Corporate Events Management

This document provides an introduction to corporate events management, including types of corporate events, their strategic goals, feasibility study, and planning and promotion of corporate events. It discusses the importance of feasibility study and provides a plan for a corporate event. The document is suitable for students studying corporate events management or professionals working in event management companies.

CORPORATE EVENTS
MANAGEMENT

Contents
INTRODUCTION...........................................................................................................................1
Types of corporate event........................................................................................................1
Leisure v/s corporate event.....................................................................................................2
Corporate events meet strategic goal......................................................................................3
Success of corporate events to achieve goal...........................................................................3
Criteria for identification of potential audience.....................................................................3
Elements of feasibility study..................................................................................................5
Importance of feasibility study...............................................................................................5
Plan for corporate event..........................................................................................................6
Promotion and planning of event...........................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The corporate events are those special gatherings of professional people, who come
together at a particular venue and on a particular time. These events are organised with a view to
attain some objective (Cagliano, Grimaldi and Rafele, 2015). The corporate events are organised
with the format and planning to involve certain factors such as formal communicative meeting,
brand endorsement, staff addressing etc. The project on the corporate event management is based
on the well renowned event planning firm, Bespoke Events. This company operates its business
within London and its suburbs. The organisation has an experience of last 25 years. The
company generally plans event for entertainment, media, automotive, fashion, retail and finance
sector these events goes from a low level to high range of capacity of hosting the event. The
discussion on the different range of corporate events is covered. The types of corporate event,
their criteria of organising, key factors of feasibility are also discussed. In the last segment of the
report, the plan for corporate decision is processed in order to execute a corporate event.
Types of corporate event
The corporate based events significantly includes the set of functions that involves the
value and formal security that are organised in the professional work groups, institution,
industry and so on. The different types of corporate events are organised for attaining different
purpose of respective company these types of events are elaborated here as follows:-
Sales meeting: These events are generally held in the organisation at a regular interval of
time. The main reason behind organising a sales meeting is to address each and every individual
that is an integral part of the sales process (Bakke and et. al., 2016). The members of firm,
distributors, wholesalers, renowned retailers, sales team and the existing as well as the potential
consumers are the elements of the sales meeting. The actual purpose of meeting determines the
size of the meeting and by the size of meeting the guests and members are invited. The event
management staff of Bespoke Event London can use the alternates of entraining the staff
members in a sales meeting as this will help in keeping their minds afresh and innovative that
helps to increase the productivity level.
Exhibition: These are essentially the public exhibitions which are attended by an
association as a leads generating action. Such kind of corporate occasion provides assistance to a
business firm in redesigning their image in market as a pioneer before rivals. The major role of
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event supervisory crew of Bespoke Event London incorporate sponsorship rates for publicizing
about the purpose of the corporate event (Getz, 2018). Additionally, they have to render corner
space and stage services with the goal that pioneer of an organization can demonstrate their
business activities to the participants in a legitimate way.
Product launch: In this sort of business occasions, a new organisational offering is
launched at market place on a wide scale. Hereby, the host of the occasion shares objective
associated with new product within the gathering of investors and partners. Representatives in
Bespoke Event London can utilize AR with an aim of upgrading the experience of individuals
going to the concerned occasion.
Leisure v/s corporate event
Corporate and leisure events are the 2 main types of events that take place within the
confines of event sector (Austin and Pinkleton, 2015). The differences that prevail between both
these types of events are given underneath:-
Leisure event Corporate event
 This is a category of events which
encompass administration of occasions
such as recreation, concert, circus,
entertainment, sports ground and many
more.
 This category of events consists of
commercial events as well as charity
occasions.
 Their main purpose is provision of
entertainment for audience.
 Their main purpose is promotion of a
product, facility, charitable cause and
so on.
 Enthusiastic workforce is hired for
developing leisure events as they are able
to effectively engage the audience.
 Skilled and experienced individuals
are hired which can organize a
professional event in an effective
manner.
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Corporate events meet strategic goal
A number of corporate events take place in the organisational context. Thus each and
every corporate event is aligned with some benefit of the business or to handle the competitive
rivalry that gets arose by the effective market capturing of the firm.
Seminars: Hereby, a fixed segment of people are targeted with a view to spread the
information associated with the business. Such events are small in scale as compared to
conference and encompass one session which gets completed in a day (Veal and Burton, 2015).
The main purpose of organizing seminar is to provide training to employees as well as managers
such that they can learn new ideas and concepts linked to the organisation.
Conference: This is regarded to be a networking event wherein professionals functioning
within the confines of same industry are given the chance to meet and learn from each other. The
main purpose of organizing conference is to accumulate a wide audience at one location so that
potential ideas can be discussed and one solution can be agreed upon.
Trade Shows or Expo: These are considered as large scale events whereby vendors or
exhibitors are represented by or at the expo. Companies may choose to attend trade shows as
exhibitors in an effort to reach potential customers, other members of the industry, or to source
and connect with suppliers. The entities which conduct the trade show do this in order to
establish their effective image within the industry by leaving a good impression over the
attendants of the corporate event.
Success of corporate events to achieve goal
Seminars, Conference and Executive retreats are the different types of corporate events
that are organised by event management companies. These events are launched with a specific
motive related to the business of the client. When the corporate event of any type is successfully
organized and executed, it results in the achievement of strategic goals and objectives of the
business entity.
Criteria for identification of potential audience
Bespoke Event London has gained the opportunity of organizing an event for Foodie
Flavour, a new restaurant running within the confines of London. Presently, the eatery is running
on small level but the entrepreneur is intending to carry out expansion of food and beverage
menu such that large number of individuals can be significantly appealed and retained for a long
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period of time. This will provide assistance to the enterprise to inflate its existent level of
revenues as well as profits.
The current corporate event is associated with launch of new products which would be
new drinks and dishes in order to gain the attention of people. In case the gathering of people in
the corporate event is high, it would provide assistance to Foodie Flavour to earn extensive
revenue in the long run. In order to effectively execute organization of this event, the
management of Bespoke Events London needs to determine the probable guests for the
respective corporate event. The failure to target the right audience for the upcoming product
launch event would result in decline in goodwill of the company. In this regard, there are certain
criteria which need to be taken into due consideration while determining the target audience.
These are explained as under:-
Income and purchasing power:
The main criterion for selection of right set of guests for the event of new product launch
is ascertained to be income as well as their ability to incur amount on purchase of food and
beverage items. In accordance with both, the right audience would be the individuals who
possess the ability to purchase the items sold by Foodie Flavour for a long period of time in
future context.
Interest in Junk Food and drinks:
This is yet another criterion which will be taken into account by the event manager while
identifying the potential audience for upcoming corporate event of Foodie Flavours. With the
assistance of Artificial Intelligence, behavioural and purchase pattern of consumers of restaurant
business can be effectively determined. This provides assistance in identifying and tapping those
individuals who are likely to stay connected with Foodie Flavours for a long period of time after
consuming the new product line. Hereby, mainly those individuals would be targeted who
possess likelihood towards junk food as well as drinks.
Location of restaurant:
It is usually seen that the most likely persons to visit the restaurant on a regular basis are
those who live nearby the outlet. In this relation, it is identified that event manager would be
targeting people who live in a range of 5 kilometres from the restaurant as they are capable of
visiting Foodie Flavour on a constant basis. This will provide such customers with the
opportunity to try the new food and beverage items launched by the eatery.
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Elements of feasibility study
The key elements of feasibility study for this corporate event are discussed as follows:-
Risk feasibility: Hereby, the event manager is required to undergo a study of all the
probable risks that can take place within the new product launch event of Foodie Flavours. The
main aim of the event management company would be to make sure that the arrangements are
made in a manner such that there is no risk of injury to anyone, damage to property or
occurrence of any unexpected circumstance.
Time feasibility: This element is concerned with the execution of feasibility study to
examine the time required to formulate all the activities of the new product launch event. In this
relation, the aim of Bespoke Events London would be to make sure that there is adequate time
available with the event manager to conduct the activities associated with preparing, managing
and organizing the corporate event for Foodies Flavours.
Funding feasibility: This element is associated with the study of availability of financial
resources with the event manager to organize and manage a corporate event as per the
expectations and requirements of Foodie Flavours. In this relation, a budget needs to be prepared
by Bespoke Events London with a view to assign the available funds to different types of
activities associated with organization of new product launch event.
Staffing feasibility: This element is associated with execution of study to evaluate the
requirement of staff for arranging and organizing the new product launch event of Foodie
Flavours. In this relation, the requirement of Bespoke Events London is to have enough staffing
to execute all the activities linked to the corporate event of Foodie Flavours. Further, training
needs to be provided to event staff so that they can execute work as per the expectations and
requirements of the client.
Importance of feasibility study
Feasibility study is generally conducted with a view to evaluate the current operational
modes and the various alternatives available in order to decide the most suitable course of action.
Hereby, feasibility study is conducted for the corporate event being organised by Bespoke Events
London for the new product launch of Foodie Flavours. The study provides assistance in
identifying risks of finance, time and staff which affect the delivery of product launch event.
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Plan for corporate event
Bespoke Event London is organizing the new product launch event for Foodie Flavours.
For this purpose, the concerned event manager needs to devise an effective plan through which
the timely and systematic execution of event activities and practices can be ensured. Promotion
and planning are key elements of this plan. These need to be taken into due consideration to
ensure the success of corporate event. The numerous elements of this corporate event are thus
mentioned underneath:-
Conceptualisation of theme:
The event manager needs to select a special theme which would provide assistance to the
entity in gaining the attention of large base of audience. The theme of the product launch event is
“Eat and Repeat”. This theme will be able to gain the attention of large number of individuals
towards the new product range of Foodie Flavours.
Set preliminary budget:
This element of the event plan is associated with development of a preliminary budget
which would be needed to take up all the expenses related with new product launch event. For
the event of Foodie Flavours, the budget of 2000 Pounds is decided.
Make appointments with vendors and owner of venue:
Hereby, the event manager enter into contracts with venue owner and vendor for
effectively organizing the corporate event of Foodie Flavours. For this purpose, the event
manager is required to organise meetings with the parties and thereby, discuss the terms and
conditions related to the new product launch event.
Determine right service for potential guests:
Identification of the right set of services to be provided to the guests who would be
attending the event is essential for the concerned event manager. In case the guests are not
content with the services provided to them, it would have a negative impact over the
consumption pattern of new products launched by Foodie Flavours in the corporate event.
Following are some of the principles of promotion as well as planning that must be taken
into account by Bespoke Events London so as to organize the event without any kind of
loophole:-
Principles of planning
 Event manager is required to plan all activities of event in detailed manner.
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 Event team must have some basic information about their targeted audience.
 Manager is needed to assure all activities are taking efficiently.
Principle of promotion
 Event manager must target loyal customers to increase repeated system.
 Social media and online resources must be used for promotion of event.
Promotion and planning of event
Promotion and planning are regarded to be two important elements of a corporate event.
In this relation, it is identified that the respective event management firm would apply the
promotional and planning processes to ensure effective execution of new product launch event of
Foodie Flavours. This is explained as underneath:-
Planning
Detailed planning: This is concerned with stipulation of effective plans for the purpose
of effectively executing the corporate event. Appropriate planning would ensure that the event
does not have to undergo any contingencies. This will inflate the probability of success of the
event.
Information of the audience: This is concerned with gaining proper knowledge of the
potential guests for the corporate event. In an instance whereby Bespoke Events London will not
have comprehensible knowledge of the audience which would attend the event, the event
manager would not be able to satisfy the guests.
Trust but verify: The event manager of Bespoke Events London needs to place
significant trust within the team members in relation to the organization and execution of the
concerned corporate event. The event manager needs to execute verification of this progress on a
constant basis. In case of failure, contingent situation would arise which would imply adverse
situations for new product launch event of Foodie Flavours.
Promotion
Strive for repeat business: This is the main principle linked with promotion of product
launch event. Event manager in Bespoke Event London is needed to revise the sales of Foodie
Flavour so that their regular customers can be identified. Rather than creating new customers,
retaining the previous ones are more beneficial. In this context, for loyal customers of restaurant,
event manager has asked business owner to give special discount as their promotional strategy.
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Use online resources and include social media actions: Event manager has created an
event at social sites such as Facebook, Twitter and Instagram in which all the information about
upcoming event are mentioned. Due to the vastness of social media, maximum people in London
will be able to acknowledge about the business expansion of Foodie Flavour and may come to
event.
CONCLUSION
On the basis of above discussion, it can be said that there are various types of corporate
events that are organized by event management companies. These are identified to be
conference, farewell party, team dinner, exhibition, trade show, incentive program. Further, it
has been ascertained that corporate events are related to business entities and their functioning
while leisure events are held for the purpose of entertainment and fun. There are several criteria
in accordance with which target audience is selected for a corporate event. Such criteria can be
identified to be income of people, location of eatery and interest of individuals in junk food and
beverages. The execution of feasibility study has demonstrated that the main risks linked to the
project of new product launch are lack of financial resources and lack of interest of individuals
within products of restaurant.
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REFERENCES
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managing effective communication campaigns. Routledge.
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Getz, D., 2018. Event evaluation: theory and methods for event management and tourism.
Goodfellow Publishers Limited.
Jones, M. L., 2017. Sustainable event management: A practical guide. Routledge.
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responsibility, corporate social irresponsibility, and firm performance. Journal of
Marketing. 80(2). pp.59-79.
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refractory multiple myeloma taking pomalidomide plus low‐dose dexamethasone: A
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Olson, E. D. and Brown, E., 2018. Perceptions of students in an event management program of
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Tourism Education. 30(2). pp.118-126.
Raj, R., Walters, P. and Rashid, T., 2017. Events management: principles and practice. Sage.
Veal, A. J. and Burton, C., 2015. Research methods for arts and event management.
Wang, H. and et. al., 2016. Corporate social responsibility: An overview and new research
directions: Thematic issue on corporate social responsibility.
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