Stakeholders in events
Due to the rapid growth of the event industry, different stakeholders have become attracted and consequently involved themselves by showing their support for the industry. Bodies like the government and the corporate sector are now part of this highly professionalized industry. One recent development of this industry is that it is no more just enough to meet the needs of the audience but it is also necessary to meet other criteria such as, government objectives and regulations, sponsor needs and community expectations and media requirement. Some key stakeholders in the event industry are the host organization, the host community, sponsors, media, participants & spectators and the co-workers11.
The graph below demonstrates the relationship between these various stakeholders and the event industry itself and also illustrates their functions/ benefits. The event industry brings together these stakeholders and without these stakeholders, the event industry cannot be established neither can it function.
Figure 1.6. The relationship of stakeholders to events (2011)
The host organization
These are organizations whose responsibilities include staging or hosting events. They may be event –specific bodies, such as, the Sydney festival, the Adelaide festival or the Australian Open tennis tournament organizers in Melbourne, or special teams within a larger organization, such as, the city of Surf fun run organized by the sun-Herald newspaper in Sydney or the taste of Tasmania organized as part of the Hobart Summer Festival by Hobart City Council. (Allen et al. 2011), [17].
Host organizations produce or organize events for various reasons. While most of the festivals are organized by governmental and nonprofit, community-based organizations, other increasing forms of events are being organized by for-profit organizations, economic development and tourism agencies, and resort and facility managers. Governmental agencies and voluntary groups mainly organize events such as sport and general leisure events that are service-based and whose goals are cultural, economical and environmental. These events are usually a community developmental tool, free or inexpensive but aimed at the widest possible audience and sometimes at specific market segments. Despite generating revenue and attracting visitors being the major focus of these events, the community wishes and impacts are also vital. (Getz 1997), [20].
These sectors often try to interact with the public event sector that provides avenues for cooperate sponsorships and hosting. There are also entrepreneurs involved in the corporate sector whose interest is the staging or selling of events. The events can cover a wide variety of events, such as, sports, concert, conferences, and exhibitions etc. for the public, and in most cases the media partner co-operates with these entrepreneurs or groups in organizing these events. (Allen et al. 2011), [127].
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