Global Events: Diversity, Cultures, and Impact on Economy

This document explores the diversity, cultures, and roles of global events, with a focus on the London Olympics 2012. It discusses the impact of global events on the economy, responsible strategies to support them, and conducts a PEST analysis. The subject is Event Management.

GLOBAL EVENTS

Table of Contents
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P 1 DIVERSITY, CULTURES AND ROLES OF EVENTS.....................................................3
P 2 CONTRIBUTION AND MOTIVATION BY GLOBAL EVENTS...................................5
LO 2 ................................................................................................................................................6
P 3 IMPACT OF GLOBAL EVENTS ON THE ENVIROMENT OF THE ECONOMY.......6
P 4 RESPONSIBLE STRATEGIES TO SUPPORT GLOBAL EVENTS................................7
LO 3 ................................................................................................................................................8
P 5 PEST ANALYSIS OF GLOBAL EVENTS .......................................................................8
LO 4.................................................................................................................................................9
P 6 SWOT ANALYSIS OF GLOBAL EVENTS ......................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Global event is the platform which help the population to connect to it across the globe.
The events can have many types and it is done to gather the population which are interested in
the activities and can also participate in it. Global event has also captured the market as in
business point of view as the event planners have to establish a better analysis of all the factors
which will help them to boost and attract the population to participate in it and support the
activities which are performed. Global events can be for sports, business, Music. And the event
companies have reached this stage due to globalization and liberalization which also helps the
population to connect to the different culture and increase their knowledge. As in this report
there is a brief description about the London Olympics 2012, which was held in London stadium.
Is a sport event which is very popular across the world as in this event there are many
competitions among the different sport players which are playing for their country to win the
medal and make the country prouder. This Olympics also help in increasing much awareness to
the population.
LO 1
P 1 DIVERSITY, CULTURES AND ROLES OF EVENTS
It is very important for the events to connect with the population by making sure the
different aspects of the activities of the events is analyzed properly and effective. London
Olympics was also successful in attracting the people with its charm and fan following the
satisfied their citizens according to their expectations. (Ferdinand, Shaw and Forsberg , 2017)
Diversity
1. Local Events- they are the vents which are organized by the event planner for the local
community which will involve them into the activities according to the nature of the
events. These events are small events which do not have much coverage and also allows
limited public which are part of a club or a group.
2. Major Events- Major events are which are organised by the event companies as the
nature of this even is nationwide and it has the capacity to attract more public. In this
events many companies also sponsor the financial aspects to promote their business and
increase their sales.(Watt , 2018) These events are in short period and are very popular in

nature, and these events are also considered as a very special events for the public who
visits it.
3. Hallmark events- these events are done internationally to promote the culture and boost
the tourism industry in the country. This events also help to increase the growth rate of
the economy and it includes the cultural festivals and social gathering to portray the
culture of the region to the tourist.
Roles
1. Culture- it the population develop them and understand the feelings. It also helps the
people to improve the mental ability to understand things better and with more accuracy.
It also develops the personality of the individual and help them to support the groups.
They also help the people to increase the communication and coordination skills.
2. Sports Events- this events help the population understand the importance of sports and
also develops the interests in some particular sports as they learn much about the rules
and regulations of the sport which also attract them to plat the sport. This help the people
to be active and be fit. (Frederick , Burch and Blaszka, 2015)
3. Music Events- these events are helpful in keeping the people relaxed from being stressed
and also provide a stable mental health, music events can also encourage many people to
start their career in this field and pick it as a hobby to make them feel better and also keep
them healthy.
4. Business Events- these types of events are only for people who are doing the business.
This help the business person to understand the market trends which the other business
are carrying and also learn many new business strategies which they can use in their own
business to grow them faster and better.
Structure
1. Venues- it is very important for the event planners to understand and analyse a better
venue for the event as it will help Suppliers in attracting the people better and every
location have their own legal issues and policies so the event managers have evaluated
that as well. (Poynter, Viehoff and Eds., 2015) The venue should be ideal to make all the
arrangements for the events in the low cost and it should also be cost-efficient.
2. Suppliers- they are the support system of the events as they help the event to provide with
the goods and services which will help the people to perform the activities in the event

and also create the interest of the guests as the food and drinks are also the part of
suppliers. The event manager have to analyse the suppliers so that they can also decrease
the cost and also increase the profits of the event. (George and Mawby, 2015)
P 2 CONTRIBUTION AND MOTIVATION BY GLOBAL EVENTS
London Olympics helped the economy of UK to growth in positive aspect and it is very
essential to understand all the benefits of the global events which help the society to get
developed as it also increase the revenue generation. The summer Olympic in London, 2012 was
a successful event which helped in substantial growth of the community and the development o
the population. (Cohen and Watt, Eds., 2017)
Benefits of Hosting the Event
Due to the London Olympic in 2012 as it helped the city in developing the south area of
the city which was in poverty and was not developed. The event helped the city to generate much
of the revenue from the sales of the tickets, and other events, the government had also evaluated
the total revenue of 16 billion dollars just from the Olympic events. It had also provided with
employment opportunities to the local population in building the Olympics parks, and stadium
and many other operations as well. (Brown, Smith and Assaker, 2016) This also helped the city to
develop the sports sector better as they had installed the better equipment and also learned the
better skills which helped the people to make the best decision in using teaching the sport to the
small kids from the schools. That had increased the living standard of the population as there was
the increase in the income level and the market demand of products and services also increased
which helped the country as a whole.
Motivation by the event
The London Olympics had also provided the motivation to the public who had attended
the event. It also motivates the economy and also increase the effectiveness of the economy to
achieve their personal goals. The individual who attended the event had also discovered many
cultures and people which are from different country. (Moore, Stokes and Scott, 2016)The people
who are attended the Olympics had also understood the different needs, motives, and also gained
much information which helped them to analyze them a better goals' ans desires, event also gave
a message to enjoy life no matter how hard they work as every person is earning to be satisfied
and the event promotions have promised to satisfy their needs to attract them. It also helped the

population to gain the experience which is once in a lifetime, and they have understood the
importance of enjoying to their fullest and live life the best. It also improved the communication
skills of the people and made them learn the importance of management. (Rana , Martolia and
Singh, 2017)
LO 2
P 3 IMPACT OF GLOBAL EVENTS ON THE ENVIROMENT OF THE ECONOMY
Physical and environmental
The global events have also analyzed the various factors which will impact the activities
of the events. The event companies have to analyze the corporate governance to analyze the
stakeholders, shareholders, suppliers, customers which will help the company to decide the better
strategies and also increase the efficiency of the business organization. This factor is also very
important for the global event companies to support all the factors which are related to it so that
they can not only boost the growth of themselves but also grow the whole industry. The event
managers also have to ensure that all the legal aspects of the environment are met and no activity
is done illegal. Due to high amount of flop events it is very important to understand and follow
the corporate governance to increase the effectiveness and also provide with the best services to
the public. (McNabb , 2016)
Social and Cultural
This factor helps the event companies to understand the behavior and attitude and beliefs
of the population of the region and the company also try to incorporate the social beliefs to
increase the . This factor also help the vent to be more original to the culture and let the
population get connected to it, and they will also provide with much awareness which will
improves the knowledge and skills of the population of the guests. The values of the guests are
also increased and It also plays a vital role in planning the global event to attract the guests and
make the event more successful. (Tanaka and et.al., 2017)The company also have to strategic
planning to increase the tourism of the country.
Tourism
tourism industry have helped in supporting the global event much effectively and the
event planner have also increased the sale of the events. Global event managers have to analyze

the tourism ratio of the region so that they can evaluate the cost and design the plan and strategy
according to the region as they will opt the region where there are more tourism as it will help
the event by giving it a support and also increasing the effectiveness of company in the country.
The event management have also found a better and effective ideas to make the events successful
by collaborating with government to promote the tourism and also increase their sales
effectively. (Matsueda and Takaya , 2015)
P 4 RESPONSIBLE STRATEGIES TO SUPPORT GLOBAL EVENTS
Balanced Scorecard
This strategy will help the event to increase the impact and effectiveness in the
population and also increase the business by implementing this strategy in global event
management. This strategy enables the event planners to understand the performance of the
activities to be done in the event and make the record of that performance which helps them to
finds the problems in the performance and evaluate the possible best alternatives to solve the
problems.(Mora and et.al., 2017) The score care strategy helps the managers of the global event to
make faster decision-making and also help them to analyse the cause of the problems in making
an effective strategy. It also helps the managers to innovate the solutions by finding the effective
solutions and making it more effective. Global events are done on very large platform and the
managers have to analyse the behaviour o the population, and other team members while making
the strategy as any wrong strategy can create huge amount of loss which can also cause
economic downfall.
Corporate Social Responsibility
To establish a successful global event the event planner have to analyse all the
environmental factors and also establish their responsibilities to achieve a better event. Corporate
social responsibility is also very essential aspect in the Global event industry, due to it its large
size and huge platform it also impacts the environment in some ways. The event planner have to
make the strategies in such a way which can also increase the awareness of protecting the
environment from getting harmed by the public or any other medium, the event also can support
the society with providing them basic needs to uplift the society, and they can also make the
financial strategy so that they can also donate some percent to the charities. The event managers
can also tie up with the NGOs and help the public to raise the awareness about the protection of
the environment. (Song, 2016)

LO 3
P 5 PEST ANALYSIS OF GLOBAL EVENTS
The importance to understand the external factors of the environment is because it will
provide a better understanding about the nature and all the other factors to design the strategy to
make the Olympics successful. The event managers have to analyse all the actors which lie under
the external environment with its negative and positive aspects of it.
Political Factors
1. Positive- the event planner have analysed that the London is very string economy and
have better political structure which will help the event to increase the reach of the vent
to every corner of UK and increase the capacity of the event. They also analysed that if
the country wins the game it will be increase the effectiveness of the government in the
eye of the world and increase the strength of the economy as well.
2. Negative- as in 2001 UK had suffered from Terrorist attacks there were many chances
that it might happen again as the event will have too much of gathering at one time. The
event planner had also taken the security aspect in consideration with the help of
government to ensure the safety of the public in the event.
Economic factors
1. Positive- this event helped the economy to grow rapidly with the employement
opportunities to the public which will also help them to increase their standard of living.
Due to Olympics in the city it also attracted many investors to invest in the event and
other sectors which helped them to increase the effective growth o the country.
2. Negative- the managers have also analyses that due the terrorist attacks the country had
faced a serious economic downfall and that also cut off the economy from the foreign
direct investment as they have not interested to invest in the country where there is a
threat of life and loss. The tourism industry was also affected due to the attacts and
suffered major losses in the industry.
Social Factors
1. Positive- it helped the citizens of the country to involve with the different knowledge and
culture of different countries and it also helped the country to tie better knots with other

countries. The population of the country have also learned many new skills and
techniques due to exposure of people from the different country.
2. Negative- Olympics in London had also seen a very negative aspect as it has seen that it
facilitates more of the skilled labour from across the world which discouraged the
employment opportunities of the country. The people who have cultural beliefs have also
not given chance to prove their identity in the event as it was a event of all culture which
demotivate the public of London.
Technological Factors
1. Positive- Olympics provided a knowledge to adopt the technological advancements in
many activities. As the event had used all the advanced technology to increase the
efficiency of the event.
2. Negative- it also had a very negative aspect of technology adoption in the event due to
the huge size of the event If any technological machine or gadgets stop working it would
have a loss of lot of money and it would also make the vent ineffective.
LO 4
P 6 SWOT ANALYSIS OF GLOBAL EVENTS
Global events is an international event and also need to evaluate the internal environment
with the analysis of all the weaknesses and strengths which can be effectively used by the event
companies to increase the profits and make the event more successful across the world. This also
helped the international Olympic committee to analyze all the factors which helped them to
organize a better Olympics by comparing the problems of the previous Olympics. The event
manager had also analyzed different strategies to target, segment and position of the effective
method and management theories so that they can increase the effectiveness of the event. Due to
its popularity in the world the event has to be flawless and understand all the factors prior to
make all the employees understand their roles and responsibilities in the event so that there is no
misunderstanding and does not create malfunctions during the event.
Strengths
Olympics London have used a very effective strategy and using is game as medium have
also promoted many operations and earned a lot of profits from it. The event have also increased
the quality of products and services in the vent for the guest who came to watch the game, is

have a very strong media coverage network which helped them to capture the details of the event
and broadcast that all over the world.
Weaknesses
The Olympics London does not reach to the mark of expected return against the
investments made by the investors. The vent also does not focus on the external aspect of the
event and only focused on the internal functioning of the event. The event managers were not
trained and skills to introduce the technology to the micro managers or the coordinators and that
had also caused a lack of efficiency in the event.
Opportunities
In London Olympics the event planners also analyzed that it was very much easy to
increase the marketing by the use o digital marketing and which reduced the cost of the
marketing all at once. The artificial intelligence were also analyzed which can increase the
efficiency to understand the behavior of the customers and also help the event managers to know
what exactly they want. They also analyzed the market was adopting to the good quality
products and the event can be used to do their marketing and the company have to sponsor the
event to market their products in the event.
Threats
After the global recession the market was not In the position to expend too much in the
event and that would make the event fail. The event planner also have to analyze that the there is
no political stability in the country which would make the event unstable and have to suffer a lot
of losses.
CONCLUSION
This report had a detailed study about the global events and factors which could affect in
the effective success of the event, the report also showed some different types of events which
help the economy to grow and increase the efficiency of the population as a whole. Olympics of
London was also analyzed in the report with internal and external factors were analyzed and
evaluate the importance of all the factors which can make London Olympics successful. As
there were some information about the responsibilities which helped the global events to be
successful and which also helped the society to flourish and increase the standard of living as

global events helped in proving many employment opportunities to the population where the
event is happening.

REFERENCES
Books and Journals
Song G., 2016. Shifting Global Citizenship Education: Broadening Citizenship Education through Global
Events in China.
Mora C. and et.al., 2017. Global risk of deadly heat. Nature Climate Change. 7(7). p.501.
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temperature events. Journal of Climate. 28(10). pp.4141-4151.
Tanaka, T and et.al., 2017. Global simulation study for the time sequence of events leading to the
substorm onset. Journal of Geophysical Research: Space Physics. 122(6). pp.6210-6239.
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and the Future of the Global Market. Springer.
Rana R.K., Martolia R. and Singh V., 2017. Trends in global potato processing industry-Evidence from
patents’ analysis with special reference to Chinese experience. Potato J. 44(1).
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involvement, place attachment, event satisfaction and spectator intentions at the London
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on Twitter during the 2012 London Olympics. Communication & Sport. 3(3). pp.312-333.
Watt P., 2018. Gendering the right to housing in the city: Homeless female lone parents in post-Olympics,
austerity East London. Cities. 76. pp.43-51.
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Ferdinand N., Shaw S.J. and Forsberg E., 2017. Understanding international events. Event management
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