Analyzing the Global Event Industry and its Impacts

This report analyzes the global event industry, including its structure, companies, and the role of various events within society. It explores the factors influencing the development and growth of the event industry globally. The report also assesses the values, impacts, and legacy of global events, along with different strategies used to measure their impacts. It provides insights into the positive and negative impacts of global events in relation to the macro environment. The report concludes with a SWOT analysis for successful event planning.

GLOBAL EVENTS

Table of Contents
INTRODUCTION...........................................................................................................................3
PART (A).........................................................................................................................................3
TASK 1............................................................................................................................................3
P1 Analyse the global event industry which includes structure, company, and role of various
kind of events within society.......................................................................................................3
P2 Explain factors which influence the development and growth of event industry globally....5
TASK 2............................................................................................................................................5
P3 Assess the values impacts and legacy of global events........................................................5
P4 different strategies used to measure the impacts which is responsible for development of
event............................................................................................................................................7
PART B (Covered in PPT)..............................................................................................................8
TASK 3............................................................................................................................................8
P5 Analyse the positive and negative impacts in relation to macro environment of global
events...........................................................................................................................................8
TASK 4............................................................................................................................................9
P6 Perform a SWOT analysis for a specific event to determine and analyse the criteria
necessary for successful planning of events................................................................................9
CONCLUSION .............................................................................................................................11
REFERENCE.................................................................................................................................12

INTRODUCTION
Events refers to gathering of people at one place in large scale and global event industry
means those organisation which conducts event at international levels. It is very diversified
industry that conducts various events such as formal parties, business events, socio culture
events, sports events and many other events in order to promote or attract people for their
service. In which global events are organises at international levels in order to under different
culture and behaviour of audience. The organisation in this industry varies from size of event to
resources (Gruneau and Compton, 2017). The current report is based on London ExCel
exhibition centre which is organised at international scale. For achieving success they organise a
Olympic event in 2012. This report will discuss about PESTLE and SWOT analysis in order to
analyse the internal and external forces that affects the function of events. Along with this,
discussion about types of events is also included.
PART (A)
TASK 1
P1 Analyse the global event industry which includes structure, company, and role of various kind
of events within society
For event industry, society plays vital role for the achievement of success and growth in
competitive market for this event manger need to focus on society. In context of London Excel
exhibition centre which offers certain platforms in order to increase the profitability of event
company by conducting several events such as fashion show, conferences, arts festival, music
concerts , sports events and so on. Diversity refers to variety of culture, language, economies,
beliefs, religion etc. which is maintained by an organisation in order to grab huge number of
people towards their product or service (Schwab, Berchtold and Goris, 2016). Global event
industry is diversified on the basis of size, form or content which is discussed below:
According to form / content:
Sports events : It includes all activities related to sports such as Olympics, athletics and
many others which needed a specific skill and physical strength in order to carry out all these
events some rules and regulation is made by the government which need to be followed by
organiser of events for gaining competitive advantage.

Business events: It refers to those activities which are related with product or services of
business. It is carry out with the minimum 15 peoples who posses interest in business activities.
Aim behind conducting this is to build relationship with peoples and bring them together at one
place as well as promoting about product at marketplace (Pourreza, Mosadeghrad and Parvizi-
Shad, 2020). It includes seminars, business meeting, conferences etc.
According to size:
Mega events: These kinds of events are conducted with the aim of earning profit for
longer period. These events are organises at national and international levels in order to motivate
people regards business. In order to carry out these kind of event, the organiser needs huge
amount of fund this will be collected with the help of investors. The aim of conducting these
events is to aids business unit for maintaining their position at marketplace.
Local events: These events are organised to collect community people at public area.
These are open for every one in which not discrimination will be take place on basis of gender,
age race etc. the aim of this event is to motivates community people to take part in activities
which is organised at national levels as well as to generate more revenue for the economy growth
of nation.
Structure and component of event industry:
Event management companies: It involves those firms who conducts several events and
indulged them to run smoothly these events as per the demands of consumers. In which various
kinds of events are organised by the organiser on the basis of size, or form. Social events,
business events and cultural events are the examples of management companies.
Venue: This refers to location or area where events is conducted. It is the key element of
any event as the success and growth totally depends on it. Hence it is the duty of organiser to
identify various place which attracts numerous people as well as to organise events according to
the demands of peoples for getting success in events (Grundke and Tuchscherer, 2019).
Event industry: It includes wide range of companies for this it considered as a complex
industry. All companies that comes under this industry will helps country to improve economy of
nation. Owners of these company will facilitates various function such as promotion, production,
fun activities and so many. All these function or activities will help company to engage people
towards events in order to satisfy them so that the aim of conducting events will be fulfilled.

P2 Explain factors which influence the development and growth of event industry globally.
Event industry plays vital role toward the development of economy of nation in which it
is the duty of event organiser to get success in events for gaining higher position at competitive
market (Mueller and et.al., 2018). In which there are various factors which influence growth and
development of event industry, in which some of factors are discussed below:
Event history and socio- culture factors: This factor depends on requirements, culture,
demographics, and so many other elements which may left positive or negative impact on profit
margins and revenue of firm. In order to deal with all these factor, London ExCel exhibition
centre develop awareness about public problems cultures, beliefs of audience which aids
company to gain knowledges about socio-culture element and that will leads to enhancement of
economy growth.
Unemployment: The demands of employee is UK is higher in event industry which
removes unemployment and that will leads towards enhancement of nation economy. Benefits on
events industry increaser due to fall in unemployment this will generate more revenue and
provides befits to both event industry and nation. As event industry requires more numbers of
workers to organise an event and that removes unemployment.
Social media: it puts big impact on event industry. With the help of social media
organiser is able to update about event on continuously basis this will provide awareness to
interested audience and people. In which one of the most effective mode of promotion is
Facebook as well as Instagram these two mode will help people to get know about events place,
price and type. Along with this it also aids event organiser too in term of generating revenue
which contributes nation in increasing the scale of economy.
TASK 2
P3 Assess the values impacts and legacy of global events.
The aim of organising an event is to increase the profitability and operation efficiency,
image, celebrity and community cause among peoples. It involves all concepts of lives either it is
related with social, culture, political or economical. It is not take place in vacuum, the positive
benefits to conduct an event is to gain popularity and success at marketplace of event industry
(Hu and et.al., 2019). For this the organiser follow some research strategies and so well

documented to enhance benefits. In which all events acquire some positive and negative aspects
of all factors and these are obstinate below:
Socio and culture impact: In context of given event they put positive impact on both
social and culture events as event organiser are able to develop network and good relation with
end users of community. The event related with social and culture is creates awareness about
tradition ,behaviour and lifestyles of community peoples. For instance, a culture event is
conducted at London, the aim of conducting to this events is to understand the trends of people
along with different culture (Lundgren and Evans, 2017). Apart from this it put negative impact
also such as community people looses their own culture and become more interested towards
other cultures which bring conflicts in between community peoples.
Political factor: Event industry get influence with political factor also in both positive
and negative aspects such as it improve the reputation at global level apart from this it effects in
negative way too by enhancing the risk of failure due to shortage of fund and policies of taxation
government.
Tourism and economic factors: Event industry puts a good impact on tourism as it aids
in generating more revenue which enhances the economy scale of nation. As well as it also in
developing manpower too with the help of creation of job opportunity that remove
unemployment. On the other hand it leaves negative impact also by decreasing the cost f
opportunity which directly affects the growth of economy.
Event contribution towards economy:
National Level: As the given event , London ExCel exhibition centre is a mega event
which is organises at internation level which provide a wide range of benefits towards economy
of nation. It is just because of involvement of different country, region & city peoples as an
audience (Wu and et.al., 2020). This will leads to increase in foreign currency which is directly
proportional to scale up of economy growth.
Local Level: At local level, events plays crucial role towards economy of region as it
decreases the level of unemployment by offering job opportunity to community people.
Region Level: The Events conducted at state level helps region in increasing domestic
taxation that provided opportunity to increase the economy growth of region.
Legacy of events:

Long term impact on stakeholders: Conduction of event requires fund and that is
collected with the help of investors or stakeholders who are interest to invest. It provides benefits
to both and organiser in term of generating revenue and profit. As well as provides benefits to
audience in terms of fun or learning.
P4 different strategies used to measure the impacts which is responsible for development of
event
Management strategies in event firm refers to tool or techniques that are used to control
and direct path to business for achieving objectives of events. In which event strategies refers to
planning or forecasting of path /process for getting success in events. It involve all activities and
function from start point finishing point (Hao and et.al., 2018). It become important for event
organiser to control all moving parts of events in average range. In which some of management
strategies are discussed below:
Techniques to measures impact:
Balance scorecard: It is a performance strategic tool used to measure the performance of
activities or function. It provides information and suggest path to select appropriate strategy. In
event industry, it is very difficult to collect data of each individual person that time this tool is
useful for organiser of event in order to get quantitative result for devising strategies in effective
way.
Corporation environmental management model: This is related with the role and
responsibility of organiser in term of protecting natural environment from harming. This model
helps to event organiser in order to measure the impact of event on environment (Aemisegger
and Papritz, 2018). In which it creates capabilities for increasing competitive strategies by
responding on social requirements.
Role of government: The government of every nation plays an important role for event
industry as it become necessary to take permission for organising some events at public place
such as trade fair, act activities etc. the owner of event need to follow all government policies in
order to get success.

PART B (Covered in PPT)
TASK 3
P5 Analyse the positive and negative impacts in relation to macro environment of global events.
Macro environments refers to those factors which affects the function and performance of
business unit for that it is important to analyse all external factor for smoothing running of
operation. These factors cannot be controlled by any firm, and they have to considered all these
factors in order to carry out all function or performance of company in effective way (Hudson
and Hudson, 2017)(Hao and Singh, 2020). In context of given event, PESTLE analysis is carry
out along with their positive and negative aspects which is discussed below:
Political factor: It is important for event industry to consider all rules and regulation that
are introduce by government in order to carry out smoothing running of business function . It
includes change in government policies that may put impacts of event industry, create conflicts
and many more. For this event industry need to flexible in nature so that they will be able to
accept all changes.
Positive impact- It being political stability and aids company to run their operation
smoothly.
Negative Impact- After Brexit, the event industry faces so many challenges such as high
taxation rate on importing equipments which may admonish them from coming to UK to in order
to perform.
Economical factor: It includes all these factors that are related with the economy such as
economic growth, interest rate, inflation, income of customer taxation policies etc. The economy
condition of UK is good in comparison to other country which gives benefits to event industry in
term of organising events successful.
Positive- Event industry helps nation in increasing the economic growth by generating
more revenue.
Negative – Hosting a community event earns positive net economic but still there are
chances of possessing a high opportunity cost. This type of cost has an essential role on how to
make right decision about investments for communities.
Social factor- It refers to those factors which involves geographic, demographics, ethics,
cultures, values, lifestyle issues or end users pattern. It puts a huge impact on event industry as it

the preferences and trends of consumer is changing continuously for this owners of events need
set strategies or plan according to demands of consumers.
Positive- It puts positive impact as it establish positive relation with community peoples.
Negative- along with positive it leaves negative too as it violates the values of individual
who are not taking part in events.
Technological factor- This permits one individual industry to see how new technologies
can affects their function or activities at competitive marketplace. As UK posses a good access
towards technology so in context of given event they have good opportunity to adopt new
technologies such as quality innovative skill in order to get success.
Positive: Adoption of new technologies aids firm to introduce new unique and creative
service which attracts huge number of people.
Negative: It needs lots of investment in term of learning new skills and knowledge for
innovation.
TASK 4
P6 Perform a SWOT analysis for a specific event to determine and analyse the criteria necessary
for successful planning of events.
SWOT analysis is a scientific approach for identifying strength , weakness, opportunities and
threat of any organisation or events. In which strength and weakness comes under internal
factors on the other hand both opportunity & threat comes under external factor. It is important
to promote strategic plan, as it helps in decision making process as well as as helps in
understanding the positive and negative aspects of business (Valaskivi and et.al., 2019). In which
a SWOT analysis is implemented in context of major event London 2012 Olympic games:
Strength Weakness
 Wide rage of geographical presence in
various areas acts as strength of
Olympic games as it helps in
determining the target market along
with consumers.
 Strong online existence on various
 Due to poor waste management
systems, company criticises with the
environmentalists.
 Liquidity position and overall business
performance is affected sometime
because of cash shortage or inadequate

social media sites aids organiser in
developing strong relationship with
consumers.
 Location is another strong point for
Olympic games as it helps in gaining
competitive advantage with position of
firm at marketplace.
availability of current assets.
 Decision making process consume too
much time which affects introducing
process of new product in market.
 Organisation culture is an other big
internal weakness factor when it does
not align with the strategies of
business.
Opportunity Threat
 The rapid change in growth of
population is act as a great opportunity
for Olympic games organisers.
 Developing of new innovative
technologies can decreases the cost
with improving efficiency and quality
will leads to enhancement of profit.
 The emergence of social media as a
trend acts as a great opportunity for
London Olympic games.
 Entrance of competitive rivalries is the
biggest threat of any kind of firm or
event as it affects the sustainability of
consumers base.
 Introduction of new strict instruction
from government is an another big
threat for London Olympic games as it
raise the risk of expensive law suits.
 Changes of inflation rate affects the
cost of production along with profit.
From above SWOT analysis it has been analysed that every events required a proper
strategy in order to achieve success and growth in which hosting an events is not an easy task so
for event organiser it is important to devise effective strategies and plans to achieve objective of
event. For this there are various factors that helps them in attaining goal of event in which some
of the factors are discussed below :
Aim of objective: There is a purpose behind conducing or organising any events in which
the main aim is to gain success and earn money for this it is important to make effective and
appropriate strategies as well as proper allocation of resources is required (Viehoff and Poynter,
2016).

Understand audience: This factor refers to identification of target consumers or audience
along with their demands, this will aids company to introduce effective and trendy product or
service. Once they identified the potential consumer then their next step is to approach them for
this there are various steps to reach prospective audience such as social media, Search engine
option, etc.
Selection of right venue: It is the most important factor as it influence consumers so that
it is important for organiser to select appropriate venue which depends on size, type and number
of audience.
CONCLUSION
From above report its has been analysed that events industry is the main element of
nation for achieving success and growth as it contributes in increasing the economy of nation at a
large scale. This industry is very diversified in nature as it divided on the basis size, form or
content. All these elements plays significant role in their own with regards to development and
growth of industry. Furthermore, PESTLE analysis and SWOT analysis aids events industry to
identify external and internal factors that affects the function of events for attaining the goal of
company. In addition to this various techniques and tool is used for devising and creating
effective business strategies which helps company to accomplish organisational goal in a small
period of time.

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