Global Event Industry Report: Diversity, Strategies, and Analysis

This report provides a detailed analysis of the global event industry, focusing on the Excel Centre London as a case study. It explores the diversity within the industry, emphasizing the importance of inclusivity and the various types of events, including corporate, personal, and charitable events. The report examines factors influencing the industry's development, such as technology, socio-cultural trends, competition, and workforce issues. It evaluates the value, impacts, and legacy of global events, particularly the Olympic Games, considering their economic contributions and long-term effects on stakeholders. Furthermore, the report delves into management strategies to support event development, highlighting stakeholder support and the balance scorecard approach. It also investigates the macro-environmental factors that influence decision-making and organizational behavior within the global event industry, culminating in a SWOT analysis for successful event planning. The report concludes with a comprehensive overview of the industry's challenges and opportunities.

Global Events

Table of Contents
INTRODUCTION...........................................................................................................................1
PART A...........................................................................................................................................1
LO 1.................................................................................................................................................1
P1 Diversity of the global event industry including structure and role of different types of
event............................................................................................................................................1
P2 Factors that have influenced the development of the event industry globally.......................3
LO 2.................................................................................................................................................4
P3 Evaluation of value, impacts and legacy of range of global events of environment.............4
P4 Management strategies to support event development..........................................................5
PART 2............................................................................................................................................7
LO 3.................................................................................................................................................7
P5 Macro environmental factors that influence decision-making and organisational behaviour
of global event industry...............................................................................................................7
P6 SWOT analysis for the successful planning of event............................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
An event can be defined as all those things that happen in a particular situation which
may be planned and organized occasion. There are different types of event that based on the size
and scope like corporate, personal, charitable etc. This study is mainly based on Excel centre
London that is an international convention centre (Andersson, 2016). It will also show about
Olympic sport event that this centre has hosted and want to host. It was built by Sir Robert
McAlpine and was first opened in the year of 2000. It has hosted several wedding and different
types of events. This present study on global event is going to show the importance of diversity
in the global event industry. There are several reasons which shows the importance and put
pressure on manager of event that why they need to promote diversity. It will also show different
types of event depending on size and content like business event, sports event, personal events
etc. Some factors like social-cultural, global expansion impacts critically in the development of
event industry.
Cultural and international diversity also have both positive and negative impact on the
development of event industry. It leads innovation as well as miscommunication due to different
languages and diversity. Stakeholder support, Balance scorecard, governmental support and role
in developing event industry is the main reason of sales and increased revenue.
PART A
LO 1
P 1 Diversity of the global event industry including structure and role of different types of event
Event can be defined as a planned public or social occasion which is being developed
with the main aim of social gathering. Diversity refers different things and in the context of event
industry and business it means that understanding that each individual is unique and recognize
their individual differences. Some type of differences can be on the basis of age, race, physical
abilities, gender, beliefs etc. For making a global event more successful there is a requirement to
promote diversity by Excel Centre London that is an international and exhibition conventional
centre in custom house area (Chan, 2015). It has already been hosted several public as well as
private events that includes exhibitions, wedding, conference, religious event etc.
Event industry remains dominated by middle class, white and able-bodied men in high
level position. Promoting diversity can be beneficial for both manager of Excel Center London,
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staff and for people who involved in it. By doing this it can also explore its growth and
accomplish its goals as it wants to host an event and understand more about current market.
Diversity can bring up new ideas that can help global event industry in satisfying people
involved in the event.
In the context of structure that plays an important role in global events it can be said that
it includes several components that make an effective structure such as companies, venues, event
management, suppliers, industry etc. Organizational chart and structure of event management is
being defined as follow:
Illustration 1: Event management structure
There are different types of events that are being developed by global event industry like
corporate events, themed events, conferences, sponsorship, trade shows. It depends on the size
and structure. According to the category and content, it is divided into 3 parts such as private,
corporate and charity (Correll and et.al., 2018).
Private events are those which are being used by individuals who can book venues.
Private events like wedding and birthday parties are not diverse as their main purpose is
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celebration. This type of events have a guests list in order to make sure that the event is not
explored to public.
Corporate events are the type of event that are being used for businesses with the main
aim of promoting brand as well as products. This type of events includes: conference, seminars,
meetings, products launchers, business dinner etc. It is also not a diverse event as its main aimed
at business. It is being also developed to improve professional relationship between its
employees that can help in business expansion (Types of events, 2013).
Charity or fundraism type of events are being used to raise money for charity of their
choice. It includes: sports event, charitable auctions etc. This industry is a diverse industry as
anyone can go and allowed to go to a charity venue and contribute to charity event. It also
suggests to organizations that they should contribute in charitable events for promoting
community. By doing so, they can gain a goodwill and improve an effective relationship as well
(Lambert and et.al., 2019).
P2 Factors that have influenced the development of the event industry globally
There are several factors that can influence the development of global event industry and
different types of events. Some factors include demand and motivation for different types of
events, socio-cultural development, global expansion, increasing use if technology, workforce
issues, political stability and instability etc.
Technology: Advanced technology like increasing use of social media platforms,
Facebook can have both positive and negative impacts on event industry. With the help of social
media platforms, the manager of Excel Centre London can increase awareness among
individuals by publishing every detail of event. By online survey it can get consumers needs and
attitude towards and can take actions accordingly. It can be said that technology has made a
massive change to the events as it allows businesses to promote their products globally which
save their time and transportation cost. On the other hand it can be said that using all technology
can increase operational and R&D cost (Lehner and D’Argembeau, 2016).
Socio-cultural: Nowadays many people and household which has disposable income
they are more likely to prefer to attend events because they can afford it. It is beneficial for event
industry which can increase their revenue. On the other hand, diversification and social trends
can have negative impact. Some businesses do not promote diversity which can dissatisfy the
community and can become the reason of failure of the event (Lea, 2016).
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Competition or global expansion: This industry is on rise, so everyone wants to come
in this industry. It is increasing competition level amongst existing players which from
development of technology, Advanced technology and good opportunities for making money
increasing the total number of companies in this industry. With the help of technology new as
well as existing companies can operate within a global market. It can decrease the sales of
corporate type of events (Mallon and Buchanan, 2015).
Workforce issues: Unemployment rate, changes in taxation policy can impact on the
event industry to the great extent. Event industry is all about creativity and innovation and for
making the project successful there is a requirement to get skilled workforce that have innovation
and creativity skills. Due to increased employment rate, they find difficulties to get workforce as
they have to pay more which can increase their cost.
Motivation and demand: Events are called the best motivator for tourism, so it is
important for event manager to focus on motivation and event planning. By providing attractive
offers, it can motivate and attract wider range of individuals for attending event. It can increase
the sales and brand image of the company. So, it can said that motivational factors have great
impact on event industry (Müller and et.al., 2016).
LO 2
P3 Evaluation of value, impacts and legacy of range of global events of environment
Impacts
Impacts of cultural and international diversity:
Cultural differences can have both positive and negative impacts. With international
diversity, the company can get new ideas which can help them in making their business more
innovative and creative. On the other hand it has to face some problems related to
communication, workplace etiquettes etc. Different people from different culture have their
own language which can hamper communication process. They can not describe and understand
languages of other culture which takes time and create miscommunication problem (Otto and
et.al., 2018). Due to these barriers it can decrease the effectiveness of workplace etiquettes. It can
lead disputes among employees which can also become the reason of staff turnover.
Contribution of events to the economy at different level:
Some major events like Olympic that Excel Center London has hosted have great impact
on the economy at different level. They give opportunities to local people to participate in
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events, increase their skills and employment opportunities as well. Big events help in promoting
attraction. They create employment, increase in labour supply, standards of living, increased
knowledge concerning the potential for investment and commercial activity in the region,
improve local infrastructure, Enhanced international recognition of region and values
Development of skills among planners (Parmar and Tran Morris, 2017). By providing
employment to the great extent and increasing sales and revenue it contributes to the great extent.
Event legacy
In the context of event legacy it can be said that it is the long return on investment for
host cities as well as an important part of making the business case for hosting a major or
Olympic event. One of the greatest example of Legacy event is Olympic games particularly in
London 2012. With tangible evidence an individual measure return on investment or legacy of
event. This legacy of event can have long term positive impact on the host country physically,
culturally and economically. It allows developing new venues, improve infrastructure as well as
increase amenities in surrounding areas of the Olympic park with regenerating areas.
Sustainability: Sustainability means to maintain direct as well as direct impacts of event.
In the context of sustainability it can say that event legacy or return on investment help in
improving economy. It is stated that UK economy increased of approximate £14.2bn in 2 years
after London 2012 Olympics. It is estimated that gross value added economic will have great
impact and it will become £28-£41bn by the year of 2020 by Olympic event. It can also be said
that the main aim of developing Olympic event is to contribute to build a peaceful and better
world by providing sport education to youth. For making sustainability there is a requirement to
continue event activities by reducing negative impacts of it on others.
Long term impacts on Stakeholder: Stakeholders can be defined as all those people who invest
in event in any type and take interest such as investors, people who come in the event etc. It is
already stated that the main aim of Olympic and mega events is to bring a variety of effective
social benefits via procedure of urban regeneration. Stakeholders are those who get affected by
decision, actions and policies of event. So, it is important for event organizer to make the event
more successful and make money.
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P4 Management strategies to support event development
Management strategies includes all those strategies that help event manager to make the
event successful. The main aim of management strategy is to increase the probability of a
successful event as well as reduce risks which may involve injury, reputation harm, damage to
property etc.
Stakeholder support: Stakeholders are known as the main of this strategy. By giving
excellent consultation they make management strategy of event more efficient. Some drivers of
this management strategy are environmental, social and cultural benefits. Some objectives of
event management strategy and stakeholder support are: to gain a strong understanding of
existing events, to develop a sustainable event program.
Balance scorecard: It is also called an important management strategy that include customers,
internal process, financial and learning growth. The main aim in the context of Olympic event is
to deliver infrastructure, venues and transport. It can take program cost, project cost and contract
cost. In the context of safety needs to plan for health and safety behaviours culture, scope and
design etc. By making an effective use of this strategy, event manager can improve its internal
functions. It is also being used to provide an effective feedback to the company for making
improvements (Pino and et.al., 2019).
Role of government:
The Olympic Games are the leading sporting event for all the countries to main the
relations with the other countries. Olympic games re organized in every 4 years in summer and
winter. The Government Olympic Executive and it is the main government body. The Olympics
games is the best achievement for the Britain to show all its good sides about the country and the
culture. Government plays a major role in upbringing of the Olympics in the nation. All the
councils of London are focusing on developing the games quality and the recruiting the better
coaches that is helpful in competing with the other countries. Government tries to maintain or
improve the abilities of the Athletes and the Government is regularly giving the support to the
sportsman and introducing the new games to the global level. Today, the sports Is known as the
important and the evolving sector across the world ans also supports the nation in every aspect.
The Government allows the investors and the producers to produce better quality sports goods to
the sportsman and the Government is giving the platform to the athletes and opening the new
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training institutes to train them so they can compete with the other countries and make the
country proud.
PART 2
LO 3
P5 Macro environmental factors that influence decision-making and organisational behaviour of
global event industry
Covered in PPT....
P6 SWOT analysis for the successful planning of event
Covered in PPT....
CONCLUSION
From the above study it has been summarized that diversity played a vital role in global
event industry. Event industry is on the rise as many people are taking and hosting different
types of events. It has shows several types of events based on size and content like personal,
corporate, business, sport etc. Some factors have great critical impacts on the development of
event industry like global expansion, rapidly changing needs of society, diversity, advanced
technology which has brought several innovations and creativity in this industry. Further it has
also shown the impacts of other factors, value and legacy of events. Diversity has both positive
and negative impacts on the development of this industry like it has brought innovation and new
ideas. On the other hand, it created problems related to communication and organizational
culture. Management strategies like Stakeholder support, Role of government, Corporate
environmental management model also played a vital role in developing event industry. Event
industry also contribute in increasing economy at all levels.
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