Chapter 1

Question 1

Budget Owner

Answer 1

A key stakeholder who has overall responsibility for the income & expenditures related to the event.

Will focus on the organization’s business objectives & be accountable for financial costs and liabilities

Question 2

Business Continuity

Answer 2

A business process that ensures that an organization’s crticial business functions are not compromised when organizations experience opportunities or threats.

Includes a focus on issues such as natural resource supplies, the cost of pollution, sustainable relationships with suppliers and the economic distress of the communities in which an organization produces and fill products.

Question 3

Business Value

Answer 3

*Not directly measured in monetary terms

Informal term that includes all forms of value that determine the health and well-being of the firm in the long run.

Expands concept of value of the firm beyond economic value (ie - economic profit, value added, shareholder value) to include forms of value - employee, customer, supplier, channel partner, alliance, managerial and societal value.

Question 4

Contingency Planning

Answer 4

Addresses the ability of the event professional to pull off the event as planned.

Question 5

Continuing Education Unit

Answer 5

CEU: non- academic credit unit conferred by professional organizations for formal educational programs for members who must maintain their level of professionalism.

Question 6

Corporate Social Responsibility (CSR)

Answer 6

A form of corporate self-regulation integrated into the business/culture of an organization which embraces responsibility for the organization’s action and encourages a positive impact on the environment, consumers, employees, communities and other stakeholders.

Question 7

Delivery Stage

Answer 7

*Execution Stage

The stage of meeting design in which the design for the meeting is put into action.

Question 8

Development Stage

Answer 8

*Kickoff Meeting

The stage of meeting design in which the design team develops meeting objectives and associated design elements.

Question 9

Discovery Stage

Answer 9

*Concept Stage

The stage of meeting design in which the design team analyzes the environment and performs a stakeholder needs analysis.

Question 10

Evaluation

Answer 10

*Postcon/Debrief

1) Critiquing/rating the overall success of an event
2) Developing an event profile from accurate event statistics
3) A systematic process to determine the value of an activity

Question 11

Event

Answer 11

An organized occasion as a meeting, convention, exhibition, special event, gala, dinner, etc.

An event is often composed of several different yet related FUNCTIONS.

Question 12

Event Attendee/Participant

Answer 12

Individuals registered for or participating in an event.

Includes: delegates, exhibitors, media, speakers, guests

Question 13

Event Owner

Answer 13

The person who has requested the event and is responsible for defining the events overall objectives and measureable outcomes.

Question 14

External Stakeholder

Answer 14

Includes attendees, sponsors, and then community where the event is taking place.

Ex: uber driver

Question 15

Independent Planner

Answer 15

An individual/organization who plans meetings/events; also known as a 3rd party contractor.

Ie - Trip Director

Question 16

Internal Stakeholder

Answer 16

In organizations are typically business owners, other department managers, employees and internal customers or consumers.

Question 17

Key Performance Indicators (KPI)

Answer 17

A type of performance measurement. KPIs evaluate the success of an organization or of a particular activity in which it engages.

Often success = the repeated, periodic achievement of some levels of operational goal & sometimes success is defined in terms of making progress towards strategic goals.

Question 18

Measurement

Answer 18

The activities associated with assessing the value of a meeting.

Question 19

Meeting

Answer 19

An event where the primary activity of the participants is to attend educational sessions, participate in discussions, social functions or attend other organized events. There is NO exhibit component.

IE - Executive Seminar: educational sessions/training, discussions, social events (reco dinner)

Question 20

Meeting Client

Answer 20

The person who organizes a meeting and is responsible for strategic goals and objectives.

Ie - ME!

Question 21

Meeting Design

Answer 21

The purposeful shaping of the form and content of a meeting.

Question 22

Meeting Designer

Answer 22

The person who applies social, behavioral and cognitive science to the design of a meeting.

The meeting designer leads the activities of a meeting-design team.

Question 23

Needs Assessment

Answer 23

A systematic process for determining and addressing needs or gaps between current conditions and desired conditions or wants.

The discrepancy between the current and wanted condition must be measured to identify the need appropriately.

Question 24

Ongoing Impact Stage

Answer 24

The stage of a meeting in which the activities and impact of the meeting are tied to other activities in an organization on an ongoing basis.

Ex: Chairman’s Circle and strategy for the year

Question 25

Portfolio Management

Answer 25

The management and alignment of an organization’s entire portfolio of internal/external meetings with organizational strategy.

Question 26

Proposal

Answer 26

1) Plan put forth for consideration or acceptance
2) Communication sent by a supplier to a potential customer detailing the suppliers offerings and prices

Question 27

Qualitative Data

Answer 27

Descriptive information that is a record of what is observed, presented, in narrative by the respondent.

Also referred to as soft data.

Question 28

Quantative Data

Answer 28

Information that is represented numerically so you can assign ranks or scores, or determine averages and frequencies.

Also called hard data.

Question 29

Questionnaires

Answer 29

Survey - a set of questions used to gather information.

Question 30

Return on Investment (ROI)

Answer 30

1) Net profit / net worth = a financial ratio indicating the degree of profitability.
2) Net Benefits / the full loaded meetings costs

Question 31

SMART & SMARTER Objectives

Answer 31

A common methodolofy for developing objectives focused on (5) criteria
S - specific
M - measurable
A - attainable
R - relevant
T - time based
E - ethical
R - recorded

*In some organizations the ER is utilized standing for Ethical/Recorded

Question 32

Stakeholder

Answer 32

Internal/External person, group or organization that has an interest in or is impacted by another organizations activities.

Question 33

Stakeholder Approach

Answer 33

Taking into account the responsibility to others and adopting a consultative demeanor, including stakeholders in the event’s decision making process.

Question 34

Strategic Alignment

Answer 34

An agreement between two or more enterprises to conduct specified business processes in a joint manner.

Usually related to technology development and/or marketing and distribution efforts.

Strategic alignment is a process that ensures an organization’s structure, use of resources support its strategy.

Question 35

Strategic Meeting Management (plan)

Answer 35

A focused approach on increasing efficiency and reducing costs across an organization for all of its events, typically using specialized software to centrally track all aspects of meeting expenditures across a department or organization.

Question 36

Strategic Planning

Answer 36

Long range plan of action for a company or organization.

Question 37

Strategic Thinking

Answer 37

An approach to thinking and decision making that takes into account the context of the organization’s broader strategies and goals, which is not limited to high-level decisions that effect the whole organization and is required of all leaders when they are contemplating any aspiration or initiative.

Question 38

Strategy

Answer 38

A broadly defined direction and use of an organization’s resources that achieves a unique and differentiated advantage for an organizational in fact, it advanced an organization by aligning with organizing resources.

Question 39

Surveys

Answer 39

1) Solicitation of opinions regarding services
2) Questionnaire

Question 40

Triple Bottom Line

Answer 40

A concept that incorporates the holistic view of sustainability into the business decisions. This holistic focus is also called the three p’s - people, planet and profits.

Question 41

Waste Diversion

Answer 41

Recycling - ways of reducing waste.

Question 42

Advanced Logistics

Answer 42

The management of all logistics associated with individual meetings as well as meeting functions.