An Evaluation of the Global Event Industry: Factors and Strategies

This report provides a comprehensive analysis of the global event industry, examining its diverse forms, structure, and key components. It delves into the factors that have influenced the industry's development, including cultural, technological, and sociological aspects, with specific reference to the London ExCeL Exhibition Centre. The report evaluates the impact of global events, assessing management strategies used to support responsible event development and critically assessing the environmental impacts at different levels. It highlights strategies such as SEO and affiliated marketing tactics, while also evaluating the values, impact, and legacy of global events. The report emphasizes the importance of sustainable event planning and provides insights into the role of events in society, including employment generation and cultural awareness. Overall, the report provides a detailed overview of the global event industry, its challenges, and its opportunities.

Developing Destination-Specific Events-

Contents
INTRODUCTION...........................................................................................................................1
PART A...........................................................................................................................................1
Diversity of global event industry...............................................................................................1
Explain the factors that influenced the development of event industry.......................................3
An evaluation of key factors that influenced development, structure and organisation of event
industry........................................................................................................................................4
An evaluation that shows values, impact and legacy of global events........................................5
Review management strategies used to support responsible event development........................5
Critically evaluate specific management strategies used within event industry to deliver
responsible events........................................................................................................................6
Critical assessment of impact of global events on different level of environment......................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Global events are performed as well as conducted at international level. Moreover, it is also
controlled and managed through events professional. This event are performed for limited period
which has a global reach, essential public investment as well as has a direct affect upon
population and also developed atmosphere (Koinova, 2020). It is a kind of event basically
focuses upon organising exhibitions as well as conferences through performing with well known
organiser so that crucial information of various events may be share at huge level. This report is
performed on London’s ExCeL Exhibition Centre which are already hosted several global
events. The topics that are going to be discussed in this report are various kind of events, various
factors that influence several international event growth. Moreover, the affects of event upon
atmosphere accountable for event development are described. Apart from this, the macro
environmental impact upon decision making procedures of business performed at international
level are also discussed in this report.
PART A
Diversity of global event industry
Events are considered as practices of bringing audiences at one area upon particular
duration to deliver something. This incorporates several factors to undertake like sponsors,
budgets and others needs planning, organising, budgeting as well as implementing in appropriate
and effective way. Moreover, there are various level at which events are conducted with having
distinct goals like national, global and local level (Moreno and Møller, 2020). These whole are
controlled and organised through professional that is also known as events administrative. Some
of the explanation of several kinds of events which brings diversity are as follows:
Forms of events by size
 Major events: This is defined as an event which are organised at huge level with intent of
attracting huge number of visitors. These events are conducted for delivering the
information associated with an event to all. Moreover, these events are performed at both
the level global and national.
 Local or community events: This is defined as event which are performed at smaller
level wherein community individuals are invited for attending it. Moreover, it is also
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organised at shorter time duration because of which not any services related to
accommodation are require to be controlled through organisers.
 Hallmark events: This is considered as events which are performed for promoting the
areas with an aim of attracting huge visitors. Such as Central London fireworks, New
Year eve and others. These forms of events are also called as a attribute and spirit of town
culture and many more.
Forms of events by content
 Music events: Within respective event, the participants’ participation level is much
higher as well as they are full of enthusiasm (Qie and et. al., 2020). Moreover, this is
generally performed with ability of huge customers like EDM, hiphop and others.
 Sports events: This is considered as event which is undertaken as physical events as this
maintain direct upon concentration upon non participants as in types of entertainment.
Such as IPL, Olympic and many more which is generally performed for above month.
 Trade events: This regarded as event which is performed whole developing partnership
among suppliers, clients, dealers and many more. For performing some these events such
as presentations, conferences, seminars and others as this also assist to perform external
marketing wherein whole related persons are invited.
Event industry structure and components:
 Event management firms: Within this kind of firms, it undertakes whole their
accountability for managing as well as planning various set of practices which is
undertaken as event part. Along with this, it has also assures that smooth services flow is
processed with excellence through that every standardised activities are accomplished at
time basis. Also, this includes several events such as wedding, cultural and others.
 Location: This states the areas in which event is performed or organised in professional
way. moreover, this is also an accountability which is played through event entity where
they has determines the accommodation services, capacity, attendees number and other is
addressed and thereafter effective places is adopted (Rutberg and et. al., 2020).
 Suppliers: These are also considered as much crucial element within event sector as well
as it has maintain clarity interactions as well as coordination with suppliers as it assures
that appropriate supply of vital inputs is processed along with excellence. This is also be
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crucial as material and techniques as accessibility is managed so that event is performed
with sustainability. Such as catering, sound system, marketing agencies and many more.
Role of various events into society
 This develops a specific awareness level wherein individuals educated as well as learned
regarding few particular topics. Moreover, this is also being utilised for generating clarify
understanding regarding particular culture, traditions and beliefs which accumulate unity
into society (Turner and et. al, 2020).
 Within event process, the employment rate is enhances as much as individuals get
accumulated at specified areas. Along with this, local sellers also obtain opportunity for
gaining much earnings. Whereas on other side, this is only get promoted when managers
of event seek their accountability towards betterment of society.
 The event performance enhances enthusiasm as well as assists to formulate stronger
network of working wherein huge number of person develop its visit and get accumulated
at places. Into this, appropriate relationship is formed among various people through
whom healthy culture is promoted.
Explain the factors that influenced the development of event industry.
Any successful event is mainly based upon various factors which accumulatively formed
accomplishment of event in simplest way. Moreover, this have both optimistic as well as
pessimistic affects which is described underneath:
 Cultural factors: This is regarded as the factors which are utilised while developing
effective analysis of several person as well as their attributes which is crucial for an event.
Moreover, this has direct affects upon visitors’ numbers which undertakes valid
participation into event. The London’s ExCeL Exhibition Centre have direct affects upon
event planning as within it food and others are organised based upon visitors sustainability.
Such as in case much visitors are from Italy then Italian cuisine is arranged.
 Technological factors: This is regarded as the factors which is constantly enhancing as well
as provides effective growth to business in respect of enhancement. In context to event
sector, technology is always plays vital role as this minimises the overall task
accomplishment time duration along with sustainability (Valaskivi and et. al., 2020). This
incorporates trade exhibition, creativity and innovation into cultural events which is key
aspects while grabbing the attention of huge visitors. In context of London’s ExCeL
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Exhibition Centre, they utilise various techniques as well as tools which aids them in
performing event into marketplace. Also, advance technology adoption provides an edge
into event sector within their international expansion of business which outcomes into
highest sales and developed reputation of brand.
 Sociological factor: There are mainly three ways which highly have affects upon event
sector development. The initial one is diversity; it could not be much effective for event
industry according to which every people into event sector have distinct backgrounds. Such
as because of lack of diversity within respective sector, this is directly affecting both person
one who attending event and other who want to visit there. The other way is social media; it
had become a game changer when this comes towards seeking out to targeted clients. It have
affirmative affects into event sector development. With assistance of social media, event
sector may simply reach out potential audiences. Trend is considered as third way which is
crucial for event sector for creating awareness about ever changing fads. Thus, these are
crucial ways of sociological factors which impacts upon event sector development.
An evaluation of key factors that influenced development, structure and organisation of event
industry.
The above discussed whole factors have direct affects upon structure, development and
firm of event sector. Technological factors aids respective sector in accomplishing of practices as
well as activities at minimal period and in appropriate way (Weber and et. al., 2020). Moreover,
there are various advantages of technological factors for event sector like it is cost effective, save
time, effective communication and others. While sociological factors are also advantageous for
this particular industry in differentiate manners like maximised society sprite, developed
competencies of residents and others. Thus, both factors have affirmative influences upon
growth, structure and entity. It will aids firm in creating optimistic and appropriate structure of
business.
There are several roles that are played through event sector for societal welfare. These are
employment providence, developing level of education, poverty and others. These are important
for society. They role played through event industry aids society through enhancing individuals
living standards, rendering employment. It is the key role which be vital or society.
Critically evaluate key factors that influence and shape the event industry
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There are several strategies which should be obey through event organiser for using as
well as organising international event in appropriate way. Moreover, there are several reasons for
performing event at global level like develop leads, maximise brand awareness, improve
relations with visitors and others. There is also needs for developing SMART goals which turn to
assists them in accomplishment of competitive edge at lesser time duration as well as in effectual
way. There are few techniques which will influence and shape event sector. These would be
described underneath:
 SEO: Respective techniques would aids event sector in gaining many audiences. This
will enhance trafficking of websites and also helps them to obtain various leads which are
most interested in hiring an event planner. Thus, it is effectual as well as vital techniques
which influenced as well as shaped respective industry in well defined and successfully
way.
 Affiliated marketing tactics: It is considered to be other and vital techniques which
support event sector in rendering effective information regarding various events to
audiences. Moreover it will aid to grab the attention of huge potential visitors which
outcomes into higher sales as well as developed brand reputation. There are various
strategies of affiliated marketing which demand instant attentions like use email
marketing, leverage pay-per-clicks and many more. Also, these tactics would be essential
as well as helpful for event sector into their development and growth.
An evaluation that shows values, impact and legacy of global events.
Planning of sustainable event incorporates preferences, concepts as well as potential values
which aids to develop vital value amongst whole stakeholders and also helps society
consequently (Westerhold and et. al., 2020). In addition to this, it will aids into minimisation of
pessimistic affects upon event sector through observing as well as monitoring the chances of
errors. Also, this is also crucial in formulating effectual atmosphere.
Review management strategies used to support responsible event development
There are numerous strategies that are utilised for supporting an event with intent of
performing this event much effectively and efficiently. As there are various reason behind
performing an event that involves enhancing brand awareness, develop relation among firm as
well as audiences and many others. Therefore, entity within event sector has to formulate
SMART objectives with assistance of utilising key performance indicators for measuring
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success. Also, the other tactics that event firm may utilise for preparing budget as well as
delegate funds in distinguish practices based upon its effectiveness as well as roles so that capital
may be used in an optimal way. in addition to this, utilisation of digital media also renders much
supports to an events as present various individuals are active upon digital platforms on daily
basis so advertising an event in such platform aids to bring awareness among general people
related to organising an event. Such as organising multinational event like Olympics or FIFA
requires to obtain support from digital platform like using social media s well s print media
because this produce enthusiasm within people as well as enhance participation of audiences.
Along with this, government also focus to develop join partnership in order to formulate tactics
as well as invite people in effective and efficient way.
Critically evaluate specific management strategies used within event industry to deliver
responsible events
Management strategies may be utilised through entity involving stakeholder theory which
renders them chances to attain success with optimal usages of resources. Moreover, this can be
less effectual as this have been highlighted through individuals that staff are not much interest to
utilising those goods which are manufactured through its own firm in comparison to perks taken
by them from entity, the internal resource utilisation are not so showy in comparison to
performing trade fairs as well as societal events for promoting them by campaigns, respective
approach needs higher staff value to sale out goods within their stakeholders, rather than
distributing into open marketplace (Zscheischler and et. al., 2020). As the key intent of entity is
to perform for higher profitability that is not much probable whilst performing as per stakeholder
theory, network exploitation can be helpful or reaching to board populations as open economy
allows forces of market to perform into direction of more customer satisfaction. On other hand,
external stakeholders are limited into numbers as well s can feel scattered in case the goods is not
much impressive, so this is very feasible for reaching out to new targeted audiences instead of
product exploitation with similar corporate customers. Additionally, there are huge numbers of
rivals that are performing into limited appropriate marketplace with lower quality goods that may
be simply breakdown y awareness related to effective product quality. Moreover, respective
theory may be only helpful when there is overall impasse within innovation market s well as
stakeholders would be provided importance as its loyalty towards their audiences. So, the
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stakeholder theory may be advantageous when unique techniques are limited and customers may
be attracting with availability upon the basis of choices.
Critical assessment of impact of global events on different level of environment
The huge level events are conducted for massive impact of individuals, resources as well as
local communities upon atmosphere and external surroundings upon which the function of
business are performed. Thus, there are primarily few events which has unfavourable impact
upon atmosphere due to additional usages of resource which drives towards carbon emission.
CONCLUSION
Based upon the above report, it has been concluded that international level is performed at
higher level within which attention of huge people is obtain. Moreover, in this event professional
plays crucial role as well as accountabilities and also assure that effectual usages of resources are
processed in systematized way. Also, various forms of events is performed which induces
effective advantages in respect of economical, social and cultural basis. Along with this, many
managerial strategies are formulated which develops appropriate control upon development of
event.
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REFERENCES
Books and Journal
Koinova, M., 2020. Critical junctures and transformative events in diaspora mobilisation for
Kosovo and Palestinian statehood. Journal of Ethnic and Migration Studies. 44(8).
pp.1289-1308
Moreno, J. and Møller, A. P., 2020. Extreme climatic events in relation to global change and
their impact on life histories. Current Zoology. 57(3). pp.375-389.
Qie, W. and et. al., 2020. Global events of the late paleozoic (early devonian to middle permian):
a review. Palaeogeography, Palaeoclimatology, Palaeoecology. 531. p.109259.
Rutberg, H. and et. al., 2020. Characterisations of adverse events detected in a university
hospital: a 4-year study using the Global Trigger Tool method. BMJ open, 4(5).
Turner, S.K. and et. al., 2020. Persistence of carbon release events through the peak of early
Eocene global warmth. Nature Geoscience. 7(10). pp.748-751.
Valaskivi, K. and et. al., 2020. Traces of Fukushima: Global Events, Networked Media and
Circulating Emotions. Springer.
Weber, K. and et. al., 2020. Policy pragmatism: Qatar and the global events circuit. International
journal of event and festival management.
Westerhold, T. and et. al., 2020. Global extent of early Eocene hyperthermal events: A new
Pacific benthic foraminiferal isotope record from Shatsky Rise (ODP Site 1209).
Paleoceanography and Paleoclimatology. 33(6). pp.626-642.
Zscheischler, J. and et.al., 2020. A few extreme events dominate global interannual variability in
gross primary production. Environmental Research Letters. 9(3). p.035001.
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