Viability of Event Management Business in Batangas City: Basis for Business Operation Initiatives

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Viability of Event Management Business in Batangas City:

Basis for Business Operation Initiatives

Jeninah Christia D. Borbon

Lyceum of the Philippines University

Batangas City

ABSTRACT

The research study on Viability of Event Management Business in Batangas City: Basis for Business Operation Initiatives aimed to assess the viability of this type of business using Thompson’s (2003) Dimension of Business Viability as its tool in order to create business operation initiatives. It provided a good framework for defining success factors in entrepreneurial operation initiatives in a specific business type – event managers. This study utilized event organizers based in Batangas, a southern popular province, which also is a great popular destination for many types of events.

Findings showed that the event management business in Batangas City is generally a personal event type of business whose year of operation ranges from one to three years, mostly link to church or reception venues and usually offers on the day coordination.

In the assessment of its perceived viability, it was found out that this type of business is moderately viable in terms of market, technical, business model, management model, economic and financial, and exit strategy.

Among all the dimensions tested, only market, management model, economic and financial, and exit strategy showed significant relationship with the profile variables of the event management business.

From the enumerated problems encountered, those that got the highest rate were demanding clients, overbooking of reservation/exceeding number of guests and failure to meet spectators and/or competitors expectations.

And, the recommended business operation initiatives were based on the weaknesses discovered using Thompson’s Dimension of Business Viability Model.

Viability of Event Management Business in Batangas City:
Basis for Business Operation Initiatives

Event management is a multi-million dollar industry, growing rapidly, with mega shows and events hosted regularly. The recent growth of festivals and events as an industry around the world means that the management can no longer be ad hoc. Ad hoc generally signifies a solution designed for a specific problem or task, non-generalizable, and which cannot be adapted to other purposes. Thus, a standard in managing events should be designed as a general guide.

Events and festivals, such as the Asian Games, have a large impact on their communities and, in some cases, the whole country. These impacts generally include economical, socio-cultural and environmental impacts, and should be seriously considered. The industry now includes events of all sizes from the Olympics down to a breakfast meeting for ten business people. This means, from an event with millions of people to an event for small group only (Goldblatt, 2004).

For a flourishing industry such as events industry, it is vital to assess whether it is a viable business in a specific place, so as to make sound decisions in the allotment of investments. One tool that most investors rely upon is a business feasibility study which specifically discusses the various dimensions of business viability. The examination of viability is very vital for the future decisions of present and prospect entrepreneurs in the event industry.

In the Philippines, demand for special service in the hospitality industry urged many entrepreneurs to specialize on this aspect. They range from large companies to those small-scale entrepreneur who uses only their creativity, connections and time to make an event extra special for their clients.

Their skills in organizing, technical knowledge, personal relation, marketing, advertising, catering, logistics, decor, glamour identity, human relations, study of law and licenses, risk management, and...
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