Global Events: Industry Analysis, Impacts, and Strategies Report

This report provides a comprehensive analysis of the global events industry. It begins with an introduction to event management, defining the process and outlining the report's scope. Part A delves into the roles and structure of the event management industry, categorizing events by type, size, and purpose, and identifying key factors influencing the industry. The report then evaluates the value, impacts, and legacy of global events, particularly focusing on their environmental consequences, including physical, economic, tourism, and social impacts. It also reviews various management strategies, such as the Balanced Scorecard and Corporate Environmental Management models, used to support responsible event development. The report concludes by emphasizing the importance of collective efforts and strategic planning in executing successful events, highlighting the significance of considering client preferences and adapting to the evolving business environment. The document is contributed by a student to be published on the website Desklib, which provides all the necessary AI based study tools for students.

Global Events
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Contents
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................3
TASK 1............................................................................................................................................3
P1 Event management industry roles and structure.....................................................................3
P2 Factors effecting event management industry........................................................................5
TASK 2............................................................................................................................................6
P3. Evaluate the value, impacts and legacy of a range of global events on the environment in
which they operate.......................................................................................................................6
P4. Review management strategies used to support responsible event development for a range
of global events............................................................................................................................7
TASK 3 & 4.....................................................................................................................................8
Covered in PPT............................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Event management is define as the process of project management which are executed in
real life scenarios (Weber and et.al., 2020). Basically it is term as the approach in which
activities are performed in for conducting parties, special occasions and many other festivals. In
order to conduct an event, different strategies and plans are been formulated which includes
decisions regarding budget, selection of place, decoration, theme of event and many other
factors. Event management is a systematic process where activities and tasks are carried in
coordination and cooperation with team members in order to make the event successful. The
topics covered in the report are operational activities of event management companies, structure,
type of events and factors effecting business environment of event management firm. The micro
and macro factors are been identified and analysed which effect the operations of business.
PART A
TASK 1
P1 Event management industry roles and structure
Industries operating in this business environment have identified that there is wide scope
and success in this digitalized marketplace. In order to survive and get success in the marketplace
its importance for companies to adopt the digital technology in its operations and function
accordingly. Event industry has accrue success in this global marketplace that is from conducting
small events such as family events to big events such as fashion shows it has able to do its work
in most desirable manner (Zscheischler and et.al., 2020). Moreover the event management
companies are adopting latest technology and trends in its event operations in order to attract
wide range of audience. People are preferring event companies to conduct their special occasions
and functions as they are quite creative and innovative in their work. In context of event there is
no fixed features or characteristic, it totally depends on the desires and preferences of the party
who's event is been planned and conducted by the event companies. In general the events are
categorised in three phases which are described as follow-
On the bases of type of event: The type of event refers to the kind or form of event that
is type of event is further divided into two phases that are corporate event or private event.
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A corporate event refers to the type of event which is planned and executed by the event
company for official purpose or on behalf of corporate organisations or firms. Corporate events
are conducted either for commercial or non commercial purposes. Product launch, business
diners, etc are consider as commercial events where as discussions or decision making process
related to business expansion or growth in form of conferences are consider as non-commercial
events.
Private events refers to those events which are conducted to celebrate some special
moments or achievements of the people. The process of operation is quite complicated for event
companies as many factors need to be consider by them such as list of guest, venue location, type
of food, decorations and many more (Turner and et.al., 2020). Private events includes marriage,
birthday party, success parties and many more.
On the basis of size of event- The size of event differ according to the size of guests and
type of event that is size is recognised in four phases that are describe below-
Local events is defined as those events which are conducted at the level of community
that is the focus is on the entertainment of local audience. The primary purpose of this type of
events is to promote the sense of belongingness, peace, togetherness among the members of
society. For example, birthday celebration of Robert burns.
Major events refers to those events which are conducted at big platform and focus is to
involve wide range of audience in such events. For example, Glasgow's annual folk event
conducted in UK which promotes music that is celebrated as music festival.
Hallmark events refers to those events which are conducted to promote and symbolise
specific culture of the particular place. For example, Oxford literary festival.
Mega events refers to those type of events which are conducted at global level and
includes wide range of audience around the world and the large number of media teams for
covering the entire event (Westerhold and et.al., 2020). For example- Olympic games held in
London.
On the basis of purpose of event- In this context the events are executed mainly for two
purposes that are commercial and non commercial.
Commercial events refers to those type of events are conducted with the motive to fulfil
certain objective of the organisation that is it may be related to launching of new product,
marketing or advertising activities.
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Non-commercial events refers to those type of events which are executed for the social
benefit and not with the motive of making profits from such events. The charitable events which
are conducted for social benefit and for benefit of humans is considered as non-commercial
event.
Hence, execution of successful event is the result of collective efforts of team members.
The group of individuals work as one team and function in most effective and efficient manner in
order to make the event successful. The size of the event is one of the important factor in the
process of event as after determining the size, the place, theme and other things are determined
by the event team. In context of community event the work is perform after considering the
preferences of local people. The event management companies are well organised and has proper
structure of business (Moreno and Møller, 2020). These companies has various trained and
professional experts belonging to different files as event cover various aspects. It has multiple
skilled and specialised employees such as musicians, event organisers, etc.
Moreover the event company functions according to the requirements of the clients and
according to their needs and desires plans and strategies are been formulated by them and need to
be verified by the client before its implementation.
P2 Factors effecting event management industry
Event organising history is quite old as it is before the starting of mankind. With the
increase in living standards and civilisation the level of organising event has also increased. With
the introduction of digitalization and used of advance level of technology the social status of
people has increased which lead the demand for event organising companies. The event industry
has come in trend and is commercialised in the 19th century as the standards of people are high
and they want to formulate good image of themselves in the society. Moreover event industry
has the full support of government as it provides benefit to the government by contributing in the
economic growth of the country. Moreover tourism and the event industry are the two majors
contributes in the UK which has helps in the growth of the country. In context of UK, the event
companies has wide scope and has great opportunities in various sectors, mainly in sports. These
big events arr profitable for event firms and also beneficial to government as it provides support
in the economic conditions (Rutberg and et.al., 2014).
Moreover event management industry has positive impact on the other industries too that
is on hospitality and tourism industry. Globalisation and new policies formulated by government
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has opened up various options which are considered as opportunity and also has few threats
which have negative impact on the business of event management industry. Globalisation has
helped the event company by providing various new clients and new business opportunities. The
emergence of MNC's in UK marketing has created the need for corporate events and is quite a
big opportunity for event companies to capture large market area. Global concerns is also
contributing in the building of new ideas and helping in understanding the behaviour of clients.
TASK 2
P3. Evaluate the value, impacts and legacy of a range of global events on the environment in
which they operate
At recent business atmosphere, events are playing essential role for shaping business
surroundings which is related with value, effects and legacy of several events on society and
other components of enterprises ((Dada, Almar and Oladapo, 2020). In respect of present report,
there are many forms of impacts which are affected by events at global context. Some of those
are stated underneath:
 Physical and environment impact: Events has affirmative as well as adverse impact upon
business atmosphere as they are related with activities and functions of entity which are
needed to be based on natural surroundings. Events assists organisation in improving
transportation within areas as this renders services like private transports and many more.
Whereas on other side, this also form several kinds of pollution like usages of high bass
which creates noise pollution, utilisation of plastic cups which are answerable for
environmental pollution as well as many such aspects which cause damage to
environment.
 Tourism and economic impact: Events are those functions that are directly associated
with the development of tourism industry. This is impacted affirmatively on this
particular sector it is so events which is supported tourism by brining numerous travellers
to destination of entity. This may be monitored from illustration of IPL. This is
undertaken as events which bring many individuals for that person who are played from
across the world for seeing amazing tournament of cricket within many teams.
 Cultural and social impact: Events are undertaken to be key elements which are
answerable for managing communication and relationship into society in order to do their
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functions. There are many values, religions and others which are crucial for communities
and vital to be attained. Events assist societies for performing activities in efficacious
way and accomplishing their objectives associated with communication and appropriate
relationship. Also, there are large number of events like communal programmes,
marriages and many more which assists in achieving the objective of business as well as
manage functions effectively for effectiveness of events on community.
P4. Review management strategies used to support responsible event development for a range of
global events
There are many forms of management tactics that can be consider as well as basically
answerable for development of event which are stated underneath:
 Balance score card: This is considered as an efficacious tactics of management which
assists event industry to develop their performance level appropriately by adapting
efficient range of strategies, screening and representing tactics (Lu and Bonnerot, 2020).
Also, this is efficacious tool to foresee inputs level which are occurred by organisation.
So, gathering information is vital for acquiring qualitative results and settles down on
dynamic aspects. It is an aspect that is associated with breaking down enterprise
objectives that are sets in numerous criteria related to event. The representation of
business can also be performed with aids of balance scorecard.
 Corporate environmental management model: This is undertaken as the model that is
associated with business obligation for harming native surroundings. This beneficial
within capabilities development by which there can be maximisation into entity’s
function while undertaking entry in new marketplace, social fundamentals and many
more. In context of identifying climatic fluctuation affects on event, respective model is
much primary as it determined event’s organiser role & duties towards changing weather.
Bodies of government presumes that event is different from other one as there can be person
gatherings, exploring new ideas, innovative designs from wasteful items and assent can be
performed with aids government settings. Events is mainly used for authority on overall planning
and sustain the determine norms of business. The bodies of government prospect that main
liability for societal as well as political events across world. Many events is performed by
administrative as well as have affirmative impact on overall activities as can be societal
incorporation bodies.
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TASK 3 & 4
Covered in PPT
CONCLUSION
As per above report, this has been summarised that, Global events plays vital role within
nation as this has global reach and also involves many resource for accomplishing a common
objectives of collective efforts. Also, there many forms of event which has larger impacts on
performance of event industry. Additionally, this may be also monitored that these events has
their own practices which aids community and other stakeholders to maintain its activities and
obtain profitability with it.
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REFERENCES
Books and Journals
Weber, K. and et.al., 2020. Policy pragmatism: Qatar and the global events circuit. International
journal of event and festival management.
Zscheischler, J. and et.al., 2020. A few extreme events dominate global interannual variability in
gross primary production. Environmental Research Letters. 9(3). p.035001.
Turner, S.K. and et.al., 2020. Persistence of carbon release events through the peak of early
Eocene global warmth. Nature Geoscience. 7(10). pp.748-751.
Westerhold, T. and et.al., 2020. Global extent of early Eocene hyperthermal events: A new
Pacific benthic foraminiferal isotope record from Shatsky Rise (ODP Site 1209).
Paleoceanography and Paleoclimatology. 33(6). pp.626-642.
Moreno, J. and Møller, A.P., 2020. Extreme climatic events in relation to global change and their
impact on life histories. Current Zoology. 57(3). pp.375-389.
Rutberg, H. and et.al., 2020. Characterisations of adverse events detected in a university hospital:
a 4-year study using the Global Trigger Tool method. BMJ open, 4(5).
Dada, O. A., Almar, R. and Oladapo, M. I., 2020. Recent coastal sea-level variations and
flooding events in the Nigerian Transgressive Mud coast of Gulf of Guinea. Journal of
African Earth Sciences, 161, p.103668.
Lu, W. and Bonnerot, C., 2020. Self-intersection of the fallback stream in tidal disruption
events. Monthly Notices of the Royal Astronomical Society, 492(1), pp.686-707.
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