Global Events: Factors, Impact and Management Strategies

This report provides a comprehensive analysis of the global events industry, encompassing its structure, organization, and the diverse types of events it encompasses, including sports, music, and business events. It delves into the factors that influence the development of the event industry, considering social, cultural, political, and economic aspects. The report evaluates the value, impact, and legacy of various events, such as music concerts, sports tournaments, and business conferences, highlighting their influence on revenue generation, tourism, and economic development. Furthermore, it examines management strategies, including the Balanced Scorecard, used to support event development and assesses the impact of the macro environment on the global event industry, affecting organizational behavior and decision-making. Finally, the report includes a SWOT analysis to evaluate the successful planning of such events.

GLOBAL EVENTS

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1 Diversity of global event industry including its structure and organisation and role of
different types of events in society. ............................................................................................1
P2 Factors that influence the development of event industry. ....................................................3
LO2..................................................................................................................................................4
P3 Evaluation of value, impact and legacy of events..................................................................4
P4 Review management strategy used to support event devlopment..........................................6
LO3..................................................................................................................................................7
P5 Impact of macro environment on global event industry affecting organization behaviour
and decision making....................................................................................................................7
LO4..................................................................................................................................................8
P6 SWOT analysis for evaluating successful planning of such events.......................................8
CONCLUSION..............................................................................................................................10
REFERENCES .............................................................................................................................10

INTRODUCTION
Global event is set up or activity taking place in a certain place having some important
criteria for the purpose of entertaining people or spreading awareness to people from around the
world about something specific around the world. These activities involve awareness about
sports events, entertainment by music concerts by various artists or even business conferences
spreading awareness about several business activities or opportunities that impact their
happenance or implication around the world. The report will cover diversity of global event
industry based on structure, role and events surrounding. Also, the factors influenced the event
industry globally will be addressed. Further effect of these events on different environment
stages will be assessed along with review strategy for development of these events globally. The
effects of these events in macro environment is evaluated and it's reciprocation on organizational
behaviour and decision making. Finally, implication of internal and external analysis will justify
the criteria for planning of such events to attain or aim success (Müller and et.al., 2016).
LO 1
P1 Diversity of global event industry including its structure and organisation and role of different
types of events in society.
Global event industries organises various types of events at global level. Event industry
includes events of all size from Olympic down to business breakfast meetings. The event
manager is a person who plans and executes events, manager takes all responsibility which
includes, overall event design, brand building, marketing and communication strategy. Global
event industry is much diverse as diversity is good for business , brings new ideas, established
ways of working. It includes people from different countries, the events are organised in different
countries including people of diverse culture (Diffenbaugh and et.al., 2017).
Event industry is the one of the fastest growing industry in the recent times. The company is
organised in such a way that on the top it is the client/stakeholder. Who reach or contacts event
organiser and after that, event manager makes administration and operation of the task, ie, what
are the procedures to follow to execute an event, how activities will be managed employee. And
after all that process marketing is done by the event manager for a particular event. The event
management has to do effective marketing so that information about the event is reached to
maximum people and more public can attend the function (O'shea and et.al., 2016).
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Types of events which are organised by global event industry are-
Sports events
Various types of sports events are been organised by by global event industry. Cricket
tournaments and football tournaments are been arranged by the company. In cricket world cup of
20 overs game is been organised by this industry. Another sports events like basket ball and
badminton also been planned by event management industry. Biggest sports events which the
industry organised are Fifa world cup, Olympic games. Uefa champions league and many more.
Music events
Event industry organises various music events in a year. In the music events musician
and singers from different countries come and perform. Singers from different diversity come
and perform so diverse type of music is been heard at these music events. The event manager
makes arrangement about which singers and musicians are to be invited. Artist from various
countries are been booked in advanced so that the function runs in smooth way. Rock music
festival is a large music concert, which features multiple acts performing on diverse range of
rock music. This event is one of the biggest event which is been arranged by global event
industry (Richards and Colombo, 2017).
Business events
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Various types of business events is been planned by global event management industry. It
is been organised at global level so entrepreneurs from different countries are invited, they come
and discuss their business ideas. All the ideas are been discussed about new start-ups and
conferences are been held. Some of the events which are held by global event company are
world business forum 2018, annual global export finance conference and the Canada premium
security professional conference.
P2 Factors that influence the development of event industry.
There are various factors which influence the development of event industry localy and
globally, such factors are as follows-
Social and cultural
Social factors includes personality, attitude, lifestyle of people. Diversity impacts the
event management company as people from various countries come to attend and an, so it is
challenging for an event company to manage all people, because the language spoken by them is
different and value and preference of people are different so management industry have to make
sure that any activity in the event may not hurt the sentiments of public (Rio and Bertelsen,
2018).
Positive impact-As over the years people are becoming more healthy continuous at events, so for
that event committee has to make sure that the environment at the event must be healthy and
foods or beverages given to people must be of good quality. However, this also impacts the
event company as by providing health quality foods the prices of events will be high. This
factors impact the event industry at local as well as international level because at bothy levels
social factors impacts, at international level there is a great cultural difference which the industry
has to face.
Negative impact- The tradition followed in one country is different from the others, so this assist
the event management industry in organisation any function, as they have to arrange the task in
that manner that is suitable for all types of people and may not hurt the beliefs and sentiments of
public.
Political factors
Positive impact- There are various political factors which affects the business. Several aspects of
government policy affects the working of event management industry. Political factors impacts
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the development of event industry as the government policy, political stability and taxation
policy. The event industry has to make all the policies according to the government concern and
if government makes any changes in the regulations the company also needs to follow the same.
Negative impact- Taxation policy impacts the business as high tax charged will reduce the profit
of the company. So this impacts development of event management industry as they have to
make sure that they have enough funds available so that the company earns desire amount of
profit after paying all taxes (Taqueti and et.al., 2015). Corruption also affects the working of
event management industry as the passes of an events are sold in black by some persons, so this
decreases profit of the company.
Economic factors
Positive impact- Economic factors are determinants of country's economic performance. These
factors includes economic growth rates, exchange rates, inflation rates, interest rates, Event
management industry impacted by the economic factors as when the inflation arises the company
have to make changes as they have to make new financial policies so and increase the budgets so
that they can continue the business.
Negative impact- Changes in exchange rates affects the event company as people from different
countries buy the event ticket so due to change the prices offered are suffered. This impacts the
purchasing power of the people as high prices charged will reduce the purchasing power and thus
impacts the profit of event industry.
LO2
P3 Evaluation of value, impact and legacy of events.
Music event
Various types of music events are been organised by event management company. The
music event impacted in such a way that it creates awareness about music to the people. The
music concert develops interest of people in music, by organising music event more revenue is
generated by the company. Talents from different countries comes and performs at one place this
benefits public as they can enjoy various types of music at one place. By listening to other
country's music and songs people get aware about other countries music. The music event
displays cultural values of the country as this promotes the music of country in which they are
organised (Van Dijk, 2019). Music events creates legacy as ones a event held at one place creates
its legacy. People remember its name for a longer time. For example, legacy of Michael Jackson
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is still continuing. Music festivals are often sees as the key drivers of countries economy, people
come from various countries so more turnover is created by the company and more revenue is
generated, thus assist in overall development of economy.
Sports events
Various types of events are organised by event management industry. As football match,
cricket match, basket ball match etc. the purpose of organising sports event is to create
awareness about different sports which are been played in different countries. Sportsperson from
various countries come at one place and play the game. Sport event give opportunity to those
talent which are capable of performing, they get a great chance as they can come and show their
talent to the world. Sports event impacted in such a way that it helps in generating revenue as
more tourist come to watch the event organised, this promote tourism also and helps in creating
more revenue. Organising sports event also helps the investors in making money, they get high
rate of interest from the planned events. Its gives chance to all people as sponsor, media and
stake holders as they can make huge amount of profit through this sports events. Event created at
one place creates a sense of legacy, ie, it is played for a longer time and remember by public.
One of the best examples to discuss the legacy of events is the Olympic games (Viehoff and
Poynter, 2016).
Business events
Business events are events which takes place in the course of normal operations of a
business that reoccur as a business process executed. In the business events business man from
all the world come and gather. Big entrepreneurs from different countries comes and discuss
about their business, new ideas are shared and discussed which helps people who want to start
new business. Ideas are shared that how business can be expand, new strategies which assist in
expansion of organisation, all these things are discussed in the business events. This type of
event gives an great opportunity to businessman as they can come and promote their
organisation. By organising such event huge amount of profit is generated as big businessman
from the globe comes, people from all over the world come to attend that function so it helps in
creating huge revenue, high ticket prices are charge from the visitors. This also creates legacy as
the event is sustainable for a long time, it has great impact on the investors as they get high rates
of interest on the investment they made. By organising such events the economy of county is
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boosted because huge crowd come to attend the event so large amount of funds are raised from
the public (Zhang and et.al., 2019).
P4 Review management strategy used to support event devlopment.
Balance scorecard(BSC) Balance scorecard is a strategic performance measurement model
which is used to translate mission vision of actual action. This model includes different
perspectives to evualte thye measurements of events.
Financial perspective- financial perspective uis very important for an organisation to analyse
that the project is completed within the given budget. By this the financial measures can ne
analysed and any changes required can be made.
Customer perspective- The customers perspective is about the needs of the customers or
audience at the event. The events are organised according to the needs and interest of consumers
this isn important to evaluate the success of an event.
There are different steps are included in this process which are- setup vision and mission
of the scorecard, perform a stake holder analysis to measure expectation of stakeholders, design
critical success measures, translate strategic objectives in goals, set up key indicators to evaluate
the completion of goals, determining the values of objectives that are achieved and last seep is
translation of operational activities in operational activities (Horne, 2017).
Corporate environmental management
There are main three steps of CEM strategies which are proactive, preventive and
reactive. For each stage practices are designed which are important to full fill measures of model.
Practices explained for proactive stage are development of effective supply chain, circular flow
in the production system, transportation of resources, use of life cycle analysis and development
of skill supply chain. The other stage is preventive stage. This stage includes effective use of
resources, development of operational efficiency and selecting right suppliers. Ths last step of
this model is reactive stage. This phase involves the practices like obey the laws, right use of
technology ie, advance technology, proper solution of waste produced in the manufacturing
process and consideration of environmental measures for the event.
Role of government
Government is one of the most important stakeholder in the event planning and
organizing process. Government plays important role in the event launching process. Mostly
huge size events need large size area to organize it properly. To use the public property for event
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it is compulsory to take permission of government authorities legalize the event. Thisn is
important for company to provide information to government to make them aware of what will
be happen in event. This will prevent legal action against the event. This is how government can
play crucial role in successfully launching an event (George, Ray and Kumar, 2018).
LO3
P5 Impact of macro environment on global event industry affecting organization behaviour and
decision making.
The occurrence of global events are affected by macro environment varying from place to place
moulding organizational behaviour and decision making. These factors are affected due to
following-
Political – These factors displays the involvement of government in certain economy or industry.
The occurrence of global event such as sports, music or any business activity will have to
consider government policy, political stability or instability, foreign trade policy, taxation policy,
corruption, trade restriction along with labour and environmental law. The difference in political
factors of different countries varies affecting the organizational structure parameter affects the
decision making and organizational behaviour.
Economic – The global event industry is affected by economic factors of different countries
having different economic growth, inflation rates, interest rates, exchange rates, along with
disposable income of consumers and unemployment rates. The global event industry might have
chances to earn several currencies along with stabilize its economic growth but on the other hand
variances between nations based on their economic growth or currency value might affect the
factor of decision making and organizational behaviour (Zhang and et.al., 2019).
Social – The global event industry entertaining people from different demographic cultures,
norms, cultures along with cultural values in which the industry operates in global aspects
varying in career attitudes, health consciousness along with different cultural values. The event
industry working in different areas has to adopt and mould their organizational behaviours and
decision making based on beliefs of the place. The activity helped them gain their cultural values
and develop values but on other it might create fuss due to cultural differences (Müller and et.al.,
2016).
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Technological – Variances between availability and adaptability of technology in various
cultures that are technology incentives along with awareness in market vary based on different
research and development programme in various places might fluctuate structure of organization
and affect the decision making process of the place. The availability of different technology in
different region will affect the organizational structure having an impact of decision making of
global event industry (Diffenbaugh and et.al., 2017).
Environmental – The increased scarcity of raw material, carbon footprints along with pollution
targets as different places have different weather, climate along with environmental off set
affecting the farming, tourism and several insurance factors will affect the global event decision
making along with organizational structure as there might be different beliefs on their
adaptability. Global events performing their business might have different available resource and
climatical changes that may affects decision making and structure of organization (O'shea T.J
and et.al., 2016).
Legal – The change in laws and regulation in different parts of the world such as discrimination
law, copyright and patent laws, consumer protection laws, employment laws in different
countries may affect the working condition of Global events as they have to develop different
strategies in different working conditions. The organisational structure might also get affected by
this factor based on the position of employees and flow of power resulting in change in decision
making and working of the organization styles. The Global event must ensure they posses legal
advisor to address those things and safeguard them from any hap pence of mis conduct in their
working environment (Richards and Colombo, 2017).
LO4
P6 SWOT analysis for evaluating successful planning of such events.
The SWOT analysis have been done for Olympics which will has been held in year 2018.
Planning for successful evaluation of Global events will require following analysis.
Strengths -
The successful planning of these events require following strengths.
 Encourage participation from the best sportsman, musicians and business influential
from around the world ensuring viewership of their fans and other people too.
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 Host country gets chance to introduce their culture and practices all over the world
promoting their nation as well along with boosting of their tourism programme.
 The event can prove to be celebration for the progress of human race that has been made
so far and will go on for a long time developing sense of humanity in participates and
viewers from round the world (Rio and Bertelsen, 2018).
 Invite famous brands to co sponsor their favourite musician and sport personality as
these are the best practices for promotion.
 Enormous media coverage for promotion of such type of event so that people from
around the world will know what going on around the corner.
W
Planning for such type of global events have such type of weaknesses.
 Incidents of doping at times might cause harm and put questions upon credibility of such
type of event.
 Various countries are boycotted due to political reason for act of fraud, promotion of
narcotise or such illegal or unethical activities (Taqueti and et.al., 2015).
 The events can several times be treated as places to perform terrorist activities as they
hold a lot of audiences and important people such as celebrities, politicians, business
tycoons from round the world.
O
Planning and implementation of such type of even might gain several opportunities from
around the world.
CONCLUSION
 Promote various sports mainstream which are not famous in certain country and develop
interest in people from round the world.
 The interest of fans in these types of events can be restores by fans as the event allows lot
of fas from round the world to socialize along with the musicians can have a lot of fans in
single platform from all around the world and share it's experiences and talents.
 Sportsman from various background will promote its skills and abilities in type of event
to enormous audiences will boost up morale of several individuals from around the
world(Van Dijk, 2019).
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Occurrence of planning for these events might face several threats to people from all
around the world.
 The threats of terrorist or any other hate group might happen there and put ungenerous
life in trouble of its audiences of attacks risking life of enormous audiences (Müller and
et.al., 2016).
 With the popularity of enough sports in today's culture their might be chance that people's
favourite sportsman's may miss such a type of event or same in the case of musicians that
with so much reality shows are going on a musician might miss these events eliminating
the interest of their fans.
CONCLUSION
The above study concluded that the event industry is following line structure along with
in several types of events such as business meets, music concerts, sports events and business
meet in global context that helped in effective learning, generating employment along with the
generation for revenue for nation. These events are affected by political stability, government
policy along with other taxation other than that these events are also affected by economic
factors such as interest rate, growth rates, inflation and deflation rates affecting earning of the
events. Further social impact such as culture and beliefs of people reflected the outputs for such
type of events. Further technological advancement in country affected events performances and
patterns. These events also have several strengths such as promotion of culture, where the artists
can show their instalment the world along with having culture backwardness and threats of terror
attach as well.
REFERENCES
Diffenbaugh, N.S. and et.al., 2017. Quantifying the influence of global warming on
unprecedented extreme climate events. Proceedings of the National Academy of
Sciences. 114(19). pp.4881-4886.
George, B.G., Ray, J.S. and Kumar, S., 2018. Geochemistry of carbonate formations of the
Chhattisgarh Supergroup, central India: implications for Mesoproterozoic global
events.Canadian Journal of Earth Sciences. 56(3). pp.335-346.
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