IACC External Meetings Demand Report 2022

A student research team at the Hotel Management School Maastricht, conducted research into the influence workplace decentralisation may have on external meeting and conference venue demand. 

0

IACConline.org

Management Project - Research Report

IACC Meeting Venues

September 2021 – January 2022

Research Team:

Amélie van den Akker

Santusha Felipa

Merel Jansen

Pia von Putbus

Marleen Schuit

E-mail Project Group: managementproject.group10@gmail.com

Zuyd Hogeschool, Hotel Management School Maastricht

Bethlehemweg 2, 6222 BM Maastricht

T: +31(0)433528282

E: Infohotelschool@zuyd.nl

2021/2022

1st supervisor: Maria José dos Santos Freitas

2 nd supervisor: Jogien Wilms

Contact person: Eugène Staal

Client: Mark Cooper

Date of Completion: 20 December 2021

1

IACConline.org

Management Summary The Hotel Management School Maastricht (HMSM) was contacted by IACC with the desire to gain a better understanding of the demand for external business events, specifically post COVID-19. With the rise of remote work in recent years, employees were forced to exchange meetings in-person for virtual meetings. After elaborately reading and understanding the essence of the project brief, the following management question was formulated: “What are the current trends and factors affecting future demand for the external meeting venues that will enable IACC to predict and adjust to the changes brought on by a decentralised work environment?” Through exploratory- and literature research, a better understanding of specific factors and trends that could affect demand was gained. The seven topics identified through the exploratory research were the following: the current trends in the industry, Decentralisation of the work environment, the importance of technology in a decentralised work environment, change, organisational culture, transformation post pandemic, and the changing customer expectations. Three research questions were formulated to get insights into various relevant viewpoints to properly answer the management question: RQ1: “ Under what conditions * will strategic leaders * of large companies * , bring their teams together in real life again, considering the current decentralised work environment * ? ”

RQ2: “ What are the needs * and wants * of the clients of IACC’s venues regarding business events? ”

RQ3: “How does the perception of strategic leaders and the clients of IACC’s venues on the future of the meeting industry compared to trends and factors * , derived from the literature review? ” To answer the research questions, a combination of three research methods has been used. Literature research was used throughout the entire project. As mentioned above, it was first used to identify the initial seven topics. After conducting quantitative and qualitative research, literature research was used to explore the newly derived topics which were identified in the survey and the interviews. These research tools will be elaborated on in the following paragraphs. The second research method was a survey that was distributed via online platforms. The target audience for the survey consisted of employees that work in a high managerial position in a large international company. The survey revealed the circumstances under which the managers will bring their teams together in real life again. According to the survey findings, p eople’s motivations for gathe ring and meeting have changed as well as the purpose of meetings as they are intended to connect and engage rather than to conduct business only. If individuals solely need to discuss business matters, they will most likely do it virtually, however, if their meetings require collaboration, they will meet in-person. In addition, team buildings and training have a strong collaborative component, and participants must be present for a meeting to be successful. Virtual meetings lack the added value of an in-person human connection.

 See Glossary for further explanation

2

IACConline.org

For the third research method, semi-structured interviews were used. They were conducted with the clients of IACC's venues. This approach was used to acquire a better understanding of their needs and wants for the future of business events. These interviews revealed five factors that clients will be looking for in successful business events in the future. These are more collaboration between meeting participants, high quality of technology, a valuable way of communication, and the venues to come up with new innovative ideas. Moreover, the clients will be looking for venues that share the same values as their own corporations. The outcomes of the exploratory research, survey, and interviews were compared and analysed. Additional literature research was conducted, as mentioned in the first research method, to identify five overarching topics that are relevant to the study: flexible meeting spaces, outdoor meetings, technology, the creation of experience, and loyal customers. Collaboration and flexibility are key aspects in all these topics.

3

IACConline.org

Preface This Research Report has been completed by Project Group 10, a group of five international students from the Hotel Management School Maastricht who all took the Horizons in Hospitality minor in the third year. During this minor, students learned about hospitality in a variety of industries. The expertise and experience acquired here are well-suited to this project and are being applied to this deliverable. Our task was given to us by the Hotel Management School Maastricht in collaboration with Mark Cooper, CEO of the International Association of Conference Centres. We would like to thank Mark Cooper and Rik Hüsken, director and owner of Kapellerput, for their knowledge, trust, and enthusiasm during the meetings as well as Eugène Staal for obtaining this assignment and the introduction to IACC. Furthermore, we would like to express our gratitude and appreciation towards our first supervisor, Maria José dos Santos Freitas, for her constant patience, guidance, and support as well as our second supervisor, Jogien Wilms, who provided us insightful constructive feedback during the pitches. Finally, a special thanks go out to all the survey respondents and interview participants. Despite the impact of COVID-19, we were able to conduct all interviews via Microsoft Teams, we would like to thank all the interviewees for their time, flexibility, and openness. As a way of showing our appreciation, we planted a tree in the name of the company of the persons interviewed. Together we contribute to a better and sustainable world.

Without the help of all the parties mentioned above, this advisory report would not have been possible.

Kind regards,

Amélie van den Akker Santusha Felipa Merel Jansen

Pia von Putbus Marleen Schuit

20 December 2021, Maastricht

4

IACConline.org

Table of Contents

Management Summary .......................................................................................................................................... 2

Preface................................................................................................................................................................... 4

Table of Content..................................................................................................................................................... 5

Chapter 1: Introduction .......................................................................................................................................... 7

1.1 Background ..................................................................................................................................................................7

1.2 Actual assi gnment ........................................................................................................................................................7

1.3 The Scope of the Project...............................................................................................................................................7

1.4 Management Question ................................................................................................................................................8

1.5 Purpose of Research.....................................................................................................................................................8

1.6 Report Structure...........................................................................................................................................................8

Chapter 2: Exploratory research .............................................................................................................................. 9

2.1 Environmental Research ...............................................................................................................................................9 2.1.1 Current Trends in the Meeting Industry...............................................................................................................9 2.1.2 Decentralisation of the Work Environment .......................................................................................................10 2.1.3 The Rising Importance of Technology in a Decentralised work Environment ...................................................10 2.2 Literature Research ....................................................................................................................................................11 2.2.1 Organisational change ........................................................................................................................................11 2.2.2 Organisational culture ........................................................................................................................................11 2.2.3 Transformation Post Pandemic ..........................................................................................................................12 2.2.4 The constantly Changing Customer Expectations ..............................................................................................13

Chapter 3: The Methodology................................................................................................................................. 15

3.1 Research Questions....................................................................................................................................................15 3.1.1 Research Method per Research Question..........................................................................................................16 3.2 Research Method - Literature Research .....................................................................................................................16 3.2.1 Process of Collecting Secondary Data ................................................................................................................16 3.2.2 Validity and Reliability of the Desk Research ......................................................................................................17 3.3 Research Method – Online Survey .............................................................................................................................18 3.3.1. Target group ......................................................................................................................................................18 3.3.2 Design of the survey ...........................................................................................................................................18 3.3.3 Validity & Reliability ...........................................................................................................................................19 3.3.4 Data Collection ...................................................................................................................................................19 3.3.5 Data Analysis ......................................................................................................................................................19 3.4 Research Method - Semi-structured Interviews.........................................................................................................20 3.4.1 Target group .......................................................................................................................................................20 3.4.2 Design of the interview ......................................................................................................................................20 3.4.3 Validity & Reliability ...........................................................................................................................................21 3.4.4 Data Collection ...................................................................................................................................................21 3.4.5 Data Analysis ......................................................................................................................................................22

Chapter 4: Results & Analysis ................................................................................................................................ 23

5

IACConline.org

4.1 Analysis of the Survey ................................................................................................................................................23 4.1.1 What are the companies currently doing internally? ........................................................................................23 4.1.2 How, when and for what reason will companies meet?....................................................................................26 4.2 Analysis of the Interviews ..........................................................................................................................................31 4.2.1. The office has a different purpose ....................................................................................................................32 4.2.2 Changing motives to meet..................................................................................................................................33 4.2.3 Decisions and changes made within the company ............................................................................................34 4.2.4 Usage of External Venues ...................................................................................................................................35 4.2.5 Face-to-face vs. virtual meetings........................................................................................................................35 4.2.6 Decision Making Factors.....................................................................................................................................36 4.2.7 Trends in the Meeting Industry ..........................................................................................................................38

4.3 Literature Research ....................................................................................................................................................40

4.4 Final topics .................................................................................................................................................................42

Chapter 5: Conclusion and Recommendations ....................................................................................................... 45

5.1 Answers and recommendations to the Research Questions......................................................................................45

5.2 Answer to the Management Question ............................................................................................................. 46

Chapter 6: Research limitations............................................................................................................................. 48

6.1 Survey Limitations ......................................................................................................................................................48

6.2 Interview limitations ..................................................................................................................................................48

6.3 General limitations.....................................................................................................................................................48

6.4 Future research ..........................................................................................................................................................48

Glossary ............................................................................................................................................................... 49

Bibliography......................................................................................................................................................... 50

Appendices .......................................................................................................................................................... 58

Appendix 1: Mindmap of Ideas ........................................................................................................................................58

Appendix 2: CRAAP Test ...................................................................................................................................................58

Appendix 3: Survey Questionnaire ...................................................................................................................................59

Appendix 4: Structure of the Categories ..........................................................................................................................61

Appendix 5: The Interview Questions Scheme .................................................................................................................62

Appendix 6: Open Questions Survey ................................................................................................................................64

6

IACConline.org

Chapter 1: Introduction The foundation of the research will be explained in the following chapter. This covers the context, the assigned task, and the project scope. In addition, the management question for this project is developed, and the assignment's purpose will be specified. 1.1 Background The COVID-19 outbreak, which began in early 2020, forced nearly all countries to implement restrictive measures, with social distancing playing a key role. Many companies were temporarily closed to prevent the virus from spreading, and personnel were restricted and isolated in their homes. Consequently, COVID-19 impacted worldwide labor markets. A significant portion of the global workforce has been required to go through a remote-work experience. Most employees expected the shutdowns to last a few months. However, millions of individuals are still working remotely two years later. The worldwide workforce has adjusted to the new way of working, relying primarily on Internet connection, streaming, and video conferencing to do so (Lund et al., 2021). The International Association of Conference Centers (IACC) is an international organisation that represents small to medium-sized meetings, training, and conference venues worldwide. An IACC membership can be obtained by business event venues that meet certain quality standards and criteria. The membership provides access to a wide range of resources and industry insights that keep the member venues ahead of the curve, as well as educational and professional development options (IACC, 2021a). 1.2 Actual assignment As a result of COVID-19 and the Decentralisation of the work environment, people have begun to see the meeting industry in a new light. Venues are seeking information on how to adapt to this new meeting environment. As a result, Project Group 10 has been tasked with conducting research on existing trends and indicators impacting future demand for small meeting spaces. Answering the big question, is there still a need to meet in-person? In addition, the advice presented at the end of the research project wil l help IACC’s venues to invest in their future. 1.3 The Scope of the Project To manage expectations, it is important to determine the scope of the project. Clarifying what will and will not be covered is necessary, especially considering the 20-week time limit. After examining the brief with the client, it was agreed that the research would focus on larger international companies rather than the private sector. These companies can be seen as market pioneers, and their changes will have an impact on the rest of the industry (Kalicanin, 2018). Rather than providing future meeting industry strategies, the focus will be on providing the essential insights and research so that IACC can advise its partners.

7

IACConline.org

1.4 Management Question For IACC’s member venues to be able to adapt to a decentralised work environment, research needs to be conducted to find the factors affecting future demand. To guide the exploratory research, the following management question has been formulated: “What are the current trends and factors affecting future demand for the external meeting venues that will enable IACC to predict and adjust to the changes brought on by a decentralised work environment?” 1.5 Purpose of Research The goal of this assignment is to gain insight into the current trends and factors that influence the future demand for the external meeting industry. The outcome of the research results in collaboration with the pieces of advice mentioned in the Advisory report will be translated into an infographic as it is easy to read, analyse and are effective for a quick and clear understanding. Furthermore, recommendations will be made regarding the future meeting industry to give IACC more knowledge about the future work environment. Will changes in the work environment, such as Decentralisation, indeed have the potential to influence demand on external business events? 1.6 Report Structure This report provides detailed information on the research’s execution and design, the results of the research conducted, and the conclusions drawn for IACC. In Chapter 2, the exploratory research will be described to review previous research findings to gain a broad understanding of the field. This chapter consists of environmental research including current trends in the meeting industry, Decentralisation of the work environment, the rising importance of technology in a decentralised work environment, the need to feel safe, and giving millennials a voice. Furthermore, exploratory research is conducted about organisational culture, organisational change, transformation post-pandemic, and the constantly changing customer expectations. Moreover, based on the exploratory research conducted, research questions were formulated to define the additional information needed to answer the management question. In Chapter 3, the methodology for the research is presented together with the justification of each research method, namely surveys and interviews. Chapter 4 consists of the analysis and results of the quantitative and qualitative research conducted. Different analysis methods will be used including Enalyzer regarding the surveys and inductive coding regarding the interviews. In Chapter 5, conclusions and recommendations are formulated for IACC. By linking and comparing the results and analysis back to the exploratory research and addressing the overall management question the conclusions and recommendations will be drawn. Chapter 6 will provide the limitations of the research and suggestions for further research will be presented.

8

IACConline.org

Chapter 2: Exploratory research The following chapter presents the results of the environmental research, and the findings of the literature study will be discussed. The information requirements will be mentioned together with the research questions.

2.1 Environmental Research 2.1.1 Current Trends in the Meeting Industry

There are five current trends dominating the meeting market in 2021. Although briefly explained below, these industry trends will come back over the course of the report. This will create a better understanding of how they relate back to the project. Hybrid and Virtual meetings are here to stay While 2020 mainly revolved around virtual events, 2021 saw a rise in hybrid events. A combination of doing work online and in the office will see a rise in the future. Event planners can organise an event in-person with a limited number of guests in one location while also providing an online hub for virtual attendees to interact freely (Caramuru, 2021). Personalisation of Services With this age of real-time responsiveness, agility, and multichannel communication, customers expect companies to stay on top of all the information we provide and require. Most importantly, it is expected of them to do so consistently throughout the Customer Journey (Boudet et al., 2019). Furthermore, turning a conference with 50 to 100 attendees into an event that speaks directly to each one of them is no easy task to accomplish. As a conference expands in size, participants may feel as though it is no longer about them (McMillin, 2019). Moreover, they cannot truly develop hyper-personalised experiences unless they examine who is using the service you provide. Why are the guests coming, who is not interested, and how can we get them interested? They can then use the collected data to gain a deeper understanding of what their attendees think and feel (Shariff et al., n.d.). Technology Rapid technological transformation and a growing profusion of digitised gadgets and services have accompanied human development in recent decades. “Frontier technologies” like artificial intelligence (AI), Internet of Things (IoT) robotics, and nanotechnology appear to be facilitating the speed of development which might help businesses and hotels personalise their interactions with customers (Langford & Weissenberg, 2018). Safety and Hygiene While safety and security are important aspects of any event, they frequently take a back seat to other issues on meeting planners' lengthy to-do lists. Budgetary concerns can also reduce security considerations, particularly if the cost of other essentials rises. Although this has been a pattern for some time, the epidemic has elevated it to a new level of significance. Attendees must feel secure, not only physically but also in terms of the technology employed (Howard, 2021). Moreover, it is impossible to plan for the safety and security requirements of an event too early or too often. Early engagement with the venues under consideration will provide not just the breadth of security required, but also a deeper understanding of how the venue conducts security (Tables, 2021).

9

IACConline.org

Sustainability Meeting organisers have become far more aware of the importance of being sustainable in their operations. Therefore, the idea of “green” locations and partnerships has become more popular over the last decade. This trend has almost become a must instead of a desire in 2020 (DeFabrique, 2020). 2.1.2 Decentralisation of the Work Environment People are the driving force behind the changing and development of markets. With a shift in demographics, comes chan ging markets and this results in a needed adjustment in a company’s business strategy (Freedman, 2020). The worldwide pandemic has caused a significant shift in how people live and work around the world (Fogarty et al., n.d.). With the help of a screen and an internet connection, entire families are completing essential functions such as schooling, business, shopping from their own homes. COVID-19 has altered our perceptions of cities (Matthews, 2020). People have learned that they no longer need to live close to work since offices are closing. They might as well move further away to save the difference in rent. Employees looking for job opportunities are no longer restricted to searching in their immediate vicinity. Companies can hire qualified people halfway around the world if they want to. For the fastest-growing companies, being able to tap into talent anywhere became more important than having all their teams in one place ( Adams, 2021). This means that getting your workforce together for a weekly meeting is much more difficult when done in-person. A solution to this spread-out workforce is setting up satellite offices closer to employees' homes, also known as decentralising the office. This way of working eliminates dependency on a single central office, provides teams with accessible, flexible, and comfortable work environments. The pandemic hastened the transition to a dispersed work environment. Companies are increasingly seeking flexible workplace solutions to de- densify their existing office space as limitations are removed and people return to the office (Hogarty, 2021). The key to a decentralised workforce is staying connected. It is essential that besides coming to the office, there are frequent meetings. One of the ways the event business will rebuild, and recover will be through small, drive-to meetings. Internal meetings, workshops, and seminars, for example, will be held locally with people from a specific geographic area (Boley, 2021). To stay in touch with teams from other areas, hybrid events could then be applied (Chaudhury, 2021). 2.1.3 The Rising Importance of Technology in a Decentralised work Environment The advancement of the Internet and mobile technology has made remote work from home both possible and practicable, resulting in a more decentralised workforce structure. Companies have had to design incentives to keep workers satisfied and lured to the office (Bergeron, 2021) . What is the point of having an office if you are not going to use it? After the pandemic, some days of the week will be spent working from home — anywhere from one to three days each week. A hybrid model is expected to evolve, balancing the benefits of distant work with the benefits of social contacts, as well as the creativity and innovation created by working with others in-person ( Fogarty et al., n.d .) As office sizes shrink and workforces spread out, meeting organisers will have to start thinking small and local. Although the numbers will need to be adjusted to reflect what is permitted in each area, it is feasible to organise an event with a small number of physical attendees/participants and broadcast the sessions to a much larger audience online. Organising meetings and conferences close to where your attendees reside will help your visitors feel safe and secure. The worry of infection will automatically reduce if people are not traveling from other areas to attend your meeting. In other words, because these kinds of meetings address

10

IACConline.org

the requirement to meet with more people – more safely and effectively — virtual and hybrid meetings are here to stay (Hopin, 2020). When hosting a meeting or conference where the attendees are both present in-person and virtually, meeting quality is of uttermost importance. Engagement levels must be high from both parties, and to ensure that happens, the right technology needs to be considered in all environments. Having a solid video conferencing platform offers a streamlined hybrid conference experience that makes workplace collaboration simple, engaging, and inclusive — regardless of where guests are calling from. The main speaker in a hybrid meeting room will switch from in-room to on-video participants without warning. So, for a hybrid meeting to be a success for all attendees, you will need microphones and cameras that can pick up both audio and video (Bamford, 2021). 2.2 Literature Research Literature research is a detailed description of the topics that are discussed in the environmental research. These key topics are relevant to come to a better understanding of the issues that are at stake. The key topics are organisational change and culture, post-pandemic transformation, and the constant change in customer expectations. 2.2.1 Organisational change Organisational change is defined as a deliberately planned change in an organisation ’s formal structure, systems, processes, or product-market domain intended to improve the attainment of one or more organisational objectives (Yorks & Torraco, 2005). The impact of the COVID-19 pandemic has created an environment that is dynamically uncertain and a need for rapid change in many unforeseen areas with many organisations. When the pandemic caused the economy to crash, companies raced to stay solvent by reducing their costs to match their declining revenues. Most focused on slashing their personnel costs through downsizing or salary reductions, or both. Even before the pandemic, organisations had already started to shrink footprints and the recession is likely to accelerate that trend. However, this could be an opportunity, as well as investing in technology since COVID-19 has speeded up the needed adaptation of digital technology (Jain et al., 2020). In line with recommendations to reduce large gatherings and increase social distancing, multiple companies have asked the majority of office-based employees to work remotely. CEOs, CFOs, and key decision-makers saw the advantages of downsizing offices and collaborating remotely during 2020. The most well-known large companies such as Google, Microsoft, Twitter, etc. transitioned to part-time and permanent working from home arrangements (We Work Remotely, 2021) . Many companies would like to merge working in the office and working from home permanently or allow employees to work from home indefinitely and make it a standard practice. 2.2.2 Organisational culture The organisational culture has been reinvented in these past years, for several reasons. Millennials have become a large part of the working force. However, three other generations contribute to the working effort. These are the Baby boomers, Generation X, and the first of Generation Z. For companies, this means that they could have employees in their late teens to their early 70’s. This creates an opportunity for everybody to learn more and under different perspectives by establishing mentoring programs. Nevertheless, this can be a challenging situation for managers to handle. Furthermore, boomers are still at the origin of many company policies and work styles. With different values and expectations of each other, it becomes much more difficult to please every generation (Weikle, 2019).

11

IACConline.org

Additionally, the way of leading a team has drastically changed due to the pandemic. Pre COVID-19, leaders were able to easily control a team as they were often together in a central office. Now with the decentralised work environment, teams are spread out and often working from separate places (Alexander et al., 2021). Leaders can also stress the necessity of discipline and set limits. People who work entirely on their own tend to be less productive over time, despite spending greater hours than they did in the office. They lose their sense of direction and frame of reference. The distinction between working and not working is blurring. Workers at home do not get signals about when to turn off the lights, so they do not know when to turn them off. As a result, leaders may explain that there is a difference between work and play, and they can model this behaviour in their own behaviour (Thomas, n.d.). 2.2.3 Transformation Post Pandemic In just a few months COVID-19 changed the workplace place, forcing different and flexible ways of working, post-pandemic. The working community is now entering the era of workplace 2.0 (Prossack, 2021). Working from home has given the workplace a new meaning. What was once called an office, meeting room, etc. has become now a home or coffee shop. As the world begins to re-open, many businesses are trying to establish their new rules for work. Some changes will be permanent, others will not. Areas that are expected to stay in the post COVID- 19 workplace are: 1. Speed rate of digital transformation From physical to virtual locations, there is an expanding variety of platforms that comprise what we may call the 'workplace,' or the environment where we do our work. As society grows more interconnected through digital and physical platforms, the number of platforms for performing job activities has grown quickly. The COVID-19 pandemic has only increased demand for remote technologies that support virtual environments, as mentioned in the environmental research. Many see the working circumstances during COVID-19 lockdowns as solid proof that remote working can be successful, therefore advancing digital transformation trends. This also demonstrates that hybrid work is becoming the new normal, as mentioned in paragraph 2.1.3. Many businesses will utilise a hybrid approach in which people work from the office part of the week and remotely the rest of the time. One major benefit of hybrid employment is that it provides maximum flexibility for both individuals and businesses. It enables employees to gather and work in a physical office space, when necessary, while also providing flexibility in work locations when face-to-face cooperation is not required. The element of digital transformation will change the function of the present working environment and raise the demand for technological advancement that can assist track and managing resources while lowering capital and operational costs (Shelly, 2020). 2. Adoption of remote working Post COVID-19, remote work has become an attractive option for many employees. As the world begins to open back up, remote employees are now able to work from anywhere they have the power and an internet connection, turning work from home into work from anywhere. For employees who relocated during the pandemic, the option to continue remotely could end up being the deciding factor in keeping their job or looking for new employment (Prossack, 2021). 3. Hygiene Consideration As mentioned in paragraph 2.1.1 one of the current trends in the market is hygiene. This means that Post COVID-19, touch-free technology in offices will become increasingly essential, and it may potentially be used

12

IACConline.org

in elevators, security access, meeting rooms, offices, and other areas. Some buildings may employ health screening methods at their security gates during outbreaks. This may be seen in the increased usage of sensors and voice recognition. The adoption of touchless technology can not only help to avoid disease transmission but can also be combined with technologies that help with space utilisation tracking, optimisation, and maintenance (Arup et al., 2020).

2.2.4 The constantly Changing Customer Expectations "Businesses need to not only meet customer demands but exceed them" (IssueTrak, 2020).

Salesforce (2020) published the state of the connected customer report which summerises a conducted global survey with more than 15.000+ respondents and reveals the following the changing customer expectations and behaviours during the pandemic, the standards customers have in evaluating brands in a progressively online world, how the quick and broad shift to digital channels will affect customer engagement speaking of long-term and lastly why and how customers hold organisations accountable nowadays. 1. Connection with customers Regardless of the change of customer expectations that have hit organisations with phenomenal speed and scale, customer experience is still the number one way to differentiate yourself as an organisation (Becker, 2018). 80% of customers find customer experience just as important as the organisation ’s product or services. That figure incorporates 83% of millennials and 85% of business purchasers, that usually have high standards and are critical towards customer experience. Going beyond experience not just helps organisations generate sales, but also build relationships with their customers. All organisations – regardless of if they provided their customers with exceeding experiences before – now have to be able to meet a new set of customer needs and expectations. And these are mainly digital. Even though 54% of customers would like to see new products and services in response to COVID-19, 69% would rather see organisations digitalising their already existing products and services; digital variants of IRL experiences (Salesforce, 2020). 2. Understand your customers ‘’Great service experiences are personalised, seamless, and quick — simple in theory but hard to deliver in reality ” (Salesforce, 2020). Personalisation has become increasingly important, even so, that most customers expect each interaction, whether it be online or offline, to be as personal as possible. It drives engagement and helps with building relationships, see 2.2.1. for an elaboration on personalisation . Giving customers one- on-one attention on a grand scale is not a small task, however, customers stay aware of the possible distinction between their expectations and reality (Sitecore, n.d.). 4. Keep up with digitalisation It is well-known that customers are progressively spending more time online. Of all interactions, around 60% took place online in 2020, which is a huge increase to 2019’s 42% (Salesforce, 2020). The expectancy is for it to keep rising, even past the pandemic. As well that 80% of business buyers believe to engage more in business online after the pandemic than previously. It is more crucial than ever for an organisation to keep up with digitalisation to be able to still fill the customer’s needs (Treehouse Technology Group, 2021). Artificial intelligence is increasingly becoming more widely known. 60% of customers are fine with AI being used in customer engagement, with 66% being millennials (Salesforce, 2020). However, nearly half (48%) of customers trust organisations to utilise AI morally, while 65% are worried about the possible unethical use of AI.

13

IACConline.org

4. Show your values Digitalisation is not the only thing that influences buying behaviour. The reputation of organisations is also increasingly considered before engaging with a company. Especially since issues like climate change, gender discrimination, unfair treatments of employees, racism have been long-established and will continue to be talked about and cared about. 62% of customers have indicated that they have stopped purchasing from organisations of which their values were not aligned with their own (Salesforce, 2020). Finally, it is expected that organisations represent more than their finances. 89% of customers anticipate that an organisation ’s values are accessible and clear, along with 90% that want the organisations to show them as well. As the new generations of customers demand more control in the trajectory of their world, they will actively search for the extent to which organisations are acting responsibly towards their communities and the environment – more so than their predecessors (Salesforce, 2020).

14

IACConline.org

Chapter 3: The Methodology In the following chapter the two data collection methods for answering the three-research question (see paragraph 3.1) will be explained. To successfully conduct the data collection phase, two different research methods were used. Firstly, a survey was distributed to people with a high managerial position in a company with 500 or more employees. The purpose was to gain more insights into the vision of the large international companies on their future usage of external meeting venues. Secondly, six interviews were conducted with the clients of IACC’s venues to collect more specific information about the wants and needs regarding future external meetings. In the analytical phase, graphs were made to analyse and decipher the collected statistical survey data. Furthermore, a combination of deductive and inductive coding has been used to analyse the interviews conducted. 3.1 Research Questions The Project Group has been requested by IACC to provide insights on current trends and factors for the future of meetings, as well as their potential impacts on the meeting industry, particularly in the case of smaller meetings. It is critical for transformation and future investment in meeting venues to shed light on key concerns for future business events and meetings. The information will benefit IACC members by assisting them in determining the best strategic options, calculating demand, and balancing risk. The formulated management question can be found below. Management question: “What are the current trends and factors affecting future demand f or the external meeting venues that will enable IACC to predict and adjust to the changes brought on by a decentralised work environment?” To answer the management question, three research questions are formulated. These research questions, which are stated below, are crucial for the research project's success. It identifies precisely what information the Project Group needs to acquire and gives the project a defined focus and goal. The first two research questions target a different group. The first research question seeks to learn more about what large multinational companies are doing, while the second aims to learn more about what clients of IACC venues require from the venues for a successful business event in the future. The third research question is a comparison of the findings from research questions one and two with the literature research gathered during the research study.

Research questions:

RQ1: “Under what conditions will strategic leaders bring their teams together in real life again, considering the current decentralised work environment?”

RQ2: “What are the needs and wants of the clients of IACC’s venues regarding business events?”

RQ3: “How does the perception of strategic leaders and the clients of IACC’s venues on the future of the meeting industry compared to trends and factors, derived from literature reviews.”

15

IACConline.org

3.1.1 Research Method per Research Question In the research methodology table (see table 1), the research method, information required, and sources are explained for each research question (RQ).

Question

Research Method

Information Required

Sources

RQ1: Under what conditions will strategic leaders bring their teams together in real life again, considering the current decentralised work environment? RQ2: What are the needs and wants of the clients of IACC’s venues regarding business events? RQ3: How does the perception of strategic leaders and the clients of IACC’s venues on the future of the meeting industry compare to trends and factors, derived from literature reviews.

Online Survey

100 survey respondents

People working in a high managerial position in a ‘’large’’ (international) company with over 500 employees.

Semi-structured interviews

10 interviewees

Clients of IACC’s venues

Online Survey

Literature review such as articles from the websites, and Results of the survey and interviews

People working in a high managerial position in a ‘’large’’ (international) company with over 500 employees.

Semi-structured interviews

Literature

Clients of IACC’s venues

Literature

Table 1: The Research Methodology Table

3.2 Research Method - Literature Research Literature research is an essential part of the project. Although it is most applicable to the third research question “How does the perception of strategic leaders and IACC’s stakeholders on the future of the meeting industry compared to trends and factors, derived from secondary research?”, it is a stand -alone research method which is used throughout the whole project. When receiving a new assignment from a new client, in a new sector, probably very little is known, only what the client has told you so far. Therefore, at the very beginning of a project, literature research must be done to obtain a more precise brief. When conducting literature research, prior research findings are examined to obtain a comprehensive grasp of the topic (Travis, 2021). Secondary research, often known as literature research, is a type of research that makes use of previously collected data. This research method involves collecting data from the internet, government documents, books, and other already conducted research (Chaudhari, 2021). It starts with a broad concept, and the research findings are utilised to uncover connected concerns to the study topic. 3.2.1 Process of Collecting Secondary Data During the initial exploration phase, literature research was conducted to better identify the main topics of interest. Online databases such as MIT Sloan, SAGE Journals, and JSTOR were used to collect data on past research. These sources provided academic journal articles, books, and primary sources written by reputable authors. Websites such as Deloitte and McKinsey & Company were looked at as they are business consultancy

16

IACConline.org

companies that specialise in many industries. Finally, websites such as the PCMA and the ICCA, are organisations specialised in the business events industry. Out of the analysis of these sources, a brainstorming session was held where all topics were visualised in a mind map. Nine study areas were identified. Further literature research was conducted to obtain a deeper grasp of these topics. Due to this exploratory research, the project began with a stronger foundation of knowledge. The nine topics were the following: trends in the industry, the changing customer expectations, organisational change, the need to feel safe, millennials, transformation post-pandemic, organisational culture, the rising importance of technology, and the Decentralisation in the work environment. The complete mind map can be found in Appendix 1: Mind Map of Ideas . The search for publications was narrowed down by doing several things. In order to get relevant information, the publication date had to be between the years 2018 and 2021 (Groningen, 2021). The meeting industry is constantly being revolutionised and information from 10 years ago might not be relevant anymore today. For one source from 1993 and some sources, published between 2005 and 2017, an expectation was made as they still presented general relevant information. Additionally, the sources had to be published by a reputable author or institution to minimise the possibility of inaccurate or false information. Checking for any bias in the article and whether the author has the necessary qualifications in the field of research are necessary when checking for relevant information (Mandalios, 2013). Any citations made in the sources used were also checked to make sure the claims made by the source are backed up with relevant and correct sources. The information gathered during the initial literature research was then used to ask informed and relevant questions to the client during the exploration phase of the project. Asking smart questions can lead to the client providing some guidance or direction, revealing their preferences, or assisting you in getting to the root of their problem (Bostic, 2020). The data collected during the initial exploration phase will be used to identify the topics for the interviews and surveys. During the data collection, new ideas that might arise will consequently also be researched. Additionally, the literature research done is essential to make a comparison with the primary research acquired from the survey with the large companies and the interviews with the clients of IACC’s venues. At the end of the data collection phase, the data collected from the three different research methods will be compared and contrasted to formulate well-supported advice. 3.2.2 Validity and Reliability of the Desk Research When evaluating the validity of data from a secondary source, it is necessary to check if the data collected from that source is relevant to the topic which is being discussed. A reliable source is one that offers a well- thought-out, well-supported idea, argument, or discussion based on solid facts (Burnham, 2008). To check the reliability and validity of the sources, the CRAAP test was used. CRAAP is an acronym for Currency, Relevance, Authority, Accuracy, and Purpose. In short, this test helps check who published the source, the purpose of the source, when it was created/updated, and it is content (Benedictine University, 2021). A full explanation of the CRAAP test can be found in Appendix 2: CRAAP Test.

17

IACConline.org

Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65

Made with FlippingBook Learn more on our blog