Louis Western's L4 Creative Enterprise Blog

  Task 6:  The main industries that make up the creative industry are; advertising architecture visual art crafts fashion and textiles design performing arts music photography film and video computer games radio and TV writing and publishing heritage software/electronic publishing cultural education All of these individually on their own are still strong, however put together these individual industries make a very large percentage of the UK economy. It is estimated that the creative industries contribute around 13 million pounds an hour to the UK economy. Source: https://www.gov.uk/government/news/uks-creative-industries-contributes-almost-13-million-to-the-uk-economy-every-hour The statistics released on 26 Jul 2017 showed that employment across the creative industries reached almost 2 million (1,958,000) in 2016. The sector now provides 6% of all UK jobs. The total employed in the sector is up 5% from 2015 compared with growth of 1.2% in the UK workforce as a whole. Th...

  Task Five: The main 4 parts of intellectual property are; trade secrets, patents, copyrights and trademarks. Each of these individually make up the bulk of intellectual properties in companies.  TRADE SECRETS Trade secrets refer to specific, private information that is important to a business because it gives the business a competitive advantage in its marketplace. If a trade secret is acquired by another company, it could harm the original holder. Examples of trade secrets include recipes for certain foods and beverages, new inventions, software, processes, and even different marketing strategies.  When a person or business holds a trade secret protection, others cannot copy or steal the idea. In order to establish information as a “trade secret,” and to incur the legal protections associated with trade secrets, businesses must actively behave in a manner that demonstrates their desire to protect the information. Trade secrets are protected without official registratio...

  Task three: A business plan is a document containing business objectives and ways the business can achieve these objectives. A business plan lays out a written road-map for the firm from each of a marketing and financial standpoint. A business model describes how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. The process of business model construction and modification is also called business model innovation and forms a part of business plan I mentioned earlier. Business models are very useful to planning out how your business is going to make profit.  A sustainable business model can be defined as a business model that creates, delivers, and captures value for all its stakeholders without depleting the natural, economic, and social capital it relies on. If stakeholders are not getting profits back from the business they are not going to want to invest. If the business model isn't good or sustainable no-one would ...

  Task four: A mission statement is a short statement of why an organization exists, what its overall goal is and identifying the goal of its operations. It also includes what kind of product or service it provides, its primary customers or market, and its geographical region of operation. These are very important for a business because it gives potential customers or shareholders a glimpse into what kind of business it goes into. Brand positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors and different from the concept of brand awareness. Brands that stand out compared to other brands tend to do better than companies and brands that are not unique. Value and drivers are characteristics of a business that either reduce the risk associated with owning the business or enhance the prospect that the business will grow significantly in the future. It is your job as the owner to create value wi...

 Task two: Sole traders:  a person who is the exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for all losses. Limited companies:  a private company whose owners are legally responsible for its debts only to the extent of the amount of capital they invested. Partnerships:  A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. There are several types of partnership arrangements. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners have limited liability. Social enterprises:  an organization that applies commercial strategies to maximize improvements in financial, social and environmental well-being—this may include maximizing social impact alongside profits for co-owners. Charities:  an organization set up to provide help and raise money for those in need. Unincorporated associations:...

Task One: SWOT stands for strengths, weaknesses, opportunities and threats. These can be used to analysis any business and give a good indication on how the business is doing. When analysing a business it is best to do your strengths and weaknesses within the company and have opportunities and threats outside of the business.  The video I've linked above is a video I've found explaining SWOT. It explains how SWOT is used and how it benefits all types of business. From big businesses like Amazon to small and local businesses.  PESTELE (Political, Economic, Social, Technological, Environmental, Legal, Ethical) analysis is a  tool used by marketers to analyse and monitor the external marketing environment factors that have an impact on a company. The result is used to identify threats and weaknesses which are used in a SWOT analysis. SWOT and PESTELE are used together often by businesses as which is called macro environment. Macro environment is the condition that exists in ...

Evaluation:  So far this year my main focus has been developing my idea for a creative enterprise. But this year I have also done so much more than just formulate a business plan. To start this year off, me and my classmates made a short film called Hollow, this film was about a group of teenagers, two popular and two unpopular who go into a woods, only to find out the two popular kids plan on killing the two unpopular kids, after these murders are attempted, it turns out that one of the kids survived and was framed for this murder, which he is later arrested for. I played a big part in this films production. Not only did I oversee most of the pre-production paperwork etc. I also played one of the unpopular teenagers, who was the one unfortunately killed. Since this was the production I've worked on in nearly a year. I really enjoyed making this film and it sparked my creativity bug which went away during the first lockdown and summer holidays.         In O...