Industry

Although kings, rulers and powerful people have always been able to pay for entertainment to be provided for them and in many cases have paid for public entertainment, people generally have made their own entertainment or when possible, attended a live performance. Technological developments in the 20th century meant that entertainment could be produced independently of the audience, packaged and sold on a commercial basis by an entertainment industry.[78][79] Sometimes referred to as show business, the industry relies on business models to produce, market, broadcast or otherwise distribute many of its traditional forms, including performances of all types.[80] The industry became so sophisticated that its economics became a separate area of academic study.[81] The film industry is one part of the entertainment industry. Components of it include the Hollywood and Bollywood film industries, as well as the cinema of the United Kingdom and all the cinemas of Europe, including France, Germany, Spain, Italy and others.[82] The sex industry is another component of the entertainment industry, applying the same forms and media (for example, film, books, performances) to the development, marketing and sale of sex products on a commercial basis. Amusement parks entertain paying guests with rides such as roller coasters, train rides, water rides, and dark rides, as well as other events and associated attractions. The parks are built on a large area subdivided into themed areas named "lands". The buildings in amusement parks are specially created to represent the theme and are not usually authentic or completely functional. Sometimes the whole amusement park is based on one theme, such as the various SeaWorld parks that focus on the theme of sea life. One of the consequences of the development of the entertainment industry has been the creation of new types of employment. While jobs such as writer, musician and composer exist as they always have, people doing this work are likely to be employed by a company rather than a patron as it once would have been. New jobs have appeared, such as gaffer or special effects supervisor in the film industry, and attendants in an amusement park. Prestigious awards are given by the industry for excellence in t

e various types of entertainment. For example, there are awards for Music, Games, Comics, Comedy, Theatre, Television, Film, Video Gaming, Dance and Magic. Sporting awards are made for the results and skill, rather than for the entertainment value. A business model describes the rationale of how an organization creates, delivers, and captures value[1] (economic, social, cultural, or other forms of value). The process of business model construction is part of business strategy. In theory and practice the term business model is used for a broad range of informal and formal descriptions to represent core aspects of a business, including purpose, offerings, strategies, infrastructure, organizational structures, trading practices, and operational processes and policies. The literature has provided very diverse interpretations and definitions of a business model. A systematic review and analysis of manager responses to a survey defines business models as the design of organizational structures to enact a commercial opportunity.[2] Further extensions to this design logic emphasize the use of narrative or coherence in business model descriptions as mechanisms by which entrepreneurs create extraordinarily successful growth firms.[3] Whenever a business is established, it either explicitly or implicitly employs a particular business model that describes the architecture of the value creation, delivery, and capture mechanisms employed by the business enterprise. The essence of a business model is that it defines the manner by which the business enterprise delivers value to customers, entices customers to pay for value, and converts those payments to profit: it thus reflects management’s hypothesis about what customers want, how they want it, and how an enterprise can organize to best meet those needs, get paid for doing so, and make a profit.[4] Business models are used to describe and classify businesses (especially in an entrepreneurial setting), but they are also used by managers inside companies to explore possibilities for future development. Also, well known business models operate as recipes for creative managers.[5] Business models are also referred to in some instances within the context of accounting for purposes of public reporting.