BASIC STRATEGY IN CORPORATE EVENT MANAGEMENT (Guide for Nigerian Event Firms)

ABSTRACT
Strategy as a concept has practically turned to be the focal point in today’s business life and it plays remarkable impacts in event tourism. This piece of work is a purposeful made handbook for both classroom study and firms especially in Africa, Nigeria. It has been made with the aim to create a better platform use in corporate event management in Nigeria. Nigeria is a country with big market in the area of event management and customers are becoming too demanding on the kind of event they want. This thesis will also serve as steps to satisfying the high demand by these event customers in Nigeria

In this thesis there are three parts: the introduction, the theoretical framework, and the empirical study, The introduction gave the overview of Nigerian market and how demanding some services like event management is. Then, theoretical framework focuses on the concept of strategy, and how best it could be used as a tool in corporate event planning. Also, empirical part talked about the research method applied in this study. Qualitative research method which includes semi-structure interview and observation.

After the rigorous processes taken to interview and gather information from event professionals, it was concluded that event planners in Nigeria are still amateur in event planning. It was discovered that there is serious lack in the area of companies defining their event objectives; there is lack of qualified workforce who could give the best event according to the demand of customers. Therefore, all these problems were tackled and best ways forward were proffered.

TABLE OF CONTENTS
ABSTRACT

1 INTRODUCTION
2 CORPORATE EVENTS AND FUNCTIONS
2.1 Board meetings
2.2 Client appreciation events
2.3 Corporate shows

3 STRATEGIES AND THEIR IMPLEMENTATION
3.1 Strategy as a concept
3.2 The corporate-level strategy
3.3 The business unit strategy
3.4 Operational strategies
3.5 Strategic management
3.6 Cooperative strategy

4 PLANNING AN EVENT
4.1 The event operations management model
4.2 Event analysis
4.2.1 The event mission: objectives and aims
4.2.2 Target group
4.2.3 Site management
4.2.4 Budget
4.2.5 Supply management
4.3 Supply chain management
4.4 Supply purchasing
4.5 Human resources management
            4.5.1 Analysis of event staffing requirements – phase I
            4.5.2 Job analysis- phase 2
            4.5.3 Job description- phase 3
            4.5.4 Recruitment and selection- phase 4
4.6 Managing the work force
4.7 Ambiance creation in corporate event
4.8 Event evaluation

5 EMPIRICAL STUDY
5.1 Research method
5.1.1 Qualitative research and in-depth interview
5.1.2 Thematizing
5.1.3 Questionnaire design
5.1.4 Interviewing
5.2 Transcribing/presenting of the interview
5.2.1 Presenting the event managers' interview
5.2.2 Presenting the marketers' interview
5.2.3 Presentation of visitors' interview
5.3 Analyses of the research result
5.3.1 Theme 1: starting off
5.3.2 Planning
5.4 Reliability
5.5 Validity

6 CONCLUSION
6.1 Event evaluation process
            6.1.1    Planning and identification of event data requirement
            6.1.2    Data collection
            6.1.3    Data analysis
            6.1.4    Reporting
            6.1.5    Dissemination
REFERENCES
APPENDICES


1 INTRODUCTION
Today, the countries of Africa are striving unceasingly to keep up with the economic development. Typical examples are South Africa, Egypt and also Nigeria which is the case study in this research. In recent time in Nigeria, the attention towards the oil industry, which has been the major source of revenue for the country, has gradually diverted. Agriculture, business and management sectors are intensifying a lot in producing the new age entrepreneurs and enterprises who in the near future will move the economy to an enviable height in the world economy. For better understanding, it might be interesting to get brief knowledge about Nigeria and the potentiality of its market.

Nigeria, as one of the African countries, has enormous potentials that could hardly be found elsewhere. As the most populous of all African countries with approximately 140 million inhabitants, Nigeria is relatively endowed with good access to skills, capital and technology, fertile land, mineral resources and a favorable geographical location. Most importantly to note, Nigeria has recently improved in the direction and management of its development policy which has positively affected the economic outlook of the country to its best since the 1970s (Nigeria-UNDAF II, 2008).

To be precise, Nigeria has since 1999 been experiencing a steady economic growth. The economic growth from 1999 through 2009 was 8.0 percent and 2004 to 2009 was 7.0 percent respectively. Good enough to be intimated that this figures are based largely on the non-oil sector, which is a practical imperative of that Nigeria has started being real to the fact that the oil sector is not the only source of revenue generation in the country. Also, as the domestic prices get gradually settled, the inflation rate from 1999 to 2003 was 11.9 %, and 2004 to 2009 became 11.6 percent. (Nigerian Poverty Study, 2011.) A flashback to the 1980s will arrive to the conclusion that the inflation rate that was 20 percent then has reduced in comparison with the recent figure.

As a matter of fact, there has been a steady increase in foreign reserves which amounted to 16.96 billion dollars in 2004. Therefore, in 2008 it increased to the amount of 53 billion American dollars. With the deregulation of the foreign exchange market, Naira has stabilized but has been kept at a significantly depreciated level (Nigerian Vision 20:2020, 2010) A critical understanding of the above explanation could convince one that lots have been done to drive the Nigerian economy to the next level. In doing this, also numerous opportunities such as access to education, industrialization, companies, organizations entrepreneurship etc, are on the increase to alleviate the state of unemployment in the country.

The level of growth encountered in Nigerian economy today is a big shock to many. It has been recorded that Nigeria`s economy is one of the fastest growing in the world. The International Monetary Fund (IMF) has recorded Nigerian gross domestic product (GDP) to grow at a rate of 7.3 percent in 2011 which is above 7.0 percent rated in 2010. Judging from the ongoing performance and the recent policy initiative, Nigeria`s economic growth will cross into double-digit territory in the 2012-2015 timeframe, and at the same time will transcend over the two other emerging markets, Brazil and Russia. This will materialize if Nigeria proactively transforms its agricultural sector which is among the series in the policy initiative (IMF Nigeria, 2010).

According to the country`s 2006 census, Nigeria and its more than 140 million citizens represent the largest high-potential consumer market in Africa. To this effect, the Nigerian population dwarfs that of the two mega economies- South Africa (48 million) and Egypt (81 million) of Africa. This very structure of its population, with 72 percent of the population under age 30 and an excellent regional distribution of eight “anchor” cities each with populations exceeding 1 million, suggest a healthy growth picture going forward as there is a significant base for future investment and consumption activity (Nigerian population census, 1996).

However, Nigeria has a market where consumers of all classes have real intense appreciation for brand. For example, in Nigeria entrepreneurs and home makers want to fly the premium airline flown by Nigeria`s high-flying corporative executive. These aspirational ideas are reinforced by Nigeria`s vibrant advertising market in radio, television and billboard. For business to succeed in Nigeria there is need for proper marketing and advertisement. This is because in most cases people get attached to a particular good or service depending on the level of advert and marketing strategy. Nigerians are so good in imitating each other when it comes to the purchasing of goods and services. They also tend to stay with the brand they like especially when many testify its standard to be good.

The extent of opportunity in Nigeria has gone beyond the imagination of many international corporations. Many have visited in the past with the intention to explore the land and only to discover to their highest expectation that Nigerians is a home of opportunities. Nevertheless, as part of the efforts to provide an enabling environment that...

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Item Type: Project Material  |  Attribute: 63 pages  |  Chapters: 1-5
Format: MS Word  |  Price: N3,000  |  Delivery: Within 30Mins.
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