Lesson 1 Flashcards
Advanced Logistics
The management of all logistics associated with individual meetings as well as meeting functions.
Budget Owner
a key stakeholder who has overall responsibility for the income and expenditures related to the event. Will focus on the organization’s business objectives and be accountable for financial costs and liabilities.
Business Continuity
A business process that ensures that an organization’s critical business functions are not compromised when organizations experience opportunities or threats. Recent definitions include 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 as organization produces and sells products
Business Value
In management, business value is an informal term that includes all forms of value that determine the health and well-being of the firm in the long run. Business value expands concept of value of the firm beyond economic value (also known as economic profit, economic value added, and shareholder value) to include other forms of value such as employee value, customer value, supplier value, channel partner value, alliance partner value, managerial value, and societal value. Many of these forms of value are not directly measured in monetary terms.
Contingency Planning
addresses the ability of the event professional to pull off the event as planned.
Continuing Education Unit
CEU. Non-academic credit unit conferred by professional organizations for formal educational programs for members who must maintain their level of professionalism.
Corporate Social Responsibility (CSR)
A form of corporate self-regulation integrated into the business and culture of an organization, which embraces responsibility for the organization’s actions and encourages s positive impact on the environment, consumers, employees, communities and other stakeholders
Delivery Stage
The stage of meeting design in which the design for the meeting is put into action
Development Stage
The stage of meeting design in which the design team develops meeting objectives and associated design elements
Discovery Stage
The stage of meeting design in which the design team analyzes the environment and performs a stakeholder needs analysis
Evaluation
1) Critiquing and 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.
Event
An organized occasion such as a meeting, convention, exhibition, special event, gala dinner, etc. An event is often composed of several different yet related FUNCTIONS.
Event Attendees/Participants
Individuals registered for or participating in an event. Includes, delegates, exhibitors, media, speakers and guests.
Event Owner
the person who has requested the event and is responsible for defining the events overall objectives and measurable outcomes.
External Stakeholder
Includes attendees, sponsors and the community where the event is taking place
Independent Planner
An individual or organization who plans meetings or events; also known as a third-party contractor
Internal Stakeholder
In organizations are typically business owners, other departments, managers, employees and internal customers or consumers.
Key Performance Indicators (KPI)
a type of performance measurement.[1] KPIs evaluate the success of an organization or of a particular activity in which it engages. Often success is simply the repeated, periodic achievement of some levels of operational goal and sometimes success is defined in terms of making progress toward strategic goals.
Measurement
The activities associated with assessing the value of a meeting.
Meeting
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 . Compare With CONVENTION, EXHIBITION, TRADE SHOW, CONSUMER SHOW.
Meeting Client
The person who organizers a meeting and is responsible for strategic goals and objectives
Meeting Design
The purposeful shaping of the form and content of a meeting.
Meeting Designer
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
Needs Assessment
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.
Ongoing Impact Stage
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
Portfolio Management
The management and alignment of an organization’s entire portfolio of internal and external meetings with organizational strategy
Proposal
1) Plan put forth for consideration or acceptance. 2) Communication sent by a supplier to a potential customer detailing the supplier�s offerings and prices.
Qualitative Data
Descriptive information that is a record of what is observed, presented in narrative by the respondent. Also referred to as �soft data.�
Quantative Data
Information that is represented numerically so you can assign ranks or scores, or determine averages and frequencies. Also Called HARD DATA.
Questionnaires
Survey; a set of questions used to gather information.
Return on Investment
ROI. 1) Net Profit divided by Net Worth. A financial ratio indicating the degree of profitability. 2) Net benefits divided by the full loaded meeting costs.
SMART and SMARTER Objectives
A common methodology for developing objectives focused on five criteria - specific, measurable, attainable, relevant, time-based. In some organizations the ER is utilized standing for ethical and recorded
Stakeholder
Internal and external person, group or organization that has an interest in or is impacted by another organizations activities
Stakeholder Approach
taking into account the responsibility to others and adopting a consultative demeanor, including stakeholders in the event’s decision-making process
Strategic Alignment
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 Meeting Management (Plan)
A focused approach on increasing efficiency and reducing costs across an organisation for all of its events, typically using specialised software to centrally track all aspects of meeting expenditures across a department or organisation.
Strategic Planning
Long range plan of action for a company or organization.
Strategic Thinking
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
Strategy
A broadly defined direction and use of an organization’s resources that achieves a unique and differentiated advantage for an organizational in fact, it advances an organization by aligning with organizing resources
Surveys
1) Solicitation of opinions regarding services; 2) questionnaire.
Triple Bottom Line
A concept that incorporates the holistic view of sustainability into business decisions this holistic focus is also called the three p’s people, planet and profits
Waste Diversion
Recycling. Ways of reducing waste
