The paper “ Stakeholder Analysis as a Critical Aspect in Event Management” is a great example of a case study on management. A stakeholder is a distinctive party that has a significant level of interest in the activities of a company or project in general. They can affect or be affected by the underlying level of project or organization's goals, rules and regulations. Harrison and Wicks (2013) note that it is important to understand that; for every set of events or organizations, there lies two forms of stakeholders- primary and secondary stakeholders.
Primary stakeholders are usually; an internal set of parties that are directly engaged with activities related to economic transactions of an event or business operation. On the other hand, secondary stakeholders are external parties that do not engage with an event at a direct economic level hence can affect or be affected by the event or organizations’ actions. Relationship Between Event Management And StakeholdersThe process of organizing a festival is indeed implemented by a given set of stakeholders that include; public; private and even some voluntary organizations. The fundamental purpose of events making efforts to incorporate stakeholders lies in the formulation of a given festival and its overall image, which is later meant to attract the attention and thus, the interest of the audience (Long, 2000).
For instance, the interaction of different participants results in competition thereby leading to substantive attraction of even more audience to the specific performance product at hand. Thus, it can be noted that the interaction that exists between different participants result to conflicts like the one that arises when they compete on time of participant’ s performance given that a later time may be more attractive in comparison to an early time or conflicts that emanates for who to occupy the best performance spots since central location are far much preferred in comparison to the peripheral spots.
Different stakeholders portray a unique set of interests, objectives and even marketing strategies that they use for ensuring a successful event organization (Getz, 2002). In essence, it is crucial to note that different stakeholders-regardless of whether they are internal or external to a music event- complement the existing product and services performed in order to add further forms of commercial value- which means that they greatly involve a set of value-adding new.
A music festival that is set to offer a wider spectrum of activities is expected to attract more audiences from different market segments (Getz, 2002). A good example is a music and culture festival that I attended recently were both regional and international artists took to stage to perform on eight sets of stages within the city. The event took a period of nine days with the main performance associated with the music programs.
It is also important to note that the event further involved a set of other forms of activities as restaurant street and amusement park. In the course of the day, the event was marred with a distinctive set of theatre performances; street artist skits as well as a sports competition. The very climax of the event involved a speech that was given by the Festival president at midnight. The purpose of the speech was meant to integrate the cultural aspects of the local communities to their respective identities.