CULTURAL AND SOCIAL

ENTREPRENEURSHIP
By: - NIKITA PARIDA

Regd No: - 20024103

Contents
1. Concept of entrepreneurship
2. Cultural Entrepreneurship
 How is Cultural Entrepreneurship spreading in
India?
 Characteristics of a good Cultural
Entrepreneurship
 What’s the state of Cultural entrepreneurship
around the world? How is India different from the
rest of the world?
 Some examples of Cultural Entrepreneurship
 Conclusion
3. Sports Entrepreneurship
 Introduction
 Sports is full of Entrepreneurship Opportunities
 Opportunity for Entrepreneurship is Unlimited
 7 Ways Sports Can Help You Become A Good
Entrepreneur
  Top Players Who Turned into Sports
Entrepreneurship
 Importance of sports entrepreneurship
 Conclusion
 References

CONCEPT OF ENTREPRENEURSHIP
Entrepreneurship is the ability and readiness to develop, organize and
run a business enterprise, along with any of its uncertainties in order to
make a profit. The most prominent example of entrepreneurship is the
starting of new business.

An entrepreneur is defines as someone who has the ability and

desire to establish, administer and succeed in a startup venture along
with risk entitled to it, to make profit. There are different types of
entrepreneurship.

i. Cultural Entrepreneurship
ii. Sports Entrepreneurship

CULTURAL ENTREPRENEURSHIP

The term cultural entrepreneurship applies to the creation of any

product or service that preliminary targets our tastes, and that is an
impression of our tastes, whether it’s our taste in fashion, movies, music,
stories, games, cuisine or opinions.
What we have to understand is that culture, more than almost any other
industry, is almost always in the private domain; only in very
unfortunate countries is culture significantly done by the public sector.
So, culture is produced by private individuals who spend effort creating
it, marketing it and try to make a living by selling it. These individuals
are well set, though most rum on two margins and the companies
involved are preliminary small and universally each-strapped. So,
culture is a hotbed of entrepreneurship.

CREATIVE AND
ARTISTIC
ENTREPRENEURSHIP
CREATIVE AND
ARTISTIC
ENTREPRENEURSHI
Cultural entrepreneurship is a
relatively young research eld
within entrepreneurship research
(Hausmann and Heinze, 2016).
Entrepreneurship in the cultural and
creative industry means
creating creative ideas and pursuing
them within business path for
protability (Wilson and Stokes,
2006). This entrepreneurship does
not focus only on protability.
Rather, the main aim is creativity and
probability of a new object creation.
Entrepreneurship dimensions
are combined with innovation areas
(ordered construction, a
traditional economy with a powerful
structure). Nevertheless,
there is not a general agreement on
how to dene entrepreneurship
or whether or not it acts as risk-
taking, the creation of a risky
activity or stimulus of innovation.
Even, that how this issue can
How is Cultural Entrepreneurship spreading
in India?
India has had a few mature, advanced cultural sectors for a while. Film
and music were both cultural sectors for a while. Film and music were
both enthusiastically adopted very soon after Independence and those
industries have grown to be world-class. Restaurants were also
universally present, along with iconic eateries in every city. The change
that we are seeing is the growth of new cultural sectors: an explosion in
publishing breakthroughs in animation, a revival in comics, and very
importantly, a massive influx of recreation spaces was led by incredible
growth experienced by cafes in the last decade.

Characteristics of a good Cultural

Entrepreneurship
 They are alert to opportunities.
 They are creative in terms of the artistic content but also of the way
in organizing the conversation and arranging the finance.
 They have prudent and exhibit courage, hope and faith in their
actions.
 The artistic content in their passion and commitment and they are
persuasive in the sense that are able to convince good artists to
work with them, bring about interest in the art, etc.
 Cultural entrepreneurs make industries to address a social
problem. For cultural entrepreneurship, business success and
positive social change are equally important goal line, which can
take the form of monetarily feasible initiatives that are responsible
for solutions like access to quality drinking water, mortgages for
poor people and ethical urban redevelopment.
What’s the state of Cultural entrepreneurship
around the world? How is India different from the
rest of the world?
Cultural industries the world over make less money than technology and
industrial good. It’s the same in India. Bollywood’s entire industry
turnover is less than ₹ 3000 Crore, which is less than the annual revenue
of a mid-sized industrial house.

India is actually not badly placed in terms of cultural products,

since there is a lynchpin industry which actually makes some kind of big
money – the movie industry. The movie industry can greatly push
forward the development of gaming, animation and comics. It already
provides a bulwark for dance and music. Overall, I think it gives us
leverage as cultural entrepreneurship.

Some examples of Cultural Entrepreneurship: -

1. Singers
2. Musicians
3. Artists
4. Writers

Conclusion:-
These entrepreneurship changes culturally who organize cultural,
financial, social as well as human capital to make a profit out of it. They
produce products that are culturally good and generating a lot of
opportunities for economy, society and culture.

SPORTS ENTREPRENEURSHIP

Introduction:-
Sport is a dynamic and unique industry that is inherently
entrepreneurial on numerous fronts, and while entrepreneurship
literature has expanded to include various categories of
entrepreneurship, including social, community – based and corporate
entrepreneurship, few connections between sport and entrepreneurship
exist in current literature.
“Sports is full of Entrepreneurship
Opportunities”
From the moment one decides to pursue a career in sports, one has to
think of it as an industry with separate sciences for training, nutrition,
competitions. Coaches should be the best in their fields as they play the
most important role of mentor/guides.

At the every – level one needs to have great facilities, great talent
and good marketing skills. An athlete, a team, a league, an arena are all
products that need packaging, maintenance, managing and
development. It’s all related to business and revenues as its gets more
and more exact.

Opportunity for Entrepreneurship is

Unlimited
In sports, one has a plethora of opportunities, from building an app for
fan engagement and management, to starting coaching classes for
children, to building good infrastructure and everything that goes with it.

7 Ways Sports Can Help You Become A

Good Entrepreneur:-
We all know sports are an integral part of our health, but it can also help
us to become a good entrepreneur.

i. Get Your Imaginative Juices Flowing - Sports not only tones your
muscles but also improves brainpower. It helps in increasing the
blood flow to the brain.
ii. Helps To Build Network - Fitness can strengthen our existing
business relationship and build network with prospective clients.
Sports is always played in a team, therefore it helps to open up the
window into individual personalities and helps to communicate in
a different way.
 iii. Reduces Stress - Playing sports increases the production of
endorphins that gives you a natural high and reduces the stress on
hormones.
iv. Boosting Your Confidence - Whether going through a rough patch
or building a business, the smallest of sport can help you gain the
self-confidence you need to achieve bigger goals in your business
life.
v. Overcoming Business Challenges - Training for a particular sport
such as football or badminton can help entrepreneurship re-learn
the importance of determination and goal setting.
vi. Improves Energy - Ditching laziness early in the morning and
simply heading for a game of sport can energize your body for the
whole day.
vii. Learning To Let Go Of Control - A lot of entrepreneurship think
they have to handle everything on their own, but there is a lot of
stress that goes with power, level of control and decision making.

Top Players Who Turned into SPORTS

ENTREPRENEURSHIP
Sports Business in India is on the verge of becoming the next big thing
with huge corporate influx due to mushrooming leagues in different
sports. Indian sportspersons, after making their mark on the field have
taken kindly to benefitting from the rising industry off the field too. We
look at some stars who have delved into sports business in different
capacities.

The god of Indian cricket, after mesmerizing India with his

game has continued his success off the field too. The master blaster has
put multiple investments in budding businesses like Musafir (Internet
Travel Company), Smaaash (sports simulation), ISL (kerela blasters),
S Drive and Sach (Healthcare Products) and Pro Kabaddi League
(Tamil Thalaivas).

The perceived successor of Sachin Tendulkar on the field,

Virat Kohli has managed to build his brand off the field too. Kohli
launched his chain of gyms and fitness centres called Chisel in
association with franchise India. The firm plans to launch a total of 75
centres in 3 years, with Virat’s investment in the chain almost INR 90
crores. In 2014 Virat launched his fashion brand WROGN. He is also a
co-owner of ISL club FC Goa.

Mahesh Bhupathi, after being one of the faces of Indian tennis on the
court has managed to create a huge impact for sports in India. Mahesh
Bhupathi started Globosport, a sports marketing and celebrity
Management Company. Bhupathi even started the International Premier
Tennis League in an endeavor to bring quality tennis starts to Asia.

Importance of sports entrepreneurship

 Sports entrepreneurship promotes the creation and
sustenance of business ventures by focusing on the
significance of business activities.
 Sport entrepreneurship encourages new business ventures by
taking advantage of globalization and an entrepreneurial way
of life.
 Entrepreneurs provide a basis for creative activities in field of
exercise. Exercise entrepreneurship is dynamic and effective
on number of management trends like business strategies,
management crisis, and performance management,
innovation in products, promotions, and technological
progress.

Conclusion
The uniqueness of sport and its entrepreneurial nature provide
an opportunity to examine it within the context of
entrepreneurship. The entrepreneurial effort of both orga

nizations and individuals has been significant in the history of

sports, and as sports organizations face challenges. Thus, both
academics and practitioners can benefit from consideration of
sports entrepreneurship. While a direct connection between
 sports and entrepreneurship is not always noted, examples of
sports organizations engaging in entrepreneurial initiatives
involving innovation, risk, and a proactive approach are
plentiful. Further research can investigate connections between
entrepreneurship and various sports disciplines, including
sports marketing and sports management.

References
1. https://www.vizaca.com/global-focus-cultural-entrepreneurship/
2. https://www.tandfonline.com/doi/abs/10.1080/14479338.2016.1268521?
journalCode=rimp20
3. https://yourstory.com/2013/09/boomtown-author-aditya-mukherjee-
cultural-entrepreneurship-in-india/
4. https://www.entrepreneur.com/article/295857
5. https://inc42.com/resources/sports-help-become-entrepreneur/
6. https://fitpublishing.com/sites/default/files/excerpt_sportsentrepreneurs
hip.pdf