Report on Corporate Event Planning and Feasibility Studies

This report delves into the realm of corporate event management, examining various aspects of planning, promotion, and feasibility. It begins by defining corporate events, differentiating them from leisure events, and categorizing different types such as conferences, trade shows, team-building events, and company meetings. The report explores the planning and promotion differences between corporate and leisure events, highlighting the importance of identifying the target audience for a new corporate event. It emphasizes the significance of feasibility studies in determining and mitigating risks. The report also evaluates the success of different corporate events in achieving strategic business objectives and provides insights into key elements of a feasibility study. Furthermore, it outlines a plan for a corporate event, incorporating key planning and promotion principles, and concludes with an evaluation of the entire planning and promotion process. The report underscores the importance of aligning events with business goals and objectives.

Corporate event management
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Table of Contents
INTRODUCTION...........................................................................................................................3
P1 Range of several corporate focused events............................................................................3
P2 Comparison and contrasting difference between corporate and leisure events......................4
M1 Differences between planning and promotion of corporate and leisure events....................4
P3 Different types of corporate events and their importance in meeting goals...........................5
M2 Evaluation of success of different types of corporate events in achieving strategic business
objectives.....................................................................................................................................6
P4 Different criteria to identify potential audience for new corporate event..............................6
M3 Importance of feasibility study is determining risk...............................................................7
P5 Key elements of feasibility study of event ............................................................................7
P6 Plan for a corporate event and key planning and promotion principles.................................8
P7 Evaluate process of planning and promotion of corporate event...........................................9
M4 Develop detailed plan for corporate event ...........................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12
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INTRODUCTION
Event industry is one of the industry that can increases rapidly day by day. There are
several types of the events that can be organized for example wedding, corporate, meeting and
many more. In each and every event the needs of the client in differ. It is rapidly growing
industry due to various needs of people in it. There are various large and small corporate events
held. It is done by doing proper planning in it.
Present report focuses on several corporate events as well as its difference accompanied by
leisure. Report also focused on about criteria regarding elements and audiences regarding
feasibility.
P1 Range of several corporate focused events
It is necessary to find out the meaning of corporate events. These are those events which
refers to social activity that is organized by an organization (Alam, Zhang and Al Hazaima,
2018). Audience of these types of the events are mainly members of employees, board,
stakeholders but also not limited. There are several types of the corporate events.
Conference- It is considered as one of the common type of the corporate event that can be used
to give important as well as detailed information so that it can target people through business
easily. One of the major common aims of organizing conference so that it can educate and
motivate students through selecting some relevant and specified topics. It is one of the most
suitable type of the corporate events for giving information to customers, resellers, employees
and many more.
Trade shows- Within such type of events rent space for business in a large event area
accompanied by making consumers aware and promoting products aware regarding the
effectiveness of their products as well as services. Within some types of the trade shows,
business also host of an exhibition so that it can easily attract other business that can be known as
exhibitors as well as giving them opportunities so that they can promote their goods.
Team building events- It is also known as house events where managers of a firm try to boost
confidence as well as engagement of the staff members with firms and colleagues. One of the
main objective of such events is to boosts employees as well as make employees capable of
doing work together as well as aids firms in completing their goals and also improving their
productivity (Alrayees, and Saleh, 2019). Corporate team events can be organized for making
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staff members feel valued through organizing some actions such as completing complex
outdoors, solving puzzles ,checking their sense of humor and confidence.
Company meeting- It is also used commonly for formal corporate events within which
shareholders of a firm, stakeholders and board members come together at place for discussing
several performances of the firm as well as areas for improvement. If there is a need of change
within a business in any areas then also it will organize such kinds of the events so that to
inform all the members about it and also discussing ways as well as how they can grow as well
as develop their business. So it can discuss from the above events that can be beneficial for both
managers and employees and also leads in completing goals.
P2 Comparison and contrasting difference between corporate and leisure events
It is noted that there is a huge difference between leisure and business events that can be
organized for several purposes. Leisure events are the one who can be organized for traveling,
entertainment, visiting new places, sports, destinations, cultural and many more. There are no
relations of consumers as well as purposes and many more. It is also noticeable that there is no
relation of business transactions and consumers is called as Leisure (Drago, Carnevale and
Gallo, 2019). Where all those events that are being funded through business for accomplishing
business actions ,promoting of products, attracting consumers and several other needs that are
related to the business. Some difference given below.
Management- it focuses on organization ,planning, and coordination. Leisure of management
events that are being managed through travelers as well as can be managed through travel agents,
tour operators as well as several choice of travelers. It is also focused that business travel also
managed through travelers as well as sometimes that can be managed through other specialist
employees hired through business and many more. Some leisure actions include such kinds of
events that can be organized: hiking, fishing, golf, ice skating and driving. Thus attracting
consumers, product launching as well as some activities regarding the business.
M1 Differences between planning and promotion of corporate and leisure events
Basis Leisure events Business events
Purpose  Fun, leisure and
enjoyment
 Educational
 Business networking
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 Exploring new
destinations as new
cultures also
Drivers  Affordability
 Available leisure
activities
 Attractiveness of
cultures and
destinations.
 Both businesses
and personal
expenditure
Expenditures Personal expenditure of leisure
activities and traveling
Both business and personal
expenditure
Service providers Airlines
Tour operators
Hotels
EMCs
PCOs
Content They are basically for
enjoyment and pleasure for
high class people
They are usually for a
particular propaganda or
business objectives
Planning It requires in depth planning
such as who will be
audience ,venues, concept and
many more.
In this the planning is required
but when venue and concept
are already decided
Promotion They are promote on social
media and TV, newspaper to a
large extent.
Promotion is not done on
social media as target audience
is decided.
P3 Different types of corporate events and their importance in meeting goals
Several types of the corporate focused events that are being developed for assisting firms
within completing their aims and objectives. Several types of events have several purposes that
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are interlinked to the activities of business (Gasbarro, and Pinkse, 2016). There are several
corporate events that shows that aids in meeting the goals as well as objectives of the entity such
as
Conference= It is classified one of the most commonly used corporate events. Conference are
also organized through educational institutions and business. It aids them in completing their
goals as well as objectives. Some retailers of the United Kingdom and London University also
wants to make their position within their market also they are facing some troubles because of
the climate change such as Covid 19. Thus, by communicating appropriate ways through which
firms and university have decided some changes as well as organizing online conferences as
they can take suggestions from all the participants that can be focused Worthing the market. As
all of them providing information so that they are able to take the better decisions. It can be said
that aids of conferences within execute their goals as it can focused all those people who can
share common as well as same goals that can be support firms within completing their aims as
well as objectives.
Success – it enables in creating awareness about launch of new products in people. with this the
products is launched in market. so, it results in achieving busines goals.
Team building events- It also aids them in completing their aims as well as objectives. Such as
Toyota desires to become the leaders of the market with the assisting of the team building events
as it makes all staff members are aware regarding improved relation and collaboration (Gwebu,
Wang, and Wang, 2018). Through allowing them and engaging them to interact with one
another Toyota also provides them motivation as well as it aids employees in reducing errors
within their workplace as due to improved relation as they can aid as well as provide guidance
of their employees who are seniors as well as also enhanced the performance of the employees.
Through working within a team they are the one the who brings creativity and innovation that
assists firms within satisfying the needs of the consumers and also attracting them and at the
same time becomes the leader of the market.
success- here, employee performance is appraised which allows in boosting their confidence and
morale. so this led to achieving business goals of organising event and giving rewards to staff on
basis of their performance
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Advantages of talent management
It aids in understanding workers better as well as shaping their future.
It aids in deployed right person for right position
Disadvantages
It can be expensive within terms of financial cost, time and resource.
It can also leads to conflicts between HR and management by not reaching proper consensus.
Product life cycle
Advantages
It aids in planning,
understanding marketing development
It is helpful for consumers as through driving innovation that leads to more safer and effective
products.
Disadvantages
It is not applicable for all the product categories.
M2 Evaluation of success of different types of corporate events in achieving strategic business
objectives
Seminar, product launching, trade shows are also falls under corporate events these are the
events which assists their goals such as attracting brand, improving brand, enhancing
sales ,bringing innovation ,taking competitive advantage within organizing as well as also
fulfilling the needs of the consumers. To engage the staff members and to improves their relation
Team building is one of the main factor . Seminars and conference assisting the firms within
making decisions. Product launching and Trade enables employees to attract lead sales and
consumers.
P4 Different criteria to identify potential audience for new corporate event
Target people or Recognition of audience is one of vital tasks that can be making planning as
well as organizing regarding corporate events. Target market selection is mainly focused upon
nature and purposes of the corporate events (Joshi, and Li, 2016). Such as if the conference is
held through educational institutes than students will be their target market. It also rely on goals
of organizing or conducting events. Such as if the restaurant is needs to launch new snack
product or any type of food products that can be advantageous as it is healthy nutrients and
products. Firms also launches event that able to target age group of 30 to 45. Age, gender,
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occupation, income level, demographic location, education. It is also vital to target people that
have the common goals that firm has. It is easy for the firm to target the people who have same
feelings, accomplishing goals, willingness that can makes advantageous within meeting all the
objectives in more effective and timely matter.
M3 Importance of feasibility study is determining risk
With the help of feasibility study also applies in evaluating several things that are done
within right direction and also within less risk It also able within effective decisions as well as
completing requirements of the stakeholder. In addition to this, It aids identifying risks that able
to occur as well as taking appropriate measures to mitigate it. by doing feasibility study, it
becomes easy to find out potential risk within project. this covers all aspect of elements such as
environment concern, legal risks, financial risk etc. so, accordingly planning is done and it
ensure that those risk impacts is mitigated. Besides that, study helps in identifying requirements
and taking effective decisions. Moreover, it is useful in framing a procedure that how to deal
with risk. Along with it, progress of project is maintained in effective way. with that staff gets
overview about what they have to follow and not (Levonevskiy, Vatamaniuk, and Saveliev,
2017)
P5 Key elements of feasibility study of event
It is crucial to conduct feasibility study of the event as it can be easily it can easily to
recognizes areas that where there is requirement of the improvement. Through doing, it
problems are identified and at the same time measures can be taken to improve the problem.
Thus, there are several elements that are required to be considered. They are also utilizing to
conduct event successfully. As these are the events that are feasible for the corporate events.
Mention below are some event that can be defined such as
Time -It is crucial element regarding feasibility that states that if there is enough time to
organize event. Also they have the enough time required to promote event ,book venue and many
more.
Fund- Here study is done so that it can funding will be available or level of risk and available
for event within acquiring those types of funding. Thus besides all such are expenses incurred
in it and revenue generated.
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Staff – Within this study Feasibility of the HR is done as it can access to a appropriate venue.
The venue must be equal to or it will be better as compare to the standard expected through all
stakeholders as well as participants.
P6 Plan for a corporate event and key planning and promotion principles
There are various types of corporate event which is organised. it is based on needs of
stakeholder. also, it is important to do proper and appropriate planning of event so that it is
successfully organised. In event management, there is a proper procedure which is followed in it.
likewise, event of auto expo is organised which is briefly explained as :
Event plan
identify needs of stakeholder- it is first stage in which needs of stakeholder is find out. there may
be many stakeholders in it such as investor, government, companies, etc. so, they are having
different needs. Thus, by finding out needs event purpose is identified (Pfitzner, and
Koenigstorfer, 2017). So, on basis of it goals of event is formed. here, auto companies needs are
analysed to organise auto expo event.
Estimating budget- in this budget of event is estimated. the budget is set to allocate resources of
task in event. In that it is also estimated about expenses to be incurred. Thus, auto expo event
budget is $20259.
timeline – it depicts the time in which event will be organised and completed. So, as per time
frame schedule is prepared. this allows in breaking of tasks and setting of date in it. hence, auto
expo event will be of 10 days.
identify audience – this is important stage as here target audience is identified. this gives insight
on for whom event is being organised. the target audience must be find out correctly. Now, for
this event audience is auto mobile organisation, its managers and employees.
Chose theme – the theme has to be chosen so that event is organised accordingly. on basis of
theme, decoration and preparation of event is done. Moreover, theme decide type of food,
interior design etc. Therefore, auto expo theme will be launch of electric cars.
Venue – the venue needs to be selected on basis of event type. Also, it should be suitable enough
so that requirement is fulfilled. So, venue of expo will be open ground (Shiu, and Chang, 2019).
Plan logistics- Here, logistics of event is planned on basis of time line set. It allows in effective
planning of event. Furthermore, logistics is prepared by matching it with schedule.
Promotion- this is last stage where promotion of event is done. It helps in creating awareness
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about event. the expo event will be promoted through social media and by giving ads on TV and
newspaper.
P7 Evaluate process of planning and promotion of corporate event
It is vital to do proper planning regarding for organizing events as it is utilizing in
evaluating activities as well as doing it at the same time properly. In addition to this planning
provides insights that what things can be done or what not and how and when. It is also
considered as a systematic process regarding planning. It is capable of effective organizing of the
actions as well as tasks and also events that are completing events within particular time. In
addition to this events required to be promoted and also creates awareness at the same time. It is
a process that can be used for promoting event.
Step 1 – Recognizes requirement- It is considered as the first step where needs are identified as
well as also requirements of the stakeholders are also determined as per the planning. The main
things that can be focused here is what, where and when.
Step 2- Estimate a budget- It is a vital step that can be budgeted regarding an event. As per the
resources are allocated within several tasks the budget's planning provides vision on incurred
expenses (Alam, Zhang and Al Hazaima, 2018)
Step 3- Select a theme- It is recognizes as well as per arrangements are made. As themes can be
identified and arrangements can be done.
Step 4= caterer and venue- on the basis of theme venue can be picked. The venue require as per
theme, environment evaluation is also done so that to recognizes hazard can be happen.
Step 5= Schedule of logistics- Within this step scheduled is developed in which it is species
about the activities to be done when and where.
Process of promotion of event
 Within a similar way promotion of the event can be done through mention below process
 Determining source of promotion
 It is vital to recognizes as its pros and cons are evaluated and also target audience is also
analysis that how will be reach to them.
 Strategies of promotion can be done
 choosing appropriate source
 Promotion
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M4 Develop detailed plan for corporate event
In event management, there is a proper procedure which is followed in it. likewise, event
of auto expo is organised which is briefly explained as :
identify needs of stakeholder- it is first stage in which needs of stakeholder is find out. Thus, by
finding out needs event purpose is identified. here, auto companies needs are analysed to
organise auto expo event.
Estimating budget- in this budget of event is estimated. the budget is set to allocate resources of
task in event. Thus, auto expo event budget is $20259.
timeline – it depicts the time in which event will be organised and completed. So, as per time
frame schedule is prepared. hence, auto expo event will be of 10 days.
identify audience – this is important stage as here target audience is identified. this gives insight
on for whom event is being organised. Now, for this event audience is auto mobile organisation,
its managers and employees (Alrayees, and Saleh, 2019).
Chose theme – the theme has to be chosen so that event is organised accordingly. on basis of
theme, decoration and preparation of event is done. Therefore, auto expo theme will be launch of
electric cars.
Venue – the venue needs to be selected on basis of event type. Also, it should be suitable enough
so that all requirements of event is fulfilled. So, venue of expo is open ground.
Promotion- It helps in creating awareness about event. the expo event will be promoted through
social media and by giving ads on TV and newspaper.
CONCLUSION
It is summarised that there are various types of corporate events such as trade shows,
conference, etc. which is organised. in feasibility study, its vital elements are fund, venue etc.
Moreover, there is proper procedure which is followed in organising event like estimating
budget, venue selection, promotion etc. However, an auto expo event is organised to launch
electric cars.
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