Gaming industry includes those corporations that develops and distributes gaming and entertainment products through software programs and gaming hardware such as consoles, arcades, game gadgets and other technologies.
•Intellectual Property Rights
Intellectual Property Rights (IPR) is a term that covers patents, trademarks, and copyright. This law helps understand that all great products and innovation have an origin such as various video game consoles produced by different corporations. IPR are essential to reward and give credit to innovative thinking and protecting innovators’ ideas. This ensures that the creator(s) get what they deserve and gets a reason for their creativity. (Opportunity) Reference:
•Special Interest Groups
Special Interest groups play a significant role in politics and are both influential in encouraging and preventing public policy. There are many special interest groups in the industry and its growing number has put more opportunities and restraints on marketers. Below are some several major advocacy groups in the industry.
The Entertainment Software Association (ESA) is the U.S. association exclusively dedicated to serving the business and public affairs needs of companies that publish computer and video games for video game consoles, personal computers, and the Internet. This group helps protect the industry from risk in business and public relations
The ESA offers a range of services to interactive entertainment software publishers including a global anti-piracy program, business and consumer research, government relations and intellectual property protection efforts. (Opportunity) Reference:
One of the major advocacy groups that put restraints in the gaming industry is the Entertainment Consumer Association, is an advocacy group in the United States that opposes legislative efforts to “unconstitutionally” restrict access to interactive entertainment and looks to protect consumers from outside forces, which try to mould their behavior. This makes game development companies establish consumer affairs department to help formulate policies that resolve and respond to gaming consumers’ complaints. (Threat) Reference:
Land, labor, Capital, and Entrepreneurs are classified as the four categories of economic resources.
The resource labor consists of the physical and mental talents of individuals in producing goods and services. The services of Graphic artist, IT professionals, Programmers, Computer Engineers and technicians and other labor resources that can be vital to the Gaming industry. As regards to the supply of labor, it depends upon the size of total population age composition of the population the availability working population the working hours devoted to production the remuneration paid to the workers, etc.
Land may refer to the natural resources that can be used in production of process, such as minerals, raw materials such as copper, metals, and others. These resources can be used for producing computer hardware.
Capital resources include all manufacturing aids used in producing goods and services. Included are all factory, storage, transportation and distribution facilities, tools and machinery.
Lastly the entrepreneur is a resource distinct from labor. The entrepreneur performs several functions; as an organizer who takes the initiative in combing the resources of land, labor, and capital to produce goods or services, who makes strategic business decisions that sets the course of an enterprise, An innovator who produces new product, new ideas, new production and who is a risk-taker can make more innovations in...