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EXPLORING THE METHODOLOGY FOR EVALUATING INTANGIBLE VALUE CREATED AT BUSINESS EVENTS
50 ABSTRACT
Business events are categorised as being part of the business tourism sector of the tourism industry. In much tourism research the financial, tangible benefit of business tourism events has been used to qualify the tourism industry value accrued from holding business events. This paper presents an argument for broader value creation recognition of business events in a role where tangible outcomes defined in organisational strategy rely for optimised value on intangible inputs many of which can be influenced within a business event. This research explores the current use by organisations of a balanced scorecard model in planning interdependent and conjoined outcomes for intangible and tangible resources. A key finding is that respondents support the concept of planning a business event to create intangible value that can influence other areas of value creation. Respondents further indicate that business event attendance is a top-down process that should ensure specific attendee knowledge improvements set in event objectives which in turn are contributing to attaining organisational strategic goals. This finding is shown as statistically significantly at p > 0.05. This argues for business events being uniquely placed as the vehicle to deliver the conjoined planning of tangible and intangible value creation in focused 'value creation mix' strategies.
KEYWORDS Intangible value, Business events, Tourism