CultureLabel

Before an arts or culture institution can begin to fully realise its potential, we need to be clear what assets it has to work with. Many organisations I speak to have a lot of trouble articulating exactly where their sources of value and differentiation rest.

I am therefore proposing six categories of culture assets as a starting point for discussion: product, process, form, values, physical and relationships. Unlocking the full potential of these assets becomes the basis of entrepreneurial innovation, as Peter’s post begins to explore.

Categories of culture assets:

1. Product

The core artistic output of an institution or the pieces held within the collection of a museum. Much of the entreprneurial potential of this asset category lies in finding alternative distribution channels (physical or virtual) for the pieces.

2. Process

The unique processes involved in creating a new work of art or curating a collection. Typical aspects could include idea generation, time management, professional skills, remixing previous works, skills utilised in the curatorial process, balance of conflicting interests. There are many, many more, some of which are specific to particular artforms or sectors. The entrepreneurial potential again involves applying these skills and processes in alternative enviornments.

3. Form

The structural organisation and dynamics of arts and culture players. To some extent this overlaps with process, although I see this as focussing on the unique work patterns used in the sector. For example: collaborative work groups, ensemble working, fluid project teams, the power dynamics within these networks and structures, the balance between ‘business’ and ‘creative’ skills, etc.

4. Values

The values generally attributed to arts and culture institutions by the general public. For example, values of expertise, trust, integrity, honesty, neutrality, brand heritage, transcending the norm, authenticity… As suggested in the earlier post, the challenge for cultural entrepreneurs is finding ways to utilise this asset base without damaging the fundamental source of its integrity.

5. Physical

The buildings and other physical assets (e.g. sets, equipment) owned by the institution. This is one of the most familiar asset groups for institutions, as demonstrated by the common focus of sponsorship deals on client entertainment, plus the proliferation of onsite revenue streams through cafes, shops and special paid-for events.

The two main challenges for cultural entrepreneurs engaging with physical assets are: (a) innovation - everyone’s at it (with varying degrees of success), so how can we make our solution stand out?; and (b) footfall - this tends to be heavily reliant on either the existing visitor base or a highly effective marketing campaign to attract new users to the new services.

6. Relationships

The personal relationships between institution, staff and users is often uniquely loyal, intense and emotive. Whilst this overlaps with the ‘values’ asset base, this type focusses explicitly on the interpersonal relationships that demonstrate and ideally perpetuate the more abstract notions previously mentioned. Again, the challenge for entrepreneurs is to find ways of deepening or widening these relationships, without damaging their core essence.

I hope that these six categories of cutlure assets provide a starting point for debate. I’m sure that over the coming weeks and months these will be refined, edited and explored further, but I hope it helps give a common reference point for understanding value creation by cultural institutions.

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