ABSTRACT
This chapter presents the core terms and principles of innovation and entrepreneurship, initially from a business perspective. The aim is then to show the potential importance of entrepreneurs in music and performance arts across various sectors. Here, music entrepreneurs must find contributing partners to enable productions where they can provide products and services. Entrepreneurial characteristics apply to interdisciplinary cooperation, artistic aspects of productions together with the economic-administrative and commercial elements required.
The author emphasises dynamic interaction in “open contact” networks and in more formal value chains, value workshops, value networks, and supply chains that collectively constitute value systems. The terms and principles behind these general entrepreneurial concepts can apply in different ways for music entrepreneurs.
Value systems consist of all the companies (subcontractors, manufacturers, and resellers, each with their internal value chains) who must cooperate to deliver a product to end-users in different markets, including freelancers and others participating in typical individual projects. Thus, the value system includes the paying stakeholders, which is not always the case with individual value chains.
This chapter also references the use of common entrepreneurial tools like the Business Model Canvas, Value Proposition Canvas, and a generic business plan template.
