Events: Event Management Essay

proceeds in a single word means a hazard. There be m any(prenominal) in our lives. Many of them personal and legion(predicate) relating to a trade. While traveling to work you powerfulness incur or meet a celebrity. It is an core for you. At work you might get a promotion. It is an compositors case. Your company merges with a multinational corporation. It is an event. On your addression back from work you meet your former sweet heart and submit coffee with him/her. It is an event. When you return home your spouse informs you that the neighbors daughter ran off with your cook. It is an event.What is vigilance? Management is the efficacy of an individual or an organize group to come through the result desired by the individual/group within the orbital cavity of constraints imposed by the midland and external surroundings.A working agree desire to own a house and a motorcar from their earnings. The internal environment is, what is their disposable income, what ar t heir current savings, how much more burn down they save, what is the area of house they desire and which type of car. sewer they adjust to the overbold bureau of drawing less without any internal disputes between them? Can they take on the added responsibilities of paying EMIs for both the new assets? And many more questions & issues. The external environment is the presumption of no increase in taxes, stability of employment, availability of loans for both assets at reasonable rates of interest, equal of both the assets as envisaged and other related issues.If both match considerably you have managed your personal objectives. However, if you find that the internal environment result in a mismatch of cash flow you may drop the appraisal of buying a car initially or you may define to buy a smaller house or may dissolve to shift your residence to distant suburbs or may settle to evade your decision of purchase to another period till the internal environment is more conduci ve. You have once again been managed by a diversity / alteration in personal objectives.In business the situation is the same. You necessity to start your own business in events. Your internal environment is. Your ability to bring in capital. Your ability to raise loans. Your connections with the pains, your leadership, foodstuffing, financial abilities, your vision, your objectives, your objectives, your place to do the business, your staffing capabilities , your ability to take risks and other related issues. The external environment lead be Competition in the industry, Stability of the macro economic factors, the spend on the event business/industry, availability of competent Staff at the right costs, availability of the right office, godown, workshop space to suit your budget, the willingness of contacts to mesh topology for your cause, availability of finance at right rates, legal aspects of event business and other related issues. If both your internal and external envir onment suits your situation you are in the event business or for that matter any business.If the law bans entertainment events you may change your objectives and do only unified/religious events. IF workshop space far exceeds your budget cost you may outsource parts of production to production house you have managed.Event Management Event Management means and includes strategically and competently managing an organized happening so that the goals/objectives/ exercise of holding that event are considerably achieved by allocation of resources on hand so maximum payoff both economic and strategic is achieved.An event is generally blueprintned rise in advance in a logical and coordinated stylus as there are no retakes in an event. In many cases Event Management is synonymous with Disaster Management. In an event disaster is waiting to happen. A planned well coordinated event averts or at best mitigates a disaster.Event Management fundamentally is part of a selling exercise. We ar e sensible that market is categorize into Indirect Marketing and Direct Marketing. Indirect Marketing is essentially advertise and publicity. The message is intercommunicate to the world at large which includes that piece of the market which is prospects and probable converts to the brand/product/service advertised and/or publicized. The cranial orbit of advertising/publicity is substantial and a variety of mediums are use to solicit custom of the world at large. It has proved substantially telling which is evidenced by huge spends on advertising more specifically by corporate and business.As opposed to that, Direct Marketing is addressed to a specific audience or a rump segment, be it in the form of Direct Mailers, Tele Marketing, P.R. Meets, Salesmanship, Emails and Events. In case of Direct Marketing the focalization is clear and the audience/ arse is specific.Event Management as Part of Direct Marketing Designing and producing an event whether it be a meeting, corpora te event, fund-raising gala, conference, convention, incentive or other special event such(prenominal) as a wedding has been compared to directing a movie and is actually more like a live stage production. It is do in one take and there no dress rehearsals.An event is the reflection of the corporate entity. It is part of the direct marketing the corporate has programmed. It gives direct access to the target market which it needs to address, be it a gross revenue conference, a fund raiser, a religious sammellan, a road utter or any other event. An event gives the corporate a focus on the right audience and keeps in making the audience aware of the policies, programs, the marketing of ideas to this target group. There is a direct exchange of data between the corporate and its target audience. It creates a bond between the worry and the audience for whom the event has been organized. An event is that aspect of Direct Marketing where the dis persist it proposes to convey is not di ssipated nor it is to the world at large. It is narrowed to that segment or group with whom the corporate/management needs to identify with.Events are big business the world over and there are skipper firms who organize the set up of such events. Events actually flow from the marketing or the corporate team up in any large organization. It is these teams that decide whether an event will help in furtherance of the marketing plan and how and to whom the event needs to be addressed. Once the holding of an event is indomitable upon, the major part of organizing of an event is looked into. This will include the theme, the place and the logistics. And of course the budget.In India the event industry is in a nascent stage. The industry is disorganized and every individual who organizes a birthday party classifies himself as an event manager. There are very few firms in the pastoral who organize and set up events as professionals with a proper vision, infrastructure, systems and person nel. set figures are not available but it is estimated that corporate spends are roughly Five Thousand Million rupees in the organization of events annually and with globalisation and influx of multinationals the industry is expected to grow at a phenomenal 50% per year.The first series of questions the corporate management/marketing team needs to ask are 1. Should I hold an event? 2. Which target group needs to be addressed at the event? 3. What are the funds required to stage an event? 4. Can the company pay to set aside part of the marketing budget for organizing an event? 5. Is the purpose of the event important to justify the outlay? 6. What would be the benefits accruing to me both financially as well as strategically?The same questions, in a different format, are applicable to noncorporate events. Take Weddings for example. Wedding is a social/personal event. To put it in the humorous text it is a public display of a private intention. It has a target audience of friends, relatives and business associates. It has a theme, strategy and budgetary constraints. It is a happening of a lifetime, which should be remembered not only by the bridal distich and their immediate families but also by all the invitees. Many multiplication it is more complex in execution as compared to corporate events. It is estimated by India Today in one of its 2007 2008 issues, the Indian Wedding Industry to be worth about Rs 50,000 cores. This includes everything. From jewelry, to clothes, to food and beverage, venues, ceremonies of various events connect with the wedding.