Libia Bianibi

This course prepares students to start and manage arts businesses or organizations - whether it be concerning a for-profit or non-profit so that students can see the similarities and differences between the two types of organizations which comprise the field of arts administration. The course surveys the entrepreneurial practices of the for-profit sector as well as the mission-driven operations of the nonprofit sector.

Skill Sets Learned include: how to choose the correct legal entity; staff management: interviewing, hiring, and directing; understanding Marketing strategy using the 5Ps approach (Product, Price, Packaging, Promotion, and Place); basic awareness of Accounting and Financial Records; knowledge of the basics of Contracts and Intellectual Property so as to protect their creative work; familiarity with the basic principles of Economics that affect their business; potential sources of business loans and investors; selecting appropriate Business Insurance; and Business Ethics.

Students write a brief business plan so as to understand of the components and activities that are relevant to a plan. Additionally there is an assignment for a manager?s perspective for a business start up and another for a marketing plan. Course includes 2 written exams in which the student is hired as a business consultant to advise a new business. Also, there are several in-class activities to enhance student?s working knowledge of various business concepts.

Effective management requires knowledgeable and thoughtful preparation and use of financial information. This course focuses on the most critical financial management concepts and skills. Topics include: principles of financial management and control; budget preparation; financial management and strategic planning; allocation and recovery of indirect costs; preparation and analysis of financial reports; and coping with cutbacks. Quantitative analysis is emphasized. Students develop the confidence and ability to produce budgets, set prices and undertake other financial tasks required of administrators.