April 04, 2017 @ 01:15 PM

Event Management

Every time whenever you witness a gala award function, pop concert or a beauty pageant you must be wondering how the massive pomp and show has been set up or who has executed it. Every minute detail from your entry into the venue to your exit is a result of rigorous planning. Well that is what ‘Event Management’ is all about.

It must be quite assuming to note that whenever someone asks us ‘what is event management’ we are somewhat taken aback as it seems fairly self-explanatory. However later it appears that there are a great deal of assumptions and false presumptions regarding the industry and what an event Management Company actually does.

Over the last 10 to 15 years, there has been an enormous growth in the event management industry. Event management is a way of outsourcing occasions that are either business, social or a combination of the two. Events can be as diverse as weddings to political rallies. For any business meeting or social occasion an event management team can be called in to organize it.

It has become one of the fastest and the most upcoming glamorous profession today as around USD 500 billion is being spent annually on planned events around the world. Event management has also become an ideal platform to rub shoulders with who's who of the corporate world.

In the business arena, corporates often ask the question ‘what is the point of having an event manager,’ if they had a bad experience with an event manager who didn’t understand their own role, or if they have always used internal administrative personnel to run their events. Event management in the corporate world is all about delivering an event with a full appreciation for the core aims, whether it is commercial, part of a marketing plan or other.

Event Management is exactly what it sounds like; it is the effective, safe management of an event. An event can be anything from a wedding to a party to a ball to an exhibition to a concert, a highly corporate meet and so on. And management means the all encompassing holistic approach to the event from start to finish.

There are a number of companies hosting and organizing events on a regular basis. These range from the small time private events to the large-scale international events. The large scale ones do happen far rarer, but then the returns they churn out are far beyond expectations. Many events in the past have ended in a debacle for the hosts and sponsors for varied reasons. But then, all said and done, event management is about organization and execution, and that is precisely where the money lies. Those in the field are paid handsomely for these services.

Today, there a number of people, who have ventured into the field because they realize the potential of the market where demand and supply is concerned. In fact, the most profitable aspect of this field is the need for creativity. And that is where you earn more. If you want your event to be successful and look impressive to potential clients, then event management is the way to go.

Events could be just anything ranging from concerts, product launches, conferences, promotions, press conferences, jubilee celebrations and fashion shows. The range of events that an event management business can supply is impressive. They can arrange events for a group of small people to large group of even 5000 people attending it. Most businesses rope in an event management team as they want their expertise in the field to be second to none. Planning an event is time consuming, stressful and costly. Event management teams have contacts within their field in order to obtain the best price quotes and the most reliable service.

Event management does mean lots of moolah, but it also demands lot of discipline and meticulous planning to be in this profession. Planning an event is an event in itself. Your job begins with the very basics. The client comes to the event manager with a vague idea in mind. It is entirely up to the event manager to work on the idea and turn it into a reality. In fact a person organizing the event must be the master of all trades and manager too.

To start with, the management of events calls largely for coordination. The first thing required is to get the orders for the event. This process is also known as pitching for an event. Usually, whether it is for small time events (weddings), or for the larger ones assigned by companies (exhibitions and trade fairs), or the international concerts; the event manager or company is asked to submit a project report, with the moolah involved in it.

On the basis of this the assignment is allotted to them. These are the pre requisites that a professional event management team will have firsthand knowledge of. An event manager has to first design the basic framework, after which he prepares the marketing plans, hunts for sponsors, works on the logistics, locates the site, contact vendors, hires performers, prints/mails invitation cards, creates menus, looks after the lighting, books the artistes, arranges for transport for different people, and on the D' Day co-ordinates, plans and finalises every aspect of the event.

The work that event managers do is not a one day herculean task. They usually start working months before the event. In order to simplify bulk work, large event management companies hire the services of smaller companies on a contract basis.

Those of you who are eyeing a career in event management here is a brief snapshot. Scroll through the list of strengths and abilities to gauge if you have the necessary skills. If you meet at least most of these criteria, then a career in event management may well be for you:

  1. Educational background: In terms of educational qualifications, a graduate should be ideal though not much stress is laid on education.
  2. Ability to work under pressure and meet deadlines: An event manager should be able to handle pressures and deadlines at ease. In spite of meticulous planning and arrangement, a small error or miscalculation can wreak havoc and disrupt the entire schedule. You should be able to remain calm and cool and perform your role as though everything is under control, so that others are not adversely affected.
  3. Teamwork, facilitation and co-operation: One of the most important thing is the ability to work as a team. You should not only know how to lead a team but also work with everyone and get the job done. You should be able to build efficient teams of people and facilitate their effectiveness. Always remember, "There is no 'I' in Team".
  4. Ability to plan with precision: This involves the ability to plan everything with detail. Don’t forget it’s an event where people from all walks of life will attend.
  5. Analytical critical thinking and problem solving: These are the abilities that are a must in this field. You should be able to acknowledge a problem, recognize that it has to be solved then and there, and always think on how the situation could be avoided in the future.
  6. Creativity: This is the important aspect that you need to nurture. Your ability to think in an imaginative way can make you a hot option for a number of events to be organized.
  7. Administrative wizardry: You not only need to have administrative ability but wizardry because organizing a mammoth event is not everyone’s cup of tea.
  8. Strong communication skills: Without this you will be considered invalid in the field. A strong persona is also a must as the way you carry yourself speaks volumes about your attitude towards the job.
  9. Committed until the job is done: An event manager has to be client focused, he must attempt to know the client's needs, he must be able to put them at ease while interacting with them and at the same time build trust and respect.
  10. Good negotiation skills: It is a general opinion that negotiating means underestimating the seller. On the contrary it is a skill in business which, when developed, makes you an astute businessman.
  11. Good networking skills: An event manager needs to build up his own network and the number of contacts he has the more successful he will be. Any kind of business can be only expanded through contacts and you must therefore have the skill and aptitude to go out and talk to people.

A person who enters into this field has to first join as a trainee. He then becomes the promotion coordinator. Nowadays lots of young people are hired for this post. The nature of job is very basic which one can do on a freelance basis also. The next job in this field is event co-ordination. The main job of an event coordinator is to supervise the various stages of planning in event management.

Event management has become an excellent field to extra and once you start getting the feel of the field, it will never be a problem. It is a very lucrative profession. Remuneration depends on the kind of events you handle. If you prefer to deal with weddings and parties it may easily come around Rs. 50,000 or even more. Event coordinators with a good deal of experience could earn even in seven figures.

Similarly if you are thinking to start an event management company your success in this business will depend upon, not only on your experience and knowledge level but also on your contacts i.e. PR, negotiating, marketing and entrepreneur skills. A flourishing business is one of the most impressive incentives to a potential investor. Initially an event management team may cost you money, but it may also make you money in the future. So if you think you have it within you then go ahead and take the plunge.

For such topics of your concern, please keep on visiting www.mbarendezvous.com,
Portal with Management by objective approach.  

Crucial Dates, You Should not Miss

TAPMI, Manipal
Admission Application closes on January 16, 2018 for 2018-20
BIMTECH, Greater Noida
Admissions open for PGDM Programmes at BIMTECH. Apply Now !
Lal Bahadur Shastri Institute of Management
Admissions are Open at LBSIM, Delhi. Apply Now !
FORE School of Management
Apply for PGDM & PGDM-IB Programmes. Application Deadline is December 22, 2017.
Goa Institute of Management
PGDM Admissions Open at GIM. Apply Before January 5, 2018
NIRMA
Last Date to Apply for MBA (Full Time) Programme at NIRMA is January 09, 2018
XAT 2018
Application Last Date 30th November 2017
IMI New Delhi
Application closes 4th December 2017
XIM Bhubaneshwar
Last Date 8th December 2017
SIBM Bengaluru
Apply for SNAP 2017 to be held on Dec 17 and apply for SIBM-Bengaluru through the SNAP Form
Institute of Rural Management Anand
IRMASAT will be conducted on February 4,2018, Apply Before December 31,2017
IBSAT 2017
Last date for IBSAT registration is December 12 , 2017
SSBF
Last date to register for SNAP is 24th November, 2017. Last date for SSBF is 2nd January 2018
SIBM Hyderabad
Apply for SNAP 2017 to be held on Dec 17 and apply for SIBM-Hyderabad through the SNAP Form
K J Somaiya Institute of Management Studies & Research, Mumbai
Last date for Application is 31st Jan, 2018
SDMIMD Mysore
Application for PGDM 2018-20 at SDMIMD is open till February 28, 2018
Institute of Management Technology
Application closes on November 24, 2017
MDI Murshidabad
Application for PGPM 2018-20 at MDI Murshidabad is open till November 24, 2017

Admission Open Now

Following Colleges are accepting applications.

INTERNATIONAL MANAGEMENT INSTITUTE

Admissions open for 2018-20

PGDM, PGDM (HRM), PGDM(B & FS), Executive PGDM

Apply Online