Meetings could actually cost a lot for the company. This is a fact overlooked by many managers and thus over expense occurs. The standard expense according to an article by Betsy Bondurant entitled “Getting Started with Standard Meetings Management Programs” estimates about 1% to 3% of the total company’s revenue. The numbers may seem low but if given worth of a big company worth 100 billion, the expense on meetings would be 1 to 3 billion. This huge loss on meetings expenses drives the motivation for setting up strategic management programs. To start off a successful strategic program is to define the scope of your meetings expenses. This includes the frequency of meetings to be conducted, the amount of expense (maximum) per meetings and the number and identities of the people in those meetings. Like solving a word problem in mathematics, similarly it is beneficial to know the parameters of all the meetings that are conducted and thus be able to plan ahead. A challenge to this early part of the plan which are recognized by Shimon Avish, Global Account Director, on his article entitled “A New Way to Launch a Strategic Meetings Management Program” is to engage the stakeholders on the said program. Bondurant expressed an answer to this difficulty by having an organized plan to communicate the policy. The frequency of publicizing the policy within the company starting from the C class workers while taking into consideration the variety of approaches for different people is of paramount importance which would help the policy for strategic meetings management take into shape. Emphasis on the importance of the policy by using short but descriptive and powerful statement will strengthen the policy.
References
Bondurant, Betsy. “Getting Started with Standard Meetings Management Programs”.
Retrieved April 28,2014 from MeetingsNet.com
Avisg,Shimon. “A New Way to Launch a Strategic Meetings Management Program”.
Retrieved January 22, 2016 from MeetingsNet.com
