This table shows some standards used in General Management. Provide specific examples for each of these standards as used in Event Management. Some examples are provided. General Management 1. REVENUE STANDARDS monetary value of sales (average rate per room / night, average sales per customer) Event Management o Average revenue per participant o Targeted event revenue o Percentage of Revenue target realized o Actual Expenses vs. Budget o Actual Attendance vs. Expected 2. PROGRAM STANDARDS for particular programs (project budget, new product development) 3. INTANGIBLE STANDARDS o Number of positive feedbacks mentioned measurement of intangibles such as loyalty, how effective is an ad campaign o Number negative feedbacks mentioned
This table shows some standards used in General Management. Provide specific examples for each of these standards as used in Event Management. Some examples are provided. General Management 1. REVENUE STANDARDS monetary value of sales (average rate per room / night, average sales per customer) Event Management o Average revenue per participant o Targeted event revenue o Percentage of Revenue target realized o Actual Expenses vs. Budget o Actual Attendance vs. Expected 2. PROGRAM STANDARDS for particular programs (project budget, new product development) 3. INTANGIBLE STANDARDS o Number of positive feedbacks mentioned measurement of intangibles such as loyalty, how effective is an ad campaign o Number negative feedbacks mentioned
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:This table shows some standards used in General Management. Provide specific examples
for each of these standards as used in Event Management. Some examples are provided.
General Management
Event Management
o Average revenue per participant
o Targeted event revenue
1. REVENUE STANDARDS
monetary value of sales (average rate per
room / night, average sales per customer)
o Percentage of Revenue target realized
o Actual Expenses vs. Budget
o Actual Attendance vs. Expected
2. PROGRAM STANDARDS
for particular programs (project budget,
new product development)
3. INTANGIBLE STANDARDS
o Number of positive feedbacks
measurement of intangibles such
as loyalty, how effective is an ad
campaign
mentioned
o Number negative feedbacks mentioned
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