Global Events Industry: Development, Structure, Impact & Strategies

This report provides a comprehensive analysis of the global events industry, focusing on its diverse structure, the various types of events (mega-events, hallmark events, cultural events, sports events, and corporate events), and the factors influencing their development at local and global levels. It evaluates the key factors affecting the industry's structure and organization, including resources, digitalization, marketing, and the purpose of events. The report also critically examines the role of diversity, social media, workplace concerns, and safety in shaping the industry and its impact on society. Furthermore, it assesses the values, impacts, and legacy of global events, exploring management strategies for supporting event development and evaluating their effectiveness. The study concludes by assessing the impact of global events on different levels of the environment and evaluating management strategies for developing events now and into the future. Desklib provides access to this report along with a wealth of study resources, including past papers and solved assignments, to support students in their academic endeavors.

GLOBAL
EVENTS

Table of Contents
INTRODUCTION.........................................................................................................................3
PART A...........................................................................................................................................3
Diversity of global events industry, their structure and types of events......................................3
Factors which influenced development of events on local and global level...............................5
Evaluation of key factors which influence development, structure and organization of event
industry and role of different events in industry..........................................................................6
By using critical evaluation technique, define factors which influence event industry and their
role in society...............................................................................................................................7
Evaluation which defines values, impacts and legacy of range of global events within the
environment they operate............................................................................................................8
Management strategies to support event development..............................................................10
Evaluate management strategies used in event industry and how these are developed with
range of global events................................................................................................................11
Assess impact of global events on different levels of environment and evaluation of
management strategies for developing event now and into future............................................11
CONCLUSION............................................................................................................................12
REFERENCES............................................................................................................................13

INTRODUCTION
Event is something which is organized at a certain place for specific interval of time. A
global event is an organized event which involves people from different countries from around
the world. The global events can attract higher media attention. Organizing a global event such
as- Olympic games, World Cups, Cultural festivals and many others can drive many
opportunities of growth and development in local development and for whole country or
economy (Global events and local development, 2018). ExCel, London is an exhibition and
international convention center where private, public, conferences, concerts, we4ddings,
exhibitions, consumer and trade events can be organized. The convention center is in Royal
Docks, East London which has 6 hotels, 30 bars and restaurants and 3700 parking spaces on their
venues. This report will outline the information related to global event industry and factors
which can shape, influence and develop the events on global and local level. The study will
define the values, impact and legacy of events and management strategies that can helps in
developing successful event. Lastly, the study will quote information related to the impact of
global events on different levels of environment and evaluate strategies for developing event
now and in future scenario.
PART A
Diversity of global events industry, their structure and types of events
The diversity and structure of the types of events depends on the category, size, forma
and content of the event (Feng and et.al, 2019). Size of an event is the type or category which
defines the type and level of event.
There are several types of events which can be organized at local and global level, some
of these events are mega events, hallmark events, sports events, Expos, exhibitions and many
others. The different types of events are discussed below:
Local or
community
event
Hallmark
events
Mega
events
Cultural
events
Sports
events
Business/
corporate
events

Source: Created by self
 Local or community event- Community event are those events which are open to public
and are approved by city administrator. Such events are organized in private or public
property with the consent of the owner. These events must be organized by service group
and other organisation which can offer benefit to overall community (Community events,
2019). In other words, community event is a planned gathering of 50 or more people at a
public property. Some of the types of community events are marathons, quiz night,
gardening days, cook offs, film screenings, swap shops, Street parties, treasure hunts and
many more.
 Hallmark events- Hallmark event are those events which focuses on setting goals that
can be of a benefit to tourism and host community by attracting greater number of tourist
and enhancing positive image that is co-branded with destination. Hallmark events can be
organized for social work and for special interest groups (What are hallmark events,
2020). Hallmark events are major fairs, expos, cultural and sports event of international
status which are organized on regular or one of basis. Such events offer opportunity for
host community to safeguard high prominence in tourism market place.
 Mega events- Mega events are those events which are organized at larger scale which
can create an impact on whole economy and attract higher attention of global media.
These events are developed through competitive bidding. A mega event is organized with
the help of one or more organizers and live audience is gathered at the event. Mega
events is multifaceted concept which can be analyzed on various factors, such as-
objectives, nature, forms of consumption, territorial impacts, investments, decisional
process and periodic behavior. The capital cost which is incurred in the mega events is at
least $500 million. Some of the mega events are World Expo, Football World Cup, Asian
Games and many others.
 Cultural events- Cultural events are those events are those events which are based on
themes such as- spiritual, musical or for educational purpose of public. Such events
involve- theatrical, musical events or performance. These events are organized to
promote human intellectual achievements. In other words, cultural events are those
events which are related to culture or civilization and are valuable and for enlightment of
people and society.

 Sports events- Sports event refers to those events which requires skills of physical
prowess. Such events are competitive in nature and organized by following a set of rules
which is determined by a recognized sanctioning body. Sports event are organized for
development and active promotion of athletic activity.
 Business/ corporate events- Business or corporate event are those events which are
organized by business to interact and exchange opinions, deliver a message engage in a
debate or for celebrating the success of an organisation (Graeff, 2019). Such types of
events are usually design for discussion problem solving consultation and fact-finding.
Factors which influenced development of events on local and global level
There are variety of factors which are responsible for creating an impact on the
development of events at local and global level. Some of these factors are discussed underneath:
 Resources- The allocation of resources and optimum utilization of all types of resource is
an essential factor for successful development of event on local and global level in stock
if a business has successfully managed their financial, human and other resources and
made optimum utilization. This will help them in organizing a profitable and successful
event which can get high media attention. Whereas, if a business has poorly managed
their resources, this can create a negative impact on the development and organisation of
an event at local and global level and can also block the opportunities for business growth
and economic development.
 Digitalization- The use of digital platforms has created a positive impact on the
development of events at local and global level. With the help of online mediums and
platforms, this has supported business in connecting with customers easily and following
cost saving approach (Factors affecting event infest, 2020). As business are rapidly
investing in new technology, this can influence event experience and strengthen their
brand image within the industry.
 Marketing- Marketing is a business activity which is performed by business operating
within event industry. With the help of effective marketing strategies, a business can
enhance their brand presence before, during and after the event, focus on lead generation,

drive new opportunities, promotion of products and services, meeting overall customer
satisfaction, enhancing customer retention or engagement and pipelining values.
 Structure- This component includes the working structure of the event industry, which is
followed in order to reach desired goals and objectives (Hao and Singh, 2020). In the
event sector, a strong institutional structure aids in the smooth operation of operations in
the face of unstable economic conditions and intense competition in a given operating
market.
 Purpose of the event- When planning an event, the purpose of the event must be stated
so that event management activities may be assigned easily and according to schedule. It
will also act as a framework for the approach that will utilize to address the problem.
Evaluation of key factors which influence development, structure and organization of event
industry and role of different events in industry
There are several factors which create an impact on development structure and
organisation of an event industry. Factors such as infrastructure are source of demand, social
cultural factors are responsible for creating an impact on the operations of the event industry.
The development of infrastructure can create positive and negative impact and can also be
helpful for economic development.
Role of different events in industry
At events, businesses and prospects can meet face to face, allowing them to provide value
rather than sell. This aids the company's expansion in a more consistent and scalable manner,
which is critical to its long-term survival. As a consequence of successful events, business
operating at micro level in event industry can grow and develop. Businesses may use the right
moment and concentrate on human interest to engage visitors and members of the community as
brand ambassadors (Importance of global events, 2016). The long-term future for the event
industry at macro level is one of expansion and employment. In terms of expressing brand values
and raising awareness, brands all over the globe regard events to be second only to having a
brand website. As an industry concerned with operating as a bridge between B2C and B2B
organisations, there is obviously enough energy to promote economic change.

By using critical evaluation technique, define factors which influence event industry and their
role in society
Some of the factors which manipulate the event industry and their role in society are
explained below:
 Diversity- Diversity is one of the factors which can create an impact on the event
industry as all events have different types of audience from different backgrounds. Due to
high diversity, the positive impact of diversity on event industry can be seen through
engagement of audience from different places and it can also be helpful in promoting the
purpose of the event (Impact on event industry, 2018). Whereas, due to lack of diversity
in the industry, as this can create issues at the venue and it can be complex in managing
and resiling the issues which are faced by the organizers at the place of event.
 Social media- Social media has been a component which can create an impact on the
operations of the event industry. The role of social media platform and technology can
influence the event industry as this can be helpful in attracting higher media attention and
attention of greater number of audiences. The role of social media for event industry is to
promote the activities and events which are organized by the business operating in the
event industry and this can be helpful in promoting the activities and ensuring
development of local community and economic development.
 Workplace concerns- Workplace conflicts or issues can create negative impact on the
effectiveness and efficiency of business operating within event industry.
 Safety and security- Safety and security plays a crucial role in organizing a successful
event and this can be helpful in creating the brand image of the organizers.
The role of different factors such as diversity, incline in use of social media, dynamic
trends and, many others can bring various opportunities for business operating in event industry
(Hudson and Hudson, 2017). Such factors can bring opportunities for global expansion of
business, increased number of employment opportunities and can also be helpful in promoting
commercial activities which can be beneficial and profitable for companies operating within the
event industry at local and global level.

Evaluation which defines values, impacts and legacy of range of global events within the
environment they operate
Values
Organizing and global event can be valuable in many ways, can support installation
person connections with target audience potential partners sponsors shareholders and otherwise.
Organizing an event is the business style to establish trust, emotional connection and to offer
satisfactory outcomes from the event (Li and et.al, 2021). Organizing in event is valuable as it
will offer opportunity for more engaging experience with audience that can be helpful in creating
lasting impression and this well create a positive impact on engagement and retention of
ordinance and shareholders with the companies operating in event industry does which will
increase the profitability of business and strengthen the economic position of the country.
It is essential to organize an event as this offers opportunity for the band to connect with
audience by sharing their message related to the products and services and lead to authentic
brand engagement. Events please a valuable role in the development of the society and economy
with the help of their memory bus connection between brand and audience as life experience can
drive in valuable opportunities for content generation and data collection for future campaigns.
Impacts
Global events create an impact on different level of environment, some of the business
environment which are influenced are political, economic, physical and socio-cultural factors
(Naqash and et.al, 2020). The positive and negative impact of events on some of the factors are
explained below:
LEVEL OF
ENVIRONMENT
POSITIVE IMPACT NEGATIVE IMPACT
Political environment Global events can be helpful
in creating positive impact on
the environment through
development of
administrative skills and
social cohesion. International
Risk of failure of event, lack
of accountability, loss of
community and mis
allocation of resources are
some of the factors which are
responsible for creating

prestige, improved profile of
event companies and
promotion of investments can
be helpful in creating positive
influence on the political
environment (Paredes-Vallés,
Scheper and de Croon, 2019).
negative impact on political
factors.
Economic environment Incline in tourism, higher tax
revenues and commercial
activities are responsible for
driving various business
opportunities and
development of job
opportunities can positively
influence the environment.
Some of the factors such as
financial mismanagement,
inflation in process, financial
loss can create damage to
brand image of the company
and thus can adversely create
an influence in the event
industry.
Legacy
Legacy of organizing a global event can be termed as long-term return on investment for
host cities and this can be helpful in attracting new investments and deliver long lasting
sustainable development opportunity for the business and host country through which they can
strengthen their economic condition. In other words, legacy of a global event is responsible for
creating long term positive impact on the host city in terms of their culture, physically and
economically (What is event legacy, 2017). Events create a legacy and serve as a platform for
highlighting the importance of the event's purpose in a particular location.
For example, Olympic games is a global event which creates legacy for the host country
in terms of improvement in their infrastructure, enhance housing facilities and supports in
betterment of the economy as whole.

Management strategies to support event development
Management strategies are series of techniques for controlling and directing a business
towards the achievement of desired objectives and outcomes. Some of the management strategies
which can be helpful in development of a successful event has been explained underneath:
 Economic development strategy- The entire business amount is utilized to conduct all
tasks in accordance with planned expenditures. According to economists, this explains
the multiplayer ratio and the principles used to organize work. Event managers
coordinate all of the resources needed to organize money, according to an assessment of
the diverse combination of enterprises and their organisation in various geographical
locations (Richards and Colombo, 2017). Aside from the global event, it has been proven
that money spent on meal preparation is directly related to spending. As a result, the
economy is boosted by the food provider's employment.
 Perception management strategy- For yearly events, the administration is considering
incorporating questionnaires. All information related to important events is provided
through community perception, which addresses all planning components by giving
correct knowledge. On the other hand, management establishes all information by
developing a viewpoint and tracking changes throughout time. People's attitudes have a
vital role in the event's success, according to a study on fundamental and sustainable
tourism elements. For example, when an event occurs inside a geographical region, this
can foster many benefits and opportunity to local economy.
 Role of government- In business, government role is a major factor. This means that the
government in power has the power to change and limit business policies (Boncheva,
Sachanski and Andreeva, 2020). As a consequence, management develops strong
development drivers to finish the task in accordance with current economic conditions.
Traditionally, governments have developed event-related knowledge by participating in
events and providing it in desirable community characteristics.

Evaluate management strategies used in event industry and how these are developed with range
of global events
In the contemporary environment, business-related impacts are more prominent,
suggesting that numerous indicators exist. The majority of them are concentrating on putting in
place long-term aspects in order to achieve official business results (Del Carmen and Bartolome,
2018). On the other side, showcasing increased economic outcomes is one of the positive
features of a corporate management strategy. The geographical environment is crucial in
defining a corporate organizational management strategy. Similarly, a negative effect of
commercial factors is that expected event income is not always accurate, decreasing
stakeholders' interest in the company.
Assess impact of global events on different levels of environment and evaluation of management
strategies for developing event now and into future
Global events can have an influence on the people, community, ecosystem, and biosphere
at different levels of the environment. Numerous operations are carried out in order to arrange a
worldwide event, such as energy consumption, building, transportation, and many others, all of
which have an influence on various environmental domains. Environmental quality, climate
action, energy consumption, waste management, water and transportation services, and the
utilization of natural capital may all be used to assess the effects of hosting a worldwide event on
many levels of the environment (Valaskivi and et.al, 2019). The usage of such resources has an
influence on the environment, and the effects of such variables can be both beneficial and
harmful.
By implementing social responsibility methods, the firm will be able to ensure the event
industry's long-term viability in present and future conditions. The event industry will participate
in policies related to sustainability, energy, waste management, and environmental protection in
order to maintain and expand the sector in the present and future. Some tactics, such as
partnering with other businesses, fostering a culture of CSR, and sharing inspiring tales, can
assist to support people's interest and motivate them to take action, which will aid in the
development of the present and future situation.

CONCLUSION
According to the findings of the study, global events have a significant impact on
increasing organizational efficiency. In addition, management studies and assesses a variety of
aspects related to events, such as their structure, corporate organisation strategies, and different
types of social events. The micro and macro environment factors of an organisation have an
impact on both global and local events. In order to grasp the context in which the event is
handled, the heritage, types of events, value, and so on are all comprehended and concluded. In
today's world, there are a variety of global events that must be organized effectively. Macro-
environmental variables will have a positive and negative impact on the global event sector.
Furthermore, essential environmental factors and their interactions with strategies must be
identified in order to respond to instances and ensure a better future role. Furthermore, all
environmental stages and their interactions with strategy must be grasped in order to adapt to
events and ensure a better future position.