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Culture and CommerceThe Value of Entrepreneurship in Creative Industries$
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Mukti Khaire

Print publication date: 2017

Print ISBN-13: 9780804792219

Published to Stanford Scholarship Online: January 2018

DOI: 10.11126/stanford/9780804792219.001.0001

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Purpose and Profit

Purpose and Profit

Strategies for Balancing Cultural and Financial Imperatives

(p.163) 8 Purpose and Profit
Culture and Commerce

Mukti Khaire

Stanford University Press

This chapter explores the strategies adopted by producers, who must balance financial and cultural imperatives to maintain viability and standing in both the artistic and the business worlds, each of which has a different, sometimes contradictory institutional logic. Mirroring the strategies used by individual creators, producers attempt to balance both worlds by maintaining varying degrees of separation between the two worlds—blending (no separation), loose coupling or portfolio (some separation, maintained through the production of multiple product lines), and decoupling (complete separation through production of unrelated products or by adopting a not-for-profit business model). Each of these strategies is differentially appropriate for creator firms versus producer firms, and each has specific implications for pioneer producers and new producer ventures, all of which are explored.

Keywords:   institutional logics, blending, loose coupling, portfolio, decoupling

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