Global Events: Industry Structure, Impact, and Strategic Analysis

This report provides a comprehensive analysis of the global event industry. It begins by defining global events and their significance, then delves into the industry's structure, encompassing various event types like sports, business, and local events. The report examines the roles of event managing companies, venues, and the broader event industry. It explores factors influencing industry development, including tourism, transport, and social media. Furthermore, the report assesses the values, impacts, and legacies of global events, including their economic, social, and political effects. It also discusses strategies for measuring event impacts, such as the balance scorecard and environmental management models, and highlights the role of government in the industry. The report concludes by emphasizing the global events' contribution to national economic growth and their multifaceted impacts.

GLOBAL EVENTS

Contents
INTRODUCTION:..........................................................................................................................3
PART (A).........................................................................................................................................3
TASK 1............................................................................................................................................3
P1. To determine the global event industry which includes structure, company and role of
various kind of event within the society......................................................................................3
P2. Explain the factors that influence the development and the progress of an event industry
globally.........................................................................................................................................4
TASK 2............................................................................................................................................5
P3. Assess the values, impacts and legacy of global events........................................................5
P4. What are the different strategies used to measure the impacts which are responsible for the
development of an event?............................................................................................................6
CONCLUSION:..............................................................................................................................7
REFERENCES:...............................................................................................................................8

INTRODUCTION:
The global events can be explained as the events of a limited time which have a global approach,
it needs a significant public investments and have the potential to influence the audience and to
create a better environment. The events generally defines itself as a gathering or uniting people at
one place at a large and global event industry or at those associations which operates the events
at an international level. It is quite expanded industry which is composed of different types of
events like the formal events, business events, social and cultural events and so on (Rogers,
2013).
PART (A)
TASK 1
P1. To determine the global event industry which includes structure, company and role of
various kind of event within the society.
The society has a great role to play for every event industry, in its success and the progress in
any competitive market, and for this the manager of the event need to have focus on the society.
With reference to the London excel exhibition center, it serves various opportunities in a way to
maximize the progress of the event company by producing various events including few fashion
events, music shows, art festivals, dance events, sports events and the list goes on. Now the
diversity, can be explained as the variety of culture, languages, religions, values, beliefs and
more which is managed by an institute in order to capture attraction of a large number of
audiences towards their items and services. Now the global event industry can be diversified
based on its size, structure and form which is listed below:
On the basis of the form:
Sports activities: This is related to all those activities such as the Olympics, athletics and many
more which requires a particular skill and the physical potential in a way to bring out all the

events. There are few rules and policies which are been created by the government which were
necessary for the organizers of the events to follow to attain the competitive benefits (Thomas,
2017).
Business activities: These are related to those activities which are linked with the items and the
services of any business. It brings out with at least a group of 15 people who are willing to
participate in these business activities. By doing this, they are aiming to create a relationship
with these people and to carry them out at one place and along with this promoting on the
product at the marketplace. It involves the seminars, business meetings, conferences and so on.
On the basis of structure and size:
Large events: These are the events which are conducted with the motive of gaining profits for
long course of time. These events are conducted at both national and international levels with the
aim to encourage people with regards to the business. To bring out these events in highlights, the
organizer are require large amount of funds which is then be collected with the help of the
order to stabilize their position in the market place.
Local events: These events are initiated in order to gather the community population at a public
place. They are accessible to everyone and are not discriminated based on the gender, age race
and so on. The main objective to initialize such local events is to encourage people to participate
in these activities which are accomplished at national levels and to produce more and more
revenue for the economic progress of the country.
On the basis of component of the event industry:
The event managing companies: It includes those companies which organize various events and
are force them to operate these events smoothly according to the demands of the customers. the
various types of events which are been initialized by the organizer with regards to the size, or the
form. The social, cultural and the business events come under the management companies.
Venue: is can be explained as the area or the place where the event is supposed to be held. It is
the major component of any event because the success and the progress of that event is
absolutely dependent on it. So therefore it is the responsibility of the organizer to choose suitable

place which capture the attention of large number of people and to organize events on the basis
of the needs of the people for the progress.
Event industry: the large range of companies comes under it. The companies which are the part
of event industry are the reason to improve the economy of the country. The company owners
will host various functions like the promotion, production, fun events and so on (Bladen,Kennell,
Abson and Wilde 2012).
P2. Explain the factors that influence the development and the progress of an event
industry globally.
The event industry is essential towards the improvement and the growth of economy of the
nation which is the responsibility of the event organizer to get the success in events to get good
position at the competitive market. So there are various factors which impact the growth and the
development of an event industry:
Tourism: The tourism impacts the travelling to the UK for lots of tourists as they reach out for
money to be the part of the event industry and the maximizing economy faced by the event
industry sharply recommends that the tourism is helpful in bringing the money in to the business
as well as to the economy, so if there is no tourism the economy will consequently fall off and
will also results in sharp falloff in organizations like the hotels, airports and other businesses.
Transport: The transport is another major factor impacting the event industry as there is enough
availability of transport. Few of the event companies directly deals with the individuals who can
pay for a ticket. The defence and the public transport sector for the games influence the ticket
sales because people are receiving the direct transport to the entire games which means
increment in income through the public transport because of the large events which are being
organized which results in higher use of transport (Courty, 2015).
Social media: It is a great influence on the event industry because of the information which are
being updated and published for the events to maximize the information regarding the on-going
events to the individuals. In social media the most essential and effective means of promotion
can be the Facebook and Instagram, from these two means of social medial, large number of
population will get aware about the events venue, price and the type. In addition to this, it also

helps the event organizers to produce the revenue which will further contribute to the country’s
in progressing the scale of the economy.
TASK 2
P3. Assess the values, impacts and legacy of global events.
The main objective of initiating an event is to raise the profitability and the efficiency, image,
celebrity and community cause among the people. It includes all the concepts of lives whether it
is associated with social, cultural, political or economic. The advantages of helding these events
is to possess the growth and the success at marketplace of an event industry. There are few
impacts of the global events listed below:
Impacts of events: The events provide greater economic sustainability to the hosting city and
raise its bar by providing employments through the raised tourism strength, extra trade and the
business progression. Along with this it can be discussed that there are effects including the
increase in investment, extra money are provided for the local infrastructure and long lasting
promotional advantages are been generated. In addition to this, there are more benefits including
the improved revenues of tax and raised property prices. Moreover the organizers of events are
more focused on the financial impacts of events. It is essential for the event organizers to ensure
this potential condition and to determine and manage both the negative and positive impacts. The
events serve the host cities with good amount of economic resources, which can result in lasting
legacies for the local people out there. So therefore, the local businesses are quite dependent on
the large mega events and the festivals to increase their annual income (Leetaru and Schrodt
2013).
Long term legacy of the events: For example if there are demands which is related to the
Olympics which is to be satisfied, then the resources are needed and few of these resources cab
be preserved for other uses. Moreover the demands which are been associated to the Olympics
obtain the resources which would not be used later on, like the labour resources then they will
most likely add to both employment and the final outcome of the economy. Types of legacy are
listed below:
Sporting: this is the introduction to the diversity of various sports held in a given area.

Political: it is the potential for the progression in the education. It promotes the Olympic games
as a cultural aid and also to introduce different cultures in the host country.
Economic: due to the constant elements it is difficult to calculate. It generated long term
advantages to the community by the regeneration ventures.
Social: It creates national pride and the traditions. The long term recognition as a successful
sporting countries (Yeoman, Robertson, Ali-Knight, Drummond, and McMahon-Beatti 2012).
P4. What are the different strategies used to measure the impacts which are responsible for
the development of an event?
The strategies for management in any firm addresses to the tools and the techniques which are
used to manage and direct the path to the business in receiving or gaining the success and
growth. The event strategies addresses to the planning or executing few procedures to gain
success in an event. It covers all the function and the activities. It also becomes essential for all
the event organizers to manage all the activities of events in a medium range. Few management
strategies are discussed below:
Tools and techniques to measure impacts:
Balance scorecard: It is a strategic tool which is used to calculate the performance of activities or
function. It serves the information and recommends the path to choose a proper strategy. In event
industry, it is very difficult to gather data of every specific individual person so at that point of
time this tool is useful for the event organizer in order to get quantitative result for devising
strategies in an effective manner (Qie, Algeo, Luo and Herrmann, 2019).
The environmental management model: This is referring to the role and responsibility of
organizer in the context of saving the natural environment from harming. This model helps the
event organizer in a way to estimate the implications of event on environment through which it
creates potential for maximizing the competitive strategies by responding on social needs.
Role of government: The government of every nation plays an essential role in an event industry
because it becomes vital to take permission for organizing the events at public place like trade
fair, public halls for events and activities etc. The event organizers are needed to follow all the
necessary guidelines of government in order to attain success (Orlowsky and Seneviratne, 2012).

CONCLUSION:
On the basis of above discussion , it has been concluded that the global events are the main
reason behind the success and the growth of any nation and it also contributes to maximize and
improve the scale of the economy of its nation. The event industry is quite expanded and can be
classified based on the size, form, structure and content. All these components play a vital role in
their own in context to the progression and the growth of the event industry. In addition tto this
there are several factor which can provide the information about the event industry in more detail
like the external and the internal components which affects the events and so on. Also along with
there are several tools and techniques which are helpful in producing the effective and productive
business strategies which will help the firms to understand the organizational objective in a short
course of time.

REFERENCES:
Books and journals:
Bladen, C., Kennell, J., Abson, E. and Wilde, N., 2012. Events management: An introduction.
Routledge.
Courty, P., 2015. Pricing challenges in the live events industry: A tale of two industries. Sport &
Entertainment Review, 1(2), pp.35-43.
Leetaru, K. and Schrodt, P.A., 2013, April. Gdelt: Global data on events, location, and tone,
1979–2012. In ISA annual convention (Vol. 2, No. 4, pp. 1-49). Citeseer
Orlowsky, B. and Seneviratne, S.I., 2012. Global changes in extreme events: regional and
seasonal dimension. Climatic Change, 110(3-4), pp.669-696.
Qie, W., Algeo, T.J., Luo, G. and Herrmann, A., 2019. Global events of the late paleozoic (early
devonian to middle permian): a review. Palaeogeography, Palaeoclimatology,
Palaeoecology, 531, p.109259.
Rogers, T., 2013. Conferences and conventions 3rd edition: A global industry. Routledge.
Thomas, R., 2017. A remarkable absence of women: a comment on the formation of the new
Events Industry Board. Journal of Policy Research in Tourism, Leisure and Events, 9(2),
pp.201-204.
Yeoman, I., Robertson, M., Ali-Knight, J., Drummond, S. and McMahon-Beattie, U. eds., 2012.
Festival and events management. Routledge.