MBA 705 Miami International University Music Business Digital Label Essay

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Tnzoyvat123

Writing

MBA 705

Miami International University of Art and Design

MBA

Description

My Product Idea: Build a Digital Music Label of Various Music Artists

Concept: Find New ways to profit in the evolving music market using new technology and current trends.

5-8 Pages

Submit the assumptions and contingency planning, which includes your explanation of assumptions you have made in creating your business implementation plan, any factors that may affect those assumptions or the success of the project, and how you have planned for those contingencies. At a minimum, you should discuss any cross-cultural, economic, and geopolitical factors that may impact the business environment and concept; how you will ensure that the project operates in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained; plans for incorporating stakeholder and customer diversity into planning and implementation of the concept; and the role corporate social responsibility will play in the implementation of your concept.

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MBA 705 Milestone Five Guidelines and Rubric Overview: For the capstone assessment, you will create a business implementation plan and audiovisual presentation for the product, service, or idea you have been developing throughout your MBA coursework. In Milestone Five, you will submit the assumptions and contingency planning, in which you will clearly explain the assumptions you have made in creating your business implementation plan, any factors that may affect those assumptions or the success of the project, and how you have planned for those contingencies. At a minimum, you should discuss any cross-cultural, economic, and geopolitical factors that may impact the business environment and concept; how you will ensure that the project operates in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained; plans for incorporating stakeholder and customer diversity into planning and implementation of the concept; and the role corporate social responsibility will play in the implementation of you concept. Critical Elements:  Explain the assumptions you have made in creating your business implementation plan, including a discussion of any factors that may affect the assumptions or success of the project, and how you have planned for those contingencies.  Discuss any cross-cultural, economic, and geopolitical factors that may impact the business environment and concept.  Explain how you will ensure that the project operates in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained.  Outline plans for incorporating stakeholder and customer diversity into planning and implementation of the concept.  Discuss the role that corporate social responsibility will play in the implementation of your concept. Academic Honesty and Plagiarism Throughout this capstone you will draw from many of your previous courses, including assignments and artifacts. You will continue to build upon these projects and ideas throughout the capstone. This is an essential part of your academic career, so it is important to avoid plagiarism, specifically self-plagiarism. Please review the Academic Honesty and Plagiarism Library Guide as well as the article What Is Considered Plagiarism And How to Avoid It for more information on the proper steps to take for citation. Southern New Hampshire University requires all students to adhere to high standards of integrity in their academic work. Activities such as plagiarism and cheating are not condoned by the university. Review the full Academic Honesty Policy for more information. Guidelines for Submission: Your draft must contain all of the elements listed above. It should be 5 to 8 pages in length (excluding the title page, references, and appendices) using 12-point Times New Roman font, with one-inch margins. You may include summary pictures, charts, graphs, or other explanatory diagrams as needed to successfully explain the concept and implementation, but should use appendices for detailed supporting documentation. Your paper should follow APA guidelines. You must include at least 5 scholarly sources. Cite your sources within the text of your paper and on the reference page. Critical Elements Main Elements Critical Thinking Assumptions Cross-Cultural, Economic, and Geopolitical Factors Legally and Ethically Compliant Environment Stakeholder and Customer Diversity Corporate Social Responsibility Articulation of Response Proficient (100%) Includes most of the main elements Provides logical conclusions and defends with examples Explains the assumptions behind the plan and includes a discussion of any factors that may affect the assumptions or success of the project and contingency planning Discusses cross-cultural, economic, and geopolitical factors that may impact the business environment and concept Explains how the project will operate in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained Outlines plans for incorporating stakeholder and customer diversity into planning and implementation of the concept Discusses the role corporate social responsibility will play in the implementation of the concept Submission does not have critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Not Proficient (0%) Does not include any of the main elements Does not provide logical conclusions Does not explain the assumptions behind the plan and include discussion of any factors that may affect the assumptions or success of the project Does not discuss cross-cultural, economic, and geopolitical factors that may impact the business environment and concept Does not explain how the project will operate in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained Does not outline plans for incorporating stakeholder and customer diversity into planning and implementation of the concept Does not discuss the role corporate social responsibility will play in the implementation of the concept Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Total Value 15 15 12 12 12 12 12 10 100%
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Explanation & Answer

Attached.

Running head: DIGITAL MUSIC LABEL

Digital Music Label

Author’s Name
Institutional Affiliation
Course Name and Number
Professor’s Name
Assignment Due Date

1

DIGITAL MUSIC LABEL

2

Introduction
Music is a practically persistent part of routine life for most of the people all over the
world, “from listening to the music playing the background in the car to watching some music
videos on the televisions” (Bockstedt, Kauffman, & Riggins, 2006). All music we listen to pass
through an extensive process, from how it is produced, how it moves from a concept to a
product, and various organizations and individuals that make it successful. An overall term for
all the contributors that are part of the creation, presentation, recording, marketing, and running
of the lucrative venture in music is the music industry. It is a multifaceted system of various
organizations, companies, and individuals. A record label is a marque in the music industry that
controls broadcasting and advertising of both music videos and soundtracks.
Record labels appear to be proclaiming their status in the music industry considering the
rebound of global music industry revenues to 18.9 billion US dollars in 2018 after years of
inactions (Czerwinski, Fromm, & Hodes, 2007). Just like any other business in any other
industry, diversification presents excellent opportunities for increasing the rate of profitability.
With the same spirit of diversification, integrating a digital music label will eradicate biases in
the music genus and entice various artists creating a distinctive trademark for the company and
consequently increasing revenues and profitability. Since the internet and various technological
interventions have changed people’s lifestyles, this digital music label will also generate a lot of
revenues from digital consumers. Streaming is the main form of music consumption today, with
many music labels making billions of dollars from it alone. In 2019, about 80 percent of all
recorded music industry revenues originated from streaming alone, a percentage that is projected
to surge in the future (Czerwinski, Fromm, & Hodes, 2007).

DIGITAL MUSIC LABEL

3

The Assumptions behind the Plan
The applicability of this business idea, its success, and its sustainability in the
competitive market relies on various assumptions.
1. Customer base
There is a significant customer base for this business venture both in the US and globally
(Czerwinski, Fromm, & Hodes, 2007). The accessibility of onlin...


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