Business Events Essay
The employees in an organization must, therefore, decide to do the right course of actions which will benefit and helps him to grow individually and would enable the organization to meet its set objectives. It is encouraged that the employees must not rely on those actions which may result in short-term profits. Significantly, the proper business events practiced an organization will automatically attract customers to the products and services of the organization thus boosting the total sales and profits generation. It also enables the organization in retaining its competent, skillful and hardworking employees thus reducing the labor expenses involved in the recruitment process involved thus increasing the rate of production in the organization. Most of the investors in the economy would like to invest in the most successful business organization in the market; therefore, when the previous company performance is perfect, and it has all that It takes, it would automatically keep the shares price high and thus protects the company from the takeovers.
The employees in such organization, their living standard would relatively be high posing the general increment on the rate of production in a country's economy thus increase on the revenue generation. In most cases, when the company does not follow any the laid down legal obligations in carrying out their social responsibilities will automatically lead to a broader effect. Such behavior mostly negatively affects a company's reputation and thus not attracting the potential investors thus limiting on the organization general growth and development hence fall in the profit generations. Currently, for most of the corporation, profit maximization is not only their primary target but also paying devotion to additional vital matters. So, commercial trade fair activities, business forums, and exhibition appear as precise noteworthy for the present contemporary civilization and new public and private companies.
There have been lots of debates, discussions, and predicaments surrounding the business events which has attracted a lot of attention from the various Conference in London. One of the primary reasons attributed to the successful trade fair and exhibition is that it contributes significantly contribute to the company's performance, community, and the nation as a whole. According to the London conference meeting, proximate are several motives why the corporate integrity can remain considered by way of an increasingly immediate extent of learning. The following are perceived to be the dominant reasons why there should provide a better understanding of the business events in the organization and the community as the whole. First of all, the power and inspiration of businesses in society are superior to ever before.
It allows the company in testing the new products and services in the market. It also increases and prepares the ground to sell the products and services in the broader scope of the market. For any company that intends to penetrate the market, it must be participating in the exhibition as they would be marketing and selling the brands of the company. To be more efficacious, today both private and public businesses necessity in maximizing on the available resources, for instance, the skills of the employees. Human resource department is the most dangerous part for officialdoms in the existing viable industry situation. It is therefore much more recommendable to address on how the company can improve on their business net worthy in the marketing department to increase their total turnover thus profit maximization.
The conducive working environment drives the employees towards the organization goals and objectives since they would be motivated. The other contributing motivator is fair, reasonable compensation and abundant benefits such as insurance and incentives based on employee performance should be encouraged in most of our organization (Hoyle, L. H. Equally financial and non-financial prizes are not merely vital nonetheless too precarious in developing employee contentment but involve them in the entire marketing plan which will influence the overall performance of the company. For the time being, wholly biosystems are considered as devising the predetermined wealth besides determinate capability. For the mentioned reason, proper anthropoid action needs to be operating at a given level whereby it would not be threatening the health of the individuals surrounding them thus increasing and improving their living standards and puts the company in far much better position over their competitors.
The MICE (meetings, incentive, conferences, and exhibitions) industry industries and the manufacturers of steel must focus on this critical issues pertaining the exhibit since it will enable the company to adequately market their products and services in the broader scope of the market. The commercial workability concentrates the organization's performance in the economy continuously. On behalf of example, it is the responsibility of the management in developing, and marketing the products and services which can generate profit for quite an extended period to the organization, therefore, the organization must understand what is all about the business exhibition. Consequently, if a corporation completes all the responsibilities, then the organization would have a decent reputation thus gaining the competitive advantage. At first, the increasing the economic trust is fundamental in marketing in the corporate social responsibility since they have their stockholders who request a fair and reasonable yield on their net investment.
It enables the company to, therefore, scrutinize on the available business opportunities in the market and invest in those projects which are expected to generate more returns over a given period (Grant, R. M. The company would be in a position to meet its short-term liabilities such as settling of the debts, paying some of the necessary bills such as the advertising cost, electricity bills. The organizations must, therefore, come out with excellent strategies such as strengthening and facilitating thoroughly the marketing department which will enable them to participate in the exhibition and trade fair activities (Moutinho, L. et al. , 2018, 81) As a result of this, the business corporation will be increasing their scope of the market thus increasing the total number of sales.
Excellent strategies enable the organization in outplaying their significant competitors in the market. The final users of the goods and services in the market are also assured of the quality and standard which occurs from the existence of competition in the market The PESTLE and SWOT analysis Strategic management is an indispensable facet in managing the current business organizations which entail formation of goals, objectives and inaugurating programs that fulfill the said goals and objectives. The SWOT is predestined in helping the businesses to maximize their strong point and eradicate on the failings, chase the available opportunities in the market and be ready for the threats. Successful investors in the market want to invest and channel their resources on those projects which are relatively risky and would reactively generate maximum returns.
Using the PESTLE and SWOT analysis The outcome of PESTLE analysis helps in informing the managers when applying the SWOT analysis. Most of the political, economic, social, technological, legal and environmental factors acknowledged by the PESTLE can be categorized as opportunities or threats in a SWOT analysis. It, therefore, enables the management to be maximizing on their strengths and maximize on their competitors' weaknesses in the market. The organization must, therefore, make sure that it utilizes fully on these resources. However, there might be some of the weaknesses which need to be addressed thoroughly such as inadequate capital, lack of reputation, high level of incompetence among the employees. There are always some of the threats which the management should adequately prepare such as stiff competition in the market, supplier dependent, and errors in the server.
Conclusion Finally, the organization must, therefore, be prepared to be involving themselves in the trade fair and exhibition since it will enable them reaching out to more customers. As seen in the report, the organization would also be in a position to partner with other new trading companies which would be interested in working closely with the company. R. S. , Janom, N. and Mastuki, N. , 2013, October. Curtis, N. G. The place of history, literature, and politics in the 1911 Scottish Exhibition. Scottish Literary Review, 7(1), pp. Davidson, R & Rogers, T. Gao, S. and Low, S. P. The Last Planner System in China's construction industry—A SWOT analysis on implementation. International Journal of Project Management, 32(7), pp. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
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