Management of Event Operations - Research Proposal Example

Event management has developed to be a major trade. Due to the size, scope and complexity of events, the services of event manages are required. Although the main role of an event management is to plan and coordinate an event, they also manage the commercial aspect of the event. For an event to be successful, funding is required. Sponsorship is the main source of funding for an event. Before sponsorship, both the event manager and sponsors evaluate the benefits to be derived from the sponsorship. Despite this, it is the responsibility of the event manager to ensure harmonious sponsorship. The sponsorship should take into consideration the continuous funding of the event and the value and goals that should be met. Commercialisations of events have led to the compromise of values in event managements and have led to failure in some events. The project proposal aims at evaluating the challenges faced by event managers in handling sponsorship. It also aims at coming up with better strategies to improve sponsorship. Event management: Finance and Marketing: Event Sponsorship Working Topic: An analysis of event sponsorship Rationale for the study Case Event management is a task that has a long history. Today, various events are held. The events range from games, festivals, concerts, meetings to political rallies. Up to these days, events remain an important part of people's culture and help social development of people. For their success, these events need to be managed. In managing events, sponsorship is very important. It should be noted that managing events is expensive and needs funds. Sponsorship of an event is not just as way of raising funds for the events, but it also entails marketing. The finding of sponsors, choice of sponsors and managing marketing and commercials should be an integral part of event management. Management problem Sponsors are important in event management. Good management of sponsors is lacking in event management. It should be noted that events are very important elements to people's culture. A successful event should send the required message or meet the desired goals (Allen, Bowdin, 2006, pp123). It should be noted that there are different categories of sponsors. Some sponsors are not motivated by business while others are motivated by business and aim at marketing their products. In managing sponsors, some event management conflict over the amount allocated to a certain sponsor and the recognition of the sponsor as a sponsor to an event. Poor management of sponsor could explain the conflict in events and the inability to sustain a sponsor for a long time. Lack of good sponsorship management also leads to failure of some events. Research Question Which and how important is the role of sponsorship in an event management context Aim and objectives Managing a sustainable fund is a principle element of event management. Sponsors are the main sources of funding to an event and they should be well managed. The management of sponsorship should ensure a sustainable fund and at the same time maintain the integrity of the event (Cornwell, Amis, 2005). The research will establish the problem encountered in managing sponsorships and come up with a better way of managing the sponsors. The project will also establish things which people managing events can do to ensure sustainable fund for events. Literature review Events are an integral part of communities. In the early days, every community had its own events and activities. The events were great opportunities for social development and development of cultures. It was also a great opportunity for interaction, communication and development of leaders (Berkowitz, 2008). In the past, the major activity had either cultural or religious base and involved people from a given geographical region. Although cultural and religious events remain important today, events have taken different perspectives including people from various cultures and large geographical regions. Small events are not involving and their management is simple; however, as events become larger, the management becomes complex (Allen, Bowdin, 2006). Event management as a trade developed as a result of complexity of events and involved various aspects of events. Unlike historical events, one of the major aspects of event management is sponsorship (Cornwell, Amis, 2005). Sponsors for an event are required to ensure funds are available for the events. The other aspect of event management not found in historical events is commercialization of the events. In most events, sponsorship and marketing go hand in hand and are very important to the event's success. Today, event management is a major trade and involves quite an amount of money. There are various events that need the services of event managers. In all the events, event management aims at controlling the process, purpose and the people. The activities involved in managing and events include: finding and organizing the participants, finding sponsors, structuring the timetable of events, running public awareness campaigns, and selling tickets. Events can be grouped according to their objectives and they range from individual, family and even globally (Tum, Norton, Wright, 2006). The activities involved in event management depend on the objective and size of the events. The events may range from cultural, musical, sporting, personal, marketing, political and corporate. The planning and organizing of events depends not only on the type of event but also the size and scope (Berkowitz, 2008). For example, an event that involves many people across many parts of the world will require longer time of planning and should involve people from all origins of anticipated participants. Among the complex areas of event management, sponsorship is one of the major challenges. Sponsorship for an event ranges from cash to in-kind support such as products and services. Sponsorship is a key factor to the success of an event as it is the main source of revenue. Event managers are responsible for ensuring continuous funding to an event. Thus, the manager is responsible for identifying and choosing a sponsor. They are also responsible for preparing the sponsorship proposals. Most events are continuous; they need continuous funding (Berkowitz, 2008). Thus, event manager are responsible for maintaining good relationships with the sponsors. Some sponsorship involves business and marketing. Thus sponsorship has developed as an important element in marketing communication. Most sponsors are willing to be associated with events that would enhance their marketing and withdrawal from events that they feel will have less commercial value (Allen, Bowdin, 2006). The event manager should be able to establish the required equilibrium between purpose of the event and the business involved. Failure by the event manager may lead to the purpose of the event to be overshadowed by commercials or lack of funding to the event due to lack of potential sponsors. Sponsorship brings benefits to both the sponsors and the event. In planning an event, sponsors are chosen depending on the benefits to be derived. On the other hand, potential sponsors to an event such as government media and corporate evaluate the benefits they would get by sponsoring an event (Raj, Walters, Rashid, 2008). Thus, events sponsoring bring mutual benefits to both sides. By choosing a good sponsor, event managers can attract participants and audiences and thus are able to get enough revenue. On the other hand, government sponsor may aim at passing certain information in form of public awareness. In such a case, the government sponsors should target events that will attract public attention. Corporate with commercial reasons pursue events that will give them commercial benefits. Despite the benefits that attract sponsorship, event managers have the responsibility of controlling the sponsorship. The purpose and integrity of events should not be compromised by the benefits. Events that are attractive to sponsors may lead to unhealthy competition. Event managers should manage the sponsorship properly to ensure less conflict and ensure long term sponsorship to the event. For successful sponsorship, event managers should develop good events for sponsorship strategy (Allen, Bowdin, 2006). To the event manager, this involves thinking deeply about the anticipated event, the potential participants and the potential sponsors. The event manager also considers the purpose of the event and the values that should be maintained on an event (Tum, Norton, Wright, 2006). Event sponsorship portfolio should be built. The portfolio should consider the hustles that are involved in each event. In the portfolio, the event organizer should match the sponsorship asset with the right sponsor. Among the potential sponsors, the event managers have the responsibility of screening the sponsor to come up with the best sponsors. The benefits of event sponsorship are great to both small and large companies. To a company sponsorship broaden its competitive advantage and help to improve the image and credibility. It should be noted that corporate sponsorship has developed to be a major means of marketing in the country. This method is preferred for it ability to keep good relation with the public (More business, 2007). The growth of sponsorship could be attributed to increase in small and medium-sized businesses in the country. The increase in institutions that are willing to sponsor event call for change on how event sponsorship is managed. Unlike the earlier trend where companies prefer to sponsor sporting and festival events, today there is willingness to sponsor other events such as walk for public awareness. Corporate responsibility to the public is observed to be the main drive for sponsorship. Issues such as environmental conservation are very important to the public. Sponsorship in such areas as environment events is a good idea for public relation. Event manager have the responsibility of ensuring that events are able to get sponsorship. In addition, they should ensure that the sponsors also benefit from the sponsorship to ensure constant sponsorship. The sponsor may not have the technical ability to choose the right event that would create a good image for the company (More business, 2007). Thus event managers should be able to keep and provide information of events to potential sponsor. The sponsors should also be informed on the public image created by sponsorship. In addition, event managers should also provide information to the sponsor on the condition of contract signed. Thus event manager should ensure harmony between an event and sponsors. Managing sponsorship is a vital activity of event management. An event cannot be successful without good funding. Funding is the principle element to an event and should be properly managed. Sponsorship also includes commercial benefits that may overshadow the purpose of an event. Good sponsorship management would thus lead to the continuous funding of an event, good returns in revenue and attainment of the purpose of the event. References Allen, Bowdin (2006):-Event management:-London:-Elsevier; Raj, Walters, Rashid (2008):-Event Management: An Integrated and practical approach:- SAGE Publications Ltd pp228-238 Cornwell, Amis (2005):-Global sport sponsorship:- Berg Publishing; pp 210-213 Tum, Norton, Wright (2006):- Management of event operations:- Butterworth-Heinemann; More business (2007):-Why Sponsorship Sponsorship Benefits & Event Sponsorship benefits:- Retrieved on 5th November 2009 from http://www.morebusiness.com/running_your_business/marketing/Sponsorship-Marketing.brc Berkowitz (2008):- Event Sponsorship;-Rochester Business Journal:-Vol. 2;-pp54 Read More