MGT 371 Midterm Review.docx - MGT 371 Midterm Review Entertainment Industry Overview 1 Conflicting nature Show Business a Show Creativity Free Agent b

MGT 371 Midterm Review.docx - MGT 371 Midterm Review...

This preview shows page 1 - 4 out of 11 pages.

MGT 371 Midterm Review Entertainment Industry Overview 1. Conflicting nature: Show + Business a. Show: Creativity - Free Agent b. Business: Money – Pecking Order i. Ex. Chairman, CEO, President… etc. 2. Free Agents: Free from bonds of a large institution and agents of their own futures a. Vs. Organization Man: an individual who ignored his own identity in the service of a large organization i. Dominant until 1980s ii. Corporate Paternalism: Ma Bell (Bell System), Mother Met (MetLife), The Great Yellow Father (Kodak) iii. Old Hollywood Model: Big Five studios (WB, MGM, 20 th Century Fox, Paramount, RKO) 1. They owned everything: had their own theatres, their own directors, actors, etc., by 1945 they owned about 17% of the theatres in the entire country and accounted for 45% of the total revenues in the film industry 2. Hollywood Antitrust Case (Paramount Case): Big 5 were sued by the DOJ in 1938. Forced to sell their own theatres. This made studios become more selective in the movies they made which lead to fewer movies produced, rise of independent actors and directors b. Rise of Free Agents: 1990s i. Technology Innovation ii. Hollywood Antitrust Case c. Types of Free Agents i. Soloists: Individual Work 1. The most common variety
Image of page 1

Subscribe to view the full document.

2. Moving from project to project 3. E.g., freelancers, e-lancers, independent contractors, permalancers 4. 80% of independent contractors preferred working independently to being a full-time employee ii. Temps: Work w/ an agency 1. 27% of temps preferred working as temps; 63% wanted a regular job 2. Permatemps: those who work at the same org for a long time as a temp iii. Microbusinesses: Small enterprises 1. 4 out of 5 new jobs are created by small businesses 2. More than half of American companies have fewer than 5 employees 3. Digital technology home-based business d. Entertainment Project Stages i. Development: Idea generation ii. Pre-Production: Plan and organize resources iii. Production: Go out & Do it iv. Post-Production: Pull the parts together and polish the final product v. Distribution & Marketing: Get people to see it e. TED Talk: Martin Villeneuve: What are the benefits of free agency? i. You have full creative freedom and you can express your idea without organizations telling you no or constraining your idea. This was good for Villeneuve because his idea was very far-fetched and not very popular in the area he was filming f. Central Casting video: What are the four managerial functions (planning, organizing, leading, controlling) like for free agents? i.
Image of page 2
Project Management Overview 1. Project: A temporary undertaking performed to produce a unique product or service 2. Nature of projects: a. Be large or small b. Involve many people or just you c. Be defined by legal contract or informal agreement d. Be business-related or personal 3. Misunderstanding about project management a. We have no time to plan (False) b. Structured project management is only for large projects (False) c. Entertainment projects require creativity and flexibility. They can’t be predicted
Image of page 3

Subscribe to view the full document.

Image of page 4
  • Spring '16
  • Shinwon Noh

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes