Final answer:
Tendering for an event typically involves an open and competitive bidding process. An example is a region seeking formal bids to organize its New Year's Eve celebrations, ensuring cost-competitiveness and meeting specific standards.
Step-by-step explanation:
An example of tendering for an event is a region's call for formal applications to run its New Year's Eve celebrations. Tendering, in a business context, refers to the process whereby governments and financial institutions invite bids for large projects that must be submitted within a finite deadline. This process not only ensures that the cost of the event is competitive but also that the services provided meet the necessary standards and requirements.
Partnering with organizations through tendering can lead to expanded outreach, promotion of diversity among attendees, and more cost-effective events due to combined resources. Moreover, just like government contracting out services to private companies can be a form of privatization, tendering for events such as New Year's celebrations, Christmas parties, or media events can be seen as a way to engage private entities in delivering public services or events.