Importance of Strategic Planning and Risk Management in Business Events

BUSINESS MANAGEMENT
Why is it important to take a strategic planning and
project management approach which includes risk
management to business events?
Submitted by:
Student Number:

TABLE OF CONTENTS
INTRODUCTION........................................................................... 1
Literature Review........................................................................1
BUSINESS EVENTS..................................................................... ...2
Seminars/Conferences.....................................................................1
Product Launch..............................................................................1
Trade Shows.................................................................................1
Appreciation events........................................................................ 1
Executive Retreats and Incentive Trips...................................................1
STRATEGIC PLANNING.................................................................. 3
PROJECT MANAGEMENT.................................................................... 4
RISK FACTOR.................................................................................4
CONCLUSION.................................................................................. 6
REFERENCES................................................................................. 7

INTRODUCTION:
Business Management requires a lot of planning and processing which can be executed
efficiently by professionals’ only. In order to manage business events and organize them in a
proper manner, one needs to be having a plan ready with them so that they do not face any
difficulties further on. This assignment will give us a fair idea about the different business events
that are organized and the reasons behind and further on, elaborate the different factors we need
to keep on mind while organizing business events and managing them proficiently.
Literature Review:
A lot of research has been done already on the different types of business events and the amount
of work they require to be executed perfectly. Hard (2017) stated that any event being sponsored
by a corporation in order to target its employees and clients with the goal of aligning the aims of
an association with the events activities can be called a business event. To execute any business
event, one needs strategic planning and there are various ways in which a person can do strategic
planning. It all depends on the purpose you are planning for, the stage at which the organization
is in terms of development, the culture of the staff, and the kinds of issues being faced by the
organization currently (McNamara, 2010).
Another important factor is of Project Management. Nokes and Kelly (2007) stated that what
differentiates it from just ‘management’ is that it holds the final deliverable and a given time
period, which is different from management which is a continuous procurement. Due to this a
project professional requires a wide range of skills which is elaborated further in this essay.