The Importance of Events in Junior Enterprises

Updated: Aug 24

Written by Nicole Lopez


Introduction


This article will focus on how Junior Enterprises (JE) can benefit from events. It will be centred around how events within an organization promote growth and networking as well as help with recruitment.


Growth


JEs are non-profit organizations formed and managed exclusively by university students. They provide services for companies, institutions, and individuals that focus on growing and are constantly looking for business opportunities (JADE, 2018). A key player in any JE’s growth are partnerships with other JEs from different or even the same country.


Partnerships can be achieved through events such as networking and workshop events. These events help JEs network among each other and start a business relationship that could possibly lead to a partnership. Once a partnership is established it can be used to grow the customer base and improve businesses. For instance, WBC has successfully completed several projects with partnerships from outside the UK and is constantly looking for new business opportunities.

Furthermore, events help promote the business by promoting it in new markets and help them connect with new clients. For example, hosting workshops enhances the business database giving the business the opportunity to reach new clients that can then refer to other clients. On the other hand, hosting panels allows people to come in and ask questions about the business in order to learn more about the business and promote it in the future. Having live events and promoting them on social media helps spread the word of what the business is doing and can potentially attract new clients.

Events are a way to market a business without having to try and sell the business services. It also allows custumers or future partners to understand the business and aspire to work with a JE.


Networking


Networking is an important aspect in any business, because it allows businesses to make new relationships and build on old ones. For example, attending JE events helps entrepreneurs step out of their comfort zone and create new relationships. These relationships can lead to long lasting friendships or future business partners.

Networking events are not limited to confederations and but also to competitions, workshops and meetings. Competitions allow other businesses to work together or against each other, therefore promoting communication within the network. Also, in-person meetings are 85% stronger and more meaningful than digital communication (Achola, 2017). Additionally, networking events gives people the opportunity to practice communication skills and eventually get better until they are able to pitch their business to others.

Hosting networking events directly reflects on the businesses’ reputation and can lead to great business marketing. When looking at WBC, hosting the JADE Autumn Conference in 2018 gave WBC the opportunity for the attendees to get to know WBC and their team; as well as build relationships with members of the JADE board.

Communication and interpersonal skills are very powerful divers of a businesses’ success (Tourian, 2018). Networking events allow face-to-face communication which is proven to be one of the most effective ways to connect with a person. “In the simplest of terms, networking might be referred to as the lowest-cost marketing method many businesses can employ” (Achola, 2017). Therefore, investing in networking events gives a business another approach to advertising their business as well as giving people the opportunity to get to know likeminded people and build new relationships.


Recruitment


As stated before JEs are small businesses, therefore not a lot of people are familiar with the concept or have a JE within their university. Hosting recruitment events allows the future employee to get to know the people they are going to be working with and ask questions about the workplace. Furthermore, it allows employers to get to know the person and evaluate their body language and reactions from the experience of being out of their comfort zone.

A possible recruitment event is a “Getting to Know” evening where people can come in and hear testimonials of people working at the company to get a better idea of how the business works and their values. This will also allow people to network with future employees and, even if they do not apply for the job, it is good to keep in contact because that person may work in a related company in the future. The “Getting to Know” event will help people applying for the job understand what their responsibilities are going to be like and motivate them into applying for the job.

Since JEs are student run they constantly have to recruit new people because their staff graduates or leaves due to their studies. This means that recruitment plays a very important role in keeping the business alive for future generations. Companies have different departments which require specific skills. These skills can be assessed in recruitment events and help with the recruitment process. Within WBC there are 8 departments which take care of different aspects of the company. Having a team that works well and effectively communicates is very important, being able to recruit the correct people is crucial for the business to work efficiently.


Conclusion

In conclusion, events play a key role in a business due to their growth, networking and recruitment responsibilities. As stated in Entrepreneur Magazine “Chief Marketing Officers at leading companies realize that the power of face-to-face marketing can’t be supplanted by digital tricks and tactics.” (Boitnott, 2018).


Events are a great way to engage in face-to-face communication with future clients, partners and employees. Events are an opportunity for the business to get in touch with other people and build onto their database as well as work in teams to organize the events. The networking for events truly starts within the company when planning the events and continues into networking within the events with the attendees.


References


Achola, B. (2017). How to Use Networking Events to Build, Maintain and Grow Your Business. Jeffbullas’s Blog. Available from https://www.jeffbullas.com/use-networking-events-build-maintain-grow-business/ [Accessed 17 December 2018].

Boitnott, J. (2018). Why Live Events Are Rocket Fuel for Business Growth. Entrepreneur. Available from https://www.entrepreneur.com/article/315643 [Accessed 17 December 2018].

Junior Enterprises Network | European Confederation (JADE) (2018). JADE. Available from https://www.jadenet.org/# [Accessed 17 December 2018].

Tourian, P. (2018). The Constant Benefits Of Networking. Forbes.com. Available from https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2018/05/01/the-constant-benefits-of-networking/#42c1f473f633 [Accessed 17 December 2018].

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