corporate event help companies reach their business goals | My Assignment Tutor

1Corporate EventManagementWeek 5.Presented by: Carlos Gomez2Learning Outcome 2: Evaluate howdifferent types of corporate event helpcompanies reach their business goals“Related to P3, M2 and D2: Review a range of different types ofcorporate events and assess how they meet different strategicfocus and goalsTable of Content 3BUSINESS GOALS ANDOBJECTIVESSTRATEGIC VERSUS TACTICAL APPROACHES TO ACHIEVEBUSINESS GOALSRELATIONSHIP BETWEEN BUSINESS GOALS ANDCORPORATE EVENTS4BUSINESS GOALS ANDOBJECTIVESIntroduction 5The Corporate Planning Cycle6Successful businesses are based on both goals andobjectives, as they clarify the purpose of the business andhelp identify necessary actions.Goals are general statements of desired achievement,while objectives are the specific steps or actions you taketo reach your goal.Both goals and objectives should be specific andmeasurable.Goals can involve areas such as profitability, growth andcustomer service, with a range of objectives that can beused to meet those goals.Goals and ObjectivesBusiness Profitability Objectives 7A common business goal is to run a profitable operation, whichtypically means increasing revenue while limiting expenses.To reach this goal, objectives could consist of increasing annualsales by 10 % or landing three new accounts each month.Expense objectives could involvefinding a new operating facility thatdecreases your rent by $200 amonth or cutting monthly utilitybills by 15 %.8Customer service goals could include reducing complaints by 50 % overone year or to improve resolution times to customer complaints to aminimum of one business day.Customer Service ObjectivesTo meet customer service goals,objectives could include increasingyour customer service staff from oneto three workers by the end of theyear or implementing a policy wherecustomers are guaranteed to receivea return phone call before the end ofthe business day.Retention of Employees 9If you’ve experienced a problem with employeeturnover, your overall goal could be to improveretention.To make this goal specific, youcould measure the currentturnover rate, like one employeein five leaves after threemonths, and decide to doublethis figure to six months.Retention of Employees 10Objectives to meet this goal could include implementinga training program that details new-hire activities for thefirst 90 days on the job.You also could implementone-on-one bi-weeklymeetings with youremployees in an effort tobuild rapport and find outwhat’s on their mind.Efficiency of Operations 11Another goal could be to become more efficient in your businessoperation as a way to increase productivity.To improve efficiency, you could set a goal of increasing shippingtimes from three days to two days.Objectives to meet this goal could include finding a new shipper, orimproving production times to have units ready to ship before 10 a.m.each morning.12Perhaps your goal is to grow yourbusiness operation.If you own a franchise unit, for example,your goal might be to open three moreunits within a five-year period.If this was the case, your objectivescould include scouting a new city onceeach quarter, or reducing your franchisefees by 25 % for the next six months.Growth of the Business13STRATEGIC VERSUS TACTICALAPPROACHES TO ACHIEVEBUSINESS GOALSStrategic Planning 14Have you ever been involved in an organization or business that never seemsto accomplish very much? Regardless of how hard you work, you just go incircles.The problem may be thatyou have not decided whereyou want to go and have notcreated a roadmap of howto get there.15Strategic PlanningVision – Big picture of what you want to achieve.Mission – General statement of how you will achieve the vision.A companion statement often created with the vision and mission is astatement of core values.Core Values – How you will behave during the process.Once you have identified what your organization wants to achieve (vision) andgenerally how the vision will be achieved (mission), the next step is to developa series of statements specifying how the mission will be utilized to achievethe vision:Strategic Planning 16Strategies – Strategies are one or more ways to use the mission statementin order to achieve the vision statement. Although an organization will havejust one vision statement and one mission statement, it may have severalstrategies.Goals – These are general statements of what needs to be accomplished toimplement a strategy.Objectives – Objectives provide specific milestones with a specific timelinefor achieving a goal.Action Plans – These are specific implementation plans of how you willachieve an objective.17RELATIONSHIP BETWEENBUSINESS GOALS AND CORPORATEEVENTSRELATION BETWEEN GOALS AND CORPORATE EVENTS 18 GOALOBJECTIVEACTION PLANCORPORATEEVENTINCREASE PROFITMARGININCREASE SALESVOLUME BY 20%IN 12 MONTHSMARKETINGDEPARTMENTWILL CREATE ANDIMPLEMENT APLAN TOINCREASE SALESIN THE NORTHLONDON REGION Strategic Planning 19Corporate event examples 20A CARNIVALCorporate event examples 21A CARNIVALThe benefit of this type of corporate event is that it gives you thechance to scale it for your needs, a small carnival theme could beset up at your premises while a larger event could be hosted in thegrounds of an event location.To thank the people that post reviews on GoogleMaps, Google hosted a carnival for their Google City Experts and itcertainly impressed everyone that was lucky enough to be invitedCorporate event examples 22A CONFERENCECorporate event examples 23A CONFERENCEAnother excellent idea for your next conference is to transform theconference theatre. For example, a TEDx talk took out theuncomfortable chairs and replaced the seating with bean bags. Forevents where there will be long speeches, your guests will definitelyappreciate feeling comfortable and relaxed. Add in some great foodand drink choices, perhaps even waiting staff service for the eventand you will definitely have people returning year on year.Corporate event examples 24Jump on the bandwagonCorporate event examples 25Jump on the bandwagonDuring HBO’s Game of Thrones inspired event, guests could seaton the famous Iron Throne and there were plenty of photoopportunities for guests to become their favourite characters andtravel to the many locations without leaving the room.When choosing your theme, try to tie in food, activities and themesto make the whole event come together cohesively.26REFERENCESLeonard H. Hoyle, CAE, CMP, Event Marketing. JOHN WILEY & SONS, INC.Dr. Abbas Ghanbari Baghestan, Factors Influencing Media Choice for Interact with Their Students among Lectures ofTwo Academic Institutions. Department of Communication, Universiti Putra MalaysiaBruce E. Skinner and Vladimir Rukavina, Event Sponsorshiphttps://www.slideshare.net/tutor2u/corporate-planning-12281004