Stakeholder Review in an Event

The field of event management is rapidly evolving as a key area of study in the contemporary world. Influenced by rapid changes and development in human society, more specifically the business sector, event management has risen up to be an important field of study. These changes have been influenced by the increase in awareness among consumers of their rights, as well as the general increase in competition in the business sector. These changing trends have put pressure on businesses to demonstrate efficiency in their operations and it is important to note, that the focus of business organisations is not solely on their customers and clients but also on their stakeholders. For business’s to operate effectively in a competitive market, they are required to ensure the many needs of different stakeholder groups are met. This phenomenon has not been exempted from the event management industry, whereby event mangers are required to uphold the needs and demands of their stakeholders. Unlike business organisations, events are undertaken for a specific time and executed in a specific geographical environment. Events also involve many different stakeholders including; sponsors, employees, volunteers, suppliers, media, spectators and attendees among others. All of these stakeholders groups are classified as primary stakeholders and are of critical importance to the success and sustainability of the event. (Reid, S., & Arcodia, C. (2002). The Olympics has been categorised as a mega world event which attracts participants and spectators from all corners of the globe. Similar to other events, the organisers and managers of the Olympics have had to observe the needs and demands of all stakeholder groups. This essay will focus on the London 2012 Olympics, whereby two stakeholder groups including employees and volunteers as well as the host community will be reviewed. Also to be discussed, the relationship between these stakeholders and the event and any measures in place...