Global Events: Diversity, Factors, Impacts, and Management Strategies

This report explores the diversity of global events, factors influencing their development, their value and impacts, and management strategies for event development. It discusses the social, cultural, economic, and environmental impacts of global events. The report also examines the role of government in supporting the growth of the event industry.

Global Events

Table of Contents
INTRODUCTION...........................................................................................................................1
Diversity of global events industry.............................................................................................1
Presenting factors that influenced the development of events....................................................2
Evaluation of key factors that influence event industry..............................................................3
Critically evaluate key factor that have influence or shape industry..........................................3
Value, impacts and legacy of range of global events..................................................................4
Different management strategies used to support event development........................................5
Critically evaluate the specific management strategies...............................................................6
Assess the impact that global events have on different level of environment............................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Global event are those events which are staged for a limited duration by
attracting visitors at global level and require significant public investment, also have an
impact upon environment. The report is based upon case study where company is
looking to Olympic venue in 2012 and wants to understand the current market. The
report will examine the diversity of global events along with its structure, further study
explain the factors that influenced development of an event. Moreover, it evaluate the
value, impacts and legacy of different global events and then provide range of
management strategies that support events to develop in better manner.
Diversity of global events industry
The event industry is diversified in many ways and it is categorized as per size,
form and content. Such that as per event size, events are categorized within four types
such as:
 Major events: This type of events attract range of visitors (international and
national) towards it along with media coverage and benefit economy as well
(Pirker, Kultima and Gütl, 2016). Such that UK Sports events, Women's Rugby
World Cup 2021.
 Mega events: It attract significant number of attendees at global and local level,
also cause positive impact upon economy of country. Such that FIFA World Cup,
Olympic Games etc.
 Hallmark events: this held at particular place and while occurring of such event,
the identity is also linked with host destination, as a result, the event form an
important part of its image and branding (Maneenop and Kotcharin, 2020). For
example, Chelsea Flower Show in UK, Edinburg International festival in
Scotland. Local community events: This is held to attract local audience and the main
motive is to provide fun, social and entertainment values to them. This type of
event is occur due to strengthen a feeling of belonging, engendering pride within
communities. For example, Asian Mela-Waltham Forest.
Event based upon form and content are as mention below:
Event name Description Example
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Cultural events This are also be a major events which is a
universal form of events (Parc and Kim, 2020).
It also include family customs and religious
ceremonies that encourage people to learn
from culture.
Sound of Music,
Phantom of Opera
Sports events It attract range of visitors and cause positive
impact upon economy. In this, events are occur
under four categories like showcase, on-off,
calender and mega events
Olympics,
Commonwealth
Games
Business
events
This are private events that occur for specific
purpose by a particular organization (Pereira
and et.al., 2020).
Annual Meeting,
Conference, Award
ceremony
Structure of event industry
Events are run by teams under larger organization like BBC Good Food Shows
by BBC Haymarket, while business events are organized by project or event teams
within companies. Hence, these companies are professional groups who may organize
event on contract basis. Moreover, the suppliers are also work in direct like, sound
production, lightening, catering etc. Hence, the network of this industry is wide, while
different venues are set to manage the event in perfect manner. Like historical houses,
galleries, theatre etc. Thus, the structure of events are depend upon the size that helps
to organize in effective manner.
Presenting factors that influenced the development of events
The events are highly influenced by many factors that may cause negative as
well as positive impact upon event industry such that:
Demand and motivation: Event industry should present new ideas to their
customers which in turn leads to attract visitors towards it. Moreover, another lucrative
aspect is incentive travel that also motivate participants for increase level of
performance to attain organizational goals (Smith and et.al., 2020).
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Social and cultural impact: This factor have their direct impact upon
development of event. As every individual have their own cultural and that is why, these
culture clearly reflected upon events at local level. Like Euphoria in Iraqi community
result from their Asian Football Championship victory during 2007. Another example is
Commonwealth Games where participants belongs to different country show their
talent.
Global expansion and opportunities for events: Events provide strong
platform while expanding globally in the form of offering range of innovative ideas that
helps to promote their program (Kim, Byon and Baek, 2020). Therefore, there are many
opportunities which in turn leads to promote event at brand level especially at global
level.
Evaluation of key factors that influence event industry
Social and cultural factors assist to shape up the industry because there are
many cultural events occur at world level and this encourage people to take participate
within events in order to learn different cultures. Hence, this factor contribute or
influenced the development of event industry. Moreover, the trend within this sector is
keep changing and that is why, there is a need to cope up with the same in order to
meet the objectives or demand of people (Asero and Tomaselli, 2020). Apart from this,
event industry is diverse in nature and that is why, team working in this promote their
events at high level with an aim to attract range of visitors. For that they use advance
technologies in order to examine the success or failure of an event in the form of
feedback. Hence, involving themselves into new trend will help in development of event
industry.
Critically evaluate key factor that have influence or shape industry
Technologies: It is the major factor that shape as well as influence the event
industry. Such that in modern era, event companies change their strategy in order to
attract visitors. For that they use advance technologies that draw attention of many
visitors like implement Robotics that save time and money (Abedi and et.al., 2020).
However on critically side, it is evaluated that by not complying with the same, events
are not successfully launch in society.
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Demand and motivation: The positive side of this factor is such that it increase
interest of visitors and provide good ROI to industry which in turn leads to attain
objectives. However on the critically note it is realized that due to fluctuation in the
economy of country, event industry has to compromise with their offering and it may
lead to affect financial performance.
Value, impacts and legacy of range of global events
Every event touches key aspects of lives such that social – cultural, economic,
environmental as well as political. Such that, once the event is organized which involve
government and business and thus, it cause economic benefits. On the other side, if
the event got fails then it turn all positive benefits into negative publicity along with
costly lawsuits. That is why, the values of an event is reflected from starting to ending
point.
Positive and negative impact Social and cultural: The positive impact of an event is to share experience and
make a community pride. Thus, through an event, groups increase community
participation and expansion of cultural perspective as well (Charlebois, 2020).
On the other hand, once the event fails it bring bad image in market and as a
result, amenity is loss. Physical and environmental: Events are conducted by focusing upon
environment such that improved transportation are used and they comply with
best model of practice that leads to improve the results. However, on the
critically side there are negative side such that it leads to pollution and noise
disturbance that cause negative impact upon environment. Political: By conducting major or mega event, the country gain international
prestige and improved profile within world. As a result, improve image of country
provide a chance of investment along with social cohesion (An and et.al., 2020).
But there are negative impact as well such that risk of event failure may lead to
affect the image and due to lack of accountability, it creates negative impact
upon event.
 Economic: Organizing any event will lead to promotion destination which in turn
increase number of visitors and this cause positive impact upon revenue.
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Further, it also improve business opportunities and job creation that affect
economy in positive manner. While another side, due to inflation price increases
and this affect spending of tourist which cause loss of an event. Also, due to
financial mismanagement also lead to cause negative impact.
Different management strategies used to support event development
There are different strategies that helps to develop an event in better manner, so
some of them are as mention below:
Economic impact studies: the funding of an event is depend upon type of an event,
also government obtain a complete picture of cost of an event and ROI. Therefore, to
determine whether the event is successful or not, economic impact studies are
undertake which assist to identify in staging of an event along with its impact upon the
economy (Giglio, Luiz and Ferreira, 2020). With the help of this strategies, both cash
inflow and outflows are measure to establish the net outcome that is based on visitor
and organizer spending. So, with the help of this strategy, the total amount of additional
money injected into define area is determine while staging the event.
Community perception of event: Another management strategy that helps for annual
events and even with the help of survey of the perception of host community,
community concern are address during planning of next event. Hence, with the help of
effective surveys, event manager make changes in them over time along with
measuring performance.
The role of government in growth of event industry is also plays am important
part such that after 1980, due to promotion in many event most of the visitors are
attracted and this in turn leads to increase visitor expenditure as well as job creation
(Pino and et.al., 2019). Moreover, government also provide funding to many event and
as a result, in return they get benefits. Local and national government are also develop
many strategies and build strong portfolios of many events and this in turn leads to
develop an event.
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Critically evaluate the specific management strategies
The economic impact studies are drive from three sources such that expenditure
by visitors from outside the region, capital expenditure on facilities and expenses
incurred by an event organizers. However on the critically note, it is also analyzed that
this strategy is quite complex to use and specialist researcher are required who belongs
to economics background (Cordes and et.al., 2016). Apart from this, from secondary
research it is analyzed that some state that some of the expenditure are not included
and sometimes this may affect the results.
Further, Community perception of event is another management strategy that
helps to track changes over time by collecting views from others. Thus, it will help to
examine the overall weakness of an event. On the other side, it is critically evaluated
that sometimes by providing views from a community, no appropriate results is
generated and as a result, event industry do not determine their loopholes ( Reddy and
et.al., 2020).
Assess the impact that global events have on different level of environment
Event do cause direct impact upon environment such that during transportation,
the smoke cause pollution. Apart from this, waste material going into landfill, without
any recycling facilities also cause negative impact upon the environment. Environment
degradation is another impact which takes place due to outdoor even in sensitive
environment (Event impact management, 2020). Thus to minimize the same, event
industry should priorities the reduction of waste output and mostly use renewable
energy inputs as well. Prefer to use recyclable catering products, along with
promotional banners should be reused so that it do not cause negative impact.
Moreover, all the recyclable facilities should be review regularly and managed so that
global event do not harm environment. Apart from this, the trend of market is keep
changing such that development of a technology which must be comply withing industry
in order to sustain the brand image and meet the need of customers as well.
CONCLUSION
By summing up above report it has been concluded that there are diverse range
of event based upon size and form or content. Further social and cultural factors, global
expansion are some of the factors that influences the development of event at global
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and national level. Study also concluded that there are positive and negative impact
upon range of global event such that physical environment, economical and socio-
cultural. Lastly study also concluded some management strategies which will support
responsible event development such that economic impact studies and community
perception of an events.
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REFERENCES
Books and Journals
Abedi, S. and et.al., 2020. Sustainable Physical Legacy Development via Large-Scale
International Sport Events.
An, J. and et.al., 2020. The legacy of wars around the world: Evidence from military
directors. Journal of International Financial Markets, Institutions and Money. 64.
p.101172.
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.
Charlebois, C., 2020. The Influence of Demographics on Perceived Sport Event
Impacts: 2017 Canadian Women’s Curling Championship.
Cordes, E.E. and et.al., 2016. Environmental impacts of the deep-water oil and gas
industry: a review to guide management strategies. Frontiers in Environmental
Science. 4. p.58.
Giglio, V. J., Luiz, O. J. and Ferreira, C. E., 2020. Ecological impacts and management
strategies for recreational diving: A review. Journal of Environmental
Management. 256. p.109949.
Kim, K., Byon, K. K. and Baek, W., 2020. Customer-to-customer value co-creation and
co-destruction in sporting events. The Service Industries Journal.40(9-10).
pp.633-655.
Maneenop, S. and Kotcharin, S., 2020. The impacts of COVID-19 on the global airline
industry: An event study approach. Journal of Air Transport Management.89.
p.101920.
Parc, J. and Kim, S. D., 2020. The Digital Transformation of the Korean Music Industry
and the Global Emergence of K-Pop. Sustainability.12(18). p.7790.
Pereira, E. and et.al., 2020. Finding causal paths between safety management system
factors and accident precursors. Journal of Management in Engineering.36(2).
p.04019049.
Pino, G. and et.al., 2019. A methodological framework to assess social media
strategies of event and destination management organizations. Journal of
Hospitality Marketing & Management.28(2). pp.189-216.
Pirker, J., Kultima, A. and Gütl, C., 2016, March. The value of game prototyping
projects for students and industry. In Proceedings of the International
Conference on Game Jams, Hackathons, and Game Creation Events (pp. 54-
57).
Reddy, V. and et.al., 2020. Management Strategies for Borderline and Narcissistic
Personality Disorders in Dermatology Practice: A Review. Journal of
Dermatological Treatment, (just-accepted), pp.1-15.
Smith, L. and et.al., 2020. Factors shaping the lived experience of resettlement for
former refugees in regional Australia. International Journal of Environmental
Research and Public Health.17(2). p.501.
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Event impact management. 2020. [Online]. Available through:
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management.aspx>.
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