Range of different corporate focused events and their strategic goals

This report discusses the range of different corporate events such as trade shows, award ceremonies, launch events, and shareholders meetings. It also explores how these events meet different strategic goals and the criteria to identify potential audience for new corporate events.

Report

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Range of different corporate focused events.........................................................................1
P2 Compare and contract the difference between corporate and leisure events.........................2
TASK 2............................................................................................................................................3
P3 Range of different types of corporate events and access how they meet different strategic
focus and goal.............................................................................................................................3
TASK 3............................................................................................................................................5
P4 Different criteria to identify the potential audience for new corporate event.......................5
P5 Key elements of basic feasibility study for a corporate events..............................................6
TASK 4............................................................................................................................................7
P6 Plan for corporate event with applying planning and promotional principles.......................7
P7 Process implemented for planning and promotion of corporate event..................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Management of corporate events refers to the process through which planning, organising
of different official events is possible. There is requirement of proper analysing of consumer
requirement and demand through which satisfaction is possible. In corporate events, there are
different type of events such as conference, training, appraisal ceremony, retirement ceremony,
corporate dinners, etc. so there is difference in their demand as well. This report is based on
Banks Sadler Ltd. Which provides services for planning meeting (Austin and Pinkleton, 2015).
Management of organisation have to evaluate what type of resources are required and this makes
proper change in operations as well. In this report, there will be focus on comparison in leisure
and corporate events, different types of corporate events, importance of feasibility study for
proposed corporate events, process of planning and promoting a corporate event.
TASK 1
P1 Range of different corporate focused events
Corporate events are organised by organisation or head office of association in order to
motivate and promote workers. Sometimes corporate events are organised by association to
accomplish targets and goals set such as team building meeting, product launch, etc. Hence there
are different types of events which are organised under corporate structure, managers of Banks
Sadler Ltd. must analyse reason and provide facilities accordingly. Some events are discussed as
under-
Trade shows/ Exhibitions- There are many trade shows and exhibitions organised by
companies to increase their sales and increase availability for consumers. These are the events
which are organized for some days in case any organisation is launching event. In exhibitions,
many organisations have stall/ canopies where they outlay their product (Bakke and et. al.,
2016). In this event, there must be proper paring slots, lighting, stage and announcement facility
through which trade show become successful and client is satisfied with services offered by
Banks Sadler Ltd.
Award ceremony- There are award ceremony as well organised by many big
organisation. This event is organised once in year, so there must be availability of refreshments
or dinner. This is the event which is organised to motivate work force or any other party
associated with company. In award ceremony, managers of Banks Sadler Ltd. Can provide or ask
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for proper dinner for participants which can be optional but with it, there will be ease Banks
Sadler Ltd. in delivering better services.
Launch Events- Launch event is performed because association wants to launch some
product or service in public. In this event there are external parties as well who want to get
knowledge about it. Hence there is requirement of proper parking facility and large space is
required.
VIP events- VIP events are organised once in year or sometimes twice. When there is
proper understanding, then it will be easy for them to understand changes and take actions in
consideration to it. When some foreign delegates or stakeholders arrives then this event is
organised. In this event lavish services are required for providing satisfaction to them (Boateng
and Abdul-Hamid, 2017).
Shareholders meetings- There are some meetings such as Annual general meeting,
general meeting, extra ordinary general meeting, etc. which are organised for sharing
organisation's performance. In this case, there will requirement of refreshment and dinners as
well. Large space is required in such meetings because many people participate. Proper security
measures have to be planned.
Above mentioned are the some events organised under corporate events, but there is
difference in demand as per type of audience and tenure of organising events. Hence
management of Banks Sadler Ltd. must analyse it proper and provide best facilities.
P2 Compare and contract the difference between corporate and leisure events
Corporate events are organised for some official purpose and to communicate with stake
holders. This is the way through which operations are performed in better and effective manner
but this is done in official manner. While leisure activity are performed when people want to
utilise their free time. This is the time full of joy and main motive is to rest and relax.
With conducting both the events, there is ease in creating connection with the people. If
there is sometime new, then in both the events, it is easy to reveal in front of others (Cagliano,
Grimaldi and Rafele, 2015). There is easiness in taking feedbacks from people because all the
individuals have knowledge but there are possibilities of some difference in it. Reviews about
some specified services affects both leisure as well as corporate events because people analyse
feedback about it and then prefers to avail services.
Basis Corporate events Leisure events
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Purpose These are the occasions which
are conducted because of some
official reason such as product
launch, conferences, seminar,
etc.
While this event is organised
for the sake of refreshment and
enjoyment.
Variation in demands There is no scope of variation
in demand, because event is
organised due to some official
reason.
In these events, there is
difference in demand of
individuals because people
want to best use their free and
leisure time.
Price conscious In corporate events, people are
less price conscious because
they want determined services
for sake of their purpose (Getz,
2018).
While in this case, people are
price conscious because they
want full return of their money
invested.
Innovation In corporate events, client does
not ask for innovation in
services, but their purpose has
to be fulfilled.
While in leisure event,
innovative services are
required.
Hence it is clear that there is difference in demand of consumers as per their purpose of
conducting events, so management of Banks Sadler Ltd. have to analyse it. This is the way
through which operations are performed in better and effective manner. With proper
communication, it is easy to analyse what is their demand and provide them with best out of it.
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TASK 2
P3 Range of different types of corporate events and access how they meet different strategic
focus and goal
There are different events which are organised and planned by management of
organisation. There are specific reason behind them and management wants to fulfil it (Jones,
2017). There is proper understanding about motto, so accordingly services can be planned. For
building trust among client, it is essential for Banks Sadler Ltd. to determine reason behind
conduct it and accordingly services have to be provided. Some of the corporate events are
discussed as under with their goal to organise it.
Trade shows/ Exhibitions- Trade shows and exhibition are organised by corporate for the
purpose of delivering product and services at cheap rate and this makes availability of resources
under one roof. This ease in creating awareness among people regarding brands, hence there
must be banners, flaks, etc. which highlights the events organised and purpose behind it. When
there is proper communication among people regarding conducting event, then it is easy for them
to analyse what has to be done. There will use of appropriate and complete information. Proper
registration counter is required, large space with proper parking so people prefers to come and
visit exhibition.
Award ceremony- Award ceremony is conducted by organisation for motivating and
appreciating workers. There is requirement of proper analysis and understanding ways through
which operations are performed. Award ceremony is the way to gather all the workforce and
motivate them to give best. This is possible when proper sitting arrangement is conducted by
management of Banks Sadler Ltd. with proper security measures (Kang, Germann and Grewal,
2016).
Launch Events- There are events organised for launching of product or service which
assist in creating awareness among society about new product and service. When there is change
in working operations of association, then it is essential for managers to understand about
changes which are taking place, then in this case this will make ease in allotting and
understanding ways through which excitement can be created among people. In case of launch
event, there must be proper space of availing services or product for the purpose of trail. This
requires proper space through which satisfaction of consumers is possible.
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Shareholders meetings- Shareholders meeting is organised in order to analyse and
ascertain changes which are taking place. There are many people becoming shareholders of an
association, so there must be proper facilities have to performed. There is relevant and
appropriate information about understanding and analysing policies which assist in determining
changes according to implementation. In order to access policies which are taking place in
market then, it will be relevant and appropriate to determine ways through which application of
operations in possible. There is complete and specific information among consumers, through
which they can ascertain changes which has to be done. (Moreau and et. al., 2017) Managers of
Banks Sadler Ltd. Is relevant and appropriate because they analyse what might be demand of
client. There is discussion about financial information of organisation, so there must be proper
stationary such as pen, books, hand mikes, etc. to communicate properly.
TASK 3
P4 Different criteria to identify the potential audience for new corporate event
There is difference in demand of consumers, hence it is important for managers of Banks
Sadler Ltd. to understand the way through which can understand the ways through which
operations are performed. There is difference in demand of corporate bank people, so they are
bifurcated on the basis of executive level, superior level, business class, etc. This makes
difference in services provided to them. There is complete and specific information because there
is improper and irrelevant changes in pricing strategies as well. Bank managers also have some
specified budget, so it will be easy to determine how to change In order to access policies and
understand the way which makes it easy for managers to understand best deal with consumers
and they are satisfied with services (Austin and Pinkleton, 2015). In order to evaluate different
types of consumers, managers have to set some benchmarks through which they can ascertain
different types of audience. Some of the basis of discussion are as under-
Pricing budget- Budget is one of the most important factor which has to evaluated
because if consumer does not have proper budget, then more effective and relevant services can
not be evaluated. When there is complete and specific information with managers of Banks
Sadler Ltd., then they will advertise what will be available in specified budget. So in this case,
there will be proper understanding about evaluating changes, then it is easy for mangers to
understand how much services can be provided. If demand of consumer is high, then managers
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will ask to give more budget. Hence in this way it is easy for them to analyse what type of client
is (Olson and Brown, 2018).
Location of outlet- Location of outlet where event is planned is another factor which
provides information about understanding what type of client is. There is proper and appropriate
understanding about ways through which they can ascertain policies which has to made. If
location is situated at Porsche area, then requirements of client is also high and they want best
and new services from Banks Sadler Ltd. So as per location, event manager of Banks Sadler Ltd.
Must communicate about services, decoration, etc. If this is not considered, then there are
possibilities that dissatisfaction might arise among client and they may switch to competitors.
Refreshments or proper main course- In case of corporate event, there is requirement of
corporate offices, hence it is essential that whether event will end with refreshment or core
dinner has to be identified. If dinner is organised, then client want specified services with best
decoration and interior (Bakke and et. al., 2016). This is the way for managers of Banks Sadler
Ltd. to analyse requirement and determine up to what extend services are required.
P5 Key elements of basic feasibility study for a corporate events
In order to conduct an event, it is essential to evaluate its positive as well as negative
outcome. This is the way through which operations are planned and executed accordingly. There
are possibilities of some risks as well through which event might get affected negatively. In order
to ascertain changes properly and implement its operations in appropriate manner, it is essential
that managers have to evaluate factors by conducting feasibility study. This is the study which
provides estimation about issues, positive outcome and other factors which might give positive
or negative outcome. Feasibility study for an corporate event is discussed as under-
Venue and equipment feasibility- There is requirement of proper evaluation about venue
and equipments because these are two factors which has to be available to client at the time of
event (Raj, Walters and Rashid, 2017). At the time of conducting event, it is essential that that
venue as to be available and equipments which are required by client has to be available. It is
essential that venue and equipment must be within specified condition. There are two main
components which are required for making event successful i.e. venue and equipment, hence
there will risk that venue and equipments are not available on time or possibilities of improper
condition, hence managers of Banks Sadler Ltd. Ensure about these two factors.
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Staffing feasibility- There is requirement of proper staff with Banks Sadler Ltd. So best
services can be provided to corporate clients. In case of overload work from client and shortage
of time, proper working staff is required. This is the way through which operations are
performed in better and effective manner. If there is less employees, then proper staffing is not
possible due to which client does not get appropriate services (Boateng and Abdul-Hamid,
2017). In event industry, there are different individuals who are skilled and have appropriate
information about conducting operations, hence in this case there is risk to Banks Sadler Ltd. In
proper achieving targets.
Funding feasibility- There is requirement of proper funds for completing task and
providing up to the mark services. It is important and relevant for managers to understand
budget and demand of corporate client through which it is easy to determine the changes which
can be made in operations. If there is no proper funding with Banks Sadler Ltd., then they can
not provide proper services to consumers because they are not able to get proper resources for it.
Time feasibility- Time is also important for planning and providing proper services to
consumers. It is important and relevant to understand the ways through which operations are
performed in specified and effective manner. There is complete and specific information about
corporate client with managers of Banks Sadler Ltd. But if they does not provide appropriate
time, then it will not be easy for managers to provide services. Hence this is important that
managers of Banks Sadler Ltd. Must ask for specified time for completing task. Sometimes this
is the risk due to which workers are not able to provide best event management services to client
(Veal and Burton, 2015).
With the help of these studies, it will be easy for managers to determine what is the
demand of corporate clients and how to fulfil it in specified budget. There is change in
operations of association also, so there will completion of task with fulfilling their demand. With
determining and understanding budget with funding feasibility, then it will be easy and specific
to complete the demand accordingly. With time feasibility, time allotment for each activity for
completing project is possible and easy.
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TASK 4
P6 Plan for corporate event with applying planning and promotional principles
As to viably pick up progress from event of Foodie Flavour, Banks Sadler Ltd. event
supervisor is required to define well compelling arrangement. With the assistance of this, they
can adequately ready to direct their exercises as per time allotment and achieve event tasks in
well compelling way (Cagliano, Grimaldi and Rafele, 2015). Certain components were identified
with corporate event is being talked about beneath:
Conceptualisation of Theme:
Inside this, it is significant for Banks Sadler Ltd. supervisor to choose an uncommon
topic as to viably draw in client or visitor consideration. Supervisor of event association chose a
good event " Eat and repeat with near and dear ones". With the help of this happy topic Banks
Sadler Ltd. is anticipating impact client to spend their important minute at Foodie Flavour.
Set Budget:
The manager is required to must have suitable spending plan and incorporate all basic
expense and costs components. So as to achieve event for Foodie Flavour, manager of Banks
Sadler Ltd. affirmed spending plan of 3000 pounds.
Make Appointments with Vendors and Owner of Venue:
So as to direct all exercises on schedule, manager of Banks Sadler Ltd. is required to have
gatherings with setting proprietors and sellers on non-stop premise as to satisfy necessities of
event as indicated by pre plans (Wang and et. al., 2016).
Determine right Service for potential Guests:
So as to adequately fulfil the different activities on time, it is important for the manager
of Banks Sadler Ltd. is required to differentiate the type of services that will effectively offer
them tremendous degree of fulfilment. Carelessness of this factor may hamper offers of Foodie
Flavour.
There are some other type of planning and promotion rules that are required to be taken
into account by event manager so as to achieve event necessities with no type of loopholes.
Principles of Planning:
 It is fundamental for event director to design every single action in all around
characterized way.
 Event Team is required to have vital and required data of focused crowd.
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 Event Manager must guarantee and check all exercises so as to ensure that all capacities
are running as indicated by the arrangement (Austin and Pinkleton, 2015).
Principle of Promotion:
 So as to exhibit event rationale director is required to target steadfast client base.
Event Manager can attempt utilization of various internet based life advancement destinations so
as to advance event all around characterized way.
P7 Process implemented for planning and promotion of corporate event
So as to increase victories from corporate event, chief is required to have appropriate
arranging. With the assistance of this Banks Sadler Ltd. supervisor taxi adequately ready to sort
out every single related action in best viable way.
Detail Planning:
This factor is related with corporate event arranging. In this manner, it is significant for
Banks Sadler Ltd. director to settle each related things as per plan so as to keep away from any
sort of future disappointment (Getz, 2018).
Information About Confidence:
It is one of the best factor, as in this event director is required to have powerful
information identified with potential group of witness. As carelessness of this may influence
achievement of event and may additionally influence Foodie Flavour's working (Bakke and et.
al., 2016).
Trust But Verify:
As per this factor, event manager of Banks Sadler Ltd. is required to have formative trust
on their colleagues just as subordinates. What's more with this director of event is required to
opponent assess progress of event as to keep away from any sort of disappointment.
Principles of Promotion:
So as to increase best compelling effective results from event, manager is required to
receive productive type of special channels through which deals and income proportion of
Foodie Flavour can be increment.
Strive for Repeat Business System:
In this, manager of Banks Sadler Ltd. is required to upkeep Foodie Flavour deals as to
recognize their reliable and customary to corporate clients. Further so as to hold them to long
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span of time event manager asked Foodie Flavour proprietor to offer appealing limits as to hold
normal clients for long length of time.
Use Online Sources and Include Social Media Actions:
Supervisors can attempt utilisation of various online locales, for example, Facebook,
Twitter and Instagram so as to show client identified with event. This will permit Foodie Flavour
to inadequately build their business proportion (Boateng and Abdul-Hamid, 2017).
CONCLUSION
From the above discussion, it is clear that there are different reasons for which corporate
events are organised such as appreciation party, shareholders meeting, etc. so there is difference
in demand of client as well. It is essential to understand policies with which they can provide
satisfactory services to consumers. Budget, location of venue, etc. are some ways through which
it is easy to identify consumers and they will be provided with similar options this assist in
maintaining their satisfaction. There is risk of time, venue and equipments due to which
operations of event might get affected. There is discussion about specified steps which assist in
planning events properly and in organised manner.
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REFERENCES
Books and Journals
Austin, E. W. and Pinkleton, B. E., 2015. Strategic public relations management: Planning and
managing effective communication campaigns. Routledge.
Bakke, T. E. and et. al., 2016. The causal effect of option pay on corporate risk management.
Journal of Financial Economics. 120(3). pp.623-643.
Boateng, H. and Abdul-Hamid, I. K., 2017. An evaluation of corporate social responsibility
communication on the websites of telecommunication companies operating in Ghana:
Impression management perspectives. Journal of Information, Communication and
Ethics in Society. 15(01). pp.17-31.
Cagliano, A. C., Grimaldi, S. and Rafele, C., 2015. Choosing project risk management
techniques. A theoretical framework. Journal of Risk Research. 18(2). pp.232-248.
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.
Kang, C., Germann, F. and Grewal, R., 2016. Washing away your sins? Corporate social
responsibility, corporate social irresponsibility, and firm performance. Journal of
Marketing. 80(2). pp.59-79.
Moreau, P., and et. al., 2017. Adverse event management in patients with relapsed and
refractory multiple myeloma taking pomalidomide plus low‐dose dexamethasone: A
pooled analysis. European journal of haematology. 99(3). pp.199-206.
Olson, E. D. and Brown, E., 2018. Perceptions of students in an event management program of
annotation systems and their influence on student learning. Journal of Hospitality &
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.
Online
Banks Sadler Ltd. 2019. [Online]. Available through:
<https://www.bloomberg.com/profile/company/1456754Z:LN>.
What are corporate events?. 2019. [Online]. Available through:
<https://www.penguins.co.uk/blog/what-are-corporate-events>.
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