The Business Case
The arts allow people to imagine a world that can be lived and envisioned through a certain kind of way. Cultural organizations and artists create a world where art and business merge to trigger the development and revitalization of different circumstances, serving as models for other professionals around the world. The arts charity event is an example of where stakeholders in art and business can combine efforts for mutual benefits and collective good.
An arts charity event is important because of the opportunity the programs provide in fostering critical thinking and nurturing talent. Inspiring and establishing an innovative and creative workforce in the arts remains incredibly imperative to building this industry to a credible and successful profession around the world. Additionally, this event will raise large amounts of funds due to the large number of artists and photographers willing to take part in the event.
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Businesswise, stakeholders expect to use this event to build a customer and fan base for most of the artists attending the event since majority of them are starting out in the industry. It is difficult for an artist to get recognition in an industry filled with enormously talented individuals: this event provides the best chances for young talent. Additionally, the project board will be able to generate income from commissions and ticket sales.
The event faces certain risks in its operational logistics, such as potential non-fulfillment of budgetary pledges by external sponsors. Additionally, the project may fail to gain approval from the Bedfordshire Project Board, effectively crippling any future bookings and commitments by invited artists and photographers.
The project’s board has not yet established the total capital outlay; however, the initial cost of the event stands at $3000 based on estimates. Based on the brief outline presented for the project, the event is due to take place over a period of three days between the months of March and April 2013, but the exact date is not definite, as the choice of location is not yet definite.
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