LYNX INDIA Events Management ~ makes life simpler ~
Acknowledgement
We take this opportunity to express our deep sense of gratitude to all those who have contributed significantly by sharing their knowledge and experience in making this a dream come true and start our carrier as an Event Manager. We first word of gratitude is to Mr. Virender Singh , Managing Director, Royal Broadcasting; New Delhi. Mr. Bhupinder Jain & Ms. Sapna Jain (C.A.) for being our corporate guide and their kind help & support and for
their valuable guidance throughout the feasibility report of this firm. We are thankful to them for providing us with necessary insights and helping us out at every single step. Our heartfelt thanks to all the Faulty of Skyline Business School, without their continuous help this report would not have been materialized in the present form. Their valuable suggestions helped us at every step. Finally, we would also like to thank all our dear friends for their kind cooperation, advice and encouragement during the long and arduous task of preparing this report and carrying out this move in the industry. And last but not the least, our dear family members whose blessings, inspiration and encouragement have resulted in the successful completion of this project. You are the biggest inspiration of my life. Thanking you all
Mandeep Singh Gulia (Founder & Director)
Pranab Kumar Singh (Director)
Table of Contents
Concept of Event Management
Career opportunities
Objectives of Event Management
Functions of Event Management
LYNX India Events Management
Strengths and Opportunities
Weaknesses and Threats
Research for LYNX India Event Management
Conclusion
Bibliography
CONCEPT OF EVENT MANAGEMENT Event management is the application of project management to the creation and development of festivals, events and conferences.
Event management involves studying the intricacies of the brand, identifying the target audience, devising the event concept, planning the logistics and coordinating the technical aspects before actually executing the modalities of the proposed event. Post-event analysis and ensuring a return on investment have become significant drivers for the event industry. The recent growth of festivals and events as an industry around the world means that the management can no longer be ad hoc. Events and festivals, such as the Asian Games, have a large impact on their communities and, in some cases, the whole country. The industry now includes events of all sizes from the Olympics down to a breakfast meeting for ten business people. Many industries, charitable organizations, and interest groups will hold events of some size in order to market themselves, build business relationships, raise money or celebrate. Event management is considered one of the strategic marketing and communication tools by companies of all sizes. From product launches to press conferences, companies create promotional events to help them communicate with clients and potential clients. They might target their audience by using the news media, hoping to generate media coverage which will reach thousands or millions of people. They can also invite their audience to their events and reach them at the actual event.
Event management companies and organizations service a variety of areas including corporate events (product launches, press conferences, corporate meetings and conferences), marketing programs (road shows, grand opening events), and special corporate hospitality events like concerts, award ceremonies, film premieres, launch/release parties, fashion shows, commercial events, private (personal) events such as weddings and bar mitzvahs. Clients hire event management companies to handle a specific scope of services for the given event, which at its maximum may include all creative, technical and logistical elements of the event. (Or just a subset of these, depending on the client's needs, expertise and budget). Event Management is a multi-million dollar industry, growing rapidly, with mega shows and events hosted regularly. Surprisingly, there is no formalized research conducted to assess the growth of this industry. The industry includes fields such as the MICE (Meetings, Incentives, Conventions and Exhibitions), conferences and seminars as well as live music and sporting events. The logistics side of the industry is paid less than the sales/sponsorship side, though some may say that these are two different industries. There are an increasing number of universities which offer courses in event management, including diplomas and graduate degrees. In addition to these academic courses, there are many associations and societies that provide courses on the various aspects of the industry. Study includes organizational skills, technical knowledge, P.R., marketing, advertising, catering, logistics, decor, glamour identity, human relations, study of law and licenses, risk management, budgeting, study of allied industries like television, other media and several other areas. Certification can be acquired from various sources to obtain designations such as Certified Trade Show Marketer (CTSM), Certified Manager of Exhibits (CME), Certified in Exhibition Management (CEM), Global Certification in Meeting Management (CMM), Certified Meeting Professional (CMP) and the Certified Special Event Professional (CSEP).
CAREER OPPORTUNITIES
1. Event Management 2. Event Management Consultancy 3. Hotel, travel and hospitality Industries 4. Advertising Agencies 5. Public Relations Firms 6. Corporations 7. News Media 8. Non-profit organization 9. Integrated Marketing & Communications 10.Event Budgeting and Accounting
Events can be classified into four broad categories based on their purpose and objective: 1. Leisure events
E.g.: Leisure sport, Music, Recreation. 2. Cultural events
E.g.: Ceremonial, Religious, Art, Heritage, and Folklore. 3. Personal events
E.g.: Weddings, Birthdays, and Anniversaries. 4. Organizational events
E.g.: Commercial, Political, Charitable, Sales, Product launch, Expo’s.
OBJECTIVES OF EVENT MANAGEMENT The goal of Event Management is to provide the capability to detect events, make sense of them and determine the appropriate control action. Event Management is therefore the basis for Operational Monitoring and Control. Event Management should be utilized to detect and communicate operational information as well as warnings and exceptions, so that input can be provided for reporting the service achievements and quality levels provided. It may be used for automating routine activities such as backups and batch processing, or dynamic roles for balancing demand for services across multiple infrastructure items/sources to improve performance. There are many different types of events, for example:
* Informational events that signify regular operation (e.g. A scheduled backup occurred successfully)
* Exception events (e.g. A scheduled backup failed)
* Warning events that signify unusual but not exceptional operation. These are an indication that the situation may require closer monitoring (e.g. No backup initiated within last 72 hours). As the event management industry grows and consolidates worldwide, associations play an increasingly significant role in professional support to the industry by ensuring the continued growth and success of event management professionals. Although there are many events, which are successfully crewed by volunteers, the increasing competition to secure major events is giving some impetus to the trend to create fully
professionalized events (Getz, 1997). Volunteers continue to play a significant role in the management and organization of events, nevertheless, the industry is increasingly relying on well educated, experienced and professional event managers. A study identified 147 professional associations worldwide involved with event management. While this list is not exhaustive, it provides a very strong sample of event management associations. They were located using a variety of sources such as the internet, industry and personal contacts. Rather than use or adapt an existing framework for analysis, the study applies a grounded approach to the analysis of the content of the goals and objectives. That is, the categories of meaning were developed from an analysis of the data provided rather than imposed by an existing typology from the literature. These associations were categorized by location, including international, regional and special interest associations with numerous subcategories. Regional associations were divided into continents so that there were six subcategories, the North American, European, Asian/Pacific, United Kingdom, South American and South African. The special interest associations were included as there were a number in the sample that did not fit within the first two categories, yet they were deemed significant to the study because they dealt with event management issues within the context of a specific industry. The study concludes that event management associations have a strong record in developing goals and objectives as part of their operational framework. The key variables that emerged are: information exchange, education and training, identity and recognition, ethics and standards, networks and collegiality, business management, membership, premier representative association, product development and being a change agent.
INTRODUCTION Event management has emerged over the past decade as a dynamic sector of the tourism and leisure industries. The number, diversity andpopularity of events has also grown throughout this period. As the number of events increase, there is a growing realization about the continuing need to develop event management professionals who are able to create, organize and manage events. Although many events are successfully crewed by volunteers, increasing competition to secure major events is giving greater impetus for the need to create more fully professionalized events . Volunteers continue to play a significant role in the management and organization of events; nevertheless, the industry is increasingly relying on well educated, experienced and professional event managers.
METHODOLOGY For the purposes of this study an event management association was defined as one that responds to one or more of the sectors of the event industry such as festivals, tradeshows, exhibitions, incentives and meetings. Figure 1 provides a breakdown of the categories of event management associations, however, it is acknowledged that these associations will overlap in some of the categories and were analysed according to the title of the association. This study identified 147 professional associations worldwide involved with event management. While this list may not be exhaustive, it provides a very strong sample of event management associations. The associations were identified by conducting searches via the Internet, in the academic literature, and from trade journals and personal contacts. Specific associations were contacted by letter or email to inform them of the study and to seek their involvement.
Figure 1 Breakdown of Event Management Association by Category
Category
Exhibitions & conventions Meetings & conferences Centers Associations Travel Festivals
Exhibitions & Conventions
:
42%
Meetings & Conferences
:
23%
Centres
:
9%
Travel
:
10%
Associations
:
9%
Festivals
:
7%
Content analysis was used in this study because it is a multi-purpose method that is useful for investigating a wide range of issues in which the content of communication serves as a basis of inference (Weber, 1985). It is an appropriate methodology to achieve authenticity and validity in the type of qualitative data this study gathered. It did not use nor adapt an existing framework for analysis of the content of the goals and objectives. That is, the categories of meaning emerged by identifying recurring themes
in the data rather than being imposed by an existing typology from the literature or a preconceived framework developed specifically for the research. Eighty percent of the associations (117) responded to requests for information. Of these associations, 49% (72) had goals and objectives already posted on their websites and a further 5% (7) sent publications outlining their goals and objectives. Although approximately 20% (30) of associations were not able to be contacted for various reasons, the goals and objectives procured provided a very strong representative sample.
FINDINGS AND DISCUSSION The analysis of the data found that there were ten variables of goals and objectives that event management associations displayed. These variables and their factors; include:
Identity & Recognition
:
48%
Ethical Standards
:
44%
Networks & Collegiality
:
43%
Business Management
:
29%
Education &Training
:
48%
Product Development
:
25%
Change Agency
:
4%
Information Exchange
:
51%
Premier Representativeness
:
27%
Membership
:
28%
Strengths/Opportunities
The strengths component of the analysis should identify the broadcasting industry’s internal strengths, such as where the industry excels compared to other industries, and how it is maximizing its physical resources and personnel. For example, this section may list low staff turnover, high staff morale, low overhead, high profit margins, multiple revenue streams, product and service diversification and a sustainable business model.
The opportunities component should list how the industry could grow or expand. The items listed in this section tend to be environmental factors that can be leveraged by the previously listed strengths. For example, opportunities may include rising marketing budgets, large client bases, a growing economy, a larger number of media outlets, lower advertising rates or new advertising mediums. It’s important to note that these examples are listed as opportunities, but some could also be listed as threats, depending on the circumstances of each individual agency.
Weaknesses/Challenges
The weaknesses component should identify the advertising industry’s int ernal weaknesses, such as where improvements need to be made and where physical and human resources are not being maximized. For example, this section may list low client satisfaction, high production costs, low return on investment (ROI) or an untrained or aging employee base. These examples may not apply to all advertising agencies, but for a SWOT analysis of the industry, these examples would be generalizations of the industry.
The threats listed on a SWOT analysis should list the external elements of the advertising industry where the industry could potentially be harmed. The features listed here should be areas of the industry where outside forces could possibly harm current growth or even harm the status quo. For example, threats listed could include a shrinking economy, less demand for marketing services, higher health care costs or a change in tax legislation.
Conclusion
India is one of the most promising emerging advertising markets in the world.
The major drivers include sound economic fundamentals, a rising middle growing company, an improved regulatory framework and rising risk awareness.
The Indian advertising sector is rapidly moving towards international standards of free (risk-based) market pricing and innovative product offerings. Big changes have occurred over the last few years, during which the sector was opened to private participation.
“The task ahead is tough but not impossible.”
BIBLIOGRAPHY Websites:
1. http://www.royalbroadcasting.com 2. http://www.manfrotto.com 3. http://www.google.com 4. http://www.pro-x.biz 5. http://www.hprc.it 6. http://www.wise-advanced.com.tw 7. http://www.wikipedia.org
