Will Grimmer Level 4 Professional Diploma in Creative Enterprise

[UNFINISHED - Posted due to large amount of work already on post] Part 1 - Business analysis tools Swot: PEST(EL) - analysis - what current factors are impacting MY businesses in the UK:' Political: - Owning my own business will mean that taxes are more complicated and I will have to learn how to do so Economic: - If I begin to do work for online clients overseas, exchange rates are still really low - Working almost exclusively on technology will lead to expensive electrical bills, especially as time goes on Social: - Constant rise in national population means lots of potential customers Technological: - Constantly improving, in all areas - Existence of tutorials and specific teaching websites means that self-teaching myself newer skills or features that a client may want in their video is very achievable Environmental: - Energy crises becoming more and more likely to occur soon, potentially being an issue for an all online/electrical business Legal: - Have to be careful of cop...

Intellectual Property Someone's 'Intellectual Property' (often shortened to their 'IP') is most often the phrase that refers to a person's ownership of an idea or design that they came up with. The term is one used in property law, giving the person(s) who initially created whatever creative work/property in question certain exclusive rights to it, meaning that nobody else is legally allowed to copy or reuse said creation without first gaining permissions directly from the IP owner. As a result, the creative work is often treated similarly to a physical property/asset in importance. Copyright (creative pieces, i.e., written work, moving image work, music, etc.) The phrase 'copyright' refers to the assignable, exclusive right the creator of a piece of media or any other creation is given for a fixed number of years, in order to be able to use and distribute that creation they made; often, (unless stated otherwise like with 'royalty-free' pieces of...

Finance - what sources of funding exist within the creative industries? Due to how many differing types of businesses and professions fit within the description of 'creative industries' nowadays, the list of ways to get a hold of funding for one of these businesses is massive, ranging from extremely common and general funding options, to much more uncommon and specific ones. These sources of funding include options such as: receiving funding from customers in exchange for your product and/or service (subscription models, one-off payments, 'pay-per-views', or the license fee for TV specifically), advertising (running general ads on the business or getting direct sponsorships and/or product placements), private capital (funding your own projects), crowd-funding (using sites like 'Kickstarter' or 'Patreon') and using development funds (applying for a loan from a bank, or a grant from a private foundation or the government). Insurance - what types of insuran...

What is a regulatory body and what is a regulatory framework? A 'regularity body' is a public organization, or agency set up by the government, in order to to regulate something. This includes applying requirements, restrictions and/or conditions while setting standards for activities and enforcing these standards in the areas they need to be. The 'regulatory frameworks' are the decisions, directives, policies, guidelines, recommendations and procedures made by said body. These can be either 'mandatory & coercive' or 'voluntary', and are classed as national or international legal mechanisms. Mandatory examples include national laws, contractual obligations and regulations, while voluntary ones include integrity pacts, arms control agreements and codes of conduct. What is Ofcom, what does it do and what framework does it produce and follow? The 'Office of Communications' (known more commonly as 'OFCOM'), is a company whose job and purp...

What is the DCMS and what do they do? The Department for Digital, Culture, Media & Sport (also known more simply as the DCMS) is a British government ran department, responsible for driving growth, promoting the UK overseas and enriching lives, in relation to the four sectors labelled in their name. They claim to promote and protect the cultural and artistic heritage of Britain, while also helping businesses and related communities' growths, investing in innovation they see as worthy while highlighting the United Kingdom as a great place for people from other countries all over the world to visit and enjoy. What are some of their more recent announcements? In terms of what the department has been responsible for over the recent years of the countries they are responsible for, their section of the official government website is commonly updated with detailed announcements on the improvements and breakthroughs they have done for the UK. For example, just in 2021, the DCMS has cla...

Compared to other sectors in the UK, how well are the creative industries doing?  What 'industries' make up the creative industries? The 'creative industries' of the United Kingdom are made up of a wide variety of different industries, ranging from technology focused areas to more practical, hand led ones. This large list of industries involve (but is not limited to): advertising, video games, fashion, literature & publishing, television, film and music. How many people are employed in the UK? As of early March 2021, it was estimated that roughly two million and forty-thousand jobs currently make up the British creative industries. Out of this large number, around seventy-five percent of these jobs take place outside of the London area. This number is out of the approximate total of thirty-two point four million British generally employed people up and down the country, meaning that the creative industries are responsible for a large percentage of employment figures...

What is a mission statement? This should be a statement made by a company which well defines the company's business, their objectives, and the approach to reach said objectives. In order to be a good mission statement, it should also be "emotionally engaging" to those who come across it and read it. What is brand positioning? Brand positioning for a company can be described as the way that a business makes their brand and company appear differently to the public when it is compared to other businesses. This is done and important to brands due to the fact that it helps their business stand out and stick in potential customers' minds better, hopefully leading to more business and profits as a result - a company's 'brand positioning strategy' consists of creating a unique and interesting brand association to stand out in customers' heads, in order to cause them to think of the brand in a certain way (hopefully positively). What, in business, is meant by v...

What is a business plan? In simple terms, a business 'plan' is the planned future objectives and strategies that will hopefully lead to achieving said objectives set out in a document form. A business plan is extremely important, needed in order to present the company's strategy and expectations for the financial performance of the business in the near (or potentially far) future. Business plans do not need to be written extremely formally, or include lots of complicated business related jargon and phrasing; all a good plan needs to do is describe the current position and state of the company, plus what the ideal place for the business to be in in the future, how it will work then and how you intend to get the company from where it is now to where you want it to be. Plans like this can be made for multiple varying purposes, either just to simply have an idea of where you want to be heading towards and how, or to be shown to external people like banks or other potential inve...

Investigate and identify the various types of business in the UK: - Sole traders This is a business type common among people who are first starting up their business. This involves running it as an individual, becoming self-employed as a result, allowing you to keep all profits made for yourself (once tax has been paid on them of course). On the other end of this however, you will also become personally responsible for any losses that may be made from the business. - Limited companies If a business is formed as a Limited Company (often indicated by an 'Ltd.' in a name), the finances of said enterprise are separated from the personal finances of those involved as a result. However, this does come with more managing an reporting responsibilities when compared to some other business types. Some people, due to this, decide to get a professional, such as an accountant, to help them out with these parts of the business, but a company of this form can still be set up solo. - Partnersh...

 'SWOT and PEST(EL) analyses' + 'SWOT - conduct a personal SWOT analysis': 'PEST(EL) analysis - what current factors are impacting businesses and ventures in the UK:' Political - - Britain is currently living in an extremely "divided" time politically - Foreign trade much harder/expensive since Brexit - Government currently under constant scrutiny and criticism on social media and amongst people, with even pressure for PM to step down Economic - - Exchange rates very low nowadays - Unemployment rates currently 4.5% (as of August 2021) - this is quite low historically over the past 10 years as seen on graph Social - - Country populations becoming more diverse - People living longer than ever due to constant medical improvements - Health and cleanliness consciousness, especially since Covid-19, has increased amongst the average population Technological - - Constantly improving, in all areas (less need for employees in some situations) - Older generatio...