Handout 4 Flashcards
is any group or individual who can affect or is affected by the achievement of the organization’s objectives.
Stakeholders
They bear some form or risk as a result of having invested some form of capital, human or financial, something of value, in a firm or organization.
Voluntary stakeholders
They are placed at risk as a result of a firm’s activities.
Involuntary stakeholders
These groups or individuals directly work within an organization. Some of them might have a legal or moral stake in the organization.
Internal stakeholders
These groups or individuals do not directly work within an organization but are affected in one way or another by the decisions or activities of the organization.
External stakeholders
ROl, sales and promotion opportunities
*Vendors
ROl, risk (stake), cash flow, financial performance
*Shareholders/Creditors
Relative value of the event for the cost, quality of the event, safety and security, successful event
*Clients
Prompt payment. repeat business. satety and security
*Suppliers
Image building opportunities, awareness opportunities, safety and security
*Press/Media
Safety and security, successful event
*Participants
Lack of negative externalities a secondary or unintended consequence), economic impact (employment, taxes, etc.), lawful operations, safety and security, successful event
*Local Community/ Government
Plan for adequate security and safety prior to the
event
Safety and security
eftective planning, effective collaboration, and excellent communication between the events team
and all its stakeholders
Successful event
Keep promises to sponsors (e.g., sponsors’ literature distribution,
complimentary registration,
complimentary invitation to special receptions, and providing other opportunities to promote their products and/or services)
Return on investment (ROI)