Kishen

Event Management: Wikipedia defines event management as “the application of project management to the creation and development of large scale events. It involves studying the brand, identifying the target audience, devising the event concept, planning the logistics, and coordinating the technical aspects before actually launching the even”. This definition is an accurate representation of what event management is.

Event management is one of the most sought after and rapidly growing service industries in India. As more and more products that are adding value to the customers are coming up in the market, Servitization of those products, marketing, projecting and all other background score falls under an event management category

There are enough misconceptions about event management. It is not just arranging parties or wedding ceremonies. Of course, it involves large scale social events but is not limited to it. Just find a venue, come up with a good theme, get some food and drink, book a band, and send the invites out on time, this is not event management. If it is done by anyone and everyone, then it is not event management.

Unfortunately, like many things that seem simple creating a successful event requires a lot of hard work and a diverse range of skills and experiences from project planning to budgets. It is a study of project management, including logistics and supply chain. A lot of mathematical calculations and scientific theories goes into planning a large scale event like International conventions, industry exhibitions, governmental summits, etc,

With over 25,000 event businesses and over a million0 people employed in events both in the organized and unorganised sector, the event industry adds at least or more than 1% of the total GDP of the Indian service sector, having a much broader spectrum of usage across all industry types. As the types of events currently popular in the country demonstrate:

• Parties, launches and events for companies marketing and branding projects
• Exhibitions- Kumbh Mela events to auto fares and HR exhibitions
• Political rallies and campaigns
• Summit- G20, UN summits
• Elections and democratic events
• Sporting events– from the Olympics to FIFA matches.
• Roadshows, conferences and other events – from Apple events to TED-X to IPO (Initial Public Offering) Projects and Educational awareness programs like that of AIDS or Cholera.
• Wedding ceremonies
• Concerts
• Fundraisers and charity– from Marathon to high profile fundraising events.
• Fashion shows to marketing campaigns– from Mumbai Fashion Week to Milan Fashion show to Nike pop up events and Coca Cola engagement marketing.

Given any, across the business, health, education, charity, sport, hospitality, leisure and tourism, run events to make their connections, it’s no wonder that event management is predicted to grow to $70 billion by 2022!

So it’s sure shot prediction that a career in event planning and management can give you a resourceful and a bright future with financial independence and job satisfaction.

Also, Refer: M.Com Course Details

Event Management | Event Planning Course Details – Fee, Duration & Career Options

This article will give you a brief idea about all the aspects of event planning and management.

If at all you would want to pursue this course, why would you do it?

Why should we study event management?

• Concerning this attribute, there are a few factors involved before we can convincingly conclude, which option is better. An MBA or any business course in event management from top tier Universities like Mumbai University or Bangalore University or JBIMS can cost you more than 2L, in fee, for two years but still has an ROI is around 0.5. But then again, it’s a top school, the likes of which getting into one are highly thin on the ground. But there are other equally good top schools like JNU (Jawaharlal Nehru University) or other public universities whose fee is not more than Rs. 25,000 per year.So the ROI here can be as high as 10. The average pay package provided to students during on-campus placements in these schools is around 2 to 4L per annum depending on the experience and competence of the student.
  On the other hand, to clear all the same in tier 2 or tier 3 colleges can cost you Rs. 50,000. While the average pay package for an event manager, in the beginning, will be around 6lpa. Career growth is strong and robust.
• Job satisfaction: Are you content with working on your own for other companies as an outsider or are you someone who is excited or dreamt of working for the likes of Olympics, FIFA or IPL? I ask this question simply because while event mangers are mainly confined to having their small businesses at the beginning of the career trajectory, an MBA in event management teaches you the ins and outs of the event management business world. An MBA can teach you to be a business leader, train you to be the next big thing and I am not even exaggerating.
• Passion and interest- Making people happy and content with your job is a soul-satisfying job. While pay is one aspect, just to follow your passion is a whole other thing. If you have a bend of mind for event planning right from your childhood, then you have a high probability of being a success in this career path.

So what does it take to be successful in event management career path?

1. Strong negotiating skills

   You will mostly be dealing with people from the top management level of the companies, who might be above your pay-grade, so to deal with such people requires strong negotiating skills to have leverage over your business and clients.

2. Perfectionism

   In event management, perfectionism is the key and success factor lies in the detail and every detail that matters. This includes keeping track of all details required to do your work efficiently, whilst also enabling other people to understand exactly what’s required of them and when. This job is a type of job where time is of the essence.

3. Organizational skills

   Having skills and capability to organize planning, assets and human resources. All of them should work in tandem and it’s the event manager who is responsible for that. Scheduling and tasking is a valuable skill needed.

4. Creativity and innovative

   Creativity isn’t only important for designing the branding and marketing aspect of every event, but also in coming up with solutions to the inevitable problems. You need to be ready with alternate plans and systems should be in place in case unforeseen and unavoidable circumstances.

5. Multitasking and balance between responsibilities

   At the very same instance of time, an event manager might be booking an act for a play for a drama, while next talking to the CEO of a global company for his next event and also convincing his boss about the reports – the event planner role is an immersed of multitasking.

6. Budgeting

   Managing excel spreadsheets and having a clear opinion of spending on negotiating affordable prices, effective budget management is a skill for success in event management.

7. Team player

   Working for a team or managing a team by being its leader when the situation demands, is an important skill – without successful teamwork, no event can deliver, or be delivered, effectively.

8. People skills

   With You will be working with people from different walks of life, from janitors to cleaners to CEOs and celebrities, your ability to inspire, relate to and communicate with anyone (from clients to caterers and crew) is of vital nature.

So once you are into the course, the following are the topics you will mostly be studying and implementing in the industry:

Important subjects in Event Management

• Human Resource Management
• Finance Management
• Communication Skills
• Inter-Department Coordination
• Catering Management
• Event Planning
• Budget Planning
• Logistics
• Law and other legal aspects
• Marketing
• Advertising and Promotion
• Branding and Brand Promotion
• Public Relations
• Media Management

University is not the only way you can get into this field.

1. Volunteering- Being passionate about this career is all that it takes to volunteer and kick start your journey. This type of volunteering with degree or training offers you a firsthand real-world experience of what’s involved in putting events together, adds experience to your resume and helps in building a portfolio. It helps you develop your network in the industry and brings you close to recruiters and event management companies. This can also help you decide if you are cut out for the job or not.
2. University Degree-Over 100 universities in India offer a degree course in event management.
   Some of them are
   1. The Indian Institute of Learning and Advanced Development, Haryana
   2. SVKM’s Harkisan Mehta Foundation Institute of Journalism and Mass Communication
   3. S. Dempo College of Commerce & Economics
   4. National Institute of Event Management, Mumbai
   5. Pearl Academy, Mumbai

3. Courses and Training– There are plenty of dedicated event management training courses available. Whether you’re starting from scratch, have already taken a degree or want to change careers, there are plenty of opportunities. Learning experience which is quicker than traditional university routes and includes that vital industry experience to support the start of your career as an event planner.

Do Check: BCA Course Details

Event Management Roles and Career Options

What are the various roles and designations you will be getting once you graduate from the course:

• Logistics Manager
• Celebrity Manager
• Advertising and Marketing Executive
• HR Manager
• Brand and Image Specialist
• Resources Purchase Manager
• Consultant
• Event Planner
• Event Coordinator
• Event Manager

FAQs on Event Management

It’s that time of the year again, where hundreds of thousands of students across the country have just finished their 12^th standard exams, spending a small time vacation and a get-away with their families, before getting ready for the admissions round. While preparing for the exams takes one kind of effort, the things that need to be done after the exams are a whole different avenue of head-ache for students of the present generation.

BBA Vs. B.Com

The competitiveness and the level of ambitions around the country have increased multifold compared to the atmosphere in the 90s. There are plenty of career choices for the students to choose from and this can be overwhelming. From their parents to siblings to uncles, aunts and all the well-wishers, a flood of opinions and career advice will be pouring down, just to make the matters worst.

Get all your documents ready, do well-read and thorough research on every career option you have come across, match it with what you want to do in life and why. Once your mind is clear and you have at least narrowed it down to two-three options, sit back and relax, this article will help you with it. This article will be especially talking to students who are confused with two of the most popular career choices in India, BBA and B.COM.

Every career opportunity provides you with different pros and con,

The same goes for BBA and B.Com.

Below are some of the things that a degree in these two can fulfill-

The above terms are self-explanatory and is the reason mainly why people pursue these popular courses

These are some of the questions we will be tackling in this article today, which will help us understand which course is better and for whom:

1. What?
2. Why?
3. How?
4. Where?
5. For what?
6. What next?

Also Check: BBA Course Details

BBA Vs. B.Com – What?

Bachelor of Business Administration or BBA is a 3-year full-time professional undergraduate course in Business Management. BBA course equips you with the right knowledge and skills in business and management and imparts knowledge of the principles which are perfect for a career in the corporate world. A degree in BBA is offered by private universities, deemed and Deemed-to-be universities and public and autonomous institutions. The course curriculum is mostly guided by the UGC (University Grants Commission) and AICTE (All India Council for Technical Education). This course is mainly for students who are interested in getting into the managerial aspects of the business world.

B.Com which stands for Bachelor of Commerce is a study of Accountancy, Cost Accountancy, Taxation, Auditing, Business Law, Economics, Business Administration, etc. There are plenty of other optional subjects of the students to choose from, for example, Statistics and Banking which depend on the university and its style of pedagogy design. B.Com is a course for students who are good at and have a favourable bend of mind for numbers and analytics. It also consists of a theoretical study, and most students will be able to pursue an additional course like CA, CS etc. to strengthen the required skill set in this field.

Some of the subject you will be studying if you pursue BBA are:

• Human Resource management
• Operations management
• Marketing and sales
• Corporate finance
• Business analytics
• Business development

Some of the subjects you will be studying if you pursue BBA are:

• Statistics
• Accountancy
• Cost management
• Economics
• Mathematics

BBA Vs. B.Com – Why?

• Do you have the managerial skills?
• Are you a born leader?
• Are you someone who is naturally inclined to make money?
• Are you interested in business?
• Are you impressed with the first business management in your family?

If the answer is yes to the above questions, then a course in BBA is a perfect one for you to hone your management skills and propagate it to build and bright robust career for yourself. I say this because being a business’s manager is not for everyone. I am not saying it’s a born skill, but you need to have that bend of mind built into you, right from a young age, to make a mark in this field.
So once you have understood your character and persona s fit for BBA degree, why would you want to do that?

Here is a list of the whys?

1. Get into the power corridors of the business world
2. Tap into your entrepreneurial ambitions
3. Your career will be industry independent because business managements required across all the industries and sectors.
4. Develop a robust network
5. Mark a dent in the business world with your skills and competency.

On the other hand,

• Are you good with numbers?
• Are you someone who does the monthly budget for your dad?
• Are you a money-minded person?
• Is your logical and analytical thinking good?
• Are you someone who does critical reasoning in every situation?

If the answer is yes to the above questions, then a degree in B.Com is a perfect one for you to pursue your dream career.

From auditing the biggest of the big companies to taxation laws, corporate finance, derivative, stock brokerage etc, There is no stopping you if you are into financial aspects of the world. A bright career with plenty of option to choose from will be waiting at your doorstep if you are good at what you do along with required certificates in your hand.

So why would one choose to pursue a career in B.Com?

1. Interest in taxation and corporate finance
2. Interest in holding companies financially accountable
3. To work independently or have entrepreneurial dreams
4. Have bend of mind for stock markets

BBA Vs. B.Com – How?

BBA Eligibility

For admissions into BBA courses, students are needed to clear the 10+2 or equivalent examination from any recognized board or school. Some colleges consider the criteria for securing 50% marks in the qualifying exam. The age should be between 17 to 25 years.

B.Com Eligibility Criteria:

Eligibility criteria for B.Com course: The candidate must have studied Commerce in class 11 and 12 with Accountancy, Business Studies, Economics, Maths/optional subject and English as main subjects. The candidate must meet the minimum cut-off criteria for admission to the college applied to.

BBA Vs. B.Com – Where?

There are plenty of college and universities in India that offer both BBA and B.Com and have a good reputation among its students

These are some of the top colleges in India to pursue a career in B.Com

Some of the top colleges in India for pursuing a degree in BBA are:

BBA Vs. B.Com – What next?

Ultimately, we purse degrees to have job satisfaction and financial independence. Passion and ambition also come into account, provided the first two aspects are fulfilled.

Some of the career options once you have purse a degree in B.com are:

1. CA (Chartered Accountant),
2. CS (Company Secretary),
3. ICWA (Institute of Costs and Work Accounts) or CMA (Cost Management Accounting),
4. FM (Financial Management),
5. CA (Cost Accountant).

• CA (Chartered Accountant)- Chartered Accountants are simply those who do auditing of financial statements, fill up corporate taxes, give financial advice, etc. CA’s deal with areas like Taxation, Accounting & auditing, applied finance, management accounting, etc.
• CS (Company Secretary)- Company secretaries are the ones who basically run the companies. Their primary role in a company is to look after the day to day running of the company. They have to look after the legal, administrative, and many more functions in a company.
• ICWA (Institute of Cost and Management Accounts)- The CMAs are the specialists who deal with framing the business strategies and value generation. It is their job to draft and put into effect everything that deals with the financial conservation of the company.
• Financial Management- Financial Manager’s job is to manage the finances of the company. It is his work to make sure that the funds available should be spent effectively. His job affects the profits and losses of the company.
• Cost Accountant- There is a difference is Chartered Accountant and Cost Accountant. Initially, the subjects covered in both are the same. But the job of Cost Accountant is to plan the annual or yearly budget. Whereas chartered accountant has to audit the budget.

Some of the career options once you have purse a degree in B.com are:

• HR(Human Resource) Manager- The vital job of an HR manager is to administer and maintain the HR department. A new recommendation in a company is raw and needs to be worked on. It is his work to recruit new employees in the company and then look after their overall well being.
• Operations Team Leader(OTL)-The OTL’s job is to deal with the administration of the services provided to the customer of the company. They also work towards maintaining the condition of the building & equipment of the company.
• Project Manager -The Project Manager is the link between the higher authorities and the working staff. He leads and reports the functioning and progress of the projects taken over by the company. He is responsible to look after and set the project effectively.
• Business Consultant/Business analyst- A business consultant is responsible to help the companies to deal with the different challenges that the companies face. He/she helps them be up to date with the upgrades and new technologies that run the world. To inform them about the new suitable keywords of the technological world and run the business in line with the changing technological landscape in the industry.
• Business Development Executive- The job of a Business Development Executive is to basically analyze the current market and business trends. He has to create plans to boost up the business. He also provides with the outlining of costing and accurately investing the money in the project.

Both BBA and B.Com have their own bright spots and limitations. It all depends on what are the students’ needs, desires, aptitude and ambitions.

Must See: B.Com Course Details

FAQs on BBA Vs B.Com