Event Industry Structure and Management

Event Industry Structure and Management

• Event Stakeholders: Event-specific bodies, foundations, and associations; event management companies; national, regional, and local authorities are involved.
• Event Purposes: Business (weddings, MICE), entertainment (music, sports, movies), educational (medical, agricultural), and social/cultural (art, charity, disaster relief) events all exist.
• MICE Events: Meetings (strategy discussions), incentives (reward programs), conferences (discussion & problem solving), and exhibitions (product displays) are common types of MICE (Meetings, Incentives, Conferences, and Exhibitions) events.
• Local Events: Focus on local audiences, community groups, and local infrastructure. Often around sports, culture, music, food, and traditions. Less sophisticated and marketed compared to other event types.
• Hallmark Events: Events that are widely recognized and associated with a specific location (e.g., Wimbledon, Carnival of Rio). They enhance the reputation of the venue and destination.
• Major Events: Large-scale events with substantial economic impact, attracting a large number of visitors and media attention (e.g., Tour de France).
• Mega Events: Events that significantly affect economies and global media, often involving bids and high economic yields for the host location (e.g., Olympic Games).

Event Management Concepts

• Stakeholders: Individuals or groups with an interest in a positive event outcome (host organizations, communities, suppliers, sponsors, media, staff, participants, clients, performers, communities, and government bodies).
• Internal Communication: Crucial for event success. Methods include face-to-face meetings, presentations, workshops, phone calls, team communication platforms like WhatsApp, virtual conferences, and shared collaborative tools.
• The 4 Vs of Service: Volume (number of outputs), variety (number of services), variation (changes in demand), and variability (personalization options) of services are essential in event management.
• Order Qualifiers (OQ): Minimum requirements for a product/service (e.g., Wi-Fi, breakfast, free cancellation, parking).
• Order Winners (OW): Factors that differentiate a product/service from competitors, leading to purchase decisions (e.g., flexibility, speed of service, dependability).
• Capacity: The rate at which an operation transforms inputs into outputs in a given time period (time available / time of task).

Event Capacity Management and Challenges

• Event Capacity Constraints: Physical limitations, financial constraints, labor shortages, legal requirements/laws.
• Importance of Capacity Management: Ticket sales, crowd management, safety/security, legal requirements, efficient resource use, maximized revenue, scalability, and maintaining brand reputation.
• Methods to Match Capacity with Demand: Adjusting staffing, equipment, processes, product design, or adding flexibility/closing facilities.

Porter's 5 Forces and Supply Chain Management

• Porter's 5 Forces: Threat of new entrants, threat of substitutes, bargaining power of buyers, bargaining power of suppliers, and degree of rivalry affect the competitive landscape.
• Supply Chain: The sequence of processes in producing and distributing a commodity (raw material procurement, transformation to a finished product, and distribution).
• Supply Chain Stages: Product development, sourcing, production, logistics.
• Supply Chain Functions: Aligning flows, coordinating processes, managing resources, designing complex systems, and integrating functions are essential for efficiency.