The Music & Entertainment Manager - research project proposal

The Music & Entertainment Manager - project - Research Proposal Example In recent times, one of these issues can be said to be online music piracy. The piracy of music generally refers to the act of copying and distributing copies of music for personal gain without the consent of legitimate copyright owners of the music (Kreitz & Niemela, 2010). Online music piracy can therefore be said to be the use of the internet or other online portals for music piracy activities (Chase, Mulvenon & Hachigian, 2006). Even though the effect of online music piracy can be appreciated to be vast and widespread, the research seeks to put a very specific spotlight on the entrepreneurial investment in the music industry. In effect, the research will look specifically at the impact or effect of online music piracy on the entrepreneurship and funding of music projects in the UK. As noted by Duckworth (2005), music as an industry is a well branded business which require a lot of financial investment to succeed. But as to whether the issue of online music piracy is a disincentiv e for entrepreneurs is a question that the research will explore. The aim of the study will be to find the direct effect of online music piracy on music entrepreneurship and funding of music projects in UK. To achieve this aim, the following specific objectives will be targeted. There is a historical context to the effect of online music piracy on sales where The Institute for Prospective Technological Studies, which is part of the European Commission’s Joint Research Centre, published a report suggesting that online music piracy does not hurt sales (Ernesto, 2013). Since this publication, there have been several other academic and professional discourses to debate the real economic impact of online music piracy on the music industry as a whole. The proposed study there comes with the significance of contributing to the ongoing public discourse. The study will add much economic contexts to the subject by looking at how

Modelling Operational Risk by AMA Essay Example | Topics and Well Written Essays - 1250 words

Modelling Operational Risk by AMA - Essay Example Lavin and Scherrish (1999) stressed that these statistical procedures are always expressed as the random vector of data based on risk cells that have specified density for a given vector of the parameter. Â  Shevchenko (2011) associated that Bayesian inference to a number of advantages, for which they are used to model operational risk. A typical example of this is what Embrechts and Puccetti (2008) noted to be the consistency and convenience associated with the statistical framework used in quantifying uncertainties. As a quantitative approach, the outcomes with Bayesian inference are always guaranteed to be the same whenever the similar variables are used. This makes the outcomes with Bayesian inference highly reliable and consistent among a similar set of operational variables within a bank (Lambrigger, Shevchenko, and WÃ ¼thrich, 2007 and Neil, Fenton and Tailor, 2005). What is more, Shevchenko (2011) acknowledged the fact that the Bayesian inference is highly accommodating and versatile as it incorporates expert opinions with historical internal and external data used in various operational risk estimations (Burnecki, Kukla and Taylor, 2005). Â  Even though the Bayesian inference has several strengths and advantages for usage, Shevchenko (2010) lamented that the approach’s over-reliance on scenario analysis and expert judgment acts as a major setback for usage within a good number of firms. Adding to this, Wasserman (1997) and Alderweireld, Garcia and LÃ ©onard (2006) agreed that even though both scenario analysis and expert judgement provide important information for forecasting and decision making, banks with the relatively limited dataset and those that only started a business may not have enough of these to use the Bayesian inference.