Role in the society of the entertainment industry Essay

Role in the society of the entertainment industry - Essay Example The various variables that define each of the three are highlighted in detail by evaluating and assessing the environment that the company undertakes its business in. Introduction Entrepreneurship opportunities have consistently kept rising all over the world especially with globalization and internationalization of most businesses across countries. The world markets are gradually becoming a global village in the process. On a more specific ground, the entertainment industry is a key industry the world. Globalization and entrepreneurial opportunities have opened up the entertainment industry markets both locally and international. In this regard, business aspects of any given entertainment organization have flourished, enhanced by creativity and exploitation of the emerging opportunities in the market. S.M. Entertainment is one of the most entrepreneurial companies in the world entertainment arena. Basing its foundation on a humble beginning, the company has successfully become one o f the world leading companies in the entertainment industry. Definitions relating to entrepreneurship have similar features in that they tend to suggest that it involves planning and starting a business, taking the risks involved, taking the opportunities that come with the business and producing innovations that can be measured (Barbara, 2009, p.67). Arthur Cole one of the professors in Harvard defines entrepreneurship in the conceptual way as a purposeful event to initiate, maintain and come up with an enterprise that is profit oriented (Peter, 2006, p. 103).On entrepreneurial basis, the company has consistently evaluated social and economic factors in a bid to establish its operational environment. Innovation is a critical aspect to consider in this pursuit. Creativity and innovativeness is a crucial component of doing business. The company has from time to time developed different product and service packages of its market share. This has been enhanced by exploitation of contemp orary and emerging technologies that best suited for the entertainment industry. This report therefore is basically an assessment and an evaluation of the entrepreneurial and innovativeness aspects of the company and an assertion of the company’s position in domestic and international business. One of the outstanding business ventures whose impacts have been noted and whose technological advancements have taken the world at a storm is the S.M. Entertainment. The individual who bears the ability, energy and the vision to create a new business is actually the cornerstone on which the entity begins and thrives (Acs and Audretsch, 2008, p.171; Acs and Audretsch, 2008, p.128). However, the person should be equipped with a variety of factors and important resources so as to create a meaningful enterprise. This has been the driving spirit in S.M Entertainment. To enhance meeting the interests of this report, both qualitative and quantitative research methods will play a significant role. However, limitations that pertain to the inadequacy of vast information about the company may be lacking. This is due to the fact that many studies concentrate on the entire industry and thus makes general arguments that may or not apply in the context of S.M Entertainment.