Global Events Industry: Development Factors and Management Strategies

This report provides a comprehensive analysis of global events, focusing on their diversity, the factors influencing their development, and their role within society. It categorizes events by size, including major, mega, local community, and regional events, and examines the social, cultural, and political factors that shape the event industry. The report also evaluates critical evaluation techniques like formative, summative, and impact evaluations, and discusses the value, impact, and legacy of global events, emphasizing cost-benefit analysis and the importance of identifying both positive and negative impacts. Furthermore, it explores various management strategies, such as setting goals, avoiding multitasking, and conducting economic studies, and critically evaluates their positive and negative impacts. The report concludes by addressing the environmental impact of global events and the need for thorough environmental assessments before conducting any event.

GLOBAL EVENTS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Factors influencing development of event industry....................................................................4
Role of different events within the society.................................................................................4
Critical Evaluation Techniques...................................................................................................5
Value, Impact and legacy of global event...................................................................................6
Management strategies ...............................................................................................................6
Critically evaluate specific management strategy.......................................................................7
Impact of global event on different levels of environment.........................................................8
CONCLUSION................................................................................................................................8
PART- B..........................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Global events can be defined as the events that are for limited time period but
have global reach. It requires investment by public and have impact on environment
(Duan and et al., 2020). In this report, diversity of global events is described. Factors
influencing diversity of events, evaluation of key factors is also discussed. Critical
evaluation of techniques is also discussed. Management strategy used within the event
is also described. Impact and legacy of global events within the environment is
discussed. At last, critical evaluation of global events on different levels of environment
is discussed.
MAIN BODY
Diversity in the global event industry refers to different perspective of various
needs. There are many various ways in which events can be categorised like by size,
share and growth. Event size can be further categorised as major events, mega events,
local community events and regional events (Eakin, Sweatman and Brainard., 2019).
 Major events: Major events are the events that attract many visitors. It attracts
both domestic and international attendees. There is large number of visitors,
economic benefit and media interest. Some examples of major events are:
Women's Rugby World Cup 2021,New Zealand Masters Games etc.
 Mega events: Mega events are the events which are large and affect the whole
economy. They attract attendees both domestic and international. These events
generate media interest and also generate international profile. Few examples of
mega events are: ICC Cricket World Cup, Rugby World Cup etc.
 Local community events: Local community events are the events which attract
local attendees. They do not focus on international attendees. They organise
events for the local audience and their purpose is to attract more local audience
rather than international audience (Eluri., 2019). These events are organised for
fun and entertainment of local people. Some examples of local community events
are: New town Festival, school carnivals, Asia Mela Waltham Forest etc.

 Regional events: These events attract mainly domestic audience. They attract
few international audience. Examples of regional events are: Art Deco Weekend,
Queenstown Marathon etc. They help people to expose new ideas and new
experiences.
Structure of the events: There are many other events that are organised by different
teams like Harrogate international festival. Corporate events are organised by various
project team that are allotted for the event (Ferguson-Cradler., 2018).
Factors influencing development of event industry
There are many factors that influence the development of event industry like,
social, cultural and political factor. Socio factors refers to positive as well as negative
impact of the events on the society. It considers interpersonal relationship, traditions
and lifestyles of the community. Social factor includes different customs and traditions of
different people in the country (Hart., 2019). It also includes education, religion, size and
structure of the family and population. Different country has different trends and different
market conditions. So, social is one of the factor that helps in development of event
industry at global level as well as local level. These factors affect the lifestyle of the
people of the community. Another factor that influence the event industry is political
factor.
Political factors refers to how government influence in development of event
industry. Political factors includes labour law, tariffs, trade restrictions, tax policy etc.
Government focuses more on health and education of the people and infrastructure of
the nation. It is necessary to understand political factors because they can affect the
industry. Next factor that influence event industry is cultural factor (Lemmon and et.al.,
2019). Cultural factors includes difference in language and culture, ethics and values,
social organization. Culture influences decision making process of an individual. An
individual has different choices, taste and preference. So, these are some factors that
affect development of event industry at global level and local level.
Role of different events within the society
Events play an important role within the society as events bind people together
and make special moments for them. Events can be like, celebrating all the cultural

festivals and different fairs. Celebrating festivals help people to know about what are the
various festivals and different traditions and culture (Liu and Huang., 2017). By this all
people will know about each other's tradition and they will have fun in celebrating
festivals. In this fast changing world, celebrating festivals or any other events will help in
connecting with new people, their culture and new ideas can be formed. This also helps
in connecting the local level and the global level. The people who are present in the
event make the event interacting by enjoying the event (Myhre and et.al., 2019). Events
also play role of social actors as humans are responsible for making an event
successful by interacting with each other. Events in the network society has three
phenomena i.e., revolution in information technology, process of globalization and
emergence of new form of organization networking.
The social, cultural and political factors have some positive impact and some
negative impact. Positive impact of these factors are it helps in encouraging
development of external thinking. This help in anticipating threats of the industry and
take necessary steps to minimise the risk or to avoid it (Zhang and Yang., 2019). These
factors also help in enabling the industry about opportunities that are available.
Negative impact of these factors are these factors should be undertaken on daily basis
so that it can be effective. In this rapid changing world, it is difficult to anticipate changes
that may affect industry in the future.
Critical Evaluation Techniques
Evaluative techniques are the techniques which help the industry in determining
the effectiveness and customer satisfaction. Few evaluation techniques are: formative
evaluation technique, summative evaluation technique and impact evaluation technique.
Formative evaluation technique is the technique which is useful during process. This
technique is used to measure how the overall process is going and any improvement is
required or not. This technique helps in judging when the activities are in progress. The
focus of formative evaluation technique is to make improvements in the program. This is
conducted at the early stage of life cycle like at the development stage. The next
technique is summative evaluation technique, this technique is useful at the end. This
evaluation technique considers effectiveness of the whole event and after that it gives
suggestions to make improvements. For example, surveys can be conducted regarding

the event. Survey will help in identifying that what are the improvements that are
required and according to that modifications should be done. It also helps in identifying
that whether training is required in any field. Next technique is impact evaluation
technique, in this effectiveness of goals of the event are evaluated. These evaluations
occur after long time. This evaluation technique is expensive as it is long term
technique. All these techniques help in evaluating the performance and give
suggestions for improvements to be done.
Value, Impact and legacy of global event
Events and celebrating festivals are important because it helps in connecting
people with the culture and tradition of different regions. Celebrating festivals not only
provide opportunity to the communities to explore their identity in the global world but
also provide them stage to celebrate their culture. In the events cost benefit analysis is
considered to check how much revenue is generated. It also helps in comparing total
income with total expenditure. It is important to identify positive impact as well as
negative impact of the event. It will help in making modifications or improvements that
are required in the event next time. Local businesses mainly focus on mega events to
increase their revenue.
There are many factors like, social, cultural and political. These have positive
impact on the event which helps in increasing event outcomes and optimize the benefits
of the events. More strategies are developed to improve the outcome of the event. The
government is considering taxpayers funds in the events and compare the investment. If
the event fail then all the positive points will turn into negative points. Each of the factor
i.e., cultural, social and political can be categorise in size and type. In today's world,
there is rapid change in the market trends and taste and preference of the customer.
So, environmental factors are also changing and company has to make changes
according to the latest trend and demand of the customer.
Management strategies
Management strategies are the strategies that are used for controlling and giving
directions to achieve the goal of the company. It is important to make strategies

because it helps the company in achieving future goals and objectives of the company.
Some management strategies are as follows:
Set goals and objectives: Firstly, every company should set goals and objectives
which the company want to achieve. Goals and objectives should be set properly
because if goals are not set then company cannot move ahead. All the plans should be
made properly and market research should be done.
No multitasking: No one can perform various task at a time. So, company should
eliminate multitasking so that individual can understand what work they have to do and
there will be less chance of mistakes. Work will be finish on time as one person will get
one task to complete.
Economic study should be done to identify all the expenses that are involved in
events and also helps in determining the impact of economic study in wider scope.
There are three main sources of economic study that are, expenditure by visitors,
capital expenditure on facilities and expenses that are incurred by sponsors for the
event. Sometimes, the event may result in increased wages and spending of the
consumer. The overall impact of all the expenses on the economy can be expresses as
multiplier ratio.
Critically evaluate specific management strategy
Management strategies has positive as well as negative impacts. Positive
impacts of management strategy is it helps in providing directions and controlling all the
activities of the event. It also helps in making plans for future and shows the way how to
achieve those goals. One of the management strategy is to set goals and objectives, its
positive impact is that it helps in making strategies for future (Marthews and et.al.,
2020.). It also helps in gathering information about the market.
It has negative impact like, sometimes plans may fail due to environmental
factors that affect the company. Environmental factors like political factors, economic
factors, social factors and cultural factors. Next, strategy is no multitasking, in this every
individual should be given one task at time (Ongchoco and Scholl., 2020). This will
reduce the burden and can focus on achieving the goals. This strategy has negative
impact as if only one task is given to employees then it will be difficult for the company

to achieve the goals. Economic study is also one of the strategy that helps in identifying
the expenses and income. This is positive impact as this will help in estimating profit. Its
negative impact is that sometimes estimation may be wrong like expenses may
increase and therefore income get decrease. So, management strategy has both
positive and negative impact (Wang and Tkalčić., 2020. ).
Impact of global event on different levels of environment
Every event requires an environmental assessment before conducting any event.
An event manager should carefully study about the impact of the event on the
environment. If the event is held at public area then impacts will be more. So, events
should be held at park, street or town square. Environmental and physical factors such
as crowd and parking issues, natural and physical environment, heritage (Gogaert and
et.al., 2019). In public area there is lot of problem related to parking. If proper
communication is done with the local authorities then some issues may be resolved.
Tourism and economic impact, this includes income from sponsorship, merchandise
and sale of the ticket. Events can be seen as creating image in the market, providing
competitive advantage and building relationship with the customers. External visitors
spend money on travelling, accommodation, goods and services.
CONCLUSION
From the report it can be concluded that, there are different types of events i.e.,
mega event, major event, local event and regional event. In this report factors
influencing development of events, evaluation of key factors is discussed. Role of
different events within the society is also discussed in the report. Evaluation techniques
that shows value, impact and legacy of global events is discussed. Management
strategies that helps in event development is also described. Further, physical,
environmental and tourism impact on global events is discussed.
PART- B
(Covered in PPT )

REFERENCES
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Networks. 7(1).p.24.
Ferguson-Cradler, G., 2018. Fisheries’ collapse and the making of a global event,
1950s–1970s. Journal of Global History. 13(3). pp.399-424.
Gogaert, S., and et.al., 2019. Global Event Data Research Registry: Taking Mass
Gathering Research to the Next Level. Prehosp. Disaster Med. 34(1). pp.s38-
s39.
Hart, M. B., 2019. The ‘Black Band’: local expression of a global event. Proceedings of
the Yorkshire Geological Society. 62(3). pp.217-226.
Lemmon, M. T., and et.al., 2019. Large dust aerosol sizes seen during the 2018 Martian
global dust event by the Curiosity rover. Geophysical Research Letters. 46(16).
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Liu, W. and Huang, J., 2017. Event-triggered global robust output regulation for a class
of nonlinear systems. IEEE Transactions on Automatic Control. 62(11).
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uncertainty in the eartH2Observe project. Hydrology and Earth System
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Myhre, G., and et.al., 2019. Frequency of extreme precipitation increases extensively
with event rareness under global warming. Scientific reports. 9(1).pp.1-10.
Ongchoco, J. D. K. and Scholl, B., 2020. The hierarchy of experience: Visual memory is
differentially disrupted by local vs. global event boundaries. Journal of
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Wang, S. and Tkalčić, H., 2020. Seismic event coda-correlation's formation: implications
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Zhang, C. H. and Yang, G. H., 2019. Event-triggered global finite-time control for a class
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Online

Kobrak, C., 2017 Diversity of global events [Online]. Accessed
Through:<https://medium.com/@blogbykobrak/diversity-in-the-events-industry-are-
we-doing-enough-d6f2e1b81b37>

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