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Practice Reading: Reading and Writing Fill in the Blanks
ID: #51195
Event Management
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Event management is particularly challenging from an operational viewpoint. In many cases, events are staged on sites where everything has been set up over a 24-hour period, with all elements carefully .In contrast, many events are years in the planning: large convention bids are often won five years before the event is held. For the very bidding process, budgets need to be developed and prices quoted, requiring a good understanding of market, economic and political trends, as well as consumer choices. This long-term view is the basis of strategic management, which is covered in Part 1, and focuses on the event concept, feasibility of the event, legal compliance and financial management. Marketing is a critical factor and other important topic of this first section, many events (sporting, cultural and arts) involving long-term sponsorship with key industry players. Relationship building is particularly since there are so many stakeholders involved in events, including government agencies at many levels. Part 1 will look at all these aspects, including strategic risk, before moving on to the second part where operational planning and implementation will be covered in detail.
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