Assessing the key success factors for the strategic management of corporate events : a supply-side perspective

Abstract

The corporate events industry provides destinations with an opportunity to promote tourism by playing an important role in a destination's growth and marketing. Currently, corporate events, also referred to as MICE (Meetings, Incentives, Conferences, and Exhibitions), are globally growing considerably and in South Africa – providing destinations with a sturdy income. However, being a lucrative business increases rivalry among rising corporate events companies, travel management companies, professional conference organisers and destination management companies. Event planners, therefore, need to be exceptional in their service offering. Though, managing corporate events is a multifaceted job, comprising the management of numerous key success factors (KSFs) to warrant successful corporate events. It is advisable for seasoned event planners to strategically manage corporate events, as it is a complex and intricate task. KSFs need to be applied purposefully during each phase of event management (pre-, during- and post-event) to ensure that the corporate event is planned and managed seamlessly, within the allocated budget and timeframe, while at the same time meeting the needs and expectations of the client. Consequently, the research purpose was to assess the KSFs for the strategic management of corporate events, from a supply-side perspective. Four objectives were set and realised to reach the goal of the study. The first and second objectives were achieved through a comprehensive literature study (c.f. Chapter 2 & Chapter 3), with the first objective describing events and specifically, corporate events. The primary literature themes investigated to reach this objective were: the categories and classification of events; event planning; event history; event impacts; business tourism; corporate events; the structure of the meeting industry; and corporate events in Gauteng and South Africa. The second study objective assessed strategic event management and the KSFs thereof. Here various event-management aspects were analysed: the evolution and classification thereof; the different stages; advantages and disadvantages; previous research; an overview of the project- and strategic management; the profession and its educational necessities; the various role-players; pre-existing guidelines; as well as models and identified KSFs. The above refers to existing knowledge and event management in a broader context as little is known specifically regarding corporate events. The third and fourth objectives were achieved by means of an empirical study (c.f. Chapter 4), with the third objective identifying the following: the sample description of Gauteng’s successful corporate event planners; the KSFs of strategic corporate event management; event planner occupational challenges and their reason for pursuing the industry. The fourth objective was achieved by assessing corporate event management for destinations, with the study focussing on Gauteng and highlighting KSFs for the strategic management of corporate events and providing best-practices guidelines (c.f. Chapter 4 & Chapter 5).