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Events financial Management Assignment PDF

   

Added on  2021-04-16

14 Pages3491 Words75 Views
Leadership Management
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Running head: EVENTS FINANCIAL MANAGEMENTEvents Financial ManagementUniversity NameStudent NameAuthors’ Note
Events financial Management Assignment PDF_1

2EVENTS FINANCIAL MANAGEMENTTable of ContentsIntroduction................................................................................................................................2Results of any market research about the commercial viability of similar events.....................3Critical analysis of alternative sources of finance to fund the event..........................................3Analysis of main purposes of financial management within events industry............................4Critical analysis of CVP analysis...............................................................................................7Recommendations......................................................................................................................9Conclusion................................................................................................................................11References:...............................................................................................................................12
Events financial Management Assignment PDF_2

3EVENTS FINANCIAL MANAGEMENTIntroduction The current critically analyses event management with special reference to the operations ofthe firm Oxygen Event Services Ltd. This indicates towards application of particularlyproject management of the firm to the process of creation as well as development of diverselarge scale events. The firm Oxygen Event Services Ltd is an expert in the field of technicalproduction, logistical management along with conceptual design. The company is a highlycreative corporation that has the intention to distribute cutting edge, innovative eventsaccounts across different disciplines in which the company specialises, particularly in thesection of corporate, private, logistics as well as design. Essentially, this study presentsanalysis of financial aspects and financial management within the events segment withemphasis on pertinent pricing stratagems, critical evaluation of CVP analysis illustrating thecapability to enumerate the total number of customers for break even. Moving further, thisstudy also presents suggestions of the most suitable sources of funds and pricing strategies ofthe particular strategies. Thereafter, the current study presents a conclusive statementregarding the probable outcomes of the proposed idea of expansion strategy of the businessby introduction of new product that means organizing different events across Londonthroughout the year. Results of any market research about the commercial viability of similar events Market Research can help in analysing whether the strategic decision of expansion ofbusiness of Oxygen Event Services Ltd is feasible. Detailed research about the market canhelp in dealing with a wide range of consumers and delves deep into the process of researchof new product as well as distribution mechanisms. The study at hand can undertake marketresearch for the purpose of defining the creative idea of expansion of business in London,analysis of methods of collection of data along with needs (Moutinho and Vargas-Sanchez
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4EVENTS FINANCIAL MANAGEMENT2018). In addition to this, conduction of market research can help in the process of enhancingthe branding of the firm by exploring awareness regarding the brand, competitivecomparisons along with characterization. In addition to this, the company intends to presentthe best strategy for expansion of business by means of expansion of sales of the company inthe subsisting market. Essentially, the management of the company intends to undertake thisoperation by means of simple and straightforward way by influencing an expansion ofexisting customer research. However, by means of knowing the target customers in a bettermanner, it is possible to reach the target market in a better way to a larger group consisting ofthe same individuals. For the present case, the management of the firm might considerexpansion of business by incorporating the event of organizing sports events (Finkler et al.2016). There are certain important facts that can be known regarding the events industry inparticularly the UK. Market research shows that this industry is worth around £42.3 billion,attendees spend roughly £65 yearly for registration and around UK event agencies turnover isover and above £ 3.5 billion. Again, there are more than 85 million event attendeesCritical analysis of alternative sources of finance to fund the event Critical evaluation of alternative sources of funds that is looked-for for the event of expansionof the business includes:Working closely with the financiers: Depending on the business size of the business along with scope of plans of expansion, itmight be feasible to select to look for venture capital funding, or working with a private orelse angel financiers to fund the process of business expansion. Financiers can be highlyadvantageous to increasing business of Oxygen Event Services Ltd as they present insights aswell as experience regarding expansion plan of the business. Nevertheless, working withfinanciers does not imply sacrificing equity in the business and the financier might possibly
Events financial Management Assignment PDF_4

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