Charles Olentine
Charlie Olentine, CEO of Consult NC Inc, has over 25 years experience in B2B publishing and from 2004 to 2016 managed the Top 50 show - International Production & Processing Expo. colentine@consult-nc.com
The Problem with Experience
January 3, 2017
"Experience is simply the name we give our mistakes." - Oscar Wilde
The lead quote of this column is all too true for me. I do not know how many times I have awakened in the middle of the night to face the challenges of things omitted in the logistics of a trade show or the realization that I possibly have made a wrong decision for a critical aspect of planning.
The lightbulb of experiencing “experience” turned on when reading an article in the stalwart publication of my generation, AARP-The Magazine (December 2016). In the article “Why Advertisers Ignore You” (referring to the older generation), the following statistics were given:
|
Generation |
Ages |
Number |
|
Greatest Generation |
89 and older |
3 million |
|
Silent Generation |
71-88 |
26.2 million |
|
Boomers |
52-70 |
72.9 million |
|
Generation X |
36-51 |
65.9 million |
|
Millennials |
19-35 |
75.5 million |
|
Generation Z |
18 and younger |
77.9 million |
In an age of data accumulation, I now realize that in gathering demographic information of attendees at the show I managed, I failed to collect the most basic of information – age. From a gut perspective, I knew that most of the attendees were probably 40 and above, but I did not pay attention to the potential of collecting the simple demographic - “age”. The show had a program that brought in a significant number of students (over 500) and a “30 Under 30” program, but that was the limit of our planning demographically by age.
Considering how fast technology has shaped our lives, it is imperative that we have an in-depth understanding of the age demographics of our attendees and relate it back to the profile of the industry we are serving. Many of us in management, in fact, do not appreciate the pace of change. Consider that the iPhone was not released until January 2007. In a short 10 years, the manner in which we structure our lives has been totally changed by a simple device. Our ability to collect information and use it strategically has grown exponentially. And the pace is getting faster. Consider how the concepts of artificial intelligence, virtual and augmented reality, and the cloud will drive change in the very near future.
I am sure the tech shows and media/marketing-related shows poll their respective attendees for “age”, but for a large number of shows in the manufacturing and traditional old line industries, there is not enough attention to this type of data. Many in show management need a wake-up call as the trade shows in the very near future will be very different from those of today and demographics related to addressing age-related life styles and attitudes will drive the change.
To quote Bob Dylan:
The line it is drawn
The curse it is cast
The slowest now
Will later be fast
As the present now
Will later be past
The order is rapidly fading
And the first one now will later be last
Cause the times they are a-changing
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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