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Events Management_Evaluate the current level of understanding of Events Impact and Events Stakeholder Management and how it int - Essay Example
Pages 9 (2259 words)
The Current Level of Understanding of Events Impact and Events Stakeholder Management and How It Integrates Into the Events Management Process Introduction Any process of event management has four fundamental phases. These are: Definition Planning (Preparation) Execution (Implementation) Assessment (Evaluation) Any event organiser knows that there is a lot of information and numerous tasks that are usually carried out in the preparation of any prominent event…
Conversely, changing circumstances in each of the phases may require the events coordinator to re-visit previously completed duties. Stakeholders The complicated business environment compels event organisers to create relations with numerous stakeholders. These stakeholders each have their own desires, positions, and expectations, and businesses are confronted with stakeholder reputation risk if these requirements and expectations are not adequately addressed. Stakeholders can bring threats as well as opportunities for businesses. For example, if an organisation is well respected, stakeholders may give it more latitude to function. Conversely, a bad or lacklustre reputation can cause stakeholders to pass rules that make it harder for the organisation to carry out basic functions. Knowledge, reflection, and a basic comprehension of the desires of the organisation’s stakeholders and the reputation management procedures will profit any institution, in spite of its size or stature. There is no company that does not have stakeholders. The term ‘stakeholder’ refers to any individual or group that can somehow influence or is influenced by an institution’s actions, behaviour and performance. ...