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Certified Meeting Professional (CMP) > Lesson 1: Strategic Planning > Flashcards

Lesson 1: Strategic Planning Flashcards

Domain A

1
Q

Define Business Value

A

Business Value is measured by the financial bottom line and what the outcomes are expected by the business.

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2
Q

“Long rang call to action for an organization” consists of 3 elements

A

Discovery- know the organization, business environment, external factors

Analysis- previous events, projected costs/benefits, ways decisions are made

Planning- create goals and objectives, implement sales and marketing plan, financial plan, and success indicators

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3
Q

Define Strategic Planning

A

An organization develops its long-range plan of action.

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4
Q

There are multiple types of strategic planning you can do:

A
  • risk management
  • continuity
  • financial
  • sustainability
  • ROI
  • Event
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5
Q

A common methodology for developing objectives

A

“SMART”

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6
Q

Strategic Planning has three distinct elements: what are they?

A

Discovery - Analysis - Planning

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7
Q

“SMART” stands for
“ER”

A

S- Specific: Should call out actions, results
M- Measurable: What elements of the objectives is to be measured & how
A- Attainable: Challenging realistic goals
R- Relevant: Focus on what matters to the organization and participants
T- Time-based: Achievable by a certain time
E- Ethical
R- Recorded

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8
Q

Define Key Performance Indicators (KPI)

A

Quantifiable measurements of critical success factors for an organization (example: # registrations sold at a specific date OR # reservations made at the early bird cutoff date)

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9
Q

Key Performance Indicators for an Event

A
  1. financial
  2. registration
  3. education
  4. exhibitors
  5. motivation
  6. sustainability
  7. planning
  8. marketing
  9. evaluation
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10
Q

Sustainable or “green” events

A

an event that is designed to reduce or eliminate its negative impact on the environment and society. (Planners use strategies to minimize waste, maximize resources, and promote sustainability)

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11
Q

Sustainability Management Plan practices are the following:

A

Rethink- replacing on-site printed materials with a mobile application
Reduce- printing materials using both sides of the paper
Re-use- printing signs without dates to allow for re-use at multiple events
Recycle- recycling printed materials after the event

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12
Q

Business Continuity Plan

A

to operate a plan for during and after an emergency, crisis, or disaster occurs
(Develop evaluation plan)

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13
Q

What is the difference between a business continuity plan vs. a contingency plan? (page 24)

A

A business continuity plan ensures the ability of the business to operate during and after an emergency applies to the business as a whole - not just the event

  • Contingency plan is more applicable to an event- what will we do in an emergency (if it rains and we have to move indoors)
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14
Q

Sustainable Meeting/Event Standards
APEX/ASTM

A
  1. Transportation
  2. on-site office
  3. meeting venue
  4. food and beverage
  5. exhibits
  6. destinations
  7. communications
  8. accommodations
  9. audiovisual
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15
Q

Return on Investment (ROI)

A

ROI (%) = Net Monetary Benefits / Meeting Costs x 100

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16
Q

Phillips ROI Scale

A
  1. ROI (TOP)- What were the benefits to the cost of the training?
  2. Business Impact- Did the training result in a $ return?
  3. Application- Did the participant apply the knowledge?
  4. Learning- Did the participants learn?
  5. Reaction (Bottom)- Did the participants like it?
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17
Q

Two types of data collected through surveys

A

Quantitative Data: hard data - numerically
Qualitative Data: soft data - descriptive

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18
Q

SWOT Analysis

A

Strengths (Internal) Weaknesses (Internal)
Strengths (External) Threats (External)

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19
Q

Which of the following is not a type of question that would appear on a survey? (page 29)

a. checklist
b. open-ended question
c. three-way question
d. multiple choice question

A

C. three-way question

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20
Q

What term describes an event that minimizes the negative impact on the environment? (page 11)

A. a stakeholder
b. a responsible party
c. a conservation event
d. a green event

A

D. a green event

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21
Q

When is data valuable? (page 28)

a. when it supports the mission of the organization
b. when it is interpreted and converted into knowledge
c. when all participants participate in the evaluation
d. when it gives constructive criticism

A

b. when it is interpreted and converted into knowledge

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22
Q

Which is true regarding the appearance of a survey? (page 30)

a. the survey should be simple and easy to read
b. the survey should be printed on brightly colored paper
c. the survey should be printed in formal font
d. the survey have a very large margins

A

a. the survey should be simple and easy to read

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23
Q

Which of the following should have a project plan that includes hotels, suppliers, and many tasks relevant to leisure activities? (page 35)

a. exhibition
b. incentive program
c. large event
d. product launch

A

b. incentive program

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24
Q

An SMMP plan is: (page 4)

a. action plan for meetings and events
b. strategic meeting management plan
c. strict meeting management program
d. simple meeting management plan

A

b. strategic meeting management plan

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25
Q

When designing SMART objectives, they should be: (page 3)

a. short, manageable, attainable, reasonable, trusted
b. simple, measurable, attractive, repeatable, timely
c. specific, measurable, attainable, relevant, and timely

A

c. specific, measurable, attainable, relevant, and timely

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26
Q

Business continuity planning should include all, but which of the following?
(page 24)
a. a crisis management plan
b. an alternate workspace to use in the event of a crisis
c. a data backup plan
d. a rain backup plan for your gala dinner

A

d. a rain backup plan for your gala dinner

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27
Q

A plan that involves developing and applying a system of policies, procedures, and tools for the benefit of an organization is known as what?
(page 4)
a. ROI
b. business continuity
c. quantitative program analysis
d. strategic meetings management

A

d. strategic meetings management

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28
Q

Which of the following is not a fundamental concept accepted as good practice in any business unit?
(page 4)
a. execution
b. organization
c. business planning
d. outsourcing

A

d. outsourcing

29
Q

An event professional is part of an organization’s senior leadership staff and is active in the organization’s strategic planning process. what role does this describe?
(page 2)
a. development role
b. financial role
c. supervisory role
d. implementation role

A

a. development role

30
Q

what role does analysis have in strategic planning?
(page 3)
a. it is only as useful because it reduces costs and eliminates waste
b. it creates many new jobs, which increases overall morale
c. it is a legally required part of the management process
d. it helps to determine what worked or didn’t work in the past

A

d. it helps to determine what worked or didn’t work in the past

31
Q

All of the following are necessary elements to include when developing a strategic plan except:
(page 3)
a. mission statement
b. total direct and indirect costs for events
c. implementation plan
d. key performance indicators

A

b. total direct and indirect costs for events

32
Q

which of the following terms refers to the purpose of an organization generally unchanged over time?
(page 5)
a. goals
b. mission statement
c. feasibility
d. objectives

A

b. mission statement

33
Q

which of the following best defines a return on investment (ROI)?
(page 25)
a. the cost to value ratio of an organization
b. a gain or loss as a result of an investment of time and money
c. the amount of money an organization makes in a year
d. a way to report finances to the IRS

A

b. a gain or loss as a result of an investment of time and money

34
Q

which of the following outlines how an event will funded and how the event will respond to budget shortfalls?
(page 6)
a. historical summary
b. participant summary
c. financial summary
d. strategic plan

A

c. financial summary

35
Q

what are the levels of management as identified by Jack Phillips of the ROI Institute?
(page 26)

a.discovery, analysis, planning
b. reaction, learning, application, business impact, return on investment, intangibles
c. exploring, utilizing, asking questions, resolving
d. stakeholder analysis, objectives, measurement, design, demonstration of value

A

b. reaction, learning, application, business impact, return on investment, intangibles

36
Q

What is the most important step in measuring ROI?
(page 25)
a. determining the purpose and creating clear goals and measurable objectives
b. making arrangements for venue, catering, and speakers
c. gathering financial support for the event
d. recruiting large personalities from the organization

A

a. determining the purpose and creating clear goals and measurable objectives

37
Q

Which of the following questions should be taken into consideration for the human resources requirement for an event?
(page 7)
a. what are the financial requirements for producing the event
b.whith whom do contracts need to be negotiated and executed
c. who will be responsible for producing the event
d. is outside security needed

A

c. who will be responsible for producing the event

38
Q

Which of the following is an example of a key performance indicator for the educational objective area of an event?
(page 8)
a. response to e-mail campaigns
b. waste diversion rate
c. post-event survey results
d. staff satisfaction survey scores

A

c. post-event survey results

39
Q

All of the following are true regarding sustainable events except:
(page 11)
a. they can improve the financial outcomes for organizations
b. they reduce the impact of events on the environment
c. they do not require management plans
d. they are also known as “green” events

A

c. they do not require management plans

40
Q

All of the following are benefits of hosting a sustainable event except:
(page 11)
a. improved relationships with local law enforcement
b. economic savings
c. improve participant and worker health
d. protected reputations

A

a. improved relationships with local law enforcement

41
Q

An event with a balanced approach to economic activity, environmental responsibility, and social progress is known as:
(page 11)
a. a financially responsible event
b. a strategic event
c. a sustainable event
d. a social event

A

c. a sustainable event

42
Q

What is one benefit of on-site surveys?
(page 28)
a. they are extremely cost-effective
b. they use handwriting rather than technology
c. they usually collect more favorable opinions than mail-in surveys
d. the participants are immediately available

A

d. the participants are immediately available

43
Q

When deciding on a social legacy project for a sustainable event, all of the following questions should be asked except:
(page 12)
a. is the project meaningful in the long term
b. is the project engaging for stakeholders
c. in the project aligned with the organization’s mission
d. does the project benefit the organization financially

A

d. does the project benefit the organization financially

44
Q

What are the four R’s to remember when implementing sustainable practices?
(page 11)
a. reuse, recycle, remember, rely
b. rethink, reduce, reuse, recycle
c.recycle, remember, relay, reuse
d. reduce, reuse, recycle, repeat

A

b. rethink, reduce, reuse, recycle

45
Q

What should an educational objective include?
(page 4)
a. the skills and knowledge each participant will bring to the event
b. how staff will contribute to the organization’s increased profit
c. how the participants will reduce carbon emissions
d. the skills participants will learn and how the outcome will be measured

A

d. the skills participants will learn and how the outcome will be measured

46
Q

Which of the following can help event planners remain focused on the task and help achieve the mission of the organization?
(page 12)
a. lots of participants and good speakers
b. an influx of financial support
c. effectively communicated goals
d. effective survey methods

A

c. effectively communicated goals

47
Q

What are the most commonly used evaluation tools?
(page 28)
a. kiosks
b. surveys
c. websites
d. telephone calls

A

b. surveys

48
Q

Which of the following is not true regarding the evaluation of events?
(page 26)
a. evaluations can be a record of an event’s history
b. evaluations are a one-time process
c. evaluations can record successes and challenges
d. evaluations can be time-consuming

A

b. evaluations are a one-time process

49
Q

What is the first step of an evaluation plan?
(page 25)
a. collect evaluation results
b. establish how success is defined
c. determine measurable objectives
d. measure return on investment

A

b. establish how success is defined

50
Q

When should evaluations be conducted?
(page 26-27)
a. during breakfast sessions
b. before the event as a way of conducting a needs assessment
c. roughly one to two months after the event
d. before, during, and after the event

A

d. before, during, and after the event

51
Q

What are the most commonly used evaluation tools?
(page 28)
a. kiosks
b. surveys
c. websites
d. telephone calls

A

b. surveys

52
Q

What is the difference between qualitative and quantitative data?
(page 28-29)
a. qualitative data is chosen from a selection of options; quantitative data is open-ended
b. qualitative data is valuable information; quantitative data is disposable
c. qualitative data is descriptive; quantitative data is numeric
d. qualitative data is verbal; is written

A

c. qualitative data is descriptive; quantitative data is numeric

53
Q

What type of survey question has the possible answer of “yes” or “no”?
(page 29)
a. multiple choice
b. checklist
c. two-way
d. open-ended

A

c. two-way

54
Q

Why should questionnaires be short and easy to complete?
(page 30)
a. to eliminate the feeling of being rushed
b. to ensure survey information is used
c. to assist participants who may not read well
d. to give events planners time record answers

A

a. to eliminate the feeling of being rushed

55
Q

Which of the following is true regarding the APEX/ASTM standards?
(page 13-14)
a. it is a process-oriented management program for event organizers
b. it is required to be used by any event planner arranging
c. it is an international protocol for reporting on sustainable events
d. it is a prescriptive checklist

A

d. it is a prescriptive checklist

56
Q

How should an organization inform participants that an event is sustainable?
(page 16)
a. organizations should avoid bringing attention to sustainable practices
b. by advertising in the local newspaper
c. through mailing only
d. through websites, e-mails, and on-site

A

d. through websites, e-mails, and on-site

57
Q

Which of the following do event participants usually make most of their own decisions about?
(page 18)
a. food
b. transportation
c. lodging
d. keynote speakers

A

b. transportation

58
Q

When choosing a freight forwarder, event professionals planning sustainable events should look for which carriers?
(page 19)
a. USDA certified
b. carriers of the US President’s seal of Approval
c. FDA approved
d. EPA SmartWay certified

A

d. EPA SmartWay certified

59
Q

What should an event professional planning a sustainable event do before using carbon offsets?
(page 19)
a. Develop a plan to reduce transportation-related carbon emissions
b. determine what the environmental impact of the event is and how it will be measured
c. finalize the event budget
d. contact local law enforcement to gather support

A

b. determine what the environmental impact of the event is and how it will be measured

60
Q

All of the following are ways to make food and beverage decisions easier during a sustainable event except:
(page 19)
a. buy food and beverage in bulk
b. choose food in season
c. order food based on participants’ preferences at past events
d. offer only one option at meals

A

d. offer only one option at meals

61
Q

Which of the following can be composted?
(page 20)
a. aluminum foil
b. vinyl tablecloths
c. plastic utensils
d. food-contaminated paper waste

A

d. food-contaminated paper waste

62
Q

What is the ability of an organization to continue to operate during and after an emergency, crisis or disaster?
(page 24)
a. return on investment
b. business continuity
c. evaluation planning
d. contingency planning

A

b. business continuity

63
Q

What is the first step in developing an evaluation plan?
(page 25)
a. administering surveys
b. establishing how success is defined
c. measuring the return on investment
d. auditing pre-event data

A

b. establishing how success is defined

64
Q

Which stakeholder would likely be most interested in the quality and quantity of leads resulting from an event?
(page 25)
a. exhibitor
b. meeting owner
c. participant
d. keynote speaker

A

a. exhibitor

65
Q

Which of the following is not a data type in meetings and events, according to the Phillips ROI methodology?
(page 26)
a. logistics
b. return on investment
c. intangibles
d. learning

A

a. logistics

66
Q

The benefits from an event that cannot or should not be converted into monetary values are known as:
(page 26)
a. impact
b. intangibles
c. learning
d. perceived value

A

b. intangibles

67
Q

Profit or loss, attendance, and hotel room pick-up may be used to measure which element of an event?
(page 26-24)
a. program elements
b. financial results
c. site and logistics
d. exhibits

A

b. financial results

68
Q

Which of the following is not an example of on-site data that should be collected?
(page 27)
a. program content
b. understanding of content delivered
c. recommendations for future events
d. venue heating and lighting

A

c. recommendations for future events

69
Q

All of the following are measured elements of events in the category of site and logistics, except which one?
(page 27)
a. accessibility
b. technology infrastructure
c. availability and quality of venue
d. quality of food and beverage

A

c. availability and quality of venue

Certified Meeting Professional (CMP) (8 decks)

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