Today's Entrepreneurship in Theatre/Visual Arts

Entrepreneurship has traditionally been defined as the process of designing, launching, and running a new business, which typically begins as a small business in other words known as a start-up company. A start-up offers a product, service, or process for sale or hire. The types of individuals who create this kind of businesses are typically known as entrepreneurs. However, this is only the tip of the iceberg, because being an entrepreneur requires the capacity and willingness to develop, organize, and manage a venture along with any associated risks to traditionally make an end goal that is profit. In the article Suffusing Entrepreneurship Education throughout the Theatre Curriculum by Linda Essig states that entrepreneurship has been an academic question since the early 1960’s, starting from how-to courses on how to start a small business. The article goes deeply into the fact that innovation and creativity into performing arts is worth greater than the actual implementation of operations itself.

Most business schools tend not to value entrepreneurship similarly to more traditional subjects such as marketing, accountancy, and management when it comes to ranking in the structure of tenure reviews. The author justifies that entrepreneurship should not be taught in business schools, but rather in "individual disciplines." In other words, an independent learning program such as engineering schools which embrace the mechanics of entrepreneurship where inventions could lead to the open market. In comparison with engineering schools, the author begins a similar argument for visual art leaders who learn about entrepreneurship within their theater curriculum in school. The author states that theatre entrepreneurs come in many shapes and forms of contribution such as playwrights, designers, directors, or actors who develop creative products in the form of performances or plays that stick within their "disciplines" or private seminars.

Since "arts entrepreneurship" is much newer than the field of entrepreneurship within business schools. The author provides several implications of why the utilization of this area is essential for future business growth by discussing creative innovation in contrary to an arts curriculum, and current practices in theater entrepreneurship education. In the article, A Treatise on Political Economy quotes "the person who takes upon himself immediate responsibility, risk, and conduct of concern of industry, whether his own or borrowed capital" explains the need to evaluate the associated risks between managing an investment and creating the work of art. The core difference between the two is that for an MBA holder, a positive financial report is more important than the original invention. However, the vision MFA holder works differently for those who value the opportunity to practice theater art as their primary reward.

When it comes to an understanding of the fundamental relationship between entrepreneurship and the visual arts it can be applied to almost any performance even if it’s not a traditional theater play. In contrast, to show enterprise, a dynamic aspect of this is not always what the audience can see on the front end, but most importantly the backstage work that can drive a huge factor to a plays success. For example, in Our Town before each scene, the narrator explains in detail the time map, location, and forecast the town is taking place. The ability to convince the mindset of the audience into being transformed into that time era has a lot to do with stage setting, costume design, and unique sounds that would only be heard or seen in the most rural areas.

In my opinion, I agree with the author's point of view that entrepreneurship is an undervalued field especially if you are going to business school. There are various important roles to play when creating a business venture, and being that I am part of a start-up company requires the openness to take risks, and the tenacity to manage multiple types of work to meet deadlines within a short period. However, I am indifferent to the author's opposition on the difference between business venture and a theater play even if you remove the financial side of the whole deal. The only disagreement I must make with the author is the fact that implementing a process of operations is more important than innovation, because there must be high amounts of communication between both the actors/supporting roles and backstage crew with the director. Lastly, no matter what project you are creating, there will always be innovation, risk, and a race against time in order to create a valuable piece of work.