Leveraging Green Meeting Strategies to Maximize Your Event Revenues
By Rani Bhattacharyya Community Economics Extension Educator , University of Minnesota Extension- Center for Community Vitality | October 14, 2012
With her finger on the pulse of the global meeting industry, Nancy Wilson with GMIC and Meeting Strategies Worldwide was keen to point out back in 2009 that what often makes sense for the environment also makes sense from a business perspective. Her sage advice still makes sense today if we consider that both ecological and economic systems strive to 1) prevent and re-direct leakage and 2) are endlessly working to uncover faster rates of conversion.
One point of difference though between the two systems is that ecosystems are continually undergoing expansion and experimentation to achieve these objectives, while a company's expansion and growth often times is dependent solely upon the mental dexterity of its management team. In a sense then, any businesses ability to survive and thrive is tied to how well it can de-centralize and foster critical thinking and analysis throughout its workflows and service supply chains.
In this article I will try to explain how encouraging and hiring employees to think green can become your facility's best defense against reputational risk. Once you have a green-minded team in place though its also necessary to equip them with the best facility, procedures and purchasing principles that reflect your company's long term commitment to sustainability; so I will also review some of the added value that implementing green hosting strategies can provide your operations. Then, in closing I will highlight a few environmentally responsible management strategies that can also provide your team new profit-generating opportunities to capture revenue, as well as some strategies that can be used to stem cost leakage since they can help protect your property from excessive liability and risk.
Establish Your Cadre of Reputational Risk Superheroes
Oftentimes the chores of scheduled maintenance checks, purchasing policy review and profit/cost center analysis are the most mundane and dreaded components of hospitality management; but do they really have to be? By taking proactive steps to utilize these tasks (along with many others) to capture new data concerning your operations social and environmental impacts, they can become opportunities where both your frontline team and managers can begin to track and eventually affect change within the quality, speed and efficiency of your operations.
By encouraging your staff to apply critical observational and analytical thinking to their assigned tasks, you and your management team also create a new body of knowledge that can be used protect your core workflows against risks such as poor customer satisfaction and vendor oversight. Adding such levels of responsibility within each of your service supply chains will also isolate the extent to which unforeseen risks (when they do happen) can spill over into other related service delivery chains.