Diversity and Impact of Global Events Industry: A Case Study of Commonwealth Event 2018

This report evaluates the diversity, structure, and types of global events industry, along with the factors influencing its development. It also discusses the value, impacts, and legacy of Commonwealth Event 2018 and the management strategies used to support responsible event development.

Global Events

Table of Content.
Table of Content............................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
TASK-1............................................................................................................................................1
Evaluation of the diversity of global events industry, its structure and organisation along
with its types :-...........................................................................................................................1
Factors that influenced that developed of event industry on both local and global level:..3
Evaluation of the key factors that have influenced the development, structure and role of
the events:...................................................................................................................................4
Critical evaluation techniques and factors that influenced the industry and the role they
play in society.............................................................................................................................4
TASK-2............................................................................................................................................5
Evaluation that shows the value, impacts and legacy of a range of global events together
with the environment in which they operate:..........................................................................5
Discussing the management strategies used to support responsible event development....6
Critical evaluation of specific management strategies across range of global events:........7
Critical evaluation of the impact of global events on various levels of environment and
evaluation of responsible event improvement strategies:......................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Global events can be defined as such events which involves participations, audiences, and
as well as broadcasting at global level, these events are held only for a particular duration of
time. These events require noteworthy open venture and have an affect on the people living a
country and built environment (Trendafilova and et. al., 2021). The definition covers as
numerous worldwide occasions as conceivable, noticing that Disciples will decide the
appropriateness of the proposal, in entirety or in portion, to a specific occasion. Whereas
characteristic candidates are Olympic Games, World Expos etc., the proposal is also connected
to a broader run of occasions like summits, reoccurring occasions. This report will Cover
common Wealth event, 2018 held in Gold Coast. Commonwealth of countries, essentially
alluded to as the Commonwealth. It is a political affiliation of fifty six associated states. The
chief institutions of the associations are the Commonwealth Secretariat, it centers up on
intergovernmental viewpoints and Commonwealth foundation, that puts its focus on non-
governmental relations among the member states. Furthermore, this report will also include a
brief discussion on the diversity of the Global Event industry along with it's structure and types
with in the society (An and .et. al., 2021). It also explains various factors influencing local and as
well as Global events. Moreover, it will include an analysis displaying impacts of these events to
the environment of the particular region where it is being held. Also, a discussion on specific
management strategies to develop this event.
MAIN BODY
TASK-1
Evaluation of the diversity of global events industry, its structure and organisation along
with its types :-
In today's competitive market, a variety of global events are being regarded as the fastest-
growing industry (RodIsuster and Chandler, 2021) . These global events include a wide variety
of activities that are carried out for both the domestic and international markets. The following is
a discussion of various events and their structure:
Hall mark event: these kinds of events can take place on a one-time basis or on a regular basis.
The primary purpose of these Hallmark events is to create various opportunities for the host
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nation to maintain its market prominence. It contributes in the development of international fairs,
expositions, sporting events, and cultural events (Becerril, 2018) . The tourism industry is
positively effected due to the spread of awareness as well as profitability, and many other factors
as a result of these events. These events essentially generate social, economic, and cultural
benefits for the region and receive extensive national and international media coverage. Groovin'
the Moo and the Australia vs. England Netball Test Match are two of the most well-known
examples of Hall Mark events.
 Structure: the events' structure is very helpful for planning and carrying out the plans.
Various types of event organizations are very helpful for the project's success criteria
because events are basically staged and hosted by them(Black 2018). The majority of of
this type of events are created by event management companies, as they employ skilled
and experienced individuals to execute on their clients' behalf.
 How the event is put together: in order to draw a large audience, these events are
planned at the international level (Trendafilova and et al 2021). Cattleyard Promotions,
for instance, organized the Groovin' the Moo event.
 Venue of these events in society: Hallmark events not only help the community grow,
but they also help the community grow economically. These events are very helpful for
both managing the process and figuring out who you are as a global culture on different
platforms.
Mega-events: generally these events are such events which are arranged at a very tremendous
level and draw a large number of people from all over the world. These nation-wide mega-events
contribute to their expansion and development. The country experiences systematic growth as a
result of these events (Cohenand Watt, 2017). A special authority is in charge of organizing these
huge events, which include investors, sponsors, nations, customers, and many more. The various
nations compete to organize these occasions. Examples of mega-events include the Olympic
Games and the Common Wealth Games.
 It's structure: these events are mostly held on an international scale and are completely
connected to the event industry supplier. A wide range of suppliers have emerged as a
result of the establishment of a substantial and extremely complex industry as a result of
these events. This is considered as an strong and an essential part of industry.
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 How the event is put together: Megaevents are generally organized by the event
industry and are organized through competitive bidding among nations. For instance, the
Common Wealth Games, which was organized by Gold Coast in 2018.
 Event's location in society: The mega events created by the event industry contribute to
society's growth and development. Additionally, these events contribute to the nation's
diversification by bringing diverse cultures together on a single platform.
Factors that influenced that developed of event industry on both local and global level:
Countries have organized a variety of events in an orderly manner, which contributes to
their overall growth and development. The various factors that are in front of these global and
local events have a significant impact (de Nooij and vanden Berg, 2018). The social, economic,
technological, environmental, and employment growth of both the host nation and the other
country are also affected by these factors. The following are some of the influences on the
growth of the event industry:
 Demand in the market: this is being regarded as one of the most significant aspects that
has a direct local and global impact on the event industry. The nation that is hosting mega
events or major events has seen a significant increase in market demand. This aids in the
development of solid knowledge and directly affects both the specific audience and the
local population. In addition, these occurrences have an effect on a global scale. Demand
has been raised significantly throughout the nation if the events are properly organized.
 Factors in the economy: additionally, this factor has a direct impact on the various
global event industries. Travel costs, international level teams, and a larger audience are
just a few of the many factors that have a significant impact on both local and global
events (Fabian, 2018) . On the other hand, economic factors also have an impact on the
international market, as participation from various nations increases in order to reach a
wider audience. Not only has the decision made by the event organizer been affected, but
it has also had a significant impact on society
 Factors cultural: This is also regarded as the most significant aspect, which has a
significant local and global impact on the event industry. The organizers of mega events
manage the effects of growth on audiences and various cultural factors in a very efficient
manner. Events related to culture are used to cultivate an effective nation's audience and
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culture, both of which have a direct impact on the international stage. Work culture has
had a significant impact all over the world.
 Impact of social media: the use of social media platforms has increased in recent years,
and these platforms play a crucial role in establishing a successful market(Ferrone, 2020)
. The use of social media platforms aids the event organization in global information
dissemination and growth, as well as in attracting a larger audience. The global impact of
these media platforms has been significant.
Evaluation of the key factors that have influenced the development, structure and role of
the events:
On a global scale, a variety of events have been put on that not only promote culture but
also support economic expansion and development. In addition, these events have a significant
impact not only on the large number of attendees but also on the tourism sector. As can be seen
from the above discussion, there are many different kinds of events, each with its own unique
structure and location within the country(Gaudette Roult and Lefebvre, 2018). The structure of
management companies is used in Hall Mark events to help promote the event on a variety of
platforms, and the structure of the supplier industry is used in mega events like the Common
Wealth Games Gold Coast. This structure is very important because it makes it easier for the
event organization to work efficiently and manage global growth and development. In addition,
in order to generate interest in the community in which the event is held, the events that are
developed in society are basically used to major the events that are held there. In most cases,
these events have created a concern with a broad impact.
Critical evaluation techniques and factors that influenced the industry and the role they
play in society
In order to attract a large number of customers based on a variety of factors, a variety of
global events can be organized. Additionally, scenarios of this kind have a significant global
impact on the economy's future growth and development (Gordeeva, Sheldon and Sychev, 2020).
In addition, there are a variety of events through which important social, technical, economic,
and other factors can be influenced using a variety of techniques. Each of these measures is very
important to the successful development of the social group as well as the promotion of the
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destinations and culture. Additionally, the company must take into account the aforementioned
aspects in order to maintain its effective market presence and guarantee its growth rate.
TASK-2
Evaluation that shows the value, impacts and legacy of a range of global events together
with the environment in which they operate:
The significance and impact of these international events are taken into account at the
global level (Graziano and Vicentini, 2018). This includes a variety of factors that aid in the
proper organization of these international events. In order to create their own value, impact, and
legacy, these events operate in diverse environments. The following is a discussion of these
international organizations' impact, values, and legacy:
 Mega-events like: in essence, mega events are organized on a very large scale. These
events control the expansion of the organizations in order to encourage the nation's
effective growth and development. Global events occur all over the world, and these
global events are connected to one another in order to function and manage their impact
on various industries, media, and sizes (Gursoy, Milito and Nunkoo, 2018). The 2018
Common Wealth Games, which were held in Gold Coast, are regarded as a successful
megaevent. The way this event is put together makes it easy for a large number of people
to attend.
 Value: among the values of organizing the megaevent are increasing profit, investing
over a long period of time, inspiring society, and many more. Humanity, equality, and
destiny are among the values associated with the common wealth game in Gold Coast
(Hahm, Tasci and Terry, 2019). All athletes, citizens, and communities are included in
the organization of this massive event, which also promotes equality and non -
discrimination.
 The impact: the country's megaevents are inextricably linked to its high level of
productivity, which has both positive and negative effects (Harrison and Hoyler, 2018) .
The Common Wealth Games' positive impact on Gold Coast its is estimated that there
was a economical rise $2.5 billion to the Queensland economy, as well as a rise of $1.8
billion Gold Coast economy.
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 The legacy: The legacy of these events is completely connected to working efficiently
and managing the event's position in order to provide the nation with systematic growth
(Hernández, Mogollón-Duarte and Folgado-Fernández, 2018). This makes it easier to
evaluate the value of various international megaevents and manage their perspective.
Discussing the management strategies used to support responsible event development.
Effective planning that assists the company in defining and establishing its goals is one
definition of management strategies. These strategies not only assist the organization in boosting
productivity within the organization but also in enhancing performance (Kimand et al, 2019) .
The company is able to be extremely creative for an extended period of time thanks to these
management strategies, which also assist them in establishing an efficient marketing budget. In
addition, the company can use these strategies to plan the nature of its products and services to
attract more and more customers. As a result, the operations of the organization expand and
develop. It has been observed that global events are organized on a very large scale and attract a
large audience from all over the world (Roche, 2018). The global event industry must develop an
efficient structure for establishing management strategies if it is to ensure the success of global
events. The following is a list of various strategies that aids in organizational development:
 Analysing economic impact :- In the event industry, this strategy is very important for
effective management. The success and expansion of global events that it determines its
economic effects can be achieved with the assistance of this strategy(Lake, 2018) The
most advantageous method for this sector is being regarded as this strategy. This makes it
much easier to comprehend the necessary adjustments that have a financial impact on the
event as a whole, such as the urgent requirement for funds to run the event efficiently.
Additionally, this strategy enables the event organizer to obtain crucial information about
the event, such as the return on invested capital and its application.
 Government's role: It is critical for the event industry to obtain permission from the
country's higher or legal authorities in order to successfully organize an event(Pavoni,
2017). The social, cultural, sporting, and other global events are significantly influenced
by the government's role. The country's government makes every effort to ensure that the
event goes off without a hitch and that the organizers don't lose any money.
Consequently, the assistance of the government is absolutely necessary.
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 Perception of the community: The event industry is able to conduct effective surveys of
society and evaluate all understanding related to the global event thanks to the various
strategies they employ (Quachand et al, 2021). In addition, this enables the event
organizer to comprehend the entire community's support, which contributes to the event's
success. Take, for instance, the Common Wealth Games in Gold Coast, which conducted
a survey to gather information about how people feel about the event.
Critical evaluation of specific management strategies across range of global events:
The company relies heavily on the management strategies because they assist them in
effectively structuring their goals and objectives (Quinn and et al, 2021). These strategies assist
the event's host by providing assistance to them, ensuring that all associated work is carried out
effectively and efficiently. The event organizer can use a variety of strategies to boost the
success of international events. Strategies like community position assist the event industry in
acquiring information about the country where the event will take place and its success. In
addition, strategies like economic effect assist the organizer in obtaining information regarding
the role of capital and the authorities hosting the event. The organizer of the event can ensure
that the event is more successful and leads to development with the assistance of these strategies.
Critical evaluation of the impact of global events on various levels of environment and
evaluation of responsible event improvement strategies:
At the international platform, the global events are carried out on a very large scale. More
and more people from both the local and international market attend these events (Randolph,
2021). Hallmark and mega events have had a significant impact on the people's perspective
based on their culture. In addition, cultural and social factors influence the participants and the
society in which the event will take place. Global events facilitate intercultural communication
among the nation's citizens. The event's organizers used a variety of tactics to learn about the
people and how the event is run from their perspective. These tactics also help them understand
the role that funding and higher authorities in the host nation play in the event. Therefore, the
event industry must pay close attention to these aspects in order to mitigate the impact on
operations.
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CONCLUSION
The conclusion that can be drawn from the aforementioned report is that international
events benefit the nation in which they are to be held. The organizers ensure that the event has a
positive impact on society and a high level of economic success. As a result of these events, the
host nation receives an increasing amount of economic support. With appropriate examples and
knowledge of their structure, this report concluded the various types of events, such as mega
events and hallmark events, which aid in operation. The brief understanding of the relationship
between culture and the demand of market and economic elements was also summarized in this
report.
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