Diversity in the Events Industry

Global Events

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Determine the diversity of global events industry ................................................................1
P2 Factors which impact the development of events industry globally .....................................4
TASK 2............................................................................................................................................5
P3 Identify the value, impact and legacy of a range of global events ........................................5
P4 Strategies for the enhancement of global events ...................................................................6
TASK 3............................................................................................................................................7
P5 Examine the effect of macro environment of global event industry ....................................7
TASK 4 ...........................................................................................................................................8
P6 Application of SWOT analysis to identify internal business environment ``......................8
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Global events means when a particular organisation or people conduct particular art at a
determined time and place in an international level in order to entertain and engage public in an
effective and efficient manner. There are different sort of events such as conference &
exhibition, corporate events & seminars, promotion or fundraising, music & art performance,
sports, festival, trade shows and many more. The foremost aim of organising all these events is
to enhance business profitability, improve brand image, enrich sales performance, creates
positive impact over community or society in an improved style (Babcock and et. al., 2015).
There are various factors or challenges which threat particular establishments to acquire best
positioning within competing industry. The key feature which leads a specific events successful
is that acquiring novel ideas or technologies within their business functions in a better manner. In
regard of this report, London's Excel Exhibition Centre has been considered which is established
in UK and where several kinds of events occurs by different groups. However, the reason behind
conducting this study is to identify the competition level of existing market in order to attain
increased level of profitability among UK marketplace. In this study, it includes to determine the
diversity and factors of global events industry, strategies for enlarging global events market
share. Finally, application of appropriate models or concepts to examine micro and macro
business environment.
TASK 1
P1 Determine the diversity of global events industry
In present era of market scenario, there is an intense level of competition which generate
high range of opposition or rivalry among companies that directly influence its decision making
capability. So, to enrich the productivity and to improve overall performance organising
international event plays a significant role. However, in context of London Excel Exhibition
Centre, they provides various platforms for companies to improve their brand image by
conducting events like exhibitions, music, art and etc (Berkebile, 2017). in an efficacious and
expeditious mode. Diversity means combination of different culture, economies, language,
policies, ideas which nurture and portray by organisation to create a positive image and to
maintain better relationship among community or society for enhancing the overall performance
performance in an amended manner. As the technologies and innovation increases, it create huge
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threat over London Exhibition Centre in terms of taking corrective course of action for surviving
within competing marketplace for longer period of time. However, the hosting of international
events such as Olympic, cultural, music, games and etc. have been seen as opportunities to
stimulate growth or development in country and specially cities who host the programs.
However, global events industry contains several diversity within its sector which has its own
ideas or concepts that differ from each other. Therefore, the diversity of global event sector are
explained below:
On the basis of size
Local or community events: Under this, it is refer to those event which is planned or well
structured gathering on public premises consisting of 50 or more audience and that is blocks/
reserves access to public property. Some of the examples are pre planned Marches, parades,
Weddings, Concerts in the part and so on for engaging public emotionally and mentally in an
improved way. For example, London Excel Exhibition Centre organised Olympics in 2012
which raised the profile of UK in an impressive style as it generated huge impact over
community by bringing them together and empowering each individuals to participate actively
over event. Due to which they gain team spirit and positive bonding among each other in-spite of
all religion, culture and beliefs (Burson and Wright, eds., 2015).
Major events: It is refer to those type of event which has the potentiality or capability to
be internationally significant through which they can generate interest, profile or visitation from
other countries in order to gain competitive advantage. Some of its are sports, cultural,
appreciation events and so on bring momentous economic advantage to cities or regions in which
they are hosted. However, major events of all kinds, sports are considered as major element in
the competitive market that provide attraction for particular residents as well as ensure that the
city's name is profiled in national and international media.
On the basis of form or content
Cultural events: It is relates with those event which represents culture in terms of music,
art, poetry recitation and many more for improving the economic, social and cultural status of
company in an improved way. For example, local festival, Parades, volunteer activity for
charitable firm and etc.
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Sports events: It is a program where multi athletic activities takes place by requiring
physical excretion or skill and that is governed or directed with a set of rules or policies by
nationally recognised body as well as often held over multiple days in competitive nature.
Henceforth, the above discussed diversities of global event industry enable London Excel
Exhibition Centre to expand its productivity and profitability in an impressive mode. Moreover,
it help them to acquire several innovative techniques which lead them to obtain best position
among competing industry. However, international event industry contains its own structure and
components which provide them proper guidance or direction in terms of achieving business
objective in an efficient mode.
Event industry suppliers: In this, activities or programs take place with a help of
specialised suppliers who are directly connected with particular organisation which leads them to
conduct event more successful and fruitful for company in terms of productivity and proficiency.
Some of the service which suppliers offers are staging, production, catering for rendering high
level of satisfaction and motivation from targeted clients (Della Porta and et. al., 2015).
Event management companies: Under this, a group of professional event organisers who
takes an initiative in managing, organising, planning the entire function for satisfying the clients
in an improved style. Some of the activities which is organised by event management companies
are business conferences, job fares, festivals and etc. Under this, their role in organising such
events includes hiring and management event, location scouting, procurement, transportation,
entertainment, event evaluation in order to provide best service for targeted audience which
benefits them to enlarge its market share or size.
Role of events within society
The global events plays a signifiant role on society as it directly impact on them in
positive and negative manner. In context of major and sports events, it is regraded as one of the
fastest growing sector which effect positively over organisation's proficiency. For example,
cultural activities help firm to build positive relationship with community that aid them to gain
competitive advantage. Moreover, by organising such type of events assist each individuals to
acquire information or knowledge about several arts, beliefs, values, norms, games, cultures that
lead them to behave equally with every personnel (Fischer and Knutti, 2015). Along with this, it
improves the status of specific region's economy that enrich the living condition of society in an
efficacious way.
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P2 Factors which impact the development of events industry globally
The global event industry is considered as one of the booming sector which help
establishment to acquire best position within competitive marketplace. However, advanced
technologies or novel ideas plays a crucial role in accomplishment of business goal or objective
in an amened manner. There are several factors which challenge the events industry who operate
its functions at international pace which are discussed below:
The growth and emergence of event industry: Under this, in olden days event industry
undergoes through a huge difficulties in terms of resource, fund, technologies, manpower and
many more which directly influence its decision making skills or capabilities. But as the time
passes, innovation or creativity takes place in a faster pace within companies which impact event
industry's proficiency in a drastic manner. However, in current era of marketplace, there are
several techniques like artificial intelligence, innovative applications, cloud computing and etc.
assist London Excel Exhibition Centre to enhance their market share and profit margin rate as
well in a better mode (Getz and Page, 2016). However, an appropriate adoption of technologies
lead London Exhibition Centre to attract wide range of population towards their marketplace
which enrich its productivity and brand value.
Event history and socio-cultural developments:Under this phase, it encompasses clients
or population taste or preferences, demographic, market trend or cultures and many more which
effect negatively over company's productivity ratio. However, to tackle over this factor, London
Excel Exhibition Centre makes an attempt to create awareness regarding public issues, activities
related to various cultures or beliefs which help each community or individuals to gain
knowledge about several socio-cultural ans well as aid them to maintain a better relationship
with each other. Additionally, it enhance the goodwill or brand image of London Excel
Exhibition Centre in an innovative and creative style for acquiring increased level of client
satisfaction and motivation (Giampiccoli, Lee and Nauright, 2015).
Therefore, the above mentioned factors influence London Excel Exhibition Centre which
effect negatively over their profit margin and productivity. Hence, they should takes an effort to
analyse the current or upcoming market trend and based on that make corrective course of action
in order to obtain profit maximisation with an optimal utilisation of resources in a better manner.
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TASK 2
P3 Identify the value, impact and legacy of a range of global events
To sustain within event industry, a best strategic decision enable companies to adopt
innovative or modern resources for an achievement of pre determined goal or objective in an
impressive and productive style. Moreover, there are some features which organisation concern
while organising any event i.e. value, impact and legacy for obtaining maximisation of profit in
an improved mode. In regard of London Excel Exhibition Centre, they makes an attempt to
consider these factors in order to cope up with all challenges or threat from competitors and also
aid them to enhance its sales performance. Some of the elements which encompasses value,
impact and legacy are mentioned below:
Value: In this, it signified that it is a combination of norms, beliefs, thoughts or opinions which
help organisation to achieve its pre determined objective within stipulated period of time. The
primal feature of event industry which improve overall performance of company in a better
manner is that maintaining or respecting ethics, providing relevant information and many more.
With the application of such attributes enable London Excel Exhibition Centre to attain increased
level of productivity in an amended way (Gruneau and Horne, eds., 2015). Moreover, events in
which targeted population feel as a useful tool is the positive symbol of success of that particular
activity. Along with this, generating awareness and rendering accurate information as well as
knowledge about current issues help each individuals to enhance their skills or knowledge in an
improves manner.
Impact
Physical and environment: Under this, while organising an activity, hosting country or
company should be very sensitive with atmosphere or surrounding as it has a huge influence over
clients or customers. On the contrary, if London Excel Exhibition Centre acquires impressive or
attractive physical ambiance it aid them to capture the attention of large number of population
towards their firm which improves its sales performance as well as enrich brand image within
competing marketplace (Horne, 2017).
Economic: In terms of economic, government policies, procedures, rules, regulations
which influence company's decision making capabilities. However, if London Excel Exhibition
Centre makes an attempt to identify the marketplace trend or demand and on the basis of that
taking corrective course of action help firm to enrich its volume of sales in an amended manner.
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Legacy
P4 Strategies for the enhancement of global events
Event is described as transient and every event is a unique blending of its duration,
setting, management and people in a desired period of time and budget with an aim of satisfying
community or society. In the existing scenario, global events are prominently growing which
influence its economic, social, political factor in a positive as well as negative way. Therefore,
some of the strategies which London Excel Exhibition Centre can applies within their business
premises are as follows:
Corporate Environmental Management Model: Under this, it is relate with those aspect
in which it states how companies address environmental and natural resources issues, while
promoting shareholders value an linking the firm's market objective to the the environment.
Moreover, this model enable organisation to identify growth platforms which lead them to satisfy
social demands, regulatory pressures as well as to improve overall performance among
competitive marketplace in an amended mode (Jolly and et. al., 2015). Furthermore, it help them
to comply with all rules or regulation and also empower London Excel Exhibition to provide
accurate or relevant information to stakeholders that enhance the brand image of company in an
trenchant manner.
Balance Scorecard: It is refer to those framework which is used to implement and
manage strategy. It links to strategic objectives, measures, targets and initiatives which aid
company to achieve business objective in an expeditious manner. In addition to this, it help
London Excel Exhibition Centre to balance financial measures with performance measures or
objectives that enable them to acquire best positioning within competing marketplace in an
innovative and creative style.
Therefore, from the above explained strategies, balance scorecard is considered as most
suitable application for London Excel Exhibition Centre as it enable them to attain high level of
proficiency and volume of sales in an impressive and productive style (Kyu and et. al., 2016).
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TASK 3
P5 Examine the effect of macro environment of global event industry
Macro environment includes external factors like, political, technological, social, etc. that
directly or indirectly affect business decision-making process and organizational behaviour in
positive or negative way. The negative impact of macro environment on global event is
discussed as:
Political factor: The political environment of the nation should be stable so that
London’s ExCeL Exhibition Centre can grow their business easily. Foreign trade restrictions,
bureaucracy etc. examples of political factor. It affect top level management decision making
process and organizational behaviour in positive way. By framing tactics to cope up with
political factor global event can meet set goals and objectives. Example: X firm expanding
global event in other nation and the political condition is stable. It will help the firm to grow the
business easily in short time duration (Lesk, Rowhani and Ramankutty, 2016).
Economical factor: Examples of this is wages, interest etc. which affect the
organization behaviour in positive manner as policies are framed accordingly. London’s ExCeL
Exhibition Centre decision making process is affected because they need to modify their long
term gaols according to the dynamic environment. Example: X firm adopts economic factor so
that events can be conducted smoothly without government interference. Which raises more
customer base for the product and services.
Social factor: Customs, society beliefs etc. are stated under social factors which
decision-making process and behaviour at a large extent. London’s ExCeL Exhibition Centre
follow social factor so that goodwill can be raised in the eyes of the customers. Example: X
company follow social factor as it directly raises customer base for the product and services.
Violation of this brings huge loss to the firm which affect the business productivity nad
profitability ratio.
Technological factor: Modern tools and techniques helps London’s ExCeL Exhibition
Centre to meet the set objectives. It indirectly affect the decision making process and
organisation behaviour in positive way . It helps them management to take decision for the
betterment of the employer and employees. Examples: X company adopts modern tools to meet
the demand of the customers. Due to which tough competition is created for rivalry in intense
competitive world (Markle and et. al., 2017).
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Environmental factor: Demographic and psycho-graphic change affect London’s
ExCeL Exhibition Centre as they need to come up with innovative idea to satisfy customers
needs and demand. Example: X administration invest huge revenue on research and
development field to come up creative idea. It helps business to capture huge market share as
compare to competitors.
Legal factor: To retain capable staff members in firm London’s ExCeL Exhibition
Centre adopts legal laws effectively. By adopting this factor it raises goodwill in the market.
Example: X firm follows legal laws so as to assure human assets that they are safe and secure in
the working premises. By doing so employees can be motivates to perform better to meet the
desire objectives (Mora and et. al., 2017).
TASK 4
P6 Application of SWOT analysis to identify internal business environment ``
SWOT analysis is regraded as one of the important tool which help organisation to
identify its internal capabilities or potentiality and on the basis of that making best strategic
decisions which lead them to strengthen its overall performance and profit margin in an
amended way. However, London Excel Exhibition Centre makes an effort to implies the same
within its functional areas that is described below:
Strength
 The foremost benefit which London Excel Exhibition Centre acquired is that it has been a
successful in organising various national or international events within its premises.
Among them, Olympic 2012 was the biggest success for them as it improved its
proficiency in a better way. However, due to its impressive team spirit, collaboration,
innovation, cooperativeness London Excel Exhibition Centre can utilise the opportunity
organising Fifa World Cup 2022, which assist them to enhance its market share or size in
an improved way and also help them to bring high level of satisfaction to audience that
improves its brand image among UK industry (Müller and et. al., 2016).
Weakness
 The major drawback which has been analysed within London Excel Exhibition Centre is
that there is a lack of media support, social loafing, internal disputes or misunderstanding
and many more which directly effect over company's goodwill. However, in order to
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attain sustainable profitability, London Excel Exhibition Centre can do systematic
planning for upcoming events in order to gain competitive advantage as well as improved
sales performance in a better manner without any hindrances.
Opportunity
 The industry where London Excel Exhibition Centre survives is highly competitive
which effect firm's proficiency and decision making capability. However, company can
make use of Fifa World Cup 2022 as it lead them to enrich its volume of sales as well as
help them to cope up with all current or upcoming challenges in a better manner.
Furthermore, it help them to make use of available resources in order to obtain profit
maximisation in an trenchant and prompt way ( O'shea and et. al., 2016).
Threat
 Due to an intense level of competition from macro or external environment such as lack
of government support, less availability of resources, and poor infrastructure directly
impact over London Excel Exhibition Centre's decision making ability in order to attain
sustainable profitably.
Henceforth, the above mentioned SWOT analysis help London Excel Exhibition Centre
to identify or determine its internal potentiality as well as empower them to make corrective
course of action which lead them to acquire best position within competing industry (Skerlak
and et. al., 2015).
CONCLUSION
To recapitulate the above discussed report, it has been signified that global events
industry is one of the booming and fastest growing sector which provide enormous opportunities
to different organisation for enhancing proficiency in a amended way. Moreover, global event is
classified into various divisions and each of them has its own responsibilities, regulations,
policies for accomplishing the business goal or objective in an efficacious way. Apart from this,
implication of SWOT and PESTLE enable firm to cope up with all upcoming challenges of
marketplace in a competing style for gaining sustainable profitability. Furthermore, different
strategies like …. assist organisation to take best strategic decisions that help them to achieve its
pre determined objective in an improved manner.
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