Event Impact and Legacies: A Case Study of Ultra Music Festival

This document is a case study on the impact and legacies of Ultra Music Festival. It explores event planning, stakeholder management, and corporate social responsibility.

Running head: MANAGEMENT
Event impact and legacies: A case study of Ultra Music Festival
Name of the student:
Name of the university:
Author note:

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I am a big fan of music and like to go to concerts. Recently, I went to the Ultra Music
Festival. I was surprised that the number of audience increases every year. The festival was
organised at Virginia Key Beach Park and Miami Marine Stadium. I have learned that the
organisers indulge in contract with the venue planners. Venue planners need the written and
proposed request by the organisers regarding the particulars of the events. I feel this is in
terms of estimating the space for accommodating the audience properly. I affirm with the
arguments of Commissioner Ken Russell regarding the value creation for the local hotels.
The proposition of Virginia Key as the preferred location aggravates the complexities in
terms of traffic. Here, I can relate to the stakeholder group of the transport department, under
the Australian government.
I think contacting the City manager is a useful option for preparing the Agenda
through notices. This notice develops relevancy in the operations, stating that the event
planning is in progress. In the process of contracts, monetary resources are essential for
supplying quality materials to the engineers in terms of solving the transport issues. The
financial assessment is necessary for terms of influencing the purchasing power and decision
of the venue planners. In terms of the hotels, communication channels are needed for gaining
an insight into the specific needs, demands and requirements of the clients. Uploading the
information about the special discounts on the bookings helps the event organisations to
increase the trafficking of the audience towards the brand image.
Affirming the opinions of Eskerod, Huemann and Ringhofer (2015), I can say that
stakeholder theory is apt in terms of understanding the management of business through the
preservation of the ethics. Typical components in this direction are corporate social
responsibility, market economy and social contract theory. One of the critical conditions of
the stakeholder theory is the context in which the organisers of Ultra Music Festival map the
stakeholders' needs. As per the arguments of Miles (2017), this is through the means of

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normative identification of the prospective stakeholders, who can contribute to enhancing the
profit margin. I can refer to the offshore marketing, which helps the organisers of the Ultra
Music Festival to research the hotels, who can take charge of arranging for accommodating
the audience visiting the music festival. Emails are sent for gaining confirmation regarding
the strategic alliances, which expands the scope and arena of the business.
As per the assumptions of Tantalo and Priem (2016), in the descriptive theory of
stakeholders’ salience, the operations of the organisations in the external environment is
considered. In this, I can cite the Consent Form, which averts the instances of taking actions
without informing the stakeholders. Staffs of Ultra Music Festival urges the venue planners
and the local hotels to read the terms and conditions of the contracts before accepting the
deals, trades and transactions. Applying the assumptions of Miles (2017), I can say that this
approach relates to .the consciousness towards enhancing corporate social responsibility. The
transport department is involved in the planning process for averting illegal instances.
I feel that the audience is an essential stakeholder in music festivals like the Ultra
Music Festival for catering to their entertainment needs. Therefore, considering social media
helps to seek an insight into the specific needs, demands and requirements of the audience.
Strategic planning is undertaken by the organisers of the Ultra Music Festival in terms of
managing the events in such a way so that everything is in a proper sequence. Aligning with
the propositions of Eskerod, Huemann and Ringhofer (2015), I can also point out the aspect
of capitalism, one of an essential parameter of the stakeholder theory. It projects the
relationship between the business and its stakeholders. Attempt to create value for the
stakeholders is an efficient means for Ultra Music festival in terms of strengthening the
customer base.

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I think Miles (2017) is right in stating that infusing code of ethics in the business
strategies proves beneficial in terms of averting the illegal instances, affecting the mutual
interest of the clients. Transformation has been achieved in terms of sustaining the needs of
the stakeholders with due consideration of the identified and the specified objectives. Typical
evidence of this lies in the Ethical Consent Form, which is uploaded in the social networking
sites and the official website for taking the consent of venue planners, local hotels and
audiences. In this, I can relate the principle of “governance”, which proves appropriate in
terms of catering to the needs, demands and requirements of the stakeholders.
I affirm with the opinions of Eskerod, Huemann and Ringhofer (2015) regarding the
fact that stakeholder synthesis is crucial for the organisers of Ultra Music Festival for
mapping the degree of influence they exert on the decision-making process. In this contest, I
can consider the investors as the fiduciaries, gaining benefit from the success of the event. In
this, conscious approach towards moral obligations is vital in terms of maintaining the
stability in the relationship between the stockholders and the organisers of the Music Festival.
Delving deep into the aspect, incorporation of the stakeholder theory into the business
strategy is assistance in terms of enhancing accountability, transparency and customer safety.
I think that involving the venue planners, local hotels and the audience in the decision
making process assists the Ultra Music Festival Organizers to increase their sales revenue as
well as profit margin. Tantalo and Priem (2016) state that upgrading the infrastructure is an
opportunity for personnel in terms of showcasing their talents. This improvement creates a
positive image of the festival in the community. Herein, I can relate the aspect of corporate
social responsibility in terms of ensuring the wellbeing of the public domain. Festivals are a
means of enhancing Fthe cultural diversity. In this context, I feel that the need of self-
actualisation, proposed by Maslow, proves apt. The aspect of increasing cultural diversity can
be interpreted as something much beyond material wealth. Countering this, I can say that

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financial resources are necessary for terms of providing quality resources to the stakeholders
with due consideration to their mutual interests.
Bringing the 3c model in the context, I can say that competition needs to be fair
enough for gaining the trust, loyalty and dependence from the stakeholders. It might be the
fact that the local hotels attempt to lure the customers through lucrative holiday packages. In
this sense, the chance of gaining customer satisfaction is very meagre. However, indulging in
strategic alliances with the hotels would be a practical approach for the organisers of the
Ultra Music Festival to expand the scope and arena of their B2C business. I also think that
contracts with the venue planners are fruitful in terms of setting the location, which is easily
commutable.
According to the assumptions of Miles (2017), uploading the survey forms on the
social networking sites would be one of an active step in terms of gaining an insight into the
specific needs, demands and requirements of the stakeholders. Rating the responses would
reflect the approach towards fulfilling these needs. Introducing loyalty programs is fruitful in
terms of mapping the stakeholders’ interests towards the implemented strategies. I felt that
discounts on online booking for the passes had lured the audience. I have learnt that planning
was conducted for setting a bigger stage in the event, which was held in 2019. This planning
proved beneficial in terms of accommodating more audience. The systematic approach and
adequate backup architecture plans acted as an agent for the Ultra Music Festival organisers
to tactfully handle the interventions from the community members. I think this approach is
apt in terms of enhancing the parameter of corporate social responsibility.

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Bibliography
Eskerod, P., Huemann, M. and Ringhofer, C., 2015. Stakeholder inclusiveness: Enriching
project management with general stakeholder theory. Project Management Journal, 46(6),
pp.42-53.
Miles, S., 2017. Stakeholder theory classification: A theoretical and empirical evaluation of
definitions. Journal of Business Ethics, 142(3), pp.437-459.
Tantalo, C. and Priem, R.L., 2016. Value creation through stakeholder synergy. Strategic
Management Journal, 37(2), pp.314-329.