The paper "Stakeholders Analysis in Organizing a Music Festival" is a great example of a management case study. Events contribute largely to the social and economic developments of any society. However, the benefits can only be realized if the events are organized with a proper emphasis on the importance of the interaction between the proposers’ and the event stakeholders. Stakeholders refer to any organization or persons that can in a way influence or can be influenced by the actions of an organization. The following are the major stakeholders of any event; host organization, host community, sponsors, participants, media co-workers. For the success of events, the interests of these stakeholder’ s must be put into consideration.
Each of the stakeholders always has a legitimate interest in the outcomes of the events. In a music festival, for instance, all the stakeholders have an interest in the performance. It is thus important to balance the interests and the requirements to make sure no conflicts arise. Good interaction among the stakeholders of the event is vital in creating the image which will, in turn, attract customers.
Balancing the interests of different organizations has always proved a challenge to many organizations. Stakeholders Analysis in Organizing a Music Festival The stakeholders involved in an event vary from event to event. These stakeholders may include organizers workers and the volunteers’ services as well as those providing contract services. Depending on the nature of their engagement, the stakeholders can be grouped as either primary or secondary. Major stakeholders include host organization, sponsors, spectators and participants, volunteers and attendees. On the other hand, secondary stakeholders are the government, the host community, and the media. Host organization The primary stakeholder in an event is the host organization.
Festival organizations are carried out by a coalition of stakeholders that incorporates the public, private organizations as well as volunteers. A music festival, for instance, can be hosted by the government, private organization or the community. The hosting organizations of any event thus fall into three categories, the government or the public, private organizations, or the community. a) Government events Events that are organized by the government are often managed by a government department. Most of the events that are held by the government are majorly meant to promote culture, tourism, social interaction and economy of the nation.
Initially, such events would have free entry for the general public (Freeman, 2010). b) Community events Community events are managed by the teams that comprise the clubs and volunteer organizations. These events are usually organized to meet the needs of the local community. These requirements could include those from the hosting region or those areas with common interests. Some of the events that can be organized by the community organizations are fundraisers. These events are aimed at benefiting the community but not any of the organizing organizations. c) Corporate events The corporate sector manages its events through a management team normally headed by a manager.
Corporate events are staged purposefully to benefit the organizers. The sponsors use the events to promote their businesses. The events also set the platform for the organizers to partner with other businesses that have an agenda similar to theirs. The events are always held at strategic locations to meet the targeted customers.