Business Events in Global Context

Running head: BUSINESS EVENTS IN GLOBAL CONTEXT
Business Events in Global Context
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2BUSINESS EVENTS IN GLOBAL CONTEXT
Table of Contents
Introduction:...............................................................................................................................3
Background of the events:..........................................................................................................3
Social, cultural, economic and environmental impacts:.............................................................4
Marketing strategies implemented to promote event:................................................................6
Recommendation for improvement:..........................................................................................8
Conclusion:..............................................................................................................................10
References:...............................................................................................................................11
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3BUSINESS EVENTS IN GLOBAL CONTEXT
Introduction:
The organizations conducts the mega event with the intension of building both brand
recognition and establishing strong business connection. The business event is defined as the
public and private activity that comprises of people with common interest and held in a
particular venue. The need of conducting business event is influenced by the focus of the
company to educate people, to promote products, to acquire resources and to collaborate in
order to resolve any kind of given issue (Masterman, 2014). The aim of this paper is to make
comparison in between two mega events like FIFA World-Cup & Olympics. Brief
background of both the events will be presented in the paper and impact will also be assessed.
This paper will also put forth the discussion of the marketing strategies that have been
implemented in order to promote these events. Finally, recommendation will be provided to
the authority of both the events in order to make necessary improvement.
Background of the events:
FIFA World Cup is one of the largest events andquadrennial tournament of football
which determine the world champion of sports. This is one of the most popular and
international competition of football, which is performed by the members of Fédération
Internationale de Football Association (FIFA) - the global governing body of sports. This is
the most popular sporting event around the globe, catching the attention of millions of
viewers. The first tournament was organised in the year 1930 in Uruguay. Since that time, it
is used to happen once in every four year. The strategy of living football has developed the
vision for FIFA in the way of conducting football tournament with utmost success. Recently,
FIFA has implemented 2.0 plan with the intension of promoting football, protect its integrity
and thereby bring the game for all (www.fifa.com. 2020).
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4BUSINESS EVENTS IN GLOBAL CONTEXT
Olympic is another leading international sports event, which presented both summer
and winter sports competition. In this event, thousands ofathletes take part in variety of
competition. This is the foremost sports competition around the world, in which more than
150 counties take part. This game is arranged by The International Olympic Committee-
which is the not-for-profit international organisation, in which the executives are responsible
for decision making (International Olympic Committee. 2020). Olympic was first help in the
year 1986 in Greece and James Connolly was the winner of this game.
Social, cultural, economic and environmental impacts:
FIFA world cup:
The mega event can both positive and negative impact on the host community. Being
one of the largest international sporting event, FIFA world cup can have a major impact on
the contemporary society. Major profit in the international sports event comes from the sale
of ticket and television TRP. However, the host country doesn’t get this profit and the entire
money is being distributed to the tax payers. Employment is one of the major social impacts
of FIFA world cup (Du & Tao, 2020). During the event, the local selling vendors can sell
goods in front of stadium and thereby improve their financial condition. For instance, during
FIFA world cup 2014 in Brazil, in-spite of making instruction, FIFA worldcup has allowed
the local vendors to sell goods. Tourism sector can get highest benefit from the FIFA world
cup.
During the event, people from different part of world come to the host country. This is
the way, through which the local hotels make money. In this way, FIFA world cup plays a
pivotal role in the way of strengthening the local economy of host country. Economic
development and employment are most significant impact of FIFA World cup. For instance,
during the FIFA world cup 2018, both the economy and life style of Russia were largely
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