relying on a very similar revenue stream. This pivot suggested a far simpler and more economical way of accomplishing the original goal of bettering the Phoenix metro community and giving customers the chance to rediscover in-person communication.

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Created

Date Created
2016-05

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Marketing to Millennials Within the Airline and Finance Industries Across Cultures

Description

Millennials are the group of people that make up the newer generation of the world's population and they are constantly surrounded by technology, as well as known for having different values than the previous generations. Marketers have to adapt to

Millennials are the group of people that make up the newer generation of the world's population and they are constantly surrounded by technology, as well as known for having different values than the previous generations. Marketers have to adapt to newer ways to appeal to millennials and secure their loyalty since millennials are always on the lookout for the next best thing and will "trade up for brands that matter, but trade down when brand value is weak", it poses a challenge for the marketing departments of companies (Fromm, J. & Parks, J.). The airline industry is one of the fastest growing sectors as "the total number of people flying on U.S. airlines will increase from 745.5 million in 2014 and grow to 1.15 billion in 2034," which shows that airlines have a wider population to market to, and will need to improve their marketing strategies to differentiate from competitors (Power). The financial sector also has a difficult time reaching out to millennials because "millennials are hesitant to take financial risks," as well as downing in college debt, while not making as much money as previous generations (Fromm, J. & Parks, J.). By looking into the marketing strategies, specifically using social media platforms, of the two industries, an understanding can be gathered of what millennials are attracted to. Along with looking at the marketing strategies of financial and airline industries, I looked at the perspectives of these industries in different countries, which is important to look at because then we can see if the values of millennials vary across different cultures. Countries chosen for research to further examine their cultural differences in terms of marketing practices are the United States and England. The main form of marketing that was used for this research were social media accounts of the companies, and seeing how they used the social networking platforms to reach and engage with their consumers, especially with those of the millennial generation. The companies chosen for further research for the airline industry from England were British Airways, EasyJet, and Virgin Atlantic, while for the U.S. Delta Airlines, Inc., Southwest Airlines, and United were chosen. The companies chosen to further examine within the finance industry from England include Barclay's, HSBC, and Lloyd's Bank, while for the U.S. the banks selected were Bank of America, JPMorgan Chase, and Wells Fargo. The companies for this study were chosen because they are among the top five in their industry, as well as all companies that I have had previous interactions with. It was meant to see what the companies at the top of the industry were doing that set them apart from their competitors in terms of social media marketing content and see if there were features they lacked that could be changed or improvements they could make. A survey was also conducted to get a better idea of the attitudes and behaviors of millennials when it comes to the airline and finance industries, as well as towards social media marketing practices.

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Created

Date Created
2016-05

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Beyond Business: Life and Leadership Secrets From A Young Entrepreneur

Description

A fun, interactive, and practical motivational speaking package designed to inspire and encourage high school and college students, as well as young adults, to achieve success and discover their leadership potential. Using secrets learned from starting my own business, Board

A fun, interactive, and practical motivational speaking package designed to inspire and encourage high school and college students, as well as young adults, to achieve success and discover their leadership potential. Using secrets learned from starting my own business, Board Blazers LED Underglow Skateboard Lighting, and performing as Drum Major of the 400+ member ASU Sun Devil Marching Band, I share tips and tricks that can be applied in everyday life. Topics include surviving in difficult leadership situations unique to young leaders, celebrity confidence secrets, and creating infectious enthusiasm while working on a team.

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Agent

Created

Date Created
2014-05

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The Formation and Analysis of a Start Up Venture: Outwork Yourself

Description

This paper takes a look at developing a technological start up revolving around the world of health and fitness. The entire process is documented, starting from the ideation phase, and continuing on to product testing and market research. The research

This paper takes a look at developing a technological start up revolving around the world of health and fitness. The entire process is documented, starting from the ideation phase, and continuing on to product testing and market research. The research done focuses on identifying a target market for a 24/7 fitness service that connects clients with personal trainers. It is a good study on the steps needed in creating a business, and serves as a learning tool for how to bring a product to market.

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Agent

Created

Date Created
2014-05

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From Your Idea to Opening Day: The Preliminary Steps to Starting Your Own Business

Description

The following contains the reasons why one would want to start and own their own business, a brief analysis of the author's experience with his own business, and an eight step guide that will lead an individual through the preliminary work that is necessary when starting a small business.

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Created

Date Created
2014-05

Creating the Moment of a Lifetime

Description

The following creative project was a two part study regarding the wedding and event planning industry. Part one consisted of planning and executing an event followed by an analysis of the event in terms of strengths, weaknesses, and customer feedback.

The following creative project was a two part study regarding the wedding and event planning industry. Part one consisted of planning and executing an event followed by an analysis of the event in terms of strengths, weaknesses, and customer feedback. Part two consisted of evaluating a potential wedding planning company by the standards of the Business Model Canvas Method. The overall goal of this project was to determine if I would be pursuing a career as an independent wedding and event consultant or exploring other career options based on the research conducted and which option would be best aligned with my desires and career aspirations.

Contributors

Agent

Created

Date Created
2013-12

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An Exploration of Value Objectivity

Description

The purpose of this paper is to explore the question of whether there are objective truths about what is good and bad in a sense that extends beyond merely meeting (or failing to meet) certain pre-determined standards. An answer to

The purpose of this paper is to explore the question of whether there are objective truths about what is good and bad in a sense that extends beyond merely meeting (or failing to meet) certain pre-determined standards. An answer to this question would provide a basis for answering more specific questions, such as: Are there acts that are universally bad? Are there truths about what kinds of life are the most worth living independent of the aims people choose for themselves? Is it possible for one person to be right in the case of value disagreement in this non-pre-determined sense? If the answer to these questions is Yes, what facts make this true? Lastly, I will reflect on what conclusions this exploration warrants adopting, and their possible implications.

Contributors

Agent

Created

Date Created
2012-12