Global Events Industry: Structure, Factors, and Impact Report

This report delves into the global events industry, examining its structure, the diversity of events, and their impact on society and the environment. It explores key factors influencing industry development, such as demand, expenditure, and technology, and evaluates their effects on a local and global scale. The report analyzes different types of events, including mega, hallmark, cultural, and sports events, and assesses their roles in society. Furthermore, it reviews management strategies to support global events, considering their environmental impacts and the use of technology. The report provides an in-depth analysis of factors impacting event industry and its impact on environment.

Global Events

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
PART A...........................................................................................................................................1
1. Diversity of global events industry along with its structure and different types of events
within society...............................................................................................................................1
2. Explain the factors which influence the development of event industry on local or global
level..............................................................................................................................................3
3. Evaluate key factors that impact structure, development or organization related to the event
industry and role of events in the society.....................................................................................4
4. Use critically evaluation techniques in order to analyse that how key factors influence event
industry........................................................................................................................................4
5. Explain the range of value, impacts & legacy of global events in context of environment....5
6. Review management strategies to support global events and its development.......................5
7. Critically evaluate management strategies which used in event industry................................6
8. Critically review the impact of global events on different level of the environment..............6
PART B............................................................................................................................................6
Covered in PPT............................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Global events means any event which happen all over the world which increase
interaction between different countries, people and community. Events can be classified on the
basis of size, type of context (Cabrera, Jones and Theimer, 2011). These events can be private,
corporate, charity etc. it will impact society. Global events will enhance knowledge to the
community which required for further improvement or social development. This project based on
London’s ExCeL Exhibition Centre which is international event hosting company. They wanted
to expand expand further and for ut they have to conduct market research for effective analysis.
This report cover various topics such as diversity of global events industry along with its
structure and role of different types of events in society. Explain the factors which impact
development of event industry in the world. In addition, it include range of events which impact
environment so organization use management strategies to support responsible environment.
MAIN BODY
PART A
1. Diversity of global events industry along with its structure and different types of events within
society
Event industry: When any organization or individual attend any job faire, festival,
confess etc. it will be arranged or managed by someone which comes under the business of
events sector (Cornelissen, 2017). It is also known as event management or planning where it
include one party planner to the large size business events. ExCel Exhibition Centre is the
company of event management sector which conduct various successful events such as Olympic
Venue in 2012.
Different types of events on the basis of:
On the basis of size:
 Mega event: It include those events which are big in size and influence as well as impact
the economy and become a popular topic for media. For example: Sports mega event
received much criticism because it improve awareness of the brand related benefits.
 Hallmark event: These events are related with the specific mark such as ethics or spirits
of town, those events that pronounced with similar name of any city or region. For
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example: Olympic is an hallmark events because this game will be organized by different
country and it comes under international event.
On the basis of context:
 Cultural event: These types of events related to the specific culture such as music, art,
entertainment and other similar things. Every country have their different cultural events
and sometimes management company organize other cultural events in order to increase
awareness of other culture among the people (Holik and et.al., 2015). Such as African
culture night, this event help the individual to understand their culture which improve
knowledge as well. Similarly, Diwali festival also spread awareness among the people
about their culture, music and art.
 Sports events: This kind of events include athletic activities which required specific skill
or physical power. Basically these events organize for competitive purpose which
governed by the set of rules and the recognize body. Game events, Olympics, Word cup
of different games comes under sports events.
 Business events: These types of events will increase individual or organizational
knowledge because it include business meetings, conferences, lecture, meetings training
etc. It helps in improving individual personality which provide further benefits to the
business in terms of growth, productivity or profitability.
Structure and components of event industry:
 Event management Companies: It include the group of professionals or individuals
who organization whole event as per their client requirement. These organization conduct
all activities which required according to the type of event. For example: festival, social
event, formal parties, business event, conference etc.
 Event industry suppliers: This industry found to be more growth or complexity due to
the formulation of wide range of specialised suppliers. These people directly linked with
the organization in order to make event more successful (Konstantaki and Wickens,
2010). Suppliers provide various facilities such as staging, production, entertainment,
catering. These functions required to make any events successful and able to meet client's
desires.
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 Venues: It includes events management components which impact the whole industry
such as market trends and requirement of clients which can influence the demand. So
company have to analyse their needs which improve their event services and satisfy them.
Role of events within society:
Different types of events impact the society in different way because it is an powerful
platform which positively impact the society. Mega or hallmark events are more profitable as
well as beneficial because it positively impact the economy as well as society. For example:
festival events provide huge number of positive social impact such as developing communication
and social network between communities (Lundh and et.al., 2017). Development of existing
resources within community which play important role. With the help of these events, citizens
are able understand and it increase their knowledge regarding different culture, games, music,
arts etc. It further helps in building network within community or across as well. These events
helps in increasing individual interest which is beneficial for them as well as for whole economy.
2. Explain the factors which influence the development of event industry on local or global level
Event management is large industry that has big effect on organisations and brands. It is
dynamic and versatile like event management is mainly bound to evolve faster. This is about
meetings, seminars, product launches, exhibitions etc. The event industry exited before 19th
century and people has skills for managing event. In this, requirement for the large scale events
and face to face meetings began developing with advent of the industrialization. In United
Kingdom, Event industry is worth £42.3 billion to economy in context of direct spend through
attendees, organisers and delegates.
Event industry is impacted through the different factors such as Demand, Expenditure
and Technology. These all plays a necessary role in development of the event industry. Different
factors and their influence on development of events industry on both a local and global level
mention below:
Demand- Under this, each and every person planning for the event on occasion in order
to make it memorable. It can be related to music, sports, marriages and kind kind of celebration.
This demand factor on local and global level (Reic, 2016). At local, there is limited demand of
conducting at event and companies have the limited resources. On the other hand, at global level,
there is high demand of events and they people in foreign country celebrate each moments.
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Expenditure- It is one of the main factor that influence event industry because people
spend more in the events. Events firms are able to provide the better services to clients according
to their needs. There are many sponsors which help organisations to organise an events. It helps
in reduce turnover of company. At the local level, the income level of some people is low and
they are not able to afford expensive event services. At global level, there is high income level of
people and they can plan the big events by expanding more. In addition to this, at global level,
there is proper availability of resources and company does not face any kind of issues in
conducting event.
Technology- It is most necessary factor because technology helps in conducting the
performing any activity or business operations in an easy manner. Different technologies make
the event easier for an organisation to organise the meetings and conferences. In past, companies
are not able to connect with more number of people but in this present time, organisation can
connect with people in all over the world and provide its services anywhere with the help of
technology (Sallis and et.al., 2016). At local level, companies provide the details to people
regarding their previous events by portfolio. At global level, event companies send the videos
and the emails about their information or scenario regarding past events.
3. Evaluate key factors that impact structure, development or organization related to the event
industry and role of events in the society
Under this, main key factors which are influenced development, structure and the
organisation of events are technology, demand and the expenditure. In this present time, event
industry is growing year by year and give main contribution towards an economy of country. On
the other hand, in the society, there are different types of events conducted such as marriage,
sculptural, sports, music and many others (Smith, 2014). The purpose of all events are different
from the each other and they are the important source to entertain the people and give them
better opportunity to show their talent or skills.
4. Use critically evaluation techniques in order to analyse that how key factors influence event
industry
It is critically evaluated that, different range of techniques used to identify those factors
which impact event industry such as demand, technology and expenditure. It affect the
organization along with its productivity and profitability. Event management company have to
formulate their activities or strategy as per the requirement of customer. Because it further helps
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in increasing their satisfaction level and complete their demand. Use of technology will improve
efficiency as well as effectiveness. It further reduce expenses which might be possible by using
latest technology in the events.
5. Explain the range of value, impacts & legacy of global events in context of environment
Impact of events: In the event industry, there are various components which impact the
events so before that they have to done cost benefit analysis. It will be based on income
generation and visitors expenditure. Global events such as 2012 Olympic, provide greater
economic life to the host country and increase profit due to increase tourism opportunity, trade
and business development.
 Social or cultural impact on events: It positively impact the event organization because
society get the message and implement within community for the development (Walton,
Longo and Dawson, 2018). These events will helps the country to increase awareness
regarding their social or cultural values.
 Environmental impact on events: Event organization use triple bottom approach where
they have to focus on social, environmental or economic factors which is very important
to analyse. Event management company have to manage all the activities according to the
requirement of client and under budget.
6. Review management strategies to support global events and its development
Under the review management strategy, event manager ask other people to give review
regarding their arrangement and other services which they offer in order to satisfy their clients.
Review management strategy will provide future opportunity for their business and it will further
inform to the other parties in order to develop marketing strategy to grab this opportunity.
With the help of review management, event organization able to take online review from
various platform such as company's website, social media sites etc. It is not only beneficial for
the customer, it is beneficial for the customer also because with the help of rating, review or
feedback they are able to take quick decision. Now almost every organization use this strategy to
review their services and improve through analysing its further effects.
With the help of this strategy, event manager take review and used in further decision
making process which impact production as well as profitability. It is required for further
expansion or development or business.
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According to the study of BrightLocal's Consumer review survey 2018, 86% customers
read review for local business. Basically, customer review impact the organization as well as
other client's decision. Now a days individual done intense research about every action they
going to do in the market.
7. Critically evaluate management strategies which used in event industry
It has been critically evaluated that, there are various management strategy that used by
event industry for the successful planning of events. Initially organization have to clear event
vision because further they have to perform accordingly and formulate strategy as well. Before
implementing any strategy, they have to analyse required time for the completion of any event.
Basically, event manager have to follow various strategy such as developing budget, crisis
management plan, Plan B for any circumstances (Weber and et.al., 2016). In the event industry,
they have to develop goals & objectives for each event and share with each members so they all
are perform in order to achieve common goal or objectives.
8. Critically review the impact of global events on different level of the environment
Global events affect the environment of different level such as 2012 Olympic and 2018
National football league (NFL). NFL will host by South Korea and further they host FIFA world
cup in Russia. Number of mega events increased and it will provide huge fame or success to the
people who involved with this event. Global events will create interest among the people which
make them connected through this event. These events impact different level of environment
such as population, community, ecosystem etc. Global event positively as well as negatively
impact the society, environment and economy.
PART B
Covered in PPT
CONCLUSION
From the above discussion, it has been concluded that global events impact whole world
as well as individual knowledge or power. Types of events also matter which influence society
and some specific communication. Sports event influence those people who have interest in this
filed so they take part in these types of events and make sure that it helps in improving their
knowledge regarding sports activities. There are various factors such as demand, change in
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technology will impact the event and make this successful event which satisfy their clients.
Along with this, review management strategy provide future opportunities.
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REFERENCES
Books & Journals
Cabrera, L. F., Jones, M. B. and Theimer, M., 2011. May. Herald: Achieving a global event
notification service. In Proceedings Eighth Workshop on Hot Topics in Operating
Systems (pp. 87-92). IEEE.
Cornelissen, S., 2017. The global tourism system: Governance, development and lessons from
South Africa. Routledge.
Holik, F. and et.al., 2015. April. The deployment of Security Information and Event
Management in cloud infrastructure. In 2015 25th International Conference
Radioelektronika (RADIOELEKTRONIKA) (pp. 399-404). IEEE.
Konstantaki, M. and Wickens, E., 2010. Residents' perceptions of environmental and security
issues at the 2012 London Olympic Games. Journal of Sport & Tourism. 15(4). pp.337-
357.
Lundh, A. and et.al., 2017. Industry sponsorship and research outcome. Cochrane Database of
Systematic Reviews, (2).
Reic, I., 2016. Events marketing management: A consumer perspective. Taylor & Francis.
Sallis, J. F. and et.al., 2016. Progress in physical activity over the Olympic quadrennium. The
Lancet. 388(10051). pp.1325-1336.
Smith, A., 2014. “De-risking” East London: olympic regeneration planning 2000–
2012. European planning studies. 22(9). pp.1919-1939.
Walton, H., Longo, A. and Dawson, P., 2018. A contingent valuation of the 2012 London
Olympic Games: A regional perspective. Journal of Sports Economics. 9(3). pp.304-
317.
Weber, J. S. and et.al., 2016. Management of adverse events following treatment with anti-
programmed death-1 agents. The oncologist. 21(10). pp.1230-1240.
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