Home | Business News | Browse by Publication | B | Business Travel News

Planning & managing corporate meetings.

Article Excerpt
The ascendance of meetings management strategies in both corporate cost-containment approaches and marketing tactics in recent years has been profound. Many corporations have created policies governing the planning process, senior management oversight of meetings operations generally has increased and suppliers of all stripes have introduced products and services designed to streamline the meeting planning process, encourage attendance and capture meeting expenditure data.

However, a common lament among meeting, travel or procurement managers or senior executives attempting to consolidate or strategically manage their corporations' overall meeting programs is the propensity of nonprofessional planners to stage events without appropriate approval from above. The potential consequences range from irritating to severe, from the inability of the corporation to capture meeting data and gear supplier choice to preferred vendors to the exposure of the company to hundreds of thousands of dollars in cancellation or attrition damages.

Whether a company has a fully consolidated and centralized meetings program rife with policy mandates and senior management oversight or a laissez-faire meetings philosophy, effective meeting planning and management is critical to cost containment and the effective communication and realization of corporate goals and objectives. The following is a guide for all planners, professional or not, for staging the efficient and effective meetings and events necessary for success.

I. FIRST STEPS

To ensure a favorable outcome for the internal client holding the meeting (the sponsor), participants and vendors, the corporate meeting planner must understand stakeholder expectations. The planner helps the sponsor outline meeting goals and conveys them to the stakeholders.

A. Determine objectives by looking at why the meeting is being held and what the stakeholders hope to accomplish in such a setting. Measurable results should be identified and should be validated by ROI instruments before, during and after the meeting. This might include:

1. Launching a product or issuing new information

2. Training personnel

3. Rewarding high achievers

4. Explaining new policies or goals

5. Reviewing company strategy

Each meeting's objectives are distinctive and should operate with respect to the business landscape. The planner should factor in such considerations before moving ahead with site or speaker selection, budgeting and any other event details.

B. There are times when a planner who does not originate or conceptualize a meeting is not included in the development of objectives. When that happens, pursue a meeting with the internal client in order to explain the importance of understanding strategy before making tactical recommendations.

C. Once the objectives have been developed, create a concise written statement of the meeting's goals. Discuss them with other meeting stakeholders and secure their written approval. Include:

1. Why the meeting is being held and the expected outcomes for each stakeholder in the group

2. What type of meeting it is, e.g., management, board, customer, sales, training or incentive

3. Who will attend: Consider group size, gender mix and ages, international component and languages spoken, participants' positions in the company and any special needs.

4. When the meeting can be held and what dates are not feasible because of conflicts, holidays or other industry events: Are the dates flexible or firm? Have all key sponsors signed off on the dates?

5. As responses to these points are developed, factor in:

a. An outline of the daily sessions, including expected attendance, meeting space requirements, seating arrangements, setup times, start and end times, and audiovisual and production needs

b. Daily food and beverage requirements, including meals, receptions and breaks

c. Air and ground transportation needs

d. Entertainment and recreation needs, and whether any of these are team building activities or sales incentive tournaments

e. Timelines for invitation, promotion, registration and production of meeting materials, including establishment of online registration capabilities

f. Budgeting for all sponsor and participant expenses

g. Requirements of presenters or keynote speakers

h. Administrative support for distribution of name badges or other materials

II. BUDGETING

How much will the meeting cost to produce? Staging a program below its budget often pleases senior management, but only if quality is not sacrificed and only if the program was designed to break even.

A. Consult with your sponsor, company accounting office or financial officer on how to budget to be compatible with internal accounting systems. Take into consideration:

1. Distribution of expenses among stake holders

2. Staff time, marketing expenses, air and ground transportation, accommodations, deposits to suppliers, food, beverage, entertainment, recreation, taxes, gratuities, audiovisual equipment and production costs. Budget for unanticipated expenses.

3. Analysis of budgets from past meetings to gauge spend and ensure inclusion of all categories. Use checklists...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!