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categories in the MICE industry (conference (advantage (New development in…
categories in the MICE industry
meeting
corporate meeting
annual general meeting
road show
e.g Alibaba
Alibaba's founder and senior executive team had to communicate and market their story and future aspirations to institutional investors across the globe in a two-week concentrated time span prior to its NYSE listing – prior the IPO (initial public offering)
product launch
training courses
association meeting
effective meeting
meeting preparation
purpose
who
length
location
Prepare and distribute an agenda
the first meeting
air time
you versus I
interruptions
chairperson and facilitator
beginning of meeting
attendance
review
previous meeting
agenda
statement of purpose and objective
during the meeting
stick to agenda
Defer items that cannot be effectively addressed
take notes
conclude the meeting
Set the agenda for the next meeting
Evaluate the meeting
End on time
after the meeting
Consolidate and distribute the minutes
thank guests
incentive trip
benefits
In pairs, discuss the potential benefits of incentive travel.
Increases sales
Enhances public relations
Facilitates communications and networking opportunities
Fosters corporate culture and social interaction
Generates enthusiasm for the following business period
Fosters loyalty to the company
Develops team spirit and camaraderie
Can stimulate non-winning workforce
expectancy theory
Expectancy
effort will lead to acceptable performance (expectancy)
instrumentality
performance will be rewarded (instrumentality)
valence
(the value of the rewards is highly positive (valence)
conference
trade conference
takes place on a larger scale. Besides businessmen, there are members of the public who come to network with vendors and made new connections.
business conference
is held for people working in the same company or industry.
academic conference
scientists or academicians, where research findings are presented or a workshop is conducted
unconference
avoid high cost and top-down organizational hierarchy
advantage
New development in your area
Get experience making presentation
Get feedback on your work
Develop your network of contact
Learn funding opportunities and meet program officer
Learn about employee opportunities
exhibition
EXPO
definition
Bringing people together, face-to-face, to exchange ideas and information, to discuss and in some cases negotiate, to build friendships and closer business relationships, to encourage better performance by individuals and organisations.’
growth
Factors leading to growth in demand
free trade
growth in economies
growth of population
Factors facilitating the growth of supply
Development of specialist facilities such as convention and exhibition centres
Health improvements in many destinations
Components of the MICE Industry
MICE sponsor
supplier of facilities
MICE planner
supplier of services