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A destination marketing organization (DMO) is an organisation which promotes a location as an attractive travel destination. DMOs are known as tourist boards, tourism authorities or "Convention and Visitors Bureaus". [1] They primarily exist to provide information to leisure travelers.
Meetings, incentives, conferences and exhibitions tourism (MICE tourism) is a type of tourism in which large groups, usually planned well in advance, are brought together. Recently there has been an industry trend toward using the term "meetings industry" to avoid confusion from the acronym. [ 1 ]
In 2012, the total value of the Chiang Mai MICE industry reached 3.9 billion baht, of which 3.8 billion baht was contributed by 46,826 foreign MICE travellers. [25] In 2016, Chiang Mai was ranked 28th among Asia-Pacific and Middle East cities based on the number of meetings that took place, [26] rising from its rank of 34th in 2015. [27]
Meetings occur regularly for internal communication, decision-making, and strategic planning, contributing to a stable and prominent market position. The diversity in the scale and purpose of meetings, ranging from small board meetings to large international conferences, allows the MICE industry to cater to a broad spectrum of business needs.
In management, a stakeholder approach is the practice that managers formulate and implement processes that satisfy stakeholders' needs to ensure long-term success. [1] According to the degree of participation of the different groups, the company can take advantage of market imperfections to create valuable opportunities.
Real stakeholders, labelled stakeholders: genuine stakeholders with a legitimate stake, the loyal partners who strive for mutual benefits. Stake owners own and deserve a stake in the firm. Stakeholder reciprocity could be an innovative criterion in the corporate governance debate as to who should be accorded representation on the board.
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Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.