Global Events - Assignment

GLOBAL EVENTS

Table of Contents
INTRODUCTION..............................................................................................................1
TASK 1 ............................................................................................................................ 1
P1 Examine the diversity of the global events industry, including its structure and
organisation and the role of different types of events in society..............................1
P2 Factors which impact the development of events industry globally ...................3
TASK 2.............................................................................................................................4
P3 Evaluation of the value, legacy and the impact of events on the environment in
which they operate and appraise the management strategies used to support
responsible event development...............................................................................4
P4 In addition, there are various kind of techniques in order to measurement of
impact which are as followings................................................................................6
TASK 3.............................................................................................................................7
Covered in PPT....................................................................................................... 7
TASK 4.............................................................................................................................7
Covered in PPT....................................................................................................... 7
CONCLUSION................................................................................................................. 8
REFERENCES.................................................................................................................9

INTRODUCTION
Global events are those which are conducted at international level by the
companies in order to understand the behaviour and the nature of the audience which
excites and emotionally engages them in the events industry. There is different type of
events such as corporate events & seminars, conference & exhibition, music & art
performance, sports, festival, promotion or fundraising, trade shows and many others.
The global event industry focus on holding various events which are different from each
other on the basis of type, resources, region, organizer and others. In this report the
selected organisation is London’s ExCeL Exhibition Centre which are organising various
international events. In the year of 2012 they held an Olympic event in which they were
able to get higher success and growth which inspire them to organise many other events
to get the higher profitability and sustainability of their business. This study will cover
about the diversity of the global event industry and the role of different types of events in
society. Along with this, the impact of the internal and external environment on the
global event industry also will discuss in this file.
TASK 1
P1 Examine the diversity of the global events industry, including its structure and
organisation and the role of different types of events in society
In order to attain higher success and growth in the event industry it is necessary
for the event manager to stay concern about the society and the audience so that they
will be able to get support of the audience in organising a successful event. However, in
context of London Excel Exhibition Centre, they render several platforms to the
companies to enhance their profitability level by organising events like music, sports,
exhibition etc. Diversity refers to the different culture, economics, policies which should
be maintain by organisation in order to attract a range of audience in an efficacious
manner (Orlowsky and Seneviratne, 2012). The global events industry create
diversification on the basis of size, form or content which are explained below:
As per the Size:
Local or community events: This kind of event refers to an activity or event
which is a planned gathering on public property. This event is open to all the members
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regardless of religion, color, nationality, race and other aspects. The main motive of
organizing this kind of events is to enhance the economy growth, fostering community
pride, motivates the people to mark the important events.
Hallmark events: Hallmark events are foremost fairs, expositions, cultural and
carrying events of international reputation which are held on both a regular or a one-off
basis. The main function of this event is to help the business to secure a higher position
in the tourism marketplace (Taks, 2013).
As per the form or content:
Sports events: This type of events include all the athletics activities which needs
some specific skills or physical power. For operating this king of organization effectively
government has determined some rules and regulations so that the purpose behind
organizing events can be achieved and competitive advantage can be attained.
Business events: A business event is consisting a minimum of 15 persons who
has common interest or occupation which is organized by an organization with the
motive of to promote a product, to cope the issues, to reward and to increase the
sufficiency of resources. This may comprise conventions, seminars, courses, corporate
retreats and others.
Structure and components of event industry:
 Event management Companies: This involves all those professional persons
and individuals who give their major focus on organising the events according to
the client’s requirements. All the activities are organised by event manager by
considering the type of event. For instance, social, formal parties, business
meeting, seminars and others.
 Event industry suppliers: This industry is consider as more complex as it
consists a range of specialised suppliers. All these specialised person provide
huge contribution in organising a successful event so that the desired outcomes
can be attained. Supplier render several facilities like production, entertainment,
catering, staging and many more. All these functions enable the company to meet
the customers requirement so that the objectives of the event can be fulfilled with
great efficiency (Zscheischler et. al., 2014).
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 Venues: This is the place where a meeting or an event is organising such as a
concert, conference, sports, music events etc. It is an important component of
event management on which the success of the event is depended. So it is
essential for the event manager to first analyse the demand of the clients and
then plan to organise an event so that the success of the event can be assured.
Role of events within society:
The impact of event industry in the development of economy is remarkable as it
provides huge contribution in rising the national income level. As per the above
discussion it can be said that the Mega or hallmark events are more beneficial and
profitable as it has direct positive impact on the society as well as whole economy. For
example, festival events have huge role in developing the society as it provides great
connectivity and communication between the communities which has direct positive
impact on the succession of the event. By involving in this kind of events, citizens will be
able to understand and enhance their knowledge regarding to the several cultures,
music, games, arts and others. So that they can give their support in holding this type of
events which results higher revenue and success of the company as well as
development of the society (Turner and et. al., 2014).
P2 Factors which impact the development of events industry globally
The global event industry plays an important role in the development of the whole
economy so it is essential for the event manager of the business to acquire a higher
position in the marketplace. The various factors in the environment are available which
have great impact on the event industry globally which can be understand by the
following points:
The growth and emergence of event industry: In this aspect, in previous time
the event industry has to face various difficulties because of resources, technologies,
capital, manpower and other which lead direct impact on the performance of the
business. But in the present world, the innovation and the creativity covers a big
marketplace which provide great benefit to the event industry. It enhances the
development of the technology like innovative applications, cloud computing, artificial
intelligence and many other. All these techniques help the business of London Excel
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Exhibition Centre to attain higher market share and profitability in the limited period of
time which will help them to increase their overall brand value and financial position.
Event history and socio-cultural developments: In this phase, the major focus
given to the preferences, needs, demographic, cultures and others which have both the
positive and negative impact on the profitability of the company (Streicker, 2016). In
order to tackle this factor, London Excel Exhibition Centre needs to create awareness
regarding to the public issues and different culture, beliefs among the people which will
helps the society in gaining the knowledge about several socio culture which will provide
direct benefit to the economy as well.
Therefore, the above mentioned factors have great impact on the London Excel
Exhibition Centre negatively if they will consider them in their business operations.
Hence, it is necessary for them to consider all these factors for sustaining their business
position (Kirkendall and et. al., 2012).
TASK 2
P3 Evaluation of the value, legacy and the impact of events on the environment in which
they operate and appraise the management strategies used to support responsible
event development.
The events which are organized by companies have a significant impact on
environment. It is so because a company exists in environment and utilise a wide range
of resources in order to compilation of events. In the aspect of above excel London
company, they are organizing a vital event at global and local level. As well as they have
seven on site hotels in which various kind of events are organized on regular time
interval. These all events impact to the environment in below mentioned manner that is
as follows: Impact on social and cultural aspects- The events have their impact on social
and cultural environment in both positive and negative manner such as:
Positive impact- The positive impact of events is that it builds networks inside and
outside of communities. As well as in the events cultural aspects are promoted which
leads to awareness about traditions. Like in a cultural event, young people can know
about their cultural dress, religion and many more.
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Negative impact- Apart from it, this has negative impact also on social and cultural
environment. Like loss of community ownership, bad behaviour etc. (Cai and et. al.,
2014). Impact on physical and environmental-
Positive impact- The positive impact of events on environment is that by this model of
best practice can be provided to general public. In addition, it helps in better
transportation and communication service.
Negative impact – Along with the positive impact, the events has negative effect also
such as damage of environmental sources and noise pollution. Impact on political-
Positive impact - The positive impact on political aspect is promotion of investments,
increased prestige at global level.
Negative impact – In addition, there are some negative impacts also political aspects
such as risk of failing of event , improper allocation of funds and many more. So these
are some common negative impact on political (Babcock and et. al., 2015). Impact on tourism and economic -
Positive impact - There are many positive impact of events on tourism and economics
which are as follows such as :
* Increased visits – This is one of the important impact of tourism and economical
industry which is regards to increasing in number of visitors that leads to more income
and revenue through events.
* Job creation – In addition, due to successful events many short-term job opportunities
are also created. This is so because in the organisation of an events lot of activities are
included which are needed to be performed by human beings. Thus, job opportunities
are created.
 Increased tax revenue – As well as due to events , tax revenue of government
is also increase which leads to higher growth of economy.
 Negative impact – Apart from it, there are some negative impact of events
such as higher opportunity cost , damage of goodwill etc. All these can
impact on economy of a nation in a negative way.
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Contribution of events to economy at national, regional and local level -
 At national level - The events which are performed globally have an impact on
national level. This is so because in international events, visitors come across the
nations which leads to increase the level of foreign currency.
 At regional level – Events contributes at regional level also such as increasing
the domestic tax collection which help to boost economy (Collier and Doan,
2012). At local level – Apart from it, the events play an important role in increasing
economic growth at local level. This is so because due to organisation of events
more job opportunities are increased as well as available resources are utilized in
an effective manner.
Event legacy -
 Impact on stakeholders- In the process of execution of an event, various kind of
stakeholders are included such as investors, organizers, visitors etc. These all
are effected as per the success of events. If events got success, then investors
will be able to get profit on invested capital. As well as visitors will get some
entertainment on succession of an event (Markle and et. al., 2017).
P4 In addition, there are various kind of techniques in order to measurement of impact
which are as followings
 Corporate environmental management model – It can be defined as a kind of
model which is related to an organization's responsibilities to desist from
damaging the natural environment. In aspect of measurement of impact of events
on environment, this model is crucial because it evaluates whether
responsibilities towards various aspects of environment are completed or not.
 Balance scorecard - This model is linked with process of evaluating goals and
objectives of various kind of activities. Hence, it helps in process of assessing
performance of events.
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TASK 3
Covered in PPT.
TASK 4
Covered in PPT.
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CONCLUSION
From the above file, it can be concluded that global event industry is one of the
fastest growing industry which provide huge contribution in the growth of the whole
economy in a significant manner. Global event industry is diversified in various aspects
on the basis of the size, form or content in which each has their own importance and
role in the development of the business. Moreover, the SWOT and PESTLE analysis
helps the business to identify its internal and external challenges so that they will be
able to solve them in order to attain the higher competitive advantage. Along with this,
the different strategies has been defined in the above report which helps the business in
formulating effective decisions so that they can achieved their desired outcomes in the
limited period of time.
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REFERENCES
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