Global Event Industry: Diversity, Impacts, and Management Strategies

This report delves into the multifaceted global event industry, exploring its diversity, structure, and societal roles. Part A examines the impact of global events on various sectors, society, and the economy, focusing on the London Exhibition Centre. It covers different event types like mega and community events, along with the industry's structure, including vendors, venues, and industry associations. The report analyzes the elements affecting the industry's development, such as tourism, employment, and social media. It further evaluates the value, impacts, and legacy of global events on the environment, considering social, cultural, and political effects. Part B presents a presentation discussing the positive and negative impacts of the macro environment on the global event industry and its impact on decision-making, along with a SWOT analysis for a specific event to examine and assess the criteria essential for the successful planning of events. The report concludes with a discussion of management strategies, including the balanced scorecard, community perception, and economic impact studies, essential for event development and long-term success.

Global Events

Table of Contents
PART 1............................................................................................................................................3
INTRODUCTION:..........................................................................................................................3
TASK1.............................................................................................................................................3
P1) Explain Diversity of the global event industry and structure along with roles of different
types of events in society ...........................................................................................................3
P2) Discuss elements that affects development of event industry globally................................5
TASK 2............................................................................................................................................6
P3) Analyse value, impacts and legacy of global events over environment in which they
operate.........................................................................................................................................6
P4)Analyse management strategies that are formulated to support event development for a
range of global events ................................................................................................................7
PART B............................................................................................................................................8
TASK 3............................................................................................................................................8
P5) Discus the positive negative impact of macro environment over global event industry
along with its impact on decision making behaviour with suitable examples............................8
Covered in PPT...........................................................................................................................8
TASK 4............................................................................................................................................8
P6) Conduct a SWOT analysis for a specific event to examine and assess the criteria essential
for the successful planning of events..........................................................................................8
Covered in PPT...........................................................................................................................8
CONCLUSION:...............................................................................................................................9
REFERENCES..............................................................................................................................10

PART 1
INTRODUCTION:
Events refers to the programs that are organized to meet with different purpose as well as
requirements. It implies gathering of people at venue on scheduled time for a predefined
objective (Alizadeh-Choobari and Najafi, 2018). Event can be conducted at national or
international level. As per current trend this industry has adopted a lot of changes in terms of
structure, functions and so on. The report is about the impact of global events at various sectors,
society and economy at large. It concentrates on London Exhibition Centre, a convention centre
situated at East London. The current report has two parts. Diversity of global events, value and
legacy of events, managerial tactics as well as strategies are discussed in Part A. Whereas Part B
comprises a presentation pertaining to positive and negative impact and Swot analysis of global
events.
TASK1
P1) Explain Diversity of the global event industry and structure along with roles of different
types of events in society
Event industry at global level is adopting several changes to enhance business and earn
potential profit margins. Nowadays, there are different categories has been determined for
events. This bifurcation is based on size, scope structure and many more. There are various
types of events are organized like hall mark, mega, local community and so on. Events industry
of UK contributes a huge part in the overall development of nation. As per the recent survey 30
% of the market activities is acquired by this sector. Different type of events that are being
organized by country are discussed below:
Mega Events: These vents are organised at international or large level and put a
significant impact on overall economy of a nation. It helps to earn huge income through
promoting tourism within the country. For instance Olympics, FIFA world cup and world fairs
are come under this category (Bailey and de Pol, 2016).
Local Community: it is organised by communities for a festival or special occasion for
the socialising , fun and entertainment purpose. These events are essential to spread the felling

of belongingness, pride within the local audience. For example, ceremonies, anniversaries,
celebrations are fall in this category.
Hall Mark: It refers to the events that are carry out to increase to enhance the presence
of local place, town at international scale. Main aim of hall mark events is to promote tourism
within nation. It not only helps to increase in tourist income but also render higher recognition to
a local place at global level (Cascio, and Boudreau, 2016). For example, carnivals in Rio is
famous in the entire world and source to earn huge tourist revenue for citizens within country.
Structure of event industry
The process by which an industry carry out its crucial activities to achieve specific goals
is known as structure. For event industry the structure is mentioned below:
Vendors: Suppliers are crucial part of respective sector as they arrange necessary raw
material, equipments for the successful completion of program. In addition they make efficient
coordination with other departments such as lights, decorations, management and so on.
Venues: It has become an integral part of overall structure followed in respective
industry. Different type of venues are required for different events. For instance hotels for
conferences, stadiums or centres for sports events and so on.
Industry Association: It is essential to have strong relations external parties due to
extensive competition and diversity in event industry at UK. It is an important part of overall
structure and helps to inflate communications, networking within industry to successfully
complete an event.Like ESAE that is an association known as European Society of Association
Executives.
Roles and Responsibilities of events in society
Nowadays, roles and responsibilities of events towards society has been increased at
large scale that are discussed below:
 It is the duty of event industry to provide source of employment to local audience. Such
as Hall Mark are enhancing revenue of citizens trough promoting tourism at global level.
 Whereas community events provides a sense of belongingness, pride to the local
audience as they get an opportunity to interact and share thoughts, feelings, ideas with
each other.

 One of the major duty of event industry is not only increase in tourism but also provide
international recognition to the nation. Mega events helps to make strong identity of
country at global level in order to promote tourism.
Above discussion renders valuable information regarding major types of events and their
structure along with the roles as well as responsibilities of event industry towards societal well-
being and upliftment.
P2) Discuss elements that affects development of event industry globally
There are various elements that put a significant impact on overall growth &
development of event industry, they are mentioned below:
Tourism Industry: Event and tourism both sectors are interlink with each other. If events are
organized well and grab the attentions of international audience, it will help enhance tourism
within nation ( Frölicher, Fischer and Gruber, 2018). It also affect the structure, activities of
overall event business as they need to make modifications in present strategies and policies. Thus
change in tourism environment also will bring change in event sector fulfil the demand arises at
market place.
Employment: As per current situation unemployment rate is increasing rapidly.
Hospitality industry is highly affected with prevailing pandemic condition. A lot of people who
were working in event sector have been loosed their jobs. As companies has to fire efficient
employees who render quality services due to unavailability of sufficient funds. It significantly
affect the development of overall industry In addition, now they are not able to take services of
international employees. Thus, pandemic not only put negative impact over job opportunities but
also on entire industry at global scale.
Social Media: Digital platforms plays a vital role in enhancing presence of a company at
market place. AS, events are organised at international level, it is crucial to undertake social
media platforms to grab the attentions of global audience. It will facilitate global recognition of
event industry of UK. There are various online platforms such as Facebook, Instagram, twitter
that can be undertake by managers to escalate their brand value. In addition advertising of
various events such as Olympic and others with social media render tremendous opportunities of
growth and development of business.

Out of above discussions, it is monitored that there are ample of factors which
significantly affect growth and development of event industry and need to be consider by
managers while taking decisions.
TASK 2
P3) Analyse value, impacts and legacy of global events over environment in which they operate
Events are conducted in different type of environment as per the requirement, culture of a
nation. It is organized to meet with various requirements related to culture, values and so on. The
impact of events over environment is elaborated below:
Social Culture effects: It comprises values, believes, rituals of society due to which an
event is organized. Community events are conducted to enhance in sense of belongingness,
pride, interaction among local audience. It plays a vital role in overall development of society. It
is crucial to ensure higher participation in these events in order to enhance cultural spirit among
citizens of a country (Kraidy, 2018).
Physical environment effect: There are certain events that put a negative impact on
environment. For instance, New year celebration at china that is organized at global level
significantly affect the physical environment of nations. It uses crackers, loud music that crates
high pollution and causes a lot of health issues to citizens of country.
Political Effect: Global events also affects political environment as there are different
rules & regulations in various countries. Such as during Olympic government of particular
nations need to make new rules, policies to make the event success. Thus, several events that re
organized at global context affect existing compliances, norms of the nation.
Events Legacy
It implies the duration for which an event has been organized along with various other
aspects. Legacy of event can be positive or negative that has been created over a period of time.
For instance- There is an example of London Olympic that was organized in 2012 ( Morgner and
Aldreabi, 2020). It proved to a great success for country and helped in development of overall
economy. It improved to increase in number of tourists and also developed new venues and
infrastructure of nation. In this way, London has created a legacy and still known for hosting an
international sports event.

Social Environment: There are a ample of events that are hosted by a society to fulfil
their goals. It put a significant impact on overall society by providing sense of belongingness,
pride and so on. These events help to change in behaviour, attitude of people as they can
exchange thoughts, ideas, values with each other. In additions, it provide an opportunities to
people to meet with their socialisations needs.
From Above discussion, it is analysed that environment is being highly affected by global
events. It put significant impact over society, physical as well as political environment. Besides
this, it stated regarding legacy of event with an appropriate example ( Van Dijk, 2019).
P4)Analyse management strategies that are formulated to support event development for a range
of global events
Management strategies are essential to achieve business objectives and meet with future
goals. It helps to grab the opportunities & to meet with uncertainties that may occur in upcoming
years. In event industry, it is imperative to undertake appropriate plans to survive at market place
for a longer period of time. This not only help to increase in profitability but also get an edge
over other competitors present at market place. Strategies that need to be follow by event
managers are mentioned below:
Balance Scorecard: It is an essential strategy as it monitors the progress as well as
performance of events along with their impact on social and overall economy. It comprises both
qualitative as well quantitative aspects that help manger make an efficient stargate for future
growth and success. In addition, it assist to organize an event in predefined at global level.
Community perception of event: Under this strategy a survey is carried out to gather
information about current market condition, trends, taste, preferences of customers. It helps to
collect necessary data through which mangers can make inferences about the perception of
consumers and provide services accordingly. With this tool, marketers can understand mindset of
customers and will be able to organize further events as per the demand of market place. They
use questionnaire & telephonic conversation to get necessary data from customers. It includes
questions regarding previous events and help to know perception of clients As this sector
provides ample of job opportunities to local people by rendering international recognition to
nation. Thus it is crucial to know the perceptive of customers about respective sector. This tactic
provides an edge over competitors and help to make an efficient plans to meet with demand
arises at market place ( Wilkerson, 2018) .

Economic impact studies: Under this detailed analysis is undertake by managers over
the impact of events on overall economy. It involves in-depth study regarding cost and return on
investment of events that has been organized by country. It is conducted by government of a
nation to examine various expenditures and returns along with their impact on wider economy. A
lot of cost is incurr to conduct an event such as capital, overhead expenses and so on. This study
assist higher authorities to monitor the return over investment done by them. Thus, it is vital to
carry out economic study in order to make efficient strategies for escalation of respective sector.
With above points, it is monitored that there are a lot of strategies that need to be follow by event
managers in order to achieve predefined objectives and for the growth and development of event
industry at global level.
PART B
TASK 3
P5) Discus the positive negative impact of macro environment over global event industry along
with its impact on decision making behaviour with suitable examples
Covered in PPT
TASK 4
P6) Conduct a SWOT analysis for a specific event to examine and assess the criteria essential for
the successful planning of events
Covered in PPT

CONCLUSION:
With above report, it can be concluded that global events are essential to organize for
overall growth and development of an economy. The industry has been adopted various changes
that are essential as per current trend of market. Further, it states regrading diversity of global
events that helps to escalate the industry. To face competition, it is essential to prepare necessary
marketing strategies. Discussion has been carried out regarding impact of macro environmental
factor along with SWOT analysis of event industry.. Moreover, it is analysed that there are ample
of elements that influences the whole sector and its efficiency at wider level.

REFERENCES
Books and journals
Alizadeh-Choobari, O. and Najafi, M.S., 2018. Extreme weather events in Iran under a changing
climate. Climate Dynamics, 50(1-2), pp.249-260.
Bailey, L.D. and van de Pol, M., 2016. Tackling extremes: challenges for ecological and
evolutionary research on extreme climatic events. Journal of Animal Ecology, 85(1),
pp.85-96.
Cascio, W.F. and Boudreau, J.W., 2016. The search for global competence: From international
HR to talent management. Journal of World Business, 51(1), pp.103-114.
Frölicher, T.L., Fischer, E.M. and Gruber, N., 2018. Marine heatwaves under global
warming. Nature, 560(7718), pp.360-364.
Kraidy, M.M., 2018. Terror, territoriality, temporality: Hypermedia events in the age of Islamic
State. Television & New Media, 19(2), pp.170-176.
Morgner, C. and Aldreabi, H., 2020. Media events and translation: The case of the Arab
Spring. Journal of Arab & Muslim Media Research, 13(2), pp.133-153.
Van Dijk, T.A., 2019. Macrostructures: An interdisciplinary study of global structures in
discourse, interaction, and cognition. Routledge.
Wilkerson, B.Y., Ford Global Technologies LLC, 2018. Vehicle-based methods and systems for
managing personal information and events. U.S. Patent 10,163,074.
Wise, N. and Harris, J., 2017. Sports events, tourism, development and regeneration: a
perspective from gulf states of Abu Dhabi, Dubai and Qatar. In Sport, Events, Tourism
and Regeneration (pp. 9-23). Routledge.
Woolley, S.C., 2016. Automating power: Social bot interference in global politics.