Towards a Framework for Business Models in Event Management
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The choice of the right business model has proven to be an important success factor, regardless of the industry. Although in literature and practice the concept of business models has been broadly discussed, a comprehensive definition of business models in the context of event management has not been provided so far. Due to the rising experience-orientation of society – both in private and in business context – event management has emerged to an industry sector of increasing importance. By now, event management represents an interdisciplinary field which requires efficient and effective interactions of all involved business partners. This article describes the derivation of the constituent elements of business models in event management and classifies them to a business model framework. The derived business model framework depicts the underlying relationships between business model elements to the concepts of strategy and business processes.