Management and the Cultural Industries Essay Example | Topics and Well Written Essays - 2750 words

Management and the Cultural Industries - Essay Example Most experts say that larger corporations have the resources to cater to a large target market; it is the smaller independent producers who are responsible for catering to all the individual needs of the community. To understand this concept we will first look at the importance of this sector in the US economy. The US economy has been chosen because it has an abundance of small individual producers as well as large organizations and both have a significant impact on the consumption patterns of the population. Small businesses are generally the driving force behind most local economies. They contribute to the society by selling their products to customers, products that people need. They also provide employment opportunities to people, which can become reasonable career paths and choices. "Small business drives the American economy," said Dr. Chad Moutray, Chief Economist for the Office of Advocacy in a press release. "Main Street provides the jobs and spurs our economic growth. Ameri can entrepreneurs are creative and productive, and these numbers prove it." The cultural workers and their understandings are also very quintessential within the relevant scheme of things because these bring about a vital change in the working dynamics of the business realms and discuss how success could be made a vital part of the organizational setups (Logue, 2001). The argument against this is that large businesses have the financial backing to keep the business profitable even in the face of intense competition. Larger companies are more prepared to take on risk and are prepared to fail. This tendency allows them to make bolder decisions and be more aggressive in tackling opportunities. Successful businesspeople invest in expert advice. As a result, they make better decisions and take the right actions, for what they need to achieve. This investment allows them to not only learn from their past mistakes but make the best possible decisions in the future. Whatever differentiates the large businesses from the small ones, the fact remains that the businesses need to be run in a manner that incites growth, development and productivity across the board. This shall bear a great amount of positive results at the end of the day. Small businesses often are underestimated for the revenue they generate, and therefore they are considered inferior to the large conglomerates. This is however still questionable and we can see how exactly small companies benefit from this increased competition. The small business realms are large ones if they are handled in a proper way. What this implies is the fact that whole-hearted and concerted efforts and endeavors will win the small businesses what they aspire the most, and how success will come about with the advent of change within the technological manifestations which are taking place on a constant basis. How Small Businesses can effectively compete with the Larger Corporations? As we have seen above, the small business sector is really competitive even in this global economy, however now we must identify how this is possible. One of the biggest resources that companies can use is information technology, where companies can seem more professional to their customers. Using proper information technology tools and resources even small business can expand their customer base and carry out business outside their own