Entrepreneurship in the creative and cultural industries

Module title:

Entrepreneurship in the creative and cultural industries

Module overview:

The aim of this module is to teach students how to turn their artistic ideas and multimedia projects into successful business ventures.

This module continues the knowledge and skills acquired as part of the compulsory course Basics of Business Economics (4th semester), and it is followed by the elective course Application of projects to tenders for financing (6th semester).

It is important for students to attend this module because it will enable them to develop critical thinking, initiative, entrepreneurship and entrepreneurial skills, equally applicable to employers, employees and independent professionals. It will prepare them to take responsibility for their own future. It will enable them to develop business ideas based on their personal and professional values and ambitions, adapted to Croatian and European frameworks for the development of the audio-visual sector and culture.

Through this module, students will learn to independently plan an entrepreneurial venture and prepare it for implementation, which will enable them to independently realize multimedia projects and jobs that they have designed themselves or are designing and realizing with their employer.

It will empower them to use opportunities and support for self-employment and the development of profit and non-profit services on the market and train them for responsible and efficient business in the conditions of digital and green transformation of creative and cultural industries, the economy and society as a whole.

Students will learn:

• the reasons that make entrepreneurial skills a necessary tool for successful business, either independently or within a business organization.
• the importance and elements of entrepreneurial planning that enables the successful realization of multimedia projects.
• which marketing aspects of an entrepreneurial venture contribute to the success of the venture and how to identify the target group and design basic marketing activities for a specific entrepreneurial idea.
• why it is important to secure sufficient funds for starting an entrepreneurial venture, how to define the necessary funds and what are the possible sources of financing for starting an entrepreneurial venture.
• analyse the key legal aspects of entrepreneurial business, with an emphasis on choosing the legal form of business and analysing the obligations arising from that choice.
• explain the key financial elements of business, ways to analyse these elements and how to manage the financial aspects of the realization of an entrepreneurial venture after the initial financing has been achieved.
• on policies for the development of the audio-visual sector and supporting funds, credit guarantees, and grants intended for small and micro entrepreneurs for self-employment and encouraging the production and distribution of digital content.
• on the new European policy of digital business transformation, which, according to the principle of "digital by default", replaces paper-based business with digital.

Literature:

Required reading:

1. Andrews R. (2019) Arts Entrepreneurship: Creating a New Venture in the Arts. Routledge

Additional reading:

1. Massi M. Vecco M. Lin Y. Digital Transformation in the Cultural and Creative Industries: Production, Consumption and Entrepreneurship in the Digital and Sharing Economy. Routledge
2. Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions. Europe’s Media in the Digital Decade: An Action Plan to Support Recovery and Transformation
3. Directive (EE) 2018/1808 of the European Parliament and of the Council (2018) amending Directive 2010/13/EU on the coordination of certain provisions laid down by law, regulation or administrative action in Member States concerning the provision of audiovisual media services (Audiovisual Media Services Directive) in view of changing market realities