Diversity and Impact of Global Events

This report explores the diversity of the global events industry and the factors that have influenced its development at a global level. It also discusses the impacts, legacy, and values of global events on the economy, culture, and environment. Additionally, it covers the management strategies used for event development. Find study material and solved assignments on Desklib.

Global Events

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Diversity of the global events industry.............................................................................1
P2 Factors that prejudiced development of events business at global level...........................3
TASK 2............................................................................................................................................4
P3 Impacts, legacy along with the values of global events....................................................4
P4 Management strategies utilised to event development......................................................5
TASK 3 & 4.....................................................................................................................................5
COVERED IN PPT................................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Over a couple of years, it has been observed that global event industry is carrying ample
number of uncertainties which impacts in both negative and positive sense on event
organisations. There are a range of large scale events that are majorly takes place in today's
environment like conferences, festivals, concerts, conventions and formal parties and so on.
Presently, there are ample number of organisations that majorly conducts a range of corporate,
social and other type of events that are carrying various aims and some of these are to attract
customers, promote and develop relationship among individuals, for investors and so on (Asero
and Tomaselli, 2020).
Under this report, focus will be on London's ExCeL Exhibition Centre which conducts a
range of events and these are both at national and global level. In the year of 2012, Olympic
event was conducted which has helped them in increasing improving success rate at international
level and this also impacted positively on their goodwill as well. Away with this, report will also
be considering diversification of the global event industry, value, impacts and legacy of a range
of global events on environment. Also, SWOT analysis is also going to be conducted in a
specific event.
TASK 1
P1 Diversity of the global events industry
Diversity within global event market is considering a range of elements like language,
culture, economies and so on. In context with, London ExCeL Exhibition Centre this
organisation is offering a range of opportunities to their clients so that they could effectively
achieve an aim of improving profitability to catching attention of investors, through promoting
social elements and so on (Berg, 2018). Some of crucial global events like art, music, sports
related events are also considered to be good examples of events that are majorly be done by
London ExCeL Exhibition Centre. In context with diversity of global events they are divided
considering some of the elements and these are: form, content and sizes and these are presented
underneath:
According to size
Mega events: This type of event specifically done for a particular objective and for a
short period of time. World Cup of football is a good example of mega event and including this,
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it can be said that these events are done for profit which can be earned for a longer period of
time. Most of the mega events are performed at international level and investment stays really
very high.
Local or community events: All these type of events are conducted for gathering the
individuals, groups or public for a specific welfare, social or any other purpose. This type of
event majorly stays open for individuals where no discrimination takes place and also the primal
purpose of these events are to improve community stays within the society, economic growth,
and also motivate individuals towards particular aim (Pratono, 2019).
According to the form or content
Sports events: A range of sports activities like Olympic events, Cricket or Football World
Cup and so on are some of the crucial examples of sports events. These are done to show
physical strength, skills and so on in order to promote motivation among individuals. On the
other hand, to run this sort of event, majorly government develops regulations and rules in order
to deliver responsibilities to event organisations to conduct the sports activities in ethical manner.
Business events: This sort of events are specifically being organised or conducted with
more than 15 individuals where their interest stays common in nature and these are also
performed considering a range of business activities. Primal purpose of conducting or organising
these sort of events are to market the products, and also to give reward or bonuses to staff
members of the company. All this sort of events takes place among seminars, conventions,
conferences, business meetings and so on.
Structure and components of event industry
Event management companies: These are said to be the event management organisations
which conducts a range of events according to the current trends and needs or requirement of
their clients. Away with this, some of the crucial activities which are majorly organised by event
managers in both large and small sizes. Some of the crucial examples are: business parties, social
events, formal meetings, weddings and so on.
Venues: A location where an event takes place with a primal aim to attain growth or
success in rightful ways. On the other hand, it is said to be a crucial role for an event manager of
a company to organise the event after looking at the requirements of clients.
Event industry: This industry at international level is said to be one of the complex one
which contributes highly towards economic growth of the world. Some of the events like
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Olympics and more are continuously offering employment among different countries of the
world and so on (Srinivasa and et. al., 2017).
Role of event in the society
 Within events industry there are a range of stages which put positive effect in the
improvement of economy. From the above conversation it is summed up that super
functions are best since they help in accomplishing benefits and put positive effect on the
general public as far as economy. For example, celebration functions assumes significant
part in building up the general public by associating and creating correspondence among
individuals and networks which is useful in the progression of a function.
 Events build up the social union and existing assets inside the general public. A few
Events are composed so as to bring in cash which are principally business, supported
functions and so forth which is useful in contributing towards economy. It is the
obligation of an event director to arrange noteworthy functions or extraordinary
experience for their participants so as to accomplish targets.
From these events, individuals can comprehend and build up their insight about different
religions, culture and so on In this way, that they offer their appropriate help in connecting with
these sort of functions which brings about the improvement of economy and achievement of
organization in the general public.
P2 Factors that prejudiced development of events business at global level
There are a range of factors that are present in the market, which influence development
of a particular event. All these ones are said to be some of the crucial factors that impacted on
development of events at global level and these are presented underneath:
Event history and socio-cultural factors: It is considered to be a crucial factor which
mainly consist of demographics, requirements, cultures and so on. It has been found that, these
elements impacts in both positive and negative sense while developing a particular event, which
may improve profit margins of event organisation and also on economic conditions of a country
as well. London ExCeL Exhibition Centre is also organising a range of events which carries
various culture, public issues along with the beliefs as well of individuals where they may help
the individuals to enhance the knowledge of various socio-culture and also to improve
engagement as well (Bhattacharyya, 2019).
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Demand and motivation for different type of events: Motivation and demand are said to
be the two crucial elements which specifically impacts on events in different ways. Through
conducting events, an organisation may effectively get information in relation with the industry,
needs and requirements clients and so on. This information may effectively help London ExCeL
Exhibition Centre to grab good market share. Considering the demand, it can be said that London
ExCeL Exhibition Centre may grab the attention of individuals in rightful ways.
Therefore, it can easily be said that above mentioned factors do affects development of
events in different ways. It is must for London ExCeL Exhibition Centre to consider them
because then only events can be conducted in rightful ways. Also, it is must for this event to
make alterations as per the necessities considering different factors.
TASK 2
P3 Impacts, legacy along with the values of global events
Over the years, different range of global events carries both positive and negative effects
on environment. The basic reason behind this was that organisations utilises a range of resources
in order to organise a particular event. If it is talked about London ExCeL Exhibition Eentre,
then this organisation is particularly organising global and local events and some of the crucial
impacts that can be seen on environment are given underneath:
Social and cultural impact: It has been found that, local, mega and other sort of events
basically impacts positively on culture, community and some of the other areas as well. They
specifically promotes awareness in relation with tradition, culture, religion and so on. This could
be understood with a good example of cultural events where they help visitors to gain knowledge
in relation with the particular society and culture (Penco and et. al., 2019).
Physical and environmental impact: This is also a crucial area where impact of different
events can be seen where they add depletion of natural resources and also soil pollution, water,
air pollutions as well.
Tourism and economic impact: Olympics is considered to be a good example of
analysing the impact of events where whenever Olympic takes place within a country,
employment rate increases. This positive impact also boosts economic conditions of a country.
Contribution of event to economy
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National level: The explanation that came in front is that worldwide composed functions,
crowd originate from various nation, state or distinctive religion which prompts increment the
unfamiliar cash. Augmentation of unfamiliar cash is helpful for each country for its economic
conditions (Raschi and et. al., 2017).
Regional level: Events helps in increasing the collection of domestic tax which helps in
developing the economy.
Local level: In expansion to this, functions assume a basic part in building up the
financial development at national level. This happens on the grounds that by directing functions,
openings for work are expanded and with the successful and proficient labour the accessible
assets are used in a powerful and effective way.
Event legacy
Long term impact on stakeholders: It alludes to execution of an international event
which incorporates different sorts speculators, coordinators, guests and so forth which influence
as per the accomplishment of business (Li, Harb and Galad, 2017). Like on the off chance that
function get achievement and draw in more individuals towards the different associations, at that
point partners are likewise ready to gain benefit on their contributed capital. It is likewise
advantageous for the guests or individuals as they get engaged on the progression of a function.
P4 Management strategies utilised to event development
Techniques for measuring impact:
Balance scorecard: This is considered to be one of the crucial technique, which may help
in measuring the strategic performance level of a particular event. Also, this may aid in offering
event organisation with a crucial strategy as this would make right decision in relation with
targeted illustrations (Gao and et. al., 2019).
Corporate environmental management model: Considering this model, an event firm
may effectively reduce the damages which majorly takes place within natural environment.
TASK 3 & 4
COVERED IN PPT
CONCLUSION
With the help of above mentioned report, it is concluded that all the range of factors
whether they belong to internal or external, impacts on event industry in positive and negative
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manner. Away with this, it is also summarised that events have also contributed at local, regional
and international level, which has raised employment and so on. Including this, there are a range
of techniques along with strategies that can be undertaken by event industry as this would help
event organisations to sustain within the market for a longer period of time.
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REFERENCES
Books and Journals
Asero, V. and Tomaselli, V., 2020. Evaluating the Impact of a Tourist Event on a Destination.
In Global Entrepreneurial Trends in the Tourism and Hospitality Industry (pp. 1-17).
IGI Global.
Pratono, A. H., 2019. Cross-cultural collaboration for inclusive global value chain: a case study
of rattan industry. International Journal of Emerging Markets.
Berg, S. H., 2018. Local buzz, global pipelines and Hallyu: The case of the film and TV industry
in South Korea. Journal of Entrepreneurship and Innovation in Emerging
Economies, 4(1), pp.33-52.
Srinivasa, D. R. and et. al., 2017. Global adverse event reports of breast implant–associated
ALCL: an international review of 40 government authority databases. Plastic and
reconstructive surgery, 139(5), pp.1029-1039.
Bhattacharyya, G. S., 2019. FEATURES SPOTLIGHTS EXCLUSIVE COLUMNS EYE ON
CHINA INSIDE INDUSTRY BIOBOARD EVENTS. Cancer, 23(02).
Penco, L. and et. al., 2019. Critical events in the tourism industry: Factors affecting the future
intention to take a cruise. International Journal of Contemporary Hospitality
Management.
Raschi, E. and et. al., 2017. Adverse events with sodium-glucose co-transporter-2 inhibitors: A
global analysis of international spontaneous reporting systems. Nutrition, Metabolism
and Cardiovascular Diseases, 27(12), pp.1098-1107.
Gao, L. and et. al., 2019. A global data set for economic losses of extreme hydrological events
during 1960‐2014. Water Resources Research, 55(6), pp.5165-5175.
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