Is Corporate Entertainment Worthwhile?
The subject title is the question that every Finance team will ask – what is the true benefit of Corporate entertaining?
The popular perception of entertaining is one of a hidden bonus or a thank you to the customer, but this is a narrow view – the benefits of entertaining are wide and varied.
Meeting on an informal setting is about getting to know and understanding the client in a relaxed surrounding. Understanding them as a person and allowing them to understand you. This helps you build and maintain a business relationship and allows you to discuss business in a more open way in a neutral relaxed environment. It also helps build the image of the Company.
Attending events also gives you the ideal opportunity to network with like minded professionals. This can only be a benefit as it allows you to share market information and again build up a network of contacts.
Corporate entertaining also has a social and charitable aspect. Recently NorDan attended the Nordoff Robins Charity golf day with two clients. Nordoff Robins is a Charity that uses music therapy to help change the lives of vulnerable and isolated people across the UK. This event was attended by construction professionals across Scotland and allowed us to network and make contact.
To quote Richard Branson ‘More deals are done on the Golf Course than the Boardroom’ who are we to argue with that.