Tourism Events: Pestle Analysis, SWOT Analysis, Porter’s Generic Strategy, Business Ethics and CSR Activities

This report covers Pestle analysis to determine SevenEvent’s external environment and SWOT analysis to determine its internal environment. It also depicts the competitive advantages of SevenEvents with the help of Porter’s generic strategies, importance of business ethics and CSR activities, initiatives taken by this event industry in today’s business environment and a leadership style for considering various ethical aspects.

TOURISM EVENTS

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
Overview of tourism sector:........................................................................................................1
History of hospitality industry:...................................................................................................1
History of chosen industry:.........................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Pestle Analysis of hotel Hilton-..................................................................................................1
SWOT Analysis by Hilton-.........................................................................................................2
Porter’s generic strategy of Hilton-.............................................................................................3
TASK 2............................................................................................................................................3
Business Ethics and its importance.............................................................................................3
Ethical consideration in today’s business environment:.............................................................4
Leadership style considered in ethical aspect:............................................................................5
Recommendation.............................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Overview of tourism sector:
Tourism is the movement of people to countries or places for their personal or business purposes.
It is the process of spending time away from home like recreation, relaxation and pleasure. It
helps in boosting revenue of company and create thousands of jobs to develop the infrastructure
of the country. Travel and tourism services in the hospitality sector involves leisure and business
travellers. This sector can be seen as a global phenomenon which satisfy the touristic needs of
mobile mass, groups and individuals. Travelling plays an important role in tourism sector which
helps in exploring mentally and emotionally which provides various social benefits and cultural
enrichment. This sector provides sources of public as well as private income and various
employment opportunities for government which can be an important part for the growth and
development of country. Product of tourism covers number of different categories: transport
service, accommodation, hospitality, travel agency etc.
History of event industry:
Event industry is one of the wide categories which includes learning the brand, recognising the
target audience, formulating the concept of event, planning the administration and synchronising
the technical aspect before launching the event. An event needs a proper preparation and
working with fund and plan which creates a complete event for the client (Buckley, 2020). Event
can be created occasionally which provide a fabulous chance to promote the business. This skill
is necessary for the firm to build a positive image of whole company and enable a undeveloped
company to set a sense of interest in common people about commodity and services they offer.
History of SevenEvents:
The chosen event industry for the report is sevenEvents which was founded in UK, London. It is
one of the largest event brands in UK. This brand is specialised in developing various event
programs which are innovative, provide idea to the guests and convey excellent deal. This report
covers Pestle analysis to determine SevenEvent’s external environment and SWOT analysis to
determine its internal environment (Dashper and Fletcher, 2019). This report also depicts the
competitive advantages of SevenEvents with the help of Porter’s generic strategies, importance
of business ethics and CSR activities, initiatives taken by this event industry in today’s business
environment and a leadership style for considering various ethical aspects.
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MAIN BODY
TASK 1
Pestle Analysis of SevenEvents-
Pestle analysis is a framework used to analyse the performance and activities of SevenEvents. It
helps in establishing the external factors which impact decisions made inside the company. This
analysis of SevenEvents examines the various external factors like political, economic, social,
technological (PEST) which impacts its business along with legal & environmental factors. The
following is a Pestle analysis of Hilton for the UK market: Political: This factor determined that how government is involved in the economy.
Political factors include government policy, political stability, tax policy etc. In case of
SevenEvents, political stability becomes the most important factor as events need to
manage with the various political situation. This company is already operated in various
countries so it is exposed to various political risks connected with the country. Economic: This factor is a basic factor for the success of any company. Event industry
must check the economic condition of country which impact number of guests who wan t
to organise events (Landauer, Goodsite and Juhola, 2018). This factor includes cost of
living, interest, wage rates etc. In context to SevenEvents, if available income is low then
people will not focus on the event sector. This will result in the loss of profitability of
country. Social: This factor includes age distribution, growth rate, attitude, health and safety
which is very important for the company to plan better marketing strategies. In case of
SevenEvents, this brand is very well known among international visitors and affected by
various social factors like consumer lifestyle, consumer demographics, population growth
rate, gender ratio, etc. With the increase in income of people, their habits of living will
also change which affects the lifestyle of guests and it is very beneficial for them. Technological: This factor involves creativity and development in the technology which
brings continuous improvement in today’s world. In context to SevenEvents, it must
update its technology when it is necessary for increasing the value proposition of event
comopany for customers. For instance, due to the rise in social media and various
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websites had helped customers to choose SevenEvents by checking samples on their
profile anywhere at any time according to their convenience. Environmental: This factor is related with the surrounding environment which affects
physical condition of any organisation. This factor includes weather, climate,
environmental policies etc. In context to SevenEvents, climate change is a serious
environmental threat as different countries have different countries have different rules
and different environmental standards which can affect the profitability of the selected
company.
1. Legal: This factor deals with how law affects the way businesses operate and customers
behave (Hahm, Tasci and Terry 2018). In relation to SevenEvents, it should look at
various laws made by different countries to maker required changes made by the law.
SWOT Analysis by SevenEvents-
SWOT analysis is a technique which helps to analyse and understand the overall performance of
business. SWOT Analysis is a management framework which enables a brand like SevenEvents
to specify its business & performance as compared to the competitors (Li and et. Al., 2018) .
This will help the business to penetrate in a market to meet business targets in a better way. The
following is a SWOT analysis of Hilton: Strength: It is an internal and positive factor which a company hold and contribute
success to the organisation. In this factor, a company can do better than their competitors.
In case of SevenEvents, it is a global multinational brand which operates its chain of
events in various countries. It is very well known for its brand recognition and it keeps on
bringing the new ideas for SevenEvents to attract customers. It also has good employee
retention and reputation in the market. Weakness: It is a negative factor which a company might need to improve on to be
competitive. This factor stops the organisation to perform at its better level (Laškarin
Ažić, Dlačić and Suštar, 2020). In relation to SevenEvents, it is dependent on other
proprietors’ organizations since it doesn’t claim the greater part of its submitting
networks. Opportunity: This is related to the factor which give an organisation a competitive
advantage. This element allows the company to formulate and implement strategies
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which helps in increasing the profit. In relation to SevenEvents, games conducted in
different parts of the world and collaboration with the right partner. This will help the
hotel to establish good partners in the market and increment in customer base.
Digitization and better of technology will help the Hilton to survive and attract customers
in the market.
 Threat: This factor is related to the factor which are uncontrollable and proven to be a
risk to the stability and survival of organisation. In case of SevenEvents, there is a threat
of entry of various international hotels in the market.
Porter’s generic strategy of SevenEvents-
Porter’s generic strategy is used to identify a capable function in which they can gain a
competitive advantage in any organisation. Companies can avail the competitive advantage
either by lowering the costs or differentiating their offerings from competitors along the most
valued dimensions to justify the premium price (Ming and Liu 2021). There are Porter’s generic
strategies that are used by multinational firms like SevenEvents to achieve the growth objectives. Cost leadership: It involves gaining a competitive advantage by lowering the cost to
price sensitive customers. In case of SevenEvents, this strategy is used to focus on market
leadership position and to expand the market share. This is done by targeting middle class
people who generally plays a high importance to the pricing factor. It results in the best
strategy to cater the needs of this consumer segment. Differentiation: It is another strategy to build a competitive advantage which makes a
firm to be unique in its industry. In context to SevenEvents, it has used unique strategies
of attracting consumers by concentrating on their changing interest to differentiate itself
from other event companies.
 Focus: This strategy concentrates on small segment which contains two categories that
modify cost leadership and differentiation strategy. In case of SevenEvents, it has
adopted the strategy of offering low cost product and offers the best value. SevenEvents
also revises its branding strategies and brings regular changes in the design of product
and its packaging to satisfy the psychological expectations of consumers and increase the
value for money.
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According to this strategy, if SevenEvents will fail to adopt either cost leadership or
differentiation strategy, it will lose the competitive edge over rivals. This will argue that events
have the middle path available to set a competitive advantage.
TASK 2
Business Ethics and its importance
Business ethics is concerned with the appropriate policies and ethical dilemmas faced by any
business. This contains various process of that helps in building trust in customer. It helps in
deciding what is wrong, right and great in a work environment. The reason of business ethics is to
make sure about moral behaviour inside the company, from executive-level management to new hires
(Dixit, 2019). It helps to make surity about everyone is treated with respect, fairness and honesty.
Business ethics is a wide field as it includes different topics that fall under this category.
Business ethics is very important in every organisation because of various reasons, it keeps the
working of business within the boundaries of the law, to make sure that they are not committing
crimes against their staff, consumers at large and other parties. This will help in succeed if they
are aware of their ethics in business. In case of SevenEvents, it has been recognized as one of the
strictest measures of corporate ethics for driving optimistic changes in the business community
and society. This will result in to keep the business under the expectations and welfare of
society because society will provide the place for business so it should be made bound not to
violate the basic of society. In SevenEvents, business ethics are rules that guide the managers day
to day activities of a hotel. They are set of rules that managers follow consciously or
subconsciously in their daily interaction with their visitors (Alaei, Becken and Stantic, 2019).
Ethics in this event company helped SevenEvents to improve employee retention, stronger
collaboration, professional value and very effective leadership which makes the profit and helps in
bringing the growth and development in hospitality sector and make it as the world’s best event
company in the world.
Ethical consideration in today’s business environment:
Ethical consideration is an accumulation of principles and values which helps in ensuring a good
reputation of company. The ethical components of event industry are important because of
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industry's great international benefit. Business ethics increases the reputation and market
competitiveness of an enterprise. It helps in increasing the goodwill of the company among the
competitors. The business ethics can be developed with help of different CSR (Corporate Social
Responsibility) activities (Hadi, Katircioglu and Adaoglu, 2020). CSR activities can be defined
as a self regulation business plan that stands for contributing towards the society and its
components. In current scenario, event industry is also giving a lot of importance to the CSR
activities. The major objective behind using them are basically because they benefit different
sectors of the society in different ways. In context to SevenEvents, being a popular event
industry, these activities can play an important role in building a responsible brand among all the
competitors in such a way that the overall image of the company can be enhanced. Also, one of
the most important elements that SevenEvents is trying to inculcate it in its business practices is
that they are providing an essential component of sustainability for the upcoming future
generations in a very effective and efficient manner through its business operations. The
respective company has taken initiative in the field of corporate social responsibility which are
mentioned below:
 SevenEvents, being one of the biggest brand in event industry is focussing on providing
employment to the locals and migrant workers which is ultimately helping in increasing
the employment levels considerably. This initiative is helping the ground level
communities to develop and enhance their standards to higher levels. This is ultimately
helping these people to gain considerable compensation from the company. By providing
jobs to the workers and the locals, the respective company is helping in developing the
living conditions and improving the lifestyle standards.
 Also, SevenEvents is making sure that they are focussing on the health and safety of all
of its employees and its customers. It is highly important for every business organization
to maintain health and safety measures to build and develop a safe and healthy workplace
environment (Serdane, Maccarrone-Eaglen and Sharifi, 2020). During the business
ongoing operations, SevenEvents is making sure that it taking care of several aspects by
focussing on the energy conservation, renewal of energy, water conservation, safety
precautions, waste management and many more to become a responsible brand among
the competitors in the field of event industry.
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Leadership style considered in ethical aspect:
Leadership style is a pattern of attitude that a leader acquires which influence the behaviour of
team mates. It is a method of giving direction, applying plans and inspire people in political,
business or other fields. These styles depict the way how a leader implements plans, provides
guidance, and overlooks task (Mekinc, Mawby and Trnavčević, 2017). As leaders play a very
important role in every firm or event industry like Hilton which decides efficiency and effectivity
for the targets of the organization towards the focus of common objectives of organization.
Transformational leadership style is chosen for SevenEvents to consider ethical aspects:
Transactional leadership is a type of leadership style that focus on which leaders encourage,
inspire and motivate employees to initiate and create change that will help in growth and shape
the success of the company (Mahadevan, 2017). In context to SevenEvents, this leadership style
helps in creating valuable and positive change in the followers with the goal of developing
followers into leaders. For bringing some specific changes, these leaders must have the following
four factors: Inspirational motivation: This factor is all about finding ways to encourage the potential
of those who works for them, and inspire others to push themselves, achieve more and
reach that potential. In relation to SevenEvents, these leaders guide their team mates by
giving them a sense of meaning and challenge. They work enthusiastically and positively
to promote the spirit of teamwork and commitment. Intellectual stimulation: This factor depicts with a leader who encourages innovation
and creativity, problem solving and critical thinking to restore their ability and solve their
problems in a creative manner. In case of SevenEvents, they bring new ideas from their
mates and never criticize them publicly for mistakes committed by them. Idealized influence: This leadership style contains leaders who are trusted, admired and
respected. These leaders share their random risk which are so consistent and behave in
ways that result in their being role models for their team mates. In context to
SevenEvents, leaders always win the trust and respect of their mates through their work.
They typically place their followers needs on their own, sacrifice their personal gains for
them and explains high standards of ethical conduct. These people have a common goal
of achieving growth and development of SevenEvents.
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 Individualized consideration: This leadership style concentrates on genuine concern on
the needs and feelings of the follower. This also covers making interpersonal connections
with employees, showing genuine compassion and encouraging ongoing professional and
personal growth or development of employees (Baporikar, 2017). In case of
SevenEvents, these leaders act as mentors to their team mates and reward them for their
creativity and innovation. Workers are treated differently according to their knowledge.
They are empowered to make good decisions and are always provided with the need and
support to implement their decisions.
Recommendation
The adverse pandemic situation of covid – 19 has affected the global economies severely.
This was a human tragedy that affected the health and wellness of huge population around
the globe. In order to handle this kind of pandemic situation, different measures were taken
to address the consequential issues. This was done so that all the economies around the
world can come back on track. While considering the event industry, it was the worst hit
sector. This sector faced huge amount of losses which turned the profitability situation
upside down. It not only reduced the profitability levels but it reduced the level of efficiency
and effectivity in the business operations as well. Although, it has been a difficult situation
but the event industry has fought this situation of facing the global pandemic throughout all
the odds strongly. In context to the SevenEvents , it also took various initiatives in order to
deal with the pandemic situation. They could have made their venues at different locations
available for the purpose of treating the affected patients by providing the hospital beds.
This would have not only helped in providing help to the society. But the respective
business organization and its employees showed their true commitments for event company
so that it could help the society. Therefore, this pandemic situation has the global event
industry to work against the most challenging situations in such a way that they can face the
future contingencies efficiently.
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CONCLUSION
It is concluded from the above information that in tourism sector, event industry is becoming
more important as both the sectors are inter related and dependent on each other. Pestle analysis
of event industry helps in planning decisions of organisation in a better way. The SWOT analysis
of the industry is used to identify strength and helps in understanding current status and measure
overall business performance. This also explains the Porter’s generic strategy which is used to
gain a competitive advantage in any industry. Business ethics also helps in maintain rules,
regulations and proper atmosphere of the firm which is used to define the reputation of industry
as for utilising proper ethics and various initiatives they have also used transformational
leadership style to maintain the decorum of industry.
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REFERENCES
Books and journals
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struggles for legitimacy within the vocational field of events management higher
education. Journal of Hospitality, Leisure, Sport & Tourism Education, 25, p.100201.
Landauer, M., Goodsite, M. E. and Juhola, S., 2018. Nordic national climate adaptation and
tourism strategies–(how) are they interlinked?. Scandinavian Journal of Hospitality and
Tourism, 18(sup1), pp.S75-S86.
Li, J. and et. Al., 2018. Big data in tourism research: A literature review. Tourism
Management, 68, pp.301-323.
Ming, Y. and Liu, N., 2021. Political uncertainty in the tourism industry: Evidence from China’s
anti-corruption campaign. Current Issues in Tourism, 24(18), pp.2573-2587.
Dixit, S. K. ed., 2019. The Routledge handbook of gastronomic tourism. Routledge.
Alaei, A. R., Becken, S. and Stantic, B., 2019. Sentiment analysis in tourism: capitalizing on big
data. Journal of Travel Research, 58(2), pp.175-191.
Serdane, Z., Maccarrone-Eaglen, A. and Sharifi, S., 2020. Conceptualising slow tourism: A
perspective from Latvia. Tourism Recreation Research, 45(3), pp.337-350.
Mahadevan, R., 2017. Going beyond the economic impact of a regional folk festival for tourism:
A case study of Australia’s woodford festival. Tourism Economics, 23(4), pp.744-755.
Baporikar, N., 2017. Critical Review of Tourism in India. Tourism and Opportunities for
Economic Development in Asia, pp.149-169.
Hadi, D. M., Katircioglu, S. and Adaoglu, C., 2020. The vulnerability of tourism firms’ stocks to
the terrorist incidents. Current Issues in Tourism, 23(9), pp.1138-1152.
Laškarin Ažić, M., Dlačić, J. and Suštar, N., 2020. Loyalty trends and issues in tourism
research. Tourism and hospitality management, 26(1), pp.133-155.
Buckley, R., 2020. Conservation implications of COVID19: Effects via tourism and extractive
industries. Biological Conservation, 247, p.108640.
Hahm, J., Tasci, A. D. and Terry, D. B., 2018. Investigating the interplay among the Olympic
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Mekinc, J., Mawby, R. and Trnavčević, A. N. I. T. A., 2017. Security and tourism in European
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pp.359-385.
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