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'Sound business models are a necessary component in a healthy visual arts ecology and essential for most publicly funded organ - Essay Example

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'Sound business models are a necessary component in a healthy visual arts ecology and essential for most publicly funded organ

The focus would be on what can be changed as well as the aspects that have so far worked well in the same (Beder, 2006). In general perspectives, most of the business models that are being used in sector of visual arts are perceived as generally weak, and mostly subject to vulnerability conditions that have since hindered or even reduced to a great proportion the funding to the sector. This is a belief that is widely supported by research by various scholars who have once studied the same. For instance, most organizations in the visual arts sector are considered to have been under-capitalized, with their reserves being barely minimal to even support growth ideas and projects in the organizations. The effect of this is that the organizations can barely protect themselves from financial crisis moments in which case even the necessary reforms in the sector are thwarted. However, in real sense, such organizations if they can exploit their potentials have the capabilities to increase their activities hence, be able to convert some of the losses they have incurred into additional income. In this paper, I will seek to present the arguments that are against and those that are for the use of sound business models in visual arts ecology as a healthy component. The achievement of this will be made possible through the analysis of some of the obstacles that have hindered organizations from achieving their targets in ensuring that they have sound business models. The sector of visual arts is very lucrative and entails a lot of creativity hence, the need for firms that seek to invest into it to have updated and modern, sound business models that can enhance substantial growth in the same. However, like any other sector in the economic structure of a country, it is faced with challenges that have threatened to derail projects and stall development of business models intended for its use (Milne, Tregidga & Walton, 2009). Contemporary visual art world and arguments In the modern world of visual arts, there exists a strong flavor of individualism in which the economic values for the development of such business models are enhanced. When this is considered from the perspective of a business growth concept, several problems may arise leading to its dispute. One such issue may be that by business being a collective issues, at times it may be extremely difficult for the organization to attain anything good if it does not consider or understand the value of the same. For a start, this has been the main argument against the establishment of sound business models by organizations (Ewing, 2010). The second argument against this development of business models is that while the business field warrants free entry and exit of firms and ideas, and as such just presents more challenges to businesses than solutions. For instance, it is viewed that such a free entry does not imply that the increased customer base will lead to translated high revenues by the firm (Bundy, 2002, p.45). Consequently, even the overheads of the business and the surpluses may not necessarily imply that there will be increased business activities hence, high revenues. The opposite is always true with ...Show more


Sound Business Models Are a Necessary Component in a Healthy Visual Arts Ecology and Essential for Most Publicly Funded Organizations Name: Institution: Tutor: Course: Date: Executive Summary The nature of business is a constantly changing matter and so is the nature of the models that businesses use to drive their growth prospects…
Author : jheller
Sound business models are a necessary component in a healthy visual arts ecology and essential for most publicly funded organ
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