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How do you incorporate sustainability and social responsibility into your corporate event budget?

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Corporate events are a great way to showcase your brand, engage your stakeholders, and celebrate your achievements. But they can also be costly, complex, and challenging to plan and execute. How do you create a realistic and effective budget for your corporate event, while also incorporating sustainability and social responsibility principles? In this article, we'll share some tips and a template to help you plan, track, and manage your corporate event budget with confidence and purpose.

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Rebecca ?? Leppard

?? Personal Branding Doula ?? Public Speaker | Follow for marketing, entrepreneurship content (memes guaranteed)
??Meredith O.

Programme Director @ CISL | Online Executive Education | Sustainable Business | Sustainable Marketing | Commercial…

1 Define your goals and scope

Before you start crunching the numbers, you need to have a clear vision of what you want to achieve with your corporate event, and what resources and activities are required to make it happen. Start by defining your event goals, such as increasing brand awareness, generating leads, or rewarding employees. Then, outline the scope of your event, such as the date, location, duration, format, theme, audience, and agenda. This will help you identify the key elements and expenses of your event, and prioritize them according to your goals.

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2 Use a template and a tool

One of the best ways to create and manage your corporate event budget is to use a template and a tool that can help you organize, track, and update your income and expenses. A template can provide you with a standard format and categories for your budget, such as venue, catering, entertainment, marketing, and contingency. A tool can help you automate calculations, monitor progress, and generate reports. You can use a spreadsheet, a software, or an online platform, depending on your preference and needs. You can also customize your template and tool to suit your specific event and goals.

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Rebecca ?? Leppard

?? Personal Branding Doula ?? Public Speaker | Follow for marketing, entrepreneurship content (memes guaranteed)
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In my experience at Hotel Indonesia Kempinski, we automatically bill a small donation of USD1 per night stay in the guest tab. Because the default is to donate, guests tend to agree and proceed with the transaction. They are fully informed and free to opt out of course. But it's human psychology to go with the default. During my tenure, we managed to build 13 houses with Habitat for Humanity just from those small donations alone. Automation works: my colleagues at the front desk and accounting departments are happy, our charity partner is happy and more importantly, we created a positive social impact!

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3 Incorporate sustainability and social responsibility

Incorporating sustainability and social responsibility into your corporate event budget can reduce your environmental impact, support your community, and enhance your reputation. Consider choosing a green venue with eco-friendly practices and certifications, such as energy efficiency, waste management, and water conservation. Opt for local and organic catering that uses seasonal and fair-trade ingredients, and minimizes packaging and food waste. Hire local and diverse suppliers and vendors that share your values and contribute to the social and economic development of your area. Promote your event through digital and social media channels, and avoid printing and distributing paper materials. Encourage your attendees to use public or shared transportation, or provide them with shuttle or bike services. Donate or recycle any leftover materials, food, or equipment after your event, or partner with a charity or a social enterprise that can benefit from them.

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Paul Gittins

Biopharma business strategy and external affairs leader
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Corporate purpose has to be connected to the core of your business for it to be authentic. If sustainability and social responsibility is embedded at every level of the business then this will automatically be reflected in your corporate events anyway, from the choice of location, venue and catering to the focus and aims of the event itself. If that is not the case, and a business is not already operating according to these core principles, trying to shoehorn them in for an event will not be seen as credible by stakeholders and may lead to closer scrutiny of your sustainability credentials in general.

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4 Review and adjust your budget regularly

Your corporate event budget is not a static document, but a dynamic and flexible tool that needs to be reviewed and adjusted regularly. As you plan and execute your event, you may encounter changes, challenges, or opportunities that affect your budget. For example, you may find a better deal for a venue, face a cancellation from a speaker, or receive a sponsorship offer. To keep your budget accurate and realistic, you need to update it with any new information, income, or expenses, and compare it with your initial projections and goals. You also need to communicate any changes or issues with your team, stakeholders, and vendors, and seek their feedback and support.

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5 Evaluate your budget performance and outcomes

Once your event is complete, it’s important to evaluate your budget performance and outcomes, and measure your return on investment (ROI). This will help you assess how well you planned and managed your budget, and how effectively you achieved your event goals. To do this, you need to collect and analyze data and feedback from your budget tool, your team, your attendees, your vendors, and your stakeholders. Additionally, you should calculate your actual income and expenses, and compare them with your budgeted income and expenses. Furthermore, you should calculate your ROI by dividing your net income (income minus expenses) by your total expenses, and multiplying by 100 to get a percentage. It’s also important to identify your strengths and weaknesses, and highlight your successes and challenges. Finally, document your learnings and best practices, and share them with your team and stakeholders. Celebrate your achievements and thank everyone who contributed to your event.

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??Meredith O.

Programme Director @ CISL | Online Executive Education | Sustainable Business | Sustainable Marketing | Commercial Leader | Systems change for the good of People, Nature, and Climate
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Start by asking "why, how, and what can make my corporate event sustainable AND within budget"? Using this tried and tested framework will help you: 1. Make more sustainable choices in every event decision 2. Establish a repeatable and memorable 'signature style' for corporate events 3. Inform activations that engage stakeholders in the broader mission. For example, your 'why' might tie to a corporate goal such as being Net Zero by 2030. The 'how' might be for every corporate event to be Net Zero. The 'what' will play out in every event detail and vendors choice. For every unsustainable event choice there is a sustainable alternative. Choice of venue, accommodation, travel, catering, swag, installations, collateral...the list goes on!

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How do you incorporate sustainability and social responsibility into your corporate event budget?

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3

4

5

1 Define your goals and scope

2 Use a template and a tool

3 Incorporate sustainability and social responsibility

4 Review and adjust your budget regularly

5 Evaluate your budget performance and outcomes

Corporate Communications

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How do you incorporate sustainability and social responsibility into your corporate event budget?

1

2

3

4

5

1 Define your goals and scope

2 Use a template and a tool

3 Incorporate sustainability and social responsibility

4 Review and adjust your budget regularly

5 Evaluate your budget performance and outcomes

Corporate Communications

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