The paper "Arts Entity Economic Sustainability" is a good example of a Macro & Microeconomics essay. Art is a paramount identity in the world today. It gives people authenticity hence making it an instrumental tool in the human race. Individuals and governments have embarked on programs that will revolutionize the arts industry through financing and guidance. In Australia, the artists have fallen on the good hands of the Australian Council that a government body is seeking to provide finances and guidance in the industry (Altman, 2003, p. 63). The main goal of the council is to champion as well as investing in the diversity of Australia arts.
The Council provides national leadership seeking to provide support, building the Australian art, and providing excellence in the end. The council funding and guidance have made it possible for Australian art and artists to have an international engagement. Sources of funds for Australian artists (music and art) Sutton(2015,p. 96), posits that the Australian council's ultimate goal is to provide a fulfilling purpose through supporting the Australian arts and artists hence creating excellent art accessed across the globe.
The council achieves the objective through providing grants to support arts practice as well as organizational arts. Secondly, the council delivers various targeted programs in an attempt to raise the profile hence building the capacity of the Australian artists and creating an audience and market for the arts at the local and national levels. Thirdly, the council has created strategic analysis and research in an attempt to build the evidence base for the arts. Finally, the council acts as an advertising agency where it helps the Australian arts to have a better and fulfilled market at local and national levels.
Therefore, Australian Council has been an important tool in facilitating effectiveness in the arts industry (Altman, 2003, p. 63). Since the inception of the Australia Council in 2013, the council has embarked on significant reforms that will ensure that the art industry works for the best of the artist. On August 18th, 2014, the council formulated a strategic plan that will ensure that financing and grants coming in the council are under good and effective utilization. The five – year strategic plan sought to ensure it has fulfilled the ambitious vision of the Australian arts industry.
The corporate plan will facilitate the implementation of the strategic plan through approval by the Minister of Arts (Bramwell & Lane, 2000, p. 44).
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