Comprehensive Analysis of the Global Event Industry: A Detailed Report

This report provides a comprehensive analysis of the global event industry, focusing on its diversity, development, structure, and organization. The report begins with an introduction to event management and the definition of global events, using the ExCeL exhibition center in London as a case study. The main body delves into the diversity of the event industry, categorizing events by size, form/content, and location. It then explores the factors influencing the industry's development, including changing consumer demand, economic contributions, and government support. The report evaluates the key factors influencing the development, structure, and organization of events in society, the impacts and legacy of global events on the environment, and management strategies used to support responsible event development, including Corporate Environmental Management (CEM). The report concludes with a summary of the key findings and a list of references.

GLOBAL EVENT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
P1 Diversity of global event industry ........................................................................................3
M1 & D1 Evaluate the key factors that have influenced the development, structure and
organization of the events in society...........................................................................................5
P3 The value, impacts and legacy of a range of global events on the environment...................6
P4 Review management strategies used to support responsible event development .................6
M1 & D1 Critically evaluate the specific management strategies used by the events industry
to support responsible event........................................................................................................7
Part B...............................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Event management can be determined as an application of managing a project to the
creation and development of festivals, events and conferences. Global events can be defined as
events which are being taking place globally, these may be any type of events which have a
global cause. Present study is based on ExCeL exhibition centre which is based in London, UK.
Further this report involves diversity of global event industry with factors influences their
development. Lastly, this report comprises an analysis of macro and micro environment which is
being used to determine the factors influencing decision making of global events.
MAIN BODY
LO1
P1 Diversity of global event industry
Event industry is the industry which looks at managing, planning and organizing different event
locally or even globally. Event industry has seen good growth in last couple of decades the
reason behind is the changing preference and taste of the customer in the market. The another
main reason is the diversity which has been brought by the event industry globally (Bouchon,
Hussain and Konar, 2017). Diversity of the event industry can be better understand with the help
of dividing the event on different basis:
On the basis of Size
Local Event: This are the event which are organized at a small level such as graduation
ceremony, local festival etc. Generally the audience attending the event used to come from the
local market itself. These are the event which are small in the size but these type of the event
generally occur on the regular basis.
Major Event: Major event is the event which used to be organized at a bigger level in which the
number of the participant is large as compare to the Local. This event bring significant economic
benefits to the cities and regions in which they are hosted. This economic development also
includes significant participation from private sector entrepreneurs.
Hallmark Event: Hallmark Event is the event which is organized with keeping international
status with it. The main role of this event is to provide the local community or the host
community with an opportunity to secure high prominence in the tourism market place. This
event can also be organized on global level. Olympic is the example of global Hallmark Event
(Caputi and et.al., 2016).

Mega event: This are the biggest of all the event. This event generally used to occur once in the
time span and are generally organized by specific authority and used to yield the customer from
all around the globe. Different sporting world cup are the big example of mega event.
On the basis of form or Content
The event which has been describe in above section are organized for the specific purpose on the
basis of the form or content. Some of the common content on which event are organized are
Cultural event in which the event used to represent a specific culture of any location which
shows the texture of specific culture music, dance or art. Sports event the event which highlights
the athletic activity which is governed by the different rules and regulation provided by
nationally recognized sanctioning body. Business event is the another form of content which
looks at launching new product in the market or to organize different conference and meeting.
On the basis of location
Technology also has a good effect on the global event industry as it has helped the event industry
in increasing the diversifying their service as ow days the event are organized on the phones with
the help of different conference app this event are known as Mobile Event. The event which are
organized at the different location by taking a place such as garden, ground or auditorium are
known as Place Event (Corallo and et.al., 2019).
Structure of the Global Industry
Organizing a event is not just one individual or one institution task it is task which requires a
contribution from the different organization and individual which forms a proper structure for the
global event.
Event organization: This are the firm which generally used to be in touch with the client and
used to take the responsibility of organizing event.
Event Management companies: This are the firm which are generally used manage the activity
of the event starting with planning the event, coordinating the activity and organizing the event
and supervision all the activity at location.
Venue: Venue is the place where the event will be organized by the Event management
company.
Supplier: Supplier are the party which generally used to provide the services to the event
management company. Services includes raw material, furniture and lighting services etc.
P2 factors that have influenced the development of the events

Demand and motivations for different types of events: This is the biggest factor which has
influenced the development of the event industry in the last couple of years as the event industry
has diversified their service which has affected the demand and motivation of the consumer to
organize event at a bigger level. This has result in increasing the number of the global event
which has played a crucial role in event development at global level but at the contrasting note
this has affected the local event as consumer are more motivated are having the demand to
organize a global event as compare to the local event. Generally business event are the event
which are more motivated to organize a global event as it helps them in getting world wide
attraction (Devine and Devine, 2017).
Value and contribution of events to the global economy: Event has also contributed very
significantly toward the growth of the global economy as the event organization industry is one
industry which has helped the economy in attracting the foreign money in the economy. As
organizing a global event demands a foreign currency from the client. This has helped the event
industry to get support from the government at global which has subsequently contributed
toward event industry development. The contribution to the global industry has also helped the
event industry to grow at local level also as the community of the country as many organization
and individual used to give the touch of the culture in their business meeting which has helped
the company in showing the culture in which organization used to work and sometime prove
crucial in cracking the global deals.
M1 & D1 Evaluate the key factors that have influenced the development, structure and
organization of the events in society
Change in demand and motivation for the consumer: It is the biggest factor which has
influenced the development, structure and organization in event industry as there is huge demand
in the consumer about the concert and event in the market which has influences the development,
structure of the organizational industry. As it has forced the company to broad down the structure
of the company by looking at more outsourcing company to perform the activity. It has also help
the company in influencing size of the event as more consumer are interested in participating in
the event. This factor has helped the society in increases the quality of life of the people in
Society.
Government Support: It is another big factor which has helped the event industry to see a good
development as host country government always supports the global event in their country as

organizing the event in the country helps them in showing the culture to the guest. It also helps
them in promoting the infrastructure of the country to the outsider. Which eventually helps in
attracting tourist, inviting global trade etc.
After going through the data related to the event industry of 2019 and using summative
evaluation technique to evaluate the data it was found that the Finance was the factor which has
shaped the event industry as in the past event industry was not able to attract the finance which
was desire but in the last decade it has able to attract the finance as in the year 2018-19 the UK
events industry is worth over £39.1bn, up from £36.1 bn. The spend represents 35% of the total
value of the UK visitor economy (Data related to Event Industry, 2019). Another big factor is the
increase of interest of consumer in the market about the event industry as there are 530,000
people who are being employed by 25000 event business in the UK. This has helped the society
in lowering down the rate of the employment in the UK (Data related to Event Industry, 2019).
LO 2
P3 The value, impacts and legacy of a range of global events on the environment
Every factor which has influenced the event industry in the UK used to have a different both the
negative and positive impact on the
Social and cultural: Event has limelight the value of the social and culture of the host country
as event helps the country in promoting the value of the culture of the host country. It has also
helped the environment in teaching the coming generation about the culture in which has been
followed by ancestor so that they can carry the same forward. At the same time event has
impacted the Social and culture in the country as the number of western events are more in
number as compare to cultural event which proves as a hurdle in promoting the culture and
sociality (Mallen and Adams, 2017).
Tourism and Economy: Event has contributed very significantly toward the development of the
tourism as global event is able to attract the audience from the different region which has
eventually impacted the tourism in the country which has contributed very positive toward the
development of the economy as with the help of the event company is able to collect the foreign
money in the host country. Event also has a impact on the travel and Economy is that consumer
of the underdeveloped country find it difficult to organize the event in the developed economy as
it requires a huge amount of finance which eventually affects the financial position of the
country.

Political: Event also has a significant impact on the political relationship of the country as it help
the host country political party to represent the country in front of the other country political
party in very presentable and promoting the current situation very easily. Event has also
impacted the political condition in the country as event used to increase the cost of expenditure
for the country.
P4 Review management strategies used to support responsible event development
Review management strategy used to play a very crucial role in development of the successful
event in the organization as it used to give the many benefit to the organization. Their are many
type of the technique which is used by the organization such as:
Corporate environmental management: CEM is the model which explains the organization
how to address the environmental and natural resource issue, while promoting the shareholder
value and linking the firm market objective of the environment. This has helped the business in
successful organizing of the event as there are many environmental and natural issue which used
to occur at the time of organizing the event which proves as a big difficulty for the event
common environment and natural issue are lightning, rain (Müller, 2015). By the help of this
model the organizing company used to take the precaution before hand itself. CME also help the
organization in finding the solutions to environmental and resource problems as they are
advantageous, property rights and other institutions necessary for these market outcomes to
occur. These model requires interactions among stakeholders including management and
employees to politicians and non-governmental organizations which help the organization in
getting all the information related to the unconditional situation of event.
Balance scorecard: Balance scorecard is a framework to implement and manage strategy. It
links the vision to strategic objectives, measures, targets, and initiatives. It balances financial
measures with performance measures and objectives related to all other parts of the organization.
In simple word it is the strategy which looks at how effectively the strategy of the management is
implemented at the event. This strategy can help Excel in reducing the gape between what is
expected and what is achieved by the organization as it is easy to find out the deviation in this
strategy which can prove crucial in organizing the event easily. It will also help the Excel in
understanding and satisfying the customer need.

M1 & D1 Critically evaluate the specific management strategies used by the events industry
to support responsible event
Generally event organization used to used the Business level strategy as a fundamental strategy
to organize the event in the organization. Excel also can use this strategy as the biggest
advantage of this strategy is that it looks at the competition as a concern and as in today's era
there is good competition in the event industry. These strategy is explained with the help of 3
concept which is cost which explains that the organization should offer the services at the
minimum rate possible. In real also all the organization always try to offer their service at
minimum rate at both local and global level. Differentiation in which organization always try to
bring something new which has not been brought by anyone in past. Focus is the last concept
which explains that the event company should look at market size if they have to survive in
competitive market (Spracklen and Lamond, 2016).
Part B
Covered in PPT
CONCLUSION
From the present study it can be concluded that event management is an essential process which
is to be performed in a significant manner in order to achieve the desired objectives from the
events. Further this report concludes that events can be categorised into three segments which
includes size, form and content. Lastly this report concludes that macro environment factors can
be determined with the help of PESTLE analysis and micro environment factors can be
determined with the help of SWOT analysis.

REFERENCES
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Online
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Devine, A. and Devine, F., 2017. A Strategic Approach to International Event Tourism.
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<https://www.eventmanagerblog.com/event-statistics>.