The Concept of Event Management

Added on - 28 May 2020

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Running head: EVENT MANAGEMENTEvent ManagementName of the Student:Name of the University:Author note:
1EVENT MANAGEMENTTable of ContentsIntroduction......................................................................................................................................2Objectives........................................................................................................................................2The concept of triple bottom line.....................................................................................................2Principle of sustainability................................................................................................................3Analysis of the event on the basis of the sustainability principles..................................................3Management....................................................................................................................................5Impact of the event..........................................................................................................................6Positive impact.............................................................................................................................6Negative impact...........................................................................................................................6Conclusion.......................................................................................................................................8References........................................................................................................................................9
2EVENT MANAGEMENTIntroductionThe event that was selected and attended was Fed Square live summer series. The FedSquare live event is an annual cultural event that takes place every year at the end of the year. Aseries of concerts from the various artists take place during the event. Fed Square live takes placein Melbourne each year. The purpose of the event is to provide entertainment to the peopleMelbourne. The event also aims at encouraging the local and upcoming talent to move forward.This year the event started on 23rdNovember. The events were held only on Thursdays. Thedates of the concerts are 23rdNovember, 30thNovember, 7thDecember, 14thDecember and 21stDecember. All the concerts were held in the evening. Having personal experience of the eventwill make anyone understand what a spectacular concert it was. Since it was a free event localmade sure that they attended this event almost on every Thursday (Visit Victoria home. 2017).People who attended the event were very happy and satisfied after attending the concerts.ObjectivesTo provide entertainment to the peopleTo promote social inclusionTo contribute to destination appreciationTo provide employment opportunities to local peopleTo benefit the local service providers (Fedsquare.com 2017)The concept of triple bottom lineThe concept of triple bottom line defies the traditional concept of business model whichusually focused on one objective of gaining profit and increasing the sales of the company.
3EVENT MANAGEMENTAccording to triple bottom line, there are three focus points that an organisation should equallyconcentrate and channelize the resources in these are: Planet, People and Price. This conceptshows that there are certain responsibilities that organisations have towards the environment andthe society which should be recognized and actively managed by the company as well (Isil andHernke 2017). The sustainability approach that is derived from this model ensures that thebusiness creates value in the society and develops a better connection with the stakeholders. JohnElkington, devised this concept has several new and old business organisations have recognizedthe importance of the concept (Tatari et al. 2015).Principle of sustainabilityR. Buckminster Fuller coined the five principle framework of sustainability, it is said tobe the process of development that not only focuses on the financial and economic improvementof the organisation but also on the society and the environment equally. The five core principlesare based on the five domains:The Material DomainThe Economic DomainThe Domain of LifeThe Social DomainThe Spiritual Domain
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