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Event Management: Integration, Impact and Stakeholders - Essay Example

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This essay explores the current level of understanding of Events Impact and Events Stakeholder Management and how they integrate into the events management process (EMP). The impact of events on the sponsors and their interests is another phenomenon of vital importance…
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Event Management: Integration, Impact and Stakeholders
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Download file to see previous pages The paper tells that the modern world has embraced events in the corporate context for various goals such as entertainment, business promotion, and marketing. Other goals include brand publicity and income generation as well as encouraging investments in their various localities. Consequently, event management has grown to be a lucrative industry, as well as a professional discipline. Governments, corporations, individuals, and societies utilize events to fundraise, promote their business and investor/stakeholder agenda, and foster community development. Events can refer to notable occurrences that bear a considerable impact on a particular entity such as a society, business or interested stakeholder. In the modern era, events have acquired a multidimensional approach in the way they are organized and managed. Events are also examined based on their impact on stakeholders who include the society, a firm’s employees, clients and the general public. For instance, businesses and authorities recognize the importance of events such as festivals, corporate social responsibility drives, and marketing campaigns on share prices, sales volumes and public opinion. The field of events has developed to include organized conventions, trade expositions and fairs, festivals and international sporting events set up in pursuit of set stakeholder goals and objectives. In many instances, organized events are established on social platforms after which the social performance of the events is tied to economic outcomes. Businesses and governments often attempt to draw this linkage as a method of attaining their objectives that necessitated setting up of such events in the first instance. For example, the corporate social performance of events is related to the stakeholders’ management of events. This connection is aimed at creating better relationships between the corporate/business or government entity with the main stakeholders who include employees, clients, the general public and interested communities. Businesses and governments, therefore, aim to leverage their financial performance on these relationships in the hope that the returns will accord them a competitive advantage. ...Download file to see next pagesRead More
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