Introduction To Event Management Company Management Essay

This is the project of business management. The subject aim for the management in the business. Manager is someone who coordinates and oversees the wok of other employees so that business goals could be completed. Management consists of coordinating and overseeing the task activities are completed effectively and effectively.

A good director will do planning, leading, controlling, and organizing in order the help business to achieve the goal.

The whole of business management is the study of organizational culture and environment, handling in global environment, CSR and managerial ethics, managers as decision makers, organizational composition and design, controlling human resources, managing teams taking care of change and invention, communication, understanding specific behaviour, and the PLOC.

In this task, student must assume himself turn into a manager of new event management company and indentify the form of organization structure out. In addition to justify the new company's composition. After the process one, student must interview at least two small-to-medium local businesses and indentify the type of the business with the SWOT analysis.

2. 0 Intro to Event Management Company

The company of events could very well be the primary activity of sport and entertainment organizations. Workers in the sport and entertainment industry, salaried and voluntary, are essentially organizers of people whether they are event directors, instructors, referees, teachers or center supervisors. This group of folks is manifest by what we see and call an "event". The word "event" in the sport and entertainment industry usually refers to a situation where members, facilities, equipment and other resources are coordinated to allow a kind of sport or recreation to occur.

2. 1 Framework of Event Management Company

The "event" work involved in planning, managing and conducting a significant event can be sufficiently great to require the recruitment of a sizable team of individuals. Participants of the team may be engaged over a full-time, part-time, company, informal and voluntary basis. At the head of the team is the Event Director whose job it is to keep everyone working along for a considerable period of time.

The organization structure chart below is the example which implies the magnitude and variety of the team needed to run a major sporting event like a Point out Championships.

In addition, smaller happenings will obviously require a much smaller team, and people in the team might be able to take on several role.

Event Director

Program

Coordinator

Venue Coordinator

Equipment

Coordinator

Promotions Coordinator

Hospitality Coordinator

Merchandising Coordinator

As the chart demonstrates the event management company is type of departmentalization, each coordinator considers as "one office" and works with the own functions.

The reason of why put the term coordinator to replace department is because of that the coordinator as exceptionally important people in the event management team, they should be indentified and recruited as soon as possible. Coordinator should be a part of the managing committee and collectively they'll share in decision making techniques with the function director.

2. 2 Functions of each coordinator in the event management company

Event Director, Handling an event is like managing a business, and like all businesses there needs to be someone who is the ultimate decision maker. In the case of an event, the ultimate executive expert is usually known as the "Event Director". The role is intricate and demanding even though incidents are small-scale. The principal role of the function Director is to arrange and mobilize substantial human resources such as members, officials, administrators and helpers. They can be a center point for communication, internally and externally, and have to be contactable in and out of office time.

Managing people can be considered a burdensome responsibility which is important that anyone undertaking the role of Event Director gets the capabilities and personality to offer effectively with people in often-difficult circumstances. Event Director also do selection in choose the following coordinator for the whole events.

The major Responsibilities of the Event Director are: recruit and convene a bet committee, recruit and convene an managing committee, plan and oversee the recruitment and training of all human resources required to organize and perform the event, develop an event management plan, signify the function in dealings with outdoors parties, develop procedures and keep an eye on the improvement of the look and group of event tasks.

Program coordinator (office), the individual who in charge of the plan of activities from the start of the function to its realization. E. g. sport event, Program coordinator governs which opponents participate at what time. For any conference, this program coordinator stipulates the changing times of lectures and workshops, what matters are offered and who's presenting. If the event is the annual awards dinner, this program coordinator pieces out what time people should appear, what time each course will be offered and the changing times that each prize ceremony will need place. THIS PROGRAM coordinator is therefore possibly the central organizing component of the function.

Keeping to times as advertised on this program is an integral performance solution from the standpoint of the participant's satisfaction. A meeting that fails to operate on time will inevitably cause complaints from members and frustration for all persons. People can be very adversely afflicted if the event runs overtime and definitely commencing prior to the advertised time is unquestionably not at all something to ever before contemplate.

The important factors to consider in preparing the official program are:

Consultation with all get-togethers directly involved in the program

Calculating the time of the activity

Ensuring that this program has time for "ceremonial" activities e. g. beginning and/or shutting ceremonies, speeches, the display of awards, entertainment

Ensuring that the venue is designed for the full length of time of the event

Choosing the time(s) so the event does not clash with other major events

Allowing for a little "slack" time between activities

The order of activities

How the printed program will be published

Venue coordinator (department), the person who in charge the location of event, the coordinator goes through the venue selecting process which is:

Analyze the event's dependence on a place, to question out does the function needs an indoor or outdoor location; What audience capacity will the function require; Just how long does the function need the venue for, including setup and takedown; Is it necessary to select a venue with good community transport access, etc.

Investigate possible location, in a huge metropolitan area there may be a great variety of venues from which to choose. However, beyond the metropolitan areas choice may be extremely limited. Therefore, Location coordinator must do research for the suitable venue which suit the order.

In addition, Place coordinator must acquire all information, even subjective feedback, found therefore of researching locations should be maintained for future use meaning Venue coordinator should create their own databases.

Make site sessions, once some possible venues have been determined, it is important to produce a site visit. Location staffs are usually only too pleased to show potential customer's around. The reason a niche site visit is to determine the suitability (Measurements, Environment, Facilities, Position, and Cost) of the location.

Agree on price and terms, once Place coordinator has recognized some possibly ideal venues, his/her next step is to enter into negotiations with location managers to get the best possible deal that he/she can. Although venue professionals will have standard prices the Venue coordinator shouldn't think there is no chance of bargaining the purchase price down, or otherwise, bargaining for extra services like extra facilities or security.

Make a reservation and confirmation, when Location coordinator has selected which venue is the greatest for the function; it's time to make a reservation.

After Place coordinator has agreed upon and returned the contract together with a cheque first deposit or other kind of payment, he/she shouldn't expect that the reservation is safe and just forget about it before last week before the event.

It is really worth the Venue coordinator while to keep lines of communication open with the venue manager and also to keep verifying that you arranging is safe.

Make further site trips, the purpose of making further site sessions is to make sure the Place coordinator' self applied that nothing at all has modified, or at least that any changes that occur won't affect the event. Changes that may occur include lighting, fittings removed, equipment and decoration. It is useful also to plan the function.

Equipment coordinator (section), the person who in control with the gear for the event, the category of equipment includes: audio systems for announcing, two-way radios, intercoms and mobile telephones for communication, camcorders and sealed circuit television set, sirens and alarms systems, ropes and barriers to regulate spectators, scoreboards timing equipment, computers, and medical equipment.

Equipment must be budgeted and this information has great importance in creating the overall event budget. Any probability of cost over-runs must be notified to the function director at the initial.

Promotion coordinator (office), promotion is an integral element in the success of a particular event nowadays. The primary purpose that advertising serves is to get members, spectators or both to the function.

Promotion is also important to the sponsor, if one is accessible. The aim of the sponsor is to accomplish as much subjection with their name, logo and other properties as you possibly can. Sponsors therefore have an enthusiastic fascination with pre-event campaign and in the promotion that can be achieved on your day through erecting signage and product exhibits in view of most participants.

Achieving an attendance goal is not only good for the atmosphere of the tournament but and yes it is often a critical component that establishes the event's financial success. Event organizers require income earned from spectator attendance or members fees to cover costs of the function. Any shortfall in expected earnings can have a disastrous influence on organizations that stage special situations.

Promotion is an integral final result area in event management and therefore is worth adequate human and financial resources. A good promotion coordinator can use the approaches for promoting occasions like: social advertising, advertising online/offline, Free promotion via television set, radio or print media, Promotional events before the main event and Signage & banners.

Hospitality coordinator (team), the person who oversee the function from the point of view that participant/spectator perspective. The word "Hospitality" is usually a term used to infer food and beverages dished up. However Collins dictionary defines "hospitable" to be welcoming guests and strangers. For example: the Seating of event, Food and refreshment, A reception area for dignitaries and other important employees, Information stands manned by event personnel, Good standard of toilets, wash rooms and baby change areas for public, Good standard change facilities, Facilities for people with a disability, Giveaways and blessed door awards, Special services for competitors such as masseurs, lockers Guidelines to venue on site, Assistance with car parking, Good general population announcement system, and the End of event function.

Merchandising coordinator (section), the individual who in control with the promotional products for event. Selling promotional products (merchandising) is not really a necessary component of event management but it can truly add to the prospect of ongoing marketing of the event in future years.

Merchandising coordinator and the staffs may sell the merchandise during or after the event like: Gifts, Clothing, Badges, Equipment, Program, Mags, Books, Memorabilia, and Food. The purpose of selling such products is primarily to boost event revenue and increase income. However there's also substantial promotional advantages. T-shirts that have been screen-printed with a structure to commemorate the function is a common form of promotion, and the one that has a lasting result. Such clothing really helps to promote the event, the host group, the sponsor and/or the sport/activity generally.

As a Merchandising planner, he/she may need to get the following tasks prior to the event started out, those jobs includes: selecting products, negotiating with suppliers, receiving and guaranteeing security of stock, recruiting and training a sales team, establishing a sales stand, payment of suppliers, cash management and producing financial information.

Therefore, this is form of the function management company's framework, with the above explanation; each and every department and its coordinator's job are explained in details and with the relevant samples.

Introduction to SWOT analysis

SWOT Analysis is a powerful tool for considering an organization's business nature. It really is an acronym for Talents, Weaknesses, Opportunities and Hazards. The goal of SWOT is to look at internal - Strengths & Weaknesses and exterior - Opportunities and Risks elements of a business.

The aspect of strengths could be staff, customer platform, market position, money, products/ services, profitable, and growing; weakness could be personnel, profit margins too low, market position, money, competitive vulnerability, lack of new products/ services and sales stations; opportunities may be the new complimentary market, proper alliance as financing sales products/ services, merger acquisition, market poised for growth and competition weaknesses; threat could be overall economy, lose of key personnel, lack of financial resources, cashflow, new technology, increased competition, new federal government regulations, slipping seals and reducing profits.

3. 1 Interview questionnaire

By interviewing the owner of the Pick out and Go convenient store and Save Way little market, student completed the following 20 question base on the SWOT evaluation in help of identify the business nature of the 2 company. This two companies allocated in the student's housing area, with the similar business characteristics, both of these companies will be the only competitor to one another in the area, therefore scholar choose them to be the interview targets. The below are the questions which general into 4 categories with:

Strength:

what is your business's proposition and advantages?

What unique resources do you have?

What differentiates you from your competitors?

Do you have hugely talented people on your staff?

Do you have a wide customer platform?

Weaknesses

what negatives of your business's proposition?

What can your business be superior?

In what areas do your competitors have the edge?

What necessary skills / manpower would you currently lack?

Do you have cash flow problems?

Opportunities

What trends will you see in your business?

What trends can you foresee?

What movements might impact your business?

What exterior changes present interesting opportunities?

What have you seen in the news headlines recently that might present a chance?

Threats

What obstacles do you really face?

What is the competition doing that you're not?

What is your insurmountable weaknesses?

Do you facing any environmental results?

Do you facing the seasonality, weather results?

3. 2 Answers and Examination for questionnaire from Find and Go convenient store

Mr Ethan Hong, the Find and Go convenient store's owner, was answer the questionnaire with the next answer:

Strength: the proposition of Get and Go is just like its titles, business aim for make consumer spend cash in the store with fast and effective, as well as the convenient sense; Get and Go was just used the BSN bank payment belongings to the shop, it could be the unique resources. BSN standard bank payment belongings help consumer to pay their bills in the store alternatively than go to the specific company or post-office make the obligations; the differentiates that Go with and Go has compare with their rival Save Way mini market is that there is printing machine available in the Pick and choose and Go convenient store; Go with and Go's staff is aware at least 3 vocabulary (Mandarin, English, Cantonese, and Bahasa Malayu) to serve consumers, thus, it has a outrageous range consumers.

Weaknesses: the downside of Pick out and Go business's proposition is the fact their products' price are somewhat higher; Mr Ethan Hong thinks that the shop must be improve on the merchandise types of Daily requirements; in the area of kitchenware and food could be a weakness to choose and Go because of the acreage of shop is give up small, in addition, due to the acreage reason, Pick and choose and Go has only 1 cashier as the personnel to work only everyday and perform several role of jobs, such as stock son, cleaner, etc; but business has no cashflow problems.

Opportunities, Pick and choose and Go's business trend is that working with flexibility and freedom, Mr Ethan Hong allow employee pay attention music during working and also give personnel discount for some products to the personnel when she/he buying goods in the retailers, Mr Ethan Hong foresees the development to be empowerment in the future, this means allow staff making discount decision while he is not around, and the as ask the staff to join the promotion project ( means when shop transfer some product, if worker markets out several among, she/he will get rewards )for a few products; because of the location of the shop and the region population, Go with and Go will not impacted by any developments or external changes so far.

Threats, regarding to Mr Ethan Hong's answer for the business's threat, Pick and go is facing the challenge of worker turnover, and the competitor Save Way is doing event sales to draw in consumers which Pick out and Go will not, the insurmountable weakness of Find and Go is its business is small-scale, during festivity season, security of the shop is a main menace, because of there is merely one staff member in the shop, it is not hard to cause robbery happen.

3. 3 Answers and Research for questionnaire from Save Way little market

Mrs Ling, the Save Way minuscule market's owner, was answer the questionnaire with the next answer:

Strength: the proposition of Save Way is merely like its labels, business shoot for the reduced price for the buyer, purchasing in Save Way to save lots of more is the proposition; the differentiates that Save Way has compare with their competitor Go with and Go is the fact that Save Way has the kitchenware and grocery store for consumers; and because of Save Way's shop acreage is leave bigger compare to choose and Go, it has a far more complete product.

Weaknesses: the disadvantage of Save Way's proposition is the fact product price is low, but shop acreage is big, it makes the income not very high; Mrs Ling thinks that the shop must be improve on the reduced amount of the cost of facilities; the one of the weaknesses could be that Pick out and Go followed the BSN system, it creates more consumer will go to Pick and Go somewhat than Save way.

Opportunities, Save Way's business tendency is the fact follow the rules and regulation, scheduled to most the employees are Indian, Mrs Ling pay the employees by the working hours, little market is working stable now, does not impacted by any styles or external changes up to now.

Threats, matching to Mrs Ling's answer for their danger, Save Way is facing the challenge with the new housing area was already built near to the shop area, there might be some other convenient store or mini market open in the future.

4. 0 Conclusion

This is the final bottom line for the task of business management, through the entire research and evaluation, student understood the composition of event management company and how it works, the role of each section/ coordinators are incredibly important to the business. Learner also deeply understand what is SWOT analysis and the way to use the examination in really life to make review. The web resources are helpful in complete this task also.

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