Final answer:
An event in contemporary events management is deemed successful if it satisfies audience expectations, positively impacts the community, balances stakeholders' needs, and turns a profit. Partnerships are important for outreach, diversity, and cost-effectiveness. Media events and stakeholder participation also play pivotal roles in the event's success.
Step-by-step explanation:
In contemporary events management, an event will be deemed a success if it satisfies several key factors. Firstly, it should meet the needs and expectations of its audience, ensuring they leave the event feeling that their attendance was worthwhile. Secondly, there is the host community which should feel the event had a positive impact overall. This ties closely with the positive impact created by the event through social, economic, and environmental benefits.
Another key factor is balancing the competing needs and expectations of the event's various stakeholders. This involves careful planning and communication, often achieved by partnering with organizations to expand outreach, promote diversity among attendees, and utilize combined resources in a more cost-effective manner. Lastly, financial profitability cannot be ignored, as it ensures the event's sustainability and the ability to fund future events. Lessons from past events emphasize the importance of not labeling events too narrowly, to avoid limiting the diversity of the audience and overall impact.
Moreover, planned media events are strategies used to gain attention and should be considered in the context of the event's goals. It is critical for community-based projects, including events, that there is a commitment from community stakeholders and the success relies on effective participation at all levels.