Global Events: Industry Overview and Strategic Management

This report provides a comprehensive overview of global events, exploring the diversity within the industry, including local, major, hallmark, and mega events, as well as cultural, art, business, and sports events. It examines the factors influencing the development of the global event industry, such as globalization, employment opportunities, audience demand, technological advancements, and innovation. The report further analyzes the values, impacts, and legacies of global events, encompassing social, cultural, environmental, and economic dimensions, while also discussing both positive and negative consequences. Finally, it outlines essential management strategies, including setting objectives, budgeting, resource utilization, leadership, technology integration, and the importance of skilled personnel and motivation for successful event planning and execution.

GLOBAL EVENTS

Table of Contents
INTRODUCTION ..........................................................................................................................2
MAIN BODY...................................................................................................................................3
LO1..................................................................................................................................................3
P1- Diversity of global event industry ........................................................................................3
P2- Factors influencing ..............................................................................................................4
LO2..................................................................................................................................................5
P3- Values, impact and legacy ....................................................................................................5
P4- Management strategies..........................................................................................................7
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9
INTRODUCTION
Global events refers to events of a limited time period that have global presence. It
requires significant investment from the public in which it is being hosted and have an impact on

the population and the environment which is being built (The OECD Recommendation on Global
Events and Local Development, 2019). This is an organised event involving individuals from
different countries from across the world. Present report will brief into diversity of global events
and factors which have influenced its development. It will evaluate the value, legacy and impact
of event on environment. It will brief into assessment of impact of macro environment on
global event industry and will lastly evaluate with essential for successful planning of global
events.
MAIN BODY
LO1
P1- Diversity of global event industry
Diversity is being considered as relevant to the meeting event industry for a number of
reasons and helps in creating effective strategies for event to be organised by London Excel
Exhibition Centre. There are many types of and ways of categorising events, including by
content, form and size. Events are being often characterised according with size, form and
content. It includes huge range of diversity of events such as
Local and community events- These are the events where most of the communities gives a host
of events and festivals that are being targeted to the local audiences and role which are staged
primarily for the social, entertainment and fun value. Hosting this events provide with huge
range of benefits, engendering pride in community, creating sense of place and feeling of
belongingness. The role of this event is it helps exposing individuals to new ideas and
experiences and leads to encouraging diversity and tolerance.
Major events – These are the events which are being expected to attract in excess of 200
individuals. It can be simply understood as events that by media interest and scale are capable of
getting large number of significant audience, benefits for economy and coverage by media.
Example of this can be hosting British formula one Grand Prix and other. The major event are
being considered with following criteria such as it needs to involve competition between teams
and people representing number of nations (Qie,2019).
Hallmark events- These are tourist events such as fairs, expositions,sporting and cultural events
of international status which are being held on either one off or regular basis. Role is to provide
host community with an opportunity with securing of great prominence in market place of
tourism. These refers to events that has become so identified with spirit of city, town and

regions that has become synonymous with the name of region and gain widespread awareness
and recognition. The example of this are Carnivals in Rio which is being known throughout the
world as expressions of vitality of regions.
Mega events – These are the events which are being so large that they affect with economies and
in global media. These are generally developed following competitive bidding. It includes
hosting Olympic game, FIFA world cup and other
Cultural events- These are the events that represent the culture of the country. These are being
increasing as they are being linked with tourism to generate income for host communities and
activity of business (Ridder, 2020).
Art festivals- These are the events that share number of characteristics which includes intense
artistic output and a clear time specific activity with clear purpose and directions.
Business events- These include conferences, meeting, exhibition and which are being related
with events that are being corporate.
Sports events -These are being related with sports activities which includes events such a
Olympics, common wealth game and others.
The structure encompasses various formation of teams who are being responsible fro
different task being assigned to them, in compliance with industry association. The structure
also relates having event management company who act as mediators to between supplier and
government of country to host events and ensures smooth functioning.
P2- Factors influencing
There are various factors which have influenced the development of event industry
globally such as Globalisation which helps in opening of different economies all across the
world. This helps in building with effective relationship between various countries and leading to
development of event industry. These have led with how knowing different methods of working
and hosting events which have led to improve in various areas that has strengthen this industry
worldwide.
Another factor relate with generation of employment opportunity all across the industry .
It has led with removing of unemployment as a result create lot of job in marketplace for
individuals (George and Ray, 2017). This in turn has resulted in growth of industry as it has
attracted individual who are highly talented and qualified to achieve their results as a implication
lead with growth of event industry. By creating employment, it has led with engagement of

individuals who are being contributing to the economy , hence forth lead to growth of event
industry.
The factor relates with huge generation of audience and population demand to conduct
activities that are fun loving and entertaining which have led to formation of various event
management company which in turn has resulted in the growth of event industry. Since there is
being high demand for hosting the events, it has increase the sale revenue ad profitability of
various companies, which has serves with foundation of growth .
The major factor considered for the growth of event industry lies with technological
advancement. This has helped in getting valuable insights about the need, wants and
requirements of customer and fulfilling those in manner which helps in deriving satisfaction of
clients. These factors led with effective access to information and allows with managing ease of
operation which in turn has led with growth of event industry all across.
The other factor lies with constant innovation and creativity which have changed the
perspective how events have been organised in traditional time and now in modern times. This
factor has serve with capturing and drawing of attention of population who are being involved in
the event, thus have led with the increase and growth in event industry all across (Diffenbaugh,
2017).
The factor also encompasses with effective and robust supply chain management, which
have led to availability of various equipments and material used to carry out the event operation
and making it a successful one and increasing the growth of the industry.
This have grown as individual who earn a lot want to spend the same whereby it is being
released in form of carrying and organising various events as a result leads with growth of
industry.
LO2
P3- Values, impact and legacy
Value is being concerned with that the events touch with every aspect of individuals
social, economical, cultural, environmental and political aspects. This helps in increasing the
involvement of business and government which has led with increasing emphasis on economic
analysis of event advantages. It states that climate has given rise to detail studies of events and to
application and development of high sophisticated techniques of economic evaluation and

analysis. It states that cost of event failure can be disastrous, which turn positive benefits into
unfavourable costly lawsuits and political embarrassment.
There are various positive and negative impact of global event in environment in which
its operate. It leads with shared entertainment experience with the events being organised. It
impact and result in intense community and national pride. It helps with broadening individuals
cultural horizon and expose them with new and challenging customs, people and ideas
(Valaskivi, 2019). The global events has the power to challenge with the imagination and
exploring of various opportunities. It leads with providing of entertainment in friendly
environment.
It leads with increase in number of volunteers responsible for organising the event who
are highly creative and innovative in making success of the events. These can lead in forming
various strategies for cultural diversities.
For social and cultural it has positive impact such as Revitalisation of traditions which
helps in building upon the community pride, proper validation of groups in community. It leads
with increase in participation of community. It encounters with introducing new and
challenging ideas to host the mega and global events all across. It is of the positive impact as it
helps with expansion of different cultural perspective.
The negative impact relates with community alienation, can be in regards with
manipulation in various arrangement. It directly affects the successful hosting of events.
The environmental and physical impact leads with showcasing of infrastructure legacy,
with urban transformation and renewal which lead with development of economy. It has more of
negative impact such as environmental damages leads to more of harmful gases. It leads to
increasing awareness about the reducing in carbon footprints and effective ways to dispose off
the waste effectively which serves with positive impact on the environment (Claar, 2018).
The negative can as it involves huge audience it lead with more of vehicles to travel, that
increases with air pollution in region as a result leads to frequent environmental and climate
changes. It leads with huge cheering to participants as a result leads with high noise pollutions.
For economic impact it leads with regions destination promotion and increase in visits of
tourists. It leads with increase in higher tax revenue and leads to creation of job opportunity. It
may lead with negative impact if the event is not being successful than unfavourable image of
hosting region and leads with huge amount of financial loss for economy.

P4- Management strategies
There are various management strategies which is used to support responsible event.
It can be by Setting of objectives and goals where the event can not begin without any
goal and objective. It needs to have the purpose. It is being required to formulate goals and
objectives which will help in alignment of activities and task. Once it is being clear, planning can
be done for strategy by focusing on the goals.
Strategy relates with creating of a budget. It is the another crucial part of organising the
event. Sooner, it is better it helps in effective implementation of various activities. It is to define
what clients what to achieve from the event. Management needs to review what cost will be
allocated to different activities and plan accordingly(Ruffault, 2018).
The strategy requires to understand the resource and utilise the same in manner to
achieve the result in productive manner. The resources needs to be utilised in effective manner
to accomplish the goals. It include planing on the resources such as Money, time, support
services, staff and others
It leads with having the leadership which guide and direct in proper manner that
individuals and volunteers understand what will be there role and responsibilities in successful
implementation of event . It is required to give prior training as sample of what uncertain
condition can arouse of the event and handling that in a manner where no flaws and errors
hinders with successful completion of events.
The another management strategy relates with having high end and effective
technology. It will helps in getting valuable insights and requirements about the events and will
establish effective modes of communication between various parties to execute the event in
proper manner.
It is being required to hire individuals who are highly talented, skilled and able to
understand the challenging environment and support with the dynamics. It is being required on
the end of management to continuously motivate individuals and encourage the same that leads
with their focus, commitment and dedication to assigned role and responsibilities. It needs to
have individuals who are being highly creative and innovative as they will helps in effective
decision making progress and leads to solving of various problems that are being complex in
nature (Tanaka,2017).

The management of hosting regions needs to be highly active on social media and
increase with the marketing and promotional efforts. It will leads to attracting the potential
audiences and leads with high margins and successful implementation of event.
It is being required to have effective implementation of team building. It will leads with
coordination among various business activities and leads to getting task done with immediate
effect. It will lead to build synergies and building of effective relations with various parties and
helps in considering various ideas, opinions and viewpoints of other to take the decisions.
CONCLUSION
From the above report it is being concluded that it requires huge end of planning in
making the global event a successful one. It requires planning on end of successful management
of manpower, audience to various other. Report is being concluded with diversity of global
events with factors determining the development of event industry. It has explained with various
impact of global event in environment. It has briefed with management strategies for range of
global events. Presentation has concluded with positive and negative impact of macro
environment and lastly with SWOT analysis to effective planning.

REFERENCES
Books and Journals
Claar, D.C., and et.al ., 2018. Global patterns and impacts of El Niño events on coral reefs: A
meta-analysis. PLoS One.13(2). p.e0190957.
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. and Ray, J.S., 2017. Provenance of sediments in the Marwar Supergroup,
Rajasthan, India: Implications for basin evolution and Neoproterozoic global
events. Journal of Asian Earth Sciences. 147. pp.254-270.
Qie, W., and et.al., 2019. Global events of the late paleozoic (early devonian to middle permian):
a review. Palaeogeography, Palaeoclimatology, Palaeoecology. 531. p.109259.
Ridder, N.N.and et.al ., 2020. Global hotspots for the occurrence of compound events. Nature
communications 11(1). pp.1-10.
Ruffault, J., and et.al ., 2018. Extreme wildfire events are linked to global-change-type droughts
in the northern Mediterranean.
Tanaka, T., and et.al., 2017. Global simulation study for the time sequence of events leading to
the substorm onset. Journal of Geophysical Research: Space Physics. 122(6). pp.6210-
6239.
Valaskivi, K., and et.al ., 2019. Traces of Fukushima: Global Events, Networked Media and
Circulating Emotions. Springer.
Online
The OECD Recommendation on Global Events and Local Development.2019[Online]. Available
through<https://www.oecd.org/regional/global-events-recommendation.htm>