Entrepreneurship: activities associated with applying, distributing, sharing creative work (as opposed to the creation, making, generation of creative work) (Bridgstock, 2012)
Enterprise: recognising and taking advantage of opportunities to add creative value
Does the venture do something new? Does it differentiate itself from its competitors in some way? If so, how?
To what extent does this give the venture an advantage?
4 Ps of innovation:
What are the 'bottom lines' of the venture?
How is success measured?
How does it aim to add value?
Is it successful in doing so?
Value-add - quintuple bottom lines
The venture creates, discovers, or recognises an opportunity to meet a need or want. There is demand (or will be) for the creative product or service
Is there a need or a want for this creative product or service?
Is the product or service seen as valuable in some way?
How, and to whom?
Something that is useful to the venture
Does the venture have the required skills, financial resources, equipment, infrastructure, technology, networks to make it all happen?
If not, can it get hold of the required resources?
Who is important to the venture?
What do they want out of the venture?
How will you meet their needs?
stakeholder: someone with an interest in the venture
stakes: something that can be gained or lost because of the venture
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