Global Events Industry: Factors, Impacts, and Strategies

This report provides a comprehensive overview of the global events industry. It begins with an introduction defining global events and their segmentation, followed by an examination of the industry's diversity, structure, and the roles of various event types such as sports, community, and mega-events. The report then delves into the factors influencing the development of the events industry globally, including socio-cultural factors, demand, and motivation for different event types, particularly in the context of the London Excel Exhibition Centre. Furthermore, the report evaluates the value, impacts, and legacies of global events on the environment, including physical, social, cultural, political, tourism, and economic impacts at national, regional, and local levels. Management strategies used to support responsible event development, such as corporate environmental management models and balanced scorecards, are also reviewed. The report concludes by highlighting the vital role of the event sector in economic growth and the importance of strategic planning for event success. The report also includes SWOT analysis, although the specifics are not detailed in the provided text.

Global Events
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Contents
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................4
TASK 1............................................................................................................................................4
P1 Examination diversity of the global events industry along with its structure and
organisation & the role of various types of events in society......................................................4
P2 Explain the factors that have influenced the development of the events industry globally...5
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INTRODUCTION
Global events is defined as a physical phenomenon that take place for a particular time
period at a global level. Events mainly take place on the investments done via public & also
develop a huge influence over population by developing an environment which is favourable. In
the present scenario, it has been found that event industry is segmented on the basis of age group,
revenue source, region and many more (Cheng, 2019). Along with this, such industries are also
carry variety of sub-sections which are music concerts, festivals, corporate events, sports event,
seminars, conferences and many more. London Exhibition centre organise all types of events at a
global level which is one of the reason of its success. The report will cover diversity of global
events along with the types of event. In addition to this, there is a discussion about factors that
impact on the event industry. Moreover, various management strategies were developed that is
used to support for range of global events. There is also discussion of negate and positive impact
in macro environment factors on global events industry. In the last, SWOT analysis is conducted
for a particular event in order examine and assess criteria for successful planning of events.
PART A
TASK 1
P1 Examination diversity of the global events industry along with its structure and organisation
& the role of various types of events in society
In the global event industry, it is analysed that there are various types of events which
majorly take place and these are sports event, community events, mega events, hallmark events
and many more. All such events are discuss below:
Hallmark events: It is consider as one of the important events which mainly take place in
order to create awareness at marketplace. In addition to this, it is analysed that such events are
developed for short span of time and also conduct to create awareness as well as improve appeal
of tourism destination.
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Local or community events: This events are basically planned gathering which is
conducted on public property and involve 50 people and more than it (Hédouin, 2020). The
examples of local and community events are parades, demonstrations and many more
Sports Events: These are those events that take place among people, machines. Herein,
the competition is made and individuals perform various activities such as game, contest, race
and many more.
Mega events: This events are one of the big events that involved million of people visit
and also include high cost as it is expensive to conduct (Xie and Lin, 2018). Olympics,
Edinburgh festivals are some of the example of mega events.
Structure of event industry:
There are various range of events which are hosted by various companies, local
government and many more. Some of the examples are Harrogate international festival and
Glastonbury festival. Apart from this, some of events which are particularly run by special teams
in big events where the structure which has been followed by organisation are matrix, functional
and many more. In addition to this, there are other corporate events which are organised by in
house event teams and herein the structure us vary as per the time and situation as well.
Suppliers of event industry: The suppliers such as sound production, catering and
entertainment. All this are important suppliers network which make an event successful.
Venue: It is defined as an era of a particular event wherein management associated
components emphasis on various parts of marketing venue (Lash, 2019). some of these are
galleries, theatres, libraries and many more.
Industry association: It is determined that event industry is rising rapidly and is
continuously develop professional associations. Herein, number of factors help events to stay
engaged with event industry in order to satisfy customer requirements in an appropriate and
effective manner.
Role of events in society:
• One of the main role that events play within the society is increase awareness of people
about a particular topic that enhance knowledge and understanding of person living in
societies.
• The primary role that came in front of public events deals with interest and attitude of
people and contribute a part for welfare of societies.
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P2 Explain the factors that have impact on the development of the events industry globally
It is stated that commercialisation of celebration needs a proper investment in order to
participate & also carry range of factors such as traditional festivities. There ae various factors
impact on development of global industry which are as follows:
Event history & socio-cultural factors: The factor such as demographic, culture and
many influence both negatively and positively on the performance and profit of event industry.
With reference to London Excel exhibition centre, it is needed to create awareness in context to
culture, belief of people, public issues and so on as it assist company to gain insight about
development relation knowledge in context to socio-cultural factors which in turn is beneficial
for growth and development of UK economy (Maqsood, 2020).
Demand & motivation for different type of events: From the last decades, it has been
analysed that events play a significant role for motivating and event industry. By conducting any
form of events, an organisation is able to know about market trends, taste of customer and many
more which impact positively for the planning. In addition to this, it is determined that
industrialisation events mainly raise motivational factors that influence audience such as social,
economic, culture, personal and many more. In context to London Excel exhibition centre, such
factors will assist in gaining high profit, market share within short span of time and also improve
financial position.
By analysing the above factors, it is said that such factors carry high influence on event
industry and organisation such as London Excel exhibition centre. It is determine that failure into
consideration of such approaches lead company to face issues such as sustain in market for
longer time, improvement in profits and so on. Therefore, it is important for an organisation to
involve all such factors in order to attain effective as well as best position at marketplace.
TASK 2
P3 Evaluation of value, impacts & legacy of various range of global events on the environment
in which they operate
There are various events that are conducted by companies and affect directly on the
environment. It is analysed that business entity require different types of resources for making
the event successful. It is essential for event companies to undertake all the factors and values
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that impact environment. The various events which are conducted by companies along with their
impact is mentioned below:
Physical and environment impact-: It involve elements such as transportation,
communication services and many more. It is analysed that it include positive influence as it
facilitate convenient as well as easy transport for public at one place to another (Nissenbaum and
Shifman, 2020). On contrary, it affect negatively on environment by developing air pollution,
noise pollution which has negative impact on health of people.
Social and cultural impact-: Events play a significant role which has positive influence
on society as it allow people to interact and communicate to other people living in societies. In
addition to this it also assist in gaining knowledge about culture, values, beliefs and traditions of
other people. It is important for an event industry to focus on fulfilling the requirement of people
by considering their culture as well as values. On contrary, it is analysed that cultural events
affect negatively and develop issues for people who have rude behaviour and has introvert
personality. Furthermore, it also develop conflicts when viewpoint and perception pf people does
not match on a particular thing.
Political impact-: It is determined that events are also affected by political factors such as
political stability, norms, rules and regulations, policies and many more. There are many events
which are conducted by companies in different counties & for this, it is important for event
industry to follow all the laws and policies where the event is host (Renssen, 2018). Along with
this, it develop positive influence as it develop reputation and enhance the profit of company. On
contrary, it has negative influence also when all the norms and policies is not followed properly
company as they are imposed with penalties.
Tourism and economic impact-: It is determined that events develop various number of
opportunities for tourism sector which has positive influence on economy growth. In addition to
this, the industries conduct event which is not advantageous or beneficial for tourism sector but
develop employment opportunity. It is analysed that conducting event on another place consist of
high risk associated with brand image and many more.
Along with this, there are many factors which contribute directly to economy at various
levels:
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National level-: Global events is broad in nature & is conducted on a big level in
different countries which impact positively on economy contribution. In addition to this, it
increase foreign investment & also raise current exchange level which is effective for economy.
Regional level-: It is analysed that events which are conducted at regional or state level
impact on economy as it increase collection of domestic tax that act as a revenue for economy.
Local level-: There are various events implement by business entity within their
surrounding and influence economy at a local level. In addition to this, it raise employment
opportunity and also maximise the use of resources.
Event legacy
Impact on stakeholder- It is defined as those events which are executed by various
stakeholders such as investor, organiser and many more. such type of events get successful when
it attract large number of people and assist company to gain profits (Werner, Wang and Gray,
2018).
P4 Review management strategies used to support responsible event development for a range of
global events
There are different management strategies that can be adopt to support event development
for various events which are as follows:
Corporate environmental management model: This model involve the association of
obligation to harming the indigenous habitat. It help in enhancing capabilities which is useful in
developing the methodology at the time of entering new market, social prerequisites and many
more. Along with this, Along with this, it include estimating impact of climate &on occasion
towards the obligations.
Balance scorecard: It is undertaken as one of the effective management which help event
organisation to make improvements in their performance level in an appropriate and effective
manner. Along with this, it help in estimating and giving input to business entities. Furthermore,
it include information which give quantitative result & also help in dealing with diverse business
environment. It is analysed that balance scorecard break down all targets & objectives into
various forms of exercise (Xie and Lin, 2017). Moreover, it is advantageous in surveying
presentation of events.
Furthermore, government perceive as a significant function in occasion like Expo’s,
gatherings which is mainly devoted with the consent of government. Moreover, the government
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assumes liability for political occasions & are led by administration which has positive impact
such as social incorporations, identity & many more.
PART B
TASK 3
Covered in PPT
TASK 4
Covered in PPT
CONCLUSION
From the above discussion, it is analysed that event sector plays vital role in growth as well
as development of economy whether it is state, local and national level. In addition to this, there
are many types of event which impact on society. It is significant for event industry to analyse
the impact if macro environmental factor on business performance so that effective strategies
were developed to decline negative influence. SWOT analysis is a tool which is used by
companies to examine their strength and current position that help managers to develop
strategies in order to deal with weakness and enhance their performance and profitability level.
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