Value Creation in Event Management

Tuesday, January 25, 2011

My eyes are glued to Tanaka San our lecturer here in Japan as he expound and hammered the need for value creation as the ultimate goal of projects and programmes. After his explanation he asked us to think for ourselves if what we are doing have values created.

He said that all projects and programs must have value creation otherwise it is useless and it is not a project or a program.

When I was left for myself it got me thinking what are the values created by event management? I arrived on the following conclusion, event management in the Philippines create the values like Knowledge Values because of the partnership and new products and ideas presented to clients and visitors alike on an event.

Two other values that it gives are Value for Shareholders and Value for Society. Events benefit the shareholders like the event organizer, local government, venues, exhibitors, participants, and country because of the events inherent power to gather and provide a platform for exchange of ideas and networks al l shareholders either gain knowledge and income out of events.

However, observing the landscape in our country there are events that don’t provide values or no discerning values created.

If this is the case we must first determine our discerning values before we create or realize an event. This will help us avoid the common mistake of creating events for the sake of creating and profit.

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