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Special events : event leadership for a new world: 4th ed. (The Wiley Event Management Series)

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Disclaimer of Liability/Warranty Disclaimer: While the publisher and author have used their best efforts to prepare this book, they make no representations or warranties as to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. This fourth edition of Special Events: Event Leadership for a New World is dedicated with love and gratitude to a leader who inspires young and old alike, my beloved sister, Leah Goldblatt Lahasky.

SAMPLE INCIDENT REPORT 471 APPENDIX 13 SAMPLE PURCHASE ORDER 475

WHAT IS A PARTY?

The first edition of this book, published in 1990, introduced many people to the new career of Event Management. And like my mother when she mimed at President Reagan's Congressional White House Picnic, an event manager shouldn't just be in charge of an event—an event manager should be a part of the event.

PREFACE

Although 9/11 was a major shock, a series of ongoing shocks in North America continued to challenge the special events industry. It is also a new world in which the special events industry must change again in order to survive and grow.

FROM EVENT MANAGER TO EVENT LEADER

NEW DATA CREATES THE KNOWLEDGE YOU NEED TO LEAD

This represents a 35.8 percent decrease in average revenue reported by Event Solutions Fact Book in 2000. The median number of rescheduled events was 1.3 percent and the mean number was 2.4 percent.

THE EVENT LEADER

100 percent of participants agreed that these are important/essential general knowledge and skill attributes for Event Leaders. More than 90 percent of participants disagreed that these common knowledge and skill attributes are important for Event Leaders.

Figure P-2. (Continued)
Figure P-2. (Continued)

ACKNOWLEDGMENTS

Oliver's enthusiasm for this project and for the entire Wiley Event Management series served as a gentle but powerful reminder of the importance of this industry. My friend, the campus priest, agreed to light the first candle of the menorah at the first Chanukah celebration in the history of this Catholic university.

THEORY OF EVENT

LEADERSHIP

WELCOME TO EVENT LEADERSHIP

IN THIS CHAPTER YOU WILL LEARN HOW TO

Over the past decade (since the first edition of Special Events), the field of Event Management has seen numerous changes, and Figure 1-1 summarizes these paradigm shifts. These six aspects of the profession reflect how the field of Event Management has experienced sweeping changes in the past decade.

FROM SPECIAL EVENTS TO EVENT LEADERSHIP

The World Wide Web has woven the Event Leadership profession into a new global community. According to Jani, nowhere in the world does a parade appear on the main street every night of the year.

ANTHROPOLOGICAL BEGINNINGS

One member of the media approached Robert Jani during the early days of the Main Street Electric Parade and asked, "What do you call this program?" Jani replied, "A special event." "Special event - what is it?" asked the reporter. Jani thoughtfully responded with perhaps the simplest and best definition of a special event: A special event is one that differs from a normal day in life.

GROWTH OPPORTUNITIES

Less than 50 years ago, the modern profession of public relations and advertising became an accepted tool of American commerce. As an example of the rise of Event Leadership in the field of public relations, consider this comment from the first person in the United States to receive a master's degree in public relations, Carol Hills of Boston University: “My students are extremely interested in the events.

THE EVENT MANAGEMENT PROFESSION

CELEBRATION

EDUCATION

MARKETING

REUNION

EVENT LEADERSHIP SUBFIELDS

CIVIC EVENTS

EXPOSITIONS

FAIRS AND FESTIVALS

HALLMARK EVENTS

HOSPITALITY

MEETINGS AND CONFERENCES

RETAIL EVENTS

SOCIAL LIFE-CYCLE EVENTS

SPORT EVENTS

Before, during or after a big game, events are used to attract, capture and motivate spectators, regardless of the outcome of the game, to continue to support their favorite team. In fact, the line between sports and entertainment is blurred mainly due to the proliferation of events such as pre-game giveaways, post-game fireworks and musical performances, and even promotions such as trivia contests during the game.

TOURISM

STAKEHOLDERS

THE EVENT MANAGEMENT PROFESSIONAL MODEL

It will be useful to you when you start or continue your studies in Event Leadership, as it provides a theoretical framework to support the organization of this profession.

CHANGE: THE ONLY CONSTANT IN EVENT LEADERSHIP

DEMOGRAPHIC CHANGE

PSYCHOGRAPHIC CHANGE

CAREER OPPORTUNITIES

Event Management Position Background and Experience Typically Required Attraction Event Manager Organization, marketing, logistics, human relations,. Public Relations Event Manager Writing, organization, research, financial, marketing, human relations, PR, logistics, negotiation.

GENDER OPPORTUNITIES

EDUCATIONAL OPPORTUNITIES

George Washington University receives more than hundreds of applications for the certificate program each year; however, the fastest growing delivery system is for distance learning students in countries around the world.

CERTIFICATION

DEVELOPING YOUR CAREER

MASTERING YOURSELF

MASTERING TIME MANAGEMENT

When you receive phone calls, you must determine whether you are the most appropriate person to answer the caller. If you are not the most appropriate person, refer the caller to the best source.

MASTERING FINANCE

MASTERING TECHNOLOGY

In the Event Leadership profession, there are hundreds of home pages on the Internet (see Appendices 1 and 2 for some examples). One of the easiest and fastest ways to conduct research is through the Internet system.

MASTERING HUMAN RESOURCE SKILLS

PROFILES IN EVENT LEADERSHIP

THERE IS NO SUBSTITUTE FOR PERFORMANCE

CHALLENGES AND OPPORTUNITIES

BUSINESS DEVELOPMENT

Relationship marketing is increasingly important since the development of affinity programs by retailers in the 1950s. According to Advertising Age and other leading chroniclers of global relationship marketing, relationship marketing is the fastest growing segment in the entire marketing profession.

RESOURCE DEVELOPMENT

Implicit in this relationship is the reality that buyer and seller like, respect and trust each other. The event manager must invest the same time as larger organizations do to understand how to use events to build solid relationships that foster loyalty, word-of-mouth approval, and other important attributes of a strong customer and client relationship.

LIFELONG LEARNING: A USER’S GUIDE

GETTING FOCUSED

HOW TO USE THIS BOOK

SELF-EDUCATION: THE READING LOG

Developing this habit during your study period will begin a lifelong process that will pay off handsomely throughout your career. Be sure to develop a filing system for these readings for future reference and use the reading log as a classification system for easy reference.

BENCHMARK CHECKLISTS

After completing two 20-minute study periods, earn a bonus by reading the linked material and then recording the title, author, date, and brief description in your reading journal.

CRITICAL CONNECTIONS FOR CAREER ADVANCEMENT

THE APPENDIXES

Furthermore, since Event Management is an evolving discipline and a rapidly expanding profession, you may notice gaps in the appendices that you can fill. Send me your resources at joe.goldblatt@jwv.edu and you will be recognized in the next edition.

ROLE AND SCOPE

A 600-YEAR-OLD CASTLE BRINGS

EVENT LEADERSHIP TO A NEW WORLD

On paper, it included free admission to one of the popular Ripley Castle tours. Sir Thomas and Lady Emma also reminded me that, as they have helped Ripley Castle develop from a good to a great organisation, they have mirrored the attributes of successful organizations identified in the best-selling business book Good to Great by Jim Collins (HarperBusiness, 2001).

CAREER-ADVANCEMENT CONNECTIONS

Confucius declared several thousand years ago that "we are indeed cursed to live in interesting times." Like Sam, whichever path you take in the endlessly fascinating Event Leadership profession, you can be sure to find many opportunities in these very interesting and challenging times. In the closing lines of his bestseller Megatrends (Warner Books, 1982), John Naisbitt exalted the world he had spent years analyzing: "My God, what a great time to be alive." The future you and your colleagues will create will bear the curse of Confucius, the joy of Naisbitt, and the last assurance of the French poet Paul Valery, who wrote: "The trouble with the future is that it is no longer what it used to be ." Your future is secure knowing that there are a total of 150 million new births annually in the world and therefore just as many events (and many more) to manage.

GLOBAL CONNECTION

TECHNOLOGY CONNECTION

RESOURCE CONNECTION

More than 150 colleges and universities around the world offer courses, curricula, degrees, certificates and other resources. Temple University's School of Tourism and Hospitality is currently developing the first comprehensive event management certificate.

LEARNING CONNECTION

MODELS OF GLOBAL EVENT

All successful events have five critical phases in common to ensure their consistent effectiveness. In this chapter we examine each phase, to enable you to produce successful opportunities every time.

RESEARCH

I have interviewed hundreds of leading event management professionals and they have stated their belief that more time needs to be devoted to event research and evaluation. According to these experts, if more time were devoted to these phases of the Event Management production process, less time and cost would ultimately be required to complete the intermediate steps.

MARKET RESEARCH TECHNIQUES

An event is a product presented to the public with the reasonable expectation that it will attend. Matching the research type to the event is important and is determined by the objectives of the research, the time allowed for conducting the research and the resources available.

QUANTITATIVE VERSUS QUALITATIVE RESEARCH Quantitative Pre-Event Research

The event may be studied from a historical context or stakeholders may be interviewed to determine how personality, skills, and other factors drive the event's success. A case study allows the event researcher to draw conclusions based on research obtained from a comparable event.

VALIDITY AND RELIABILITY: PRODUCING CREDIBLE PRE-EVENT RESEARCH

Effective quantitative research has elements of qualitative research incorporated to enhance the validity of the questions. The goals and desired results of the research, combined with the time frame and available funds, will ultimately determine the best method for your pre-event research.

INTERPRETING AND COMMUNICATING RESEARCH FINDINGS

THE FIVE W’S: HOW TO PRODUCE CONSISTENTLY EFFECTIVE EVENTS

The first step is to ask, "Why should we hold this event?" There should be not one, but a number of compelling reasons that confirm the importance and feasibility of holding the event. External stakeholders may be the media, politicians, bureaucrats or others who will invest in the event.

SWOT ANALYSIS: FINDING THE STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND THREATS

The third step is the question "When will the event be?" You have to ask yourself if the time frame from survey to evaluation is appropriate for the size of this event. However, they need to be taken seriously during the research process as they can cause potential disaster for the event.

Figure 2-4 Event Strengths and Weaknesses
Figure 2-4 Event Strengths and Weaknesses

DESIGN: BLUEPRINT FOR SUCCESS

The first pillar of the Event Management process – research – rests squarely in the middle of the other four pillars of support. While each is equally important, the future success of an event depends on how well you execute the research phase.

BRAINSTORMING AND MIND MAPPING

The philosophy of the event will define the financial, cultural, social and other important aspects of the event. Mind mapping allows you to carefully analyze ideas and show how they support the goals of the event.

Figure 2-7 Event Management Needs Assessment
Figure 2-7 Event Management Needs Assessment

THE CREATIVE PROCESS IN EVENT MANAGEMENT

After nearly 20 years as one of the leading event designers, Richard Carbotti says he now focuses on a select list of clients in the corporate and social markets. Whether it is the vision of event design or the vision of his company, Richard Carbotti focuses on quality and innovation to constantly expand the possibilities in the new world of event design.

MAKING THE PERFECT MATCH THROUGH NEEDS ASSESSMENT AND ANALYSIS

Each of these sources can have different degrees of importance, depending on the nature of the event. Research and design phases are added to the event history as soon as an event is approved.

PROJECT MANAGEMENT SYSTEMS FOR EVENT LEADERS

The project management system helps ensure accountability through continuous deliverables that are required to update the progress of the event. Similar to the traditional organizational chart, PBS provides a complete overview of all event requirements.

PLANNING CONSISTENTLY EFFECTIVE EVENTS

Sensitivity analysis is the identification of the degree of influence that each part of the event has on the entire event as a whole. This analysis also helps with risk management controls for the event because it shows how a small change in one area can affect other areas of the entire event.

TIMING

Planning the time of an event is just as important as managing your planning time. The moment the client approves the date of an event, the Event Manager must begin to assess how the planning period will affect other business operations.

SPACE

Go back to the research and needs assessment phase and review why this event is important and who the stakeholders are. Ingress defines entrances or access to a scene, while egress refers to exits or escape routes.

TEMPO

You must also consider the time available for entry or exit, as this will determine the number of portals (gates) that may be required for this purpose. To become a professional event manager, you need to master your ability to manage time in minute segments.

GAP ANALYSIS

I was fortunate to have a business in an era of high demand, and I was able to constantly upgrade my workforce. This planning tool involves thoroughly reviewing the elements of the event and identifying significant gaps in the planning that could weaken the overall progress of the plan.

COORDINATION: EXECUTING THE PLAN

The Event Manager has made a big hole in his or her plan that needs to be closed in order to strengthen the overall event. Use a discerning friend - someone whose expertise on the specific event is known to you - to review your plan and look for gaps in your logical thinking.

EVALUATION: THE LINK TO THE NEXT EVENT

The third form of event evaluation is the telephone or mail survey conducted after the event. Regardless of the form of assessment you use, it is essential not to wait until the end of the event to find out how you are doing.

Figure 2-10 Event Management Process
Figure 2-10 Event Management Process

COMMUNICATIONS: THE TIE THAT BINDS

Distribute this document before the meeting to those who will attend and ask them to comment. The use of online computer chat rooms has grown in popularity due to the rapid expansion of Internet technologies.

SYNERGY: LINKING ADMINISTRATION, COORDINATION, MARKETING,

AND RISK MANAGEMENT

THE LEADER AS MENTOR

The International Special Events Society (ISES, www.ises.com) is committed to continuing education in the Event Management community. You have to produce the event and be able to execute it flawlessly.

ADMINISTRATION

DEVELOPING AND IMPLEMENTING

Managing an event provides you and your stakeholders with the data with which to create the dream that will produce the results you want. The research and design phases ultimately produce the tools with which you can build an event plan plan.

STRETCHING THE LIMITS OF THE EVENT

The administration of a professional event is the first competence to be mastered in Certified Special Events Professional knowledge. To produce a multidimensional and multisensory event experience that transforms guests, you must research as well as design the event outcome.

DESIGNING THE EVENT ENVIRONMENT

FIVE-CARD DRAW: PLAYING THE FIVE SENSES

Use the event environment concept diagram to identify and isolate the location of certain sensory experiences. Audit the site to determine the pre-existing sensory environment and what adjustments you need to make.

SOUNDSCAPING

The majority of these sites are not designed for optimal sound reproduction, so the event planner or sound designer must consider how to improve the sound conditions in the venue. In addition, the rise of the disc jockey format and the more frequent use of videotape require the sound quality to be better than ever before.

VISUAL CUES

As the sophistication of audio components available to the average consumer has increased, sound systems for retail events have had to improve in quality as well as match the sound that many guests may experience in their living rooms. Millions of dollars worth of merchandise can be displayed, but if the sound system is poor, the guest perceives less value and is less inclined to buy.

TOUCH

In the social market, not only are live bands used more often than ever, but with the addition of new electronic instruments, a small live band's repertoire can be multiplied many times over. Whether it's a fashion show or a visit from Santa Claus, great sound is needed to give the event credibility and value in the eyes (or ears) of the guest.

SMELL

TASTE

BLENDING, MIXING, AND MATCHING FOR FULL EFFECT

BELLS AND WHISTLES: AMENITIES THAT MAKE THE DIFFERENCE

IDENTIFYING THE NEEDS OF YOUR GUESTS

PROVISION FOR GUESTS HAVING DISABILITIES

IMPLICATIONS OF SIZE, WEIGHT, AND VOLUME

Identify the total number of people and multiply the square feet (or meters) needed for each person. Subtract the total square footage needed for the couples from the total space available.

SECURING THE ENVIRONMENT

500 square feet available for props, tables, chairs and other equipment Don't do it backwards. Within a few years, most nightclubs, restaurants and other event facilities will have fire extinguishers (sprinklers) as a direct result of the tragic loss of 100 people in the Station nightclub fire.

TRANSPORTATION AND PARKING FACTORS

As a direct result of the Station nightclub fire in West Warwick, Rhode Island, several new laws have been passed and the state legislature has been stripped of preserving buildings. Well-lit, gated areas are best for parking; however, the proximity of the vehicles to the loading area of ​​the site is the primary concern.

EFFECTIVELY MANAGE THE EVENT ENVIRONMENT AND

Again, consult with transportation and location officials well in advance to determine the most efficient route. You may think that transport and parking have little to do with creating a good event environment, but these two considerations deserve close attention.

ENTRANCES AND RECEPTION AREAS

Note that the guests at the primary tables enter between them so as not to conflict with the guests at the additional tables. In Figure 3-4, you can move guests forward and handle disputes at the same time.

Figure 3-1 Registration-Reception Setup with Secondary Tables Supporting a Primary Table  (G, guest; C, control)
Figure 3-1 Registration-Reception Setup with Secondary Tables Supporting a Primary Table (G, guest; C, control)

FUNCTION AREAS

With this setting, each row should be at least 6 inches further apart than in Figure 3-5, to allow for more efficient egress. Masking tape or string on stands can be used to seal off the back rows, as shown in Figure 3-8, encouraging guests to fill in the front rows first.

Figure 3-6 demonstrates the optimum setup, complete with wide aisles on each side to allow for proper egress
Figure 3-6 demonstrates the optimum setup, complete with wide aisles on each side to allow for proper egress

INNOVATIVE SITES

Wherever you turn, you'll find new products and new services available to help you transform an environment for a creative special event. The ISES Global Resource Guide lists additional groups and organizations that can help create an environment for your next special event.

Figure 3-9 includes a sampling of ideas for unusual sites in which to hold spe- spe-cial events
Figure 3-9 includes a sampling of ideas for unusual sites in which to hold spe- spe-cial events

AMENITIES AND FURNISHINGS

All right, if you want to eat, you have to sing for your dinner!” The children then proceeded to sing a 10-minute medley of holiday songs. The Bible tells us that "There is nothing new under the sun." The late Robert Cavett, chairman emeritus of the National Speakers Association, said, "Much of what is described as 'new' is really old wine in new bottles." These maxims apply to the decor industry because, with every new technology advancement, the basic principles of meeting the guest's sensual, physical and emotional needs remain unchanged.

Figure 3-9 Event Sites
Figure 3-9 Event Sites

INSIDE THE WORLD OF EVENT DESIGN

Regardless of the site and the decoration details, however, the designer's goal remains the same: to satisfy the guests. Today they are challenged to give the guest a sense of participation and interaction with the element of the decor.

THEMED EVENTS

An important consideration when planning themed parties is to understand the group's history. Food and Drink: beer, pizza, hot dogs, burgers, malt, chips, cherry coke Dickens of all ages Decor: Covent Garden design entrance;.

Figure 3-10 Themes from Popular Culture, History, and Current Events
Figure 3-10 Themes from Popular Culture, History, and Current Events

BIG THEME SUCCESS WITH SMALL BUDGETS

Event managers may choose to use the base price formula for standard services customary in the funeral industry to create standard packages and improve efficiency when quoting. While each event represents the unique tastes and sensibilities of the host/buyer, there are many standard steps that can be priced well in advance to ensure consistent profit on individual offers.

TRENDS IN THEME EVENTS

Your ability to design, balance and mold this collage will be rewarded by guests' total immersion in the environment, which will leave an indelible impression for years to come. Especially in the new world of Event Leadership, you need to be sensitive to the cultural, political, and other unique factors represented by your event guests.

SUSTAINABLE EVENT LEADERSHIP

Your event environment is the opportunity to explore dozens of options in decor, entertainment and other elements to make every moment unique and memorable. By understanding how the various pieces fit together to solve the puzzle that is the event environment, you provide a finished image that will be remembered by your guests for years to come.

CONSERVING THE ENVIRONMENT

You are the artist and scientists use your experience, sensitivity, good taste and talent to create and design this unique moment in time.

ENVIRONMENTAL ECOLOGICAL SENSITIVITY

Meet with the lead environmental policy person for the organization sponsoring your event and determine, with his or her help, how to incorporate such policies within the event environment. Don't change your policies simply to satisfy budgetary considerations for the event.

RECYCLE YOUR SUCCESS

To ensure that events enjoy sustainable growth, it is important for you to establish your own environmental policies that will demonstrate to potential event sponsors your knowledge and sensitivity regarding these issues. Instead, look for creative solutions such as finding a sponsor for the recycling station to ensure that your environmental ideals are well protected at each event.

INSPIRATION AND PERSPIRATION

Now it's time to add the cardiovascular system to give and keep the event alive. This is the beginning of the life of the event and the main body that will maintain this life is the strategic plan of the event.

EVENT STRATEGIC PLANNING

The goals and objectives identified in the research phase represent the skeletal structure of an event's anatomy, and the flexible elements identified in the design phase represent the musculature needed to move the event research forward.

PLANNING TO PLAN

Final review of the plan to check for any illogical elements, gaps, oversights or otherwise.

CONFIRMING VALIDITY, RELIABILITY, AND SECURITY

THE TIMELINE

Before distributing the final copy, the Event Manager must seek consensus among all stakeholders before codifying the final results. The timeline provides the event manager and event stakeholders with a precise tool to manage the event.

PROFESSIONALISM AND INTEGRITY CREATE A LEGACY OF LEADERSHIP

Who are some of the key informants for your event and why should they be included in the planning meeting. Outline the planning process and show the connections between the planning steps and the goals and objectives of the event.

MANAGEMENT OF HUMAN RESOURCES

If you can manage your time and people in today's event environment, your chances of surviving and succeeding as an event manager in today's fast-paced world skyrocket. It is very important to evaluate the existing situation objectively and think about what in your internal organization needs more improvement and what you can do to contribute to this improvement.

HUMAN-RESOURCE MANAGEMENT

Under these circumstances, it is more important than ever to motivate your employees and offer various soft benefits in addition to monetary rewards. In many cases, you can greatly encourage your employees by creating growth and learning opportunities, supporting promotions and creating valuable titles.

CELEBRATING YOUR SUCCESS

With the rapid growth of the global economy, employee turnover in many areas, including the Event Management area, increased enormously. It ends up having a pretty positive impact,” suggests McHale (Washington Post, March 18, 2001).

VOLUNTEER COORDINATION

Ron Thomas, CEO of the Tennessee Walking Horse National Celebration, coordinates dozens of community organizations, such as the Kiwanis, that make concessions for his events. The on-site management of volunteers involves coordinating their work performance to ensure you achieve the goals of the events.

CONTRACTING TEMPORARY EMPLOYEES

TIME MANAGEMENT

THE ORGANIZATIONAL CHART

If an employee is overscheduled with work and is physically unable to complete it due to lack of assistance, that employee will likely quit and look for another job.

Figure 4-2 Dynamic Organizational Structure
Figure 4-2 Dynamic Organizational Structure

DEVELOPING POLICIES, PROCEDURES, AND PRACTICES

Assign experts in a variety of event areas, including volunteer coordination, risk management, sponsorship and more to help you review and create the final draft of your policies and procedures. Make sure your policies and procedures are fully compliant with local, state, provincial and federal laws.

EAST MEETS WEST IN EVENT LEADERSHIP

Attendees will include, but not be limited to, trusted members of the media, members of the board of trustees and invited guests. The chairman of the board of trustees will serve as the official spokesperson of the event organization at all media conferences.

FINANCIAL ADMINISTRATION

The most common deficiency I have identified in all Event Managers is related to the area of ​​financial management. Regardless of whether you use the services of a professional accountant and/or bookkeeper, knowledge of financial management is essential to the modern Event Management practice.

BUDGETING

These events are usually organized for the purpose of advancing a cause or agenda and are not designed to break even or generate a profit. First, determine what the financial philosophy of your event is before beginning the budgeting process.

FINANCIAL HISTORY

If your event is a charity, your financial philosophy will differ significantly from that of a commercial venture. The type of financing you have chosen to finance your event (borrowed funds, prepayments, existing funds).

THE GENERAL ECONOMY

REASONABLE PROJECTED INCOME

TYPICAL INCOME CATEGORIES

EXPENSES

STRUCTURING ACCOUNT CODES

FINDING AND SUPERVISING AN ACCOUNTANT

ACCOUNTING SOFTWARE

I encourage you to spend some time familiarizing yourself with the basic functions of this software. First, make sure you always back up your data to a disc and keep this information in a safe, fireproof location.

PRODUCING PROFIT

Then regularly send a copy of your data to your accountant so he or she can prepare your monthly, quarterly and annual financial reports. Finally, consult with your accountant to determine the best type of software to invest in, since to a large extent you will be partners, and you should be using software that will allow you to communicate effectively on a regular basis .

FIXED OVERHEAD EXPENSES

If an event manager arranges a local band to entertain guests, the price for this entertainment is fixed. The catering company has given the Event Manager its price quote of $25 per person for food and.

VARIABLE EXPENSES

In order to lower your cost of operations, it is essential that you try to reduce your fixed overheads. Expansion brings with it increased cost of sales, and increased cost of sales means you have to produce much greater revenue.

NET PROFIT VERSUS GROSS PROFIT

This means that your ability to use historical data to project the volume of items you will need, or to order less with an option to receive additional supplies quickly, will greatly help you reduce your variable or direct expenses. In addition, your ability to negotiate the best deal for your event organization will also have a tremendous impact on these items.

BREAK-EVEN POINT

Due to last-minute registrations and an increase in walk-ins for a variety of events, it is extremely difficult to wait until the last minute to order certain items.

CUTTING COSTS

ENSURING POSITIVE EVENT CASH FLOW

The other half requires you to familiarize yourself with typical liability contracts and learn how to negotiate the best possible payment terms. The best policy is to collect the cash as quickly as possible, but pay the bills on the last day the contract allows.

ACCOUNTS PAYABLE: FINDING THE BEST TERMS

TYPICAL ACCOUNTS-PAYABLE CUSTOMS

The final custom is for the vendor to provide credit to your organization so that you can approve purchases and be billed at a later date by the vendor. This is the best scenario as you are able to negotiate credit terms well in advance.

NEGOTIATING ACCOUNTS PAYABLE

While most bills are due within 30 days of the invoice date, I've heard of some schemes where the seller extends the credit for 60 or even 90 days to maintain the bill.

CONTROLLING PURCHASES

COMMON EVENT FINANCIAL CHALLENGES AND SOLUTIONS

After he or she matches the amount of the draw, the grant stops and the sales person receives only sales commission. Food and beverages you buy in the United States or elsewhere are often produced outside the country where they are sold.

MARKET CONDITIONS

GOVERNMENT POLICY

The exchange rate is the price of one currency expressed in another currency. The question is how attractive the project would be if the rate were to change before 20 December.

Figure 5-4 shows how this change could dramatically reduce your margin of profit. Due to the exchange-rate change in December, £200,000 will be worth only $300,000 but total expenses are still $500,000 (since they occurred in U.S
Figure 5-4 shows how this change could dramatically reduce your margin of profit. Due to the exchange-rate change in December, £200,000 will be worth only $300,000 but total expenses are still $500,000 (since they occurred in U.S

TYPICAL EVENT BUDGETS

The role that international finance plays in the events industry has been highlighted by the changes that have taken place in the industry since the North American Free Trade Agreement (NAFTA) was implemented. Major labor-intensive industries were relocated to Mexico due to labor cost savings.

Figure 5-5 (Continued)
Figure 5-5 (Continued)

CONTROLLED CREATIVITY LEADS TO FINANCIALLY SUCCESSFUL EVENTS

The event received national media coverage and was repeated the following year.” One of the ma-. Your event management organization is willing to accept a project if the total gross profit of the event is greater than $5,000.

EVENT LEADERSHIP

The global event manager must be a leader and he or she must wear many hats in various leadership roles. How much command and control must the Event Manager give up if he or she wants to become an effective Event Leader.

LEADERSHIP STYLES

This group is too busy fighting each other to achieve the objectives required by the event. Each of these event management styles plays an important role in the event management process.

DEMOCRATIC STYLE

The autocratic group can barely decide how to place their Popsicle sticks, due to disagreements and arguments over turf. The laissez-faire group constantly arranges and rearranges their Popsicle sticks because without clear instructions or help, they have trouble reaching consensus, and their Popsicle sticks demonstrate this confusion.

AUTOCRATIC STYLE

The arrangement of the popsicle sticks is a dramatic representation of the effectiveness of their process.

LAISSEZ-FAIRE STYLE

When faced with this scenario, move quickly to empower others on the team to assist this person in decision-making to ensure event goals and objectives are met. All events of material importance have such a document, and it helps to manage the decision-making of the event.

LEADERSHIP CHARACTERISTICS

INTEGRITY

CONFIDENCE AND PERSISTENCE

COLLABORATIVE DECISION MAKING

PROBLEM SOLVING

Make sure you thoroughly understand the size, scope and time sensitivity of the problem. Finally, the solution to the problem (cancelling the bonfire for a period of years) should be monitored to determine if other challenges occur as a result of the solution.

COMMUNICATION SKILLS

But unless problems are dealt with effectively and appropriately, they can easily escalate to a level that threatens the reputation of the event. Once the reputation is damaged or destroyed, it can be difficult to maintain the future of the event.

VISION

The professional event coordinator must be flexible, energetic, well-organized, detail-oriented and a quick thinker. As a professional event coordinator, you need to understand the integrated processes, plans and capabilities specific to each event you coordinate so that you become a better planner, producer, buyer and partner in delivering the special event experience that exceeds expectations.” .

THE EVENT LEADERSHIP FACTOR

GRACE, DIPLOMACY, AND COURAGE ON THE EVENT WORLD STAGE

Hình ảnh

Figure P-7. Portrait of an Event Leader
Figure P-7. (Continued)
Figure P-7. (Continued)
Figure 1-1 A Decade of Change
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