1. A data processing system for running a plurality of business function applications, the system including: An event manager module configured at least to receive a plurality of events and in response thereto manage the invoking of a plurality of different service utilities, the event manager module including a property identifier module which operates to identify resources available to a processor in which the event manager module is instantiated and a container component which operates to store a plurality of instructions identifying a plurality of different event handlers which are to be utilized to invoke the plurality of different service utilities; wherein a business function application of the plurality of business function applications includes a plurality of different service elements, and each of these service elements has a corresponding service utility selected from the first plurality of different service utilities; wherein the event manager module includes a plurality of different event templates and a first plurality of sensor objects distinct from the plurality of different event templates, each of the plurality of different event templates corresponding to extensible markup language specifying at least (i) an identifier of an event to which the event template corresponds and (ii) an identifier of an event handler of a plurality of event handlers used to handle the event to which the event template corresponds, wherein an event template is provided for each of the plurality of different service elements, wherein each sensor object is configured at least to sense a triggering event and to identify a corresponding event template for the event manager to invoke, and wherein at least a first event template of the plurality of different event templates has extensible markup language further specifying a dependency condition including one or more identifiers of one or more events other than the event identified by the first event template that must occur before invoking the service utility that corresponds to the template's service element with the event handler identified by the first event template; wherein the first event manager module operates its sensor objects to identify an event template for each received triggering event and initiates the operation of a service utility for the service element of each event template identified by the sensor objects, and wherein the first event manager waits for the one or more events specified in the first event template's dependency condition to occur before initiating the operation of a service utility for the service element of the first event template with the event handler identified by the first event template; and wherein a plurality of the plurality of different event templates are configured to at least partially implement the business function application, wherein a first such event template is triggered by a first event and responsively initiates (i) operation of the business function application and (ii) generation of at least a second asynchronous event, wherein a second such event template is triggered by the second asynchronous event and responsively initiates a task that results in the generation of at least a third asynchronous event, and wherein a third such event template is triggered by the third asynchronous event and responsively initiates a task different from the task performed by the second such event template.