Corporate Events: Types, Planning, and Feasibility Report

This report provides a comprehensive overview of corporate event management, covering various aspects from different types of corporate events, such as trade shows, appreciation events, and product launches, to the differences between corporate and leisure events. The report delves into how different types of corporate events align with strategic goals and objectives, including trade shows for lead generation, conferences for showcasing innovation, and corporate dinners for employee motivation. It further explores the criteria for identifying potential audiences for corporate events and the key elements of a feasibility study, highlighting the importance of assessing the scope, requirements, and potential risks. The report also outlines the planning and promotion processes for a corporate event, emphasizing the importance of strategic focus and evaluation to ensure the event's success. The report concludes by highlighting the importance of corporate events in achieving business goals.

CORPOARTE EVENTS
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
Exploring different types of corporate focussed events ..............................................................3
Difference between Corporate and Leisure events......................................................................5
LO 2.................................................................................................................................................6
Review a range of different types of corporate events and assess ways in which they meet
different strategic focus and goals...............................................................................................6
LO 3.................................................................................................................................................7
Assessment of different criteria to identify the potential audience for a new corporate event....7
Examine the key elements of a basic feasibility study for a corporate event..............................7
Importance of a feasibility study in identifying the risk associated with delivering a new
corporate event.............................................................................................................................8
LO4..................................................................................................................................................8
Plan for corporate event...............................................................................................................8
Evaluation of final choice for the event.....................................................................................11
Process taken for planning and promoting corporate event.......................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Corporate Event Management basically deals in planning and organising of different types
of events for the corporate stakeholders and also engaging the attendees during the event.
Organising these events have many reasons behind such as team dinners, farewell parties,
exhibitions, conferences, orientation for the new joinees, incentive programs and awards, trade
shows and many more. These events could be small or big depending upon the type of event
which is organised (Sorescu, Warren and Ertekin, 2017). The report is based on planning for
event for one year completion of the organisation. The report will highlight the differences
between the leisure and corporate events along with the importance of the corporate events in
achieving the goals of the business. It will also shed light on the significance of the feasibility
study for the corporate event of completing 1 year. This will be followed by evaluating the
process to plan and promote the event.
LO 1
Exploring different types of corporate focussed events
Corporate events are basically the form of events, social or hospitality activity which is
mainly funded or organised by the entity of the business. There are many reasons for which these
are organised such as rewarding, educating, celebrating, motivating, marking key milestones,
managing organisational change and encouraging the collaboration. These corporate and their
success also help in achieving the strategic objectives of the business. There are various types of
corporate events which are discussed as below:
Trade shows
These are considered as the activities for lead generation. Various companies decide to
sponsor or host the trade shows for reinforcing their image which can help them in becoming the
industry leader among the attendees. When the event is planned for trade shows, then the
negotiation is done regarding the sponsorship rates for advertising, speaking opportunities for the
company leaders to speak, booth space etc. These can be helpful to the companies for achieving
the success because their products and services can be showcased in these shows (Yun, Kim and
Kim, 2017).
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Appreciation events
These give the opportunity for spending the informal time with the guests in a non
traditional event. These also help in building rapport and learning about the priorities of the
business. These can be organised for appreciating the employees, clients or for both. These can
be in the form of parties which helps in motivating the employees and the clients and to provide
them peaceful and enjoyable experience with the company.
Organisation milestones
These are basically organised for celebrating the grand opening or the milestones or the
anniversaries of the company. These also include the programs for appreciating the clients and
the employees because the company considers them as the reason for achieving the milestone. Its
audience basically includes the people who are involved in the business.
Product launch events
Its main purpose is informing the employees about the upcoming products which helps in
creating the buzz surrounding the release of the product among the media and the customers.
These are basically helpful for the B2C companies. This helps in generating the industry buzz
and the media coverage before the release of the product (Lamond, 2018). Large product
launches are also like the big parties which help in making the large audience aware of the
product of the company which helps in achieving the organisational goals.
Shareholder meetings and board meetings
These play a major role in the success of the company as these give various opportunities
to the board members of the company for reviewing the performance of business and meeting
with the executives for making important decisions. This also helps in sharing the performance,
future goals, targets, business strategies with the shareholders also. These are organised
quarterly, half yearly and biannually and contributes in increasing the performance and
profitability of the company.
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Difference between Corporate and Leisure events
There are vast differences between the leisure and Corporate events. The corporate events
are basically the activities which are influenced by the business program’s content as well as the
opportunities for the networking while the leisure events give the motivation to travel as it gives
various opportunities for exploring other cultures for experiencing personal and freedom growth.
The destinations for the leisure and the corporate event are also different according to the
purpose of the event. The purpose of organising and planning for the corporate and leisure events
are different. Though the corporate events can be considered as the part of the leisure events, the
marketing and promotional ways for these events are completely different. Their marketing
approaches need to be approached differently for both these segments. Leisure event
management includes managing the facilities such as recreation centres, sports grounds and the
venues for entertainment. It also deals in managing the festival or celebration, concert or any
sporting contest. These are informal events in which the companies which organise these events
hire an enthusiastic workforce who are aware of the target audience (Baker, 2018).
On the other hand, the corporate events do not need specialized workforce or any other staff
from outside the company for planning or organising the event as these are organised by the
decisions taken by the employees and the people who are involved in the organisation. The
executives of the company decide mutually and plan for the corporate events. The main aim of
the manager of the leisure event is incorporating measures which add value and improving the
experience of the event goers. These measures are delivered through various mediums such as
screen or sound systems in cinemas, technology, white knuckle rides or simulators in the visitor
attractions etc. These are done for enhancing the customer flow, service quality or the
circulation. On the other hand, the corporate events are organised to motivate the employees for
increasing the performance and profitability of the organisation thereby achieving the goals of
the business (Yang and Tan, 2017).
This is how; the corporate as well as leisure events can be compared and contrasted.
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LO 2
Review a range of different types of corporate events and assess ways in which they meet
different strategic focus and goals
Each and every event has its own vision, strategic focus goal, aim and objective. For
corporate events it is extremely important to ensure that main goal and strategic focus of the
event is fulfilled in order to ensure its success (Baruch, Panayides and Venkataraman, 2017).
Some of the main types of corporate event and ways in which they fulfil their strategic focus and
goals are as follows:
 Trade shows: Main strategic focus of trade shows is to increase reach of vendors and
customers. Many times, main goal of small trade shows is to increase sales of their products
and services. in order to successfully achieve and fulfil this strategic focus and goal of these
trade shows it is important to identify target customer base so that need of their customers
can be fulfilled.
 Conferences: main strategic focus of conferences is to showcase innovation and creativity of
organization to others with the main goal of grabbing their attention and for asking for
feedback from others for the same. In order to achieve this strategic focus and goal they
invite their top competitors and many other important people to attend the conference.
 Corporate dinners and award shows: Main strategic focus of this type of events is to make
employees feel connected to each other and with the company (Funchal and Pinto, 2018).
These kinds of events are organizations with a goal to make employees stay for longer period
within the company and well as to motivate them so that employees bring changes within
their overall behaviour and their overall productivity can be enhanced. This strategic focus is
achieved by providing an opportunity to employees where they can celebrate, gain
recognition through company awards programs.
 Milestone achievement: It is another kind of Corporate dinners and award shows.
Main strategic focus of this type of event is to provide an opportunity to celebrate
milestone achievement or anniversary of organization. Its another goal is to increase
awareness and presence of organization.
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LO 3
Assessment of different criteria to identify the potential audience for a new corporate event
Corporate dinners and award shows is one of the main corporate event of an organization
that mainly focuses upon celebrating achievement of a milestone with potential customers,
employees of organization, clients so that they can get to known that organization has
successfully completed one year (Augustin and Subrahmanyam, 2020). In this discussion about
criteria on the basis of which potential audience of this event can be identified so that required
communication related to this milestone achievement event can be done accordingly.
 First criteria is to analyse and identify existing employees, vendors of the organization, and
existing customers as well as clients of the organization. This analysis will help in identifying
potential customers, clients, vendors and all employees of the organization who can increase
overall value of this Corporate dinners and award shows for celebrating successful
achievement of one year milestone achievement.
 Second criteria is to analyse existing audience of other Corporate dinners and award show
event so that general information about potential audience of this event can be gathered in
order to identify desired quality an values that are required to be maintained in this type of
event.
 After analysis of potential audience it is necessary and important to identify and analyse
potential audience of this event as per the initiatives taken by the company (Bessembinder,
Cooper and Zhang, 2019). This analysis will further help in identifying whether main need
and requirement of the company will be fulfilled by the target audience or not.
These criteria’s will help in fulfilling need and demand of the event. Required important
information regarding this event can be accessed with the help of primary data collection method
through questionnaire, survey etc.
Examine the key elements of a basic feasibility study for a corporate event
Feasibility of an event helps in analysing likeliness of the event in front of target public
audience so that main values and aspects that are important for event progression can be
analysed.
 Scope of the event: it helps in analysing overall scope of the event in order to identify what
sort of benefits will be attained by target audience after becoming part of the show.
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 Current analysis: this helps in analysing current values and position associated with the
event which further helps in accessing values of the event.
 Requirements and needs: Analysis of needs and requirements helps in identifying main
requirements for proper management of the event (Bessembinder, Cooper and Zhang, 2019).
 Approach and evaluation: It is extremely important to identify approach which is required to
be adopted in order to organize event successfully and for increasing engagement of potential
audience for increasing interest of necessary customers.
 Reviews: In this feedback from customers is taken for evaluating event aspects that were
excellent and identify aspects in which further improvement can be brought for determining
successful organization of the event.
These are some basic key elements of a basic feasibility study of corporate dinner and
award show so that this event can be progressed successfully, various kinds of benefits to target
audience can be provided like employees can be rewarded, potential customers and clients can
also be awarded etc.
Importance of a feasibility study in identifying the risk associated with delivering a new
corporate event
Feasibility studies helps in analysing and identify overall process of the event for
identification of ways in which it can be organization successfully by analysing necessary forces
that are required to be fulfilled (Bessembinder, Cooper and Zhang, 2019). This study further
helps in identifying risk associated with implementation of event so that necessary and required
changes that are required to be brought can be identified so that these risks can be minimized and
event can be managed successfully and its success can be ensured without any kind of risk or
issues associated with planning of the event.
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LO4
Plan for corporate event
Objective-
1. The main objective is to plan an event of organization for the successful completion of
one year.
2. Event is also tend to be as an farewell and welcome parties to the organizational
employees.
Time-
The following event will be conducted with the time span of 2 weeks, which include the process
like selection of location, conducting survey for responsible employees and many other.
Situational analysis-
Strength- Company is being able to fulfil all the requirements its employees and also at the
same time is having a large employee work force and because of which is having high level of
loyal organizational customers through which it has managed to achieve a strong economic
background.
Weakness- Even though company has successfully completed its successful one year but is
facing limitation in its employee retention and because of which employees are changing their
brands and because of which company is tend to organize a farewell party for the efforts which
they have established for the organization (Ray, Albeado Inc, 2019).
Opportunity- By organizing large events like this for organizational employees company can
advertise itself through which it can achieve high level of brand awareness and high
organizational sales. With that it can also make effective improvisations in its work culture
through which employee retention can be improved.
Threat- Company tend to provide high level of work live enjoyment to its employees and for
which is tend to organize big events, due to which has to make large amount of expenditures
which will make significant impact upon the economic growth.
STP
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Segmentation- Organizational employees are the targetted audience for the organization party
celebration because this event is to be organized as an celebration on the completion of one year
because of which is concentrated on organizational employees.
Targetting- The main focus of the organized event is to give an appropriate farewell party to the
ex-employees and also as an welcome party for the new joining because of which it is highly
effective (Panizo, 2019).
Positioning- The event can be positioned through personal emails to each employees so that
high level awareness of event can be spread out. With that pamphlets can be spread all across
the organization in such a way that mouth to mount promotion can be established among
employees through which high employee engagement can be achieved.
Promotion
In order to increase the effectiveness of the scheduled event company may utilize several
promotions methods which are as following.
Social Media marketing-
In order to increase the level of number of individuals to the organizing event company can
develop creative advertising methods through the use social media networks.
Email advertising-
Email contacts is an new and trendy way of communicating with the organizational employees
because of increasing engagement of employees company can use this methods for promoting
itself.
KPI
Number of employee check-ins- The key performance indicator for the effectiveness of this
event is to analyse the number of employees which are participating in the event. This is
analysed by the number participations which is being received and thus can be analysed
accordingly (Pragale, Patel and Bresden, 2017).
Event survey- The effectiveness of the organized event can also be evaluated by conducting an
survey within the organization through which number of possible entries can be identified and
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through which the party preferences can be selected accordingly.
Sales ticket- This is an traditional key method for identifying the possible entries for the event
and this can be seen through the number of ticket sales which has happened and through which
effectiveness of event can be analysed.
Budget
Following is the budget for the event,
Product Price
Location 40,000/-
Decoration 25,000/-
Advertising 5,000/-
Total 70,000/-
Evaluation of final choice for the event
The event is set to be organized in such a way that all the organizational employees are able to
get together and can utilize the services provided by the organization because of which the
chosen location tend to be having appropriate space. With that the location must also be easy to
reach so that employees can make their efficient schedule their type of conveyance.
Process taken for planning and promoting corporate event
Understanding purpose of the event:
Here the event is the party for one year completion of the organization.
Setting budget:
Organizer should know that how much budget is required to the event and it can be calculated by
combining all the activities of the event and the costs related to that activities. Setting budget will
help corporate to not go out of budget (Bui and Tran, 2017).
Establishing timeline:
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It is the most essential thing while planning for corporate event, organizer of the event has made
checklist and has given timeline for each activity and that should be achieved in that particular
time only.
Deciding audience:
Here the target audience is the complete staff of organization which include employees,
managers, lower level staff etc.
Choosing theme:
Under this themes have to choose that what will be the decoration and what sort of entertainment
is to be provided to the audience like inviting comedian to the event etc.
Selecting of location:
It is to decide that what will be the location where the event will be held. Here the corporate
event will be organized in the garden so that audience can enjoy.
Planning logistics:
If the event is planned identify the necessary things, like caterers, technicians, photographers,
decorators etc.
Promotion of event:
Promotion is the very important part because if the people don't know about the event then how
they will attend that (Kondrashov, Glushkova and Kobzev, 2020). Here promotion of the event is
done through the social media platform, organizer has given attractive posts on social media and
provide all necessary information on that.
CONCLUSION
Through this report it can be concluded that event is related to the one-year completion of
the organization. It had determined different corporate events, comparison is done between
corporate and leisure events. Further report has review different types of corporate events and
how they are helpful in meeting goals. It had identified the potential audience for the new
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