Global Events: Industry Diversity, Impact, and Management Strategies

This report provides a comprehensive overview of the global event industry, examining its diverse types, including business, sporting, social, and music events. It analyzes the structure and organization of events like the London Olympics 2012 and the Football World Cup 2019, evaluating their economic impact, value, and legacy. The report delves into factors shaping the industry, such as technological advancements, changing demands, global expansion, and future trends, while also assessing the positive and negative environmental impacts of these events. Management strategies supporting responsible event development are reviewed, along with PESTLE and SWOT analyses to evaluate macroeconomic and internal factors. Finally, recommendations for improvement and solutions to minimize adverse impacts are proposed, offering a holistic understanding of the global event landscape.

Global Events

Table of Contents
INTRODUCTION...........................................................................................................................1
PART A...........................................................................................................................................1
Examine the diversity of global event industry......................................................................1
Critically evaluating the key factors that shape the event industry........................................3
PART B............................................................................................................................................5
Evaluate the value, impact and legacy of a range of global events........................................5
Reviewing management strategies used to support responsible event development.............7
Critically assess the impact of global event on different level of environment and specific
management strategies............................................................................................................8
PART C............................................................................................................................................9
PESTLE analysis....................................................................................................................9
SWOT Analysis....................................................................................................................11
Recommendations for improvement and solutions for an event to minimize adverse impact13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Global events are the international communication agency which is actually built in order
to connect the brands as well as people with a live events. Thus, in the same way current report is
also helps to provide deep understanding related to global events. Moreover, global event also
benefited economy of the country and enhance GDP. The aim of this report is to increase
destination and share of the international events market by improving destination's economy. The
chosen event for this report is London Olympics 2012 and Football world cup 2019 which were
already held in London. Thus, report will describe the diversity of the global event industry,
which includes the structure and organization and role of different types of event in a society.
Further study will explore the factors which have influenced the development of an event
industry at global level.
Report will evaluate the value, impacts and legacy of a range of global events on the
environment in which events are operate and describe management strategies that is used to
support event development for the range of global events. Moreover, report will describe the
positive and negative impact of macro economic factor by using PESTLE analysis and then
describe internal factor by using SWOT analysis with an example.
PART A
Examine the diversity of global event industry
The global event industry in growing industry and as per the size and content, event
industry is divided into our types such as:
 Business Event: This type of event are occur in the context of business scenario and
some times, internal company meeting are also consider under the business events. On
the other side, conference and seminar are consider one of the most common example in
the business event where company provide helpful information to their stakeholders,
shareholders (Asada and et.al., 2019). This type of event are come under minor event
where a range of people (related to business) are invited.
 Sporting events: It is refers to the contest in which animals, people and machine
compete individually or with a team with a motive of winning. There are range of sports
event held at national and international level and that is why, it comes under hallmark
event. For example, Cricket world cup, while on the other side, FIFA Women's World
cup are major event.
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 Social Events: The main characteristics of this type of event is such that it involves a
public performance or entertainment and it is held at given place and time. Its main
purpose is to bring people together in a group so that they can be socialize. For example,
Housewarming party which is consider under minor events (Finkel, Sharp and Sweeney,
2019).
 Music Festival: It is the community event oriented where live performance of signing
and instrument playing with a theme such as classical music, folk, jazz. This type of
event is held at local and national level where people may come and enjoy. When this
event held at national level then it is consider under major event. For example,
Woodstock Music & Art Fair which attracted 5 lac people.
Structure of selected event:
London Olympics, 2012: This international multi- sport event was held from 27 July to
12 August, 2012 with a motive to benefit London and United Kingdom. The overall cost of this
event is 14.8 billion dollar and the worth of an event is around 15 billion (London Olympics,
2012, 2019). As compared to other event, it is consider the most expensive Olympics in history.
Thus, government also spends lot of money, so hosting Olympics in London will assist to boost
the travel and tourism during Olympics and hopefully after that. On the other hand it also boost
prestige of a country and enhance GDP of country as well.
Football World Cup 2019: This event is also held at international level in which 24
women national team represents member association of FIFA. The cost of this event is 4 million
Euro and the event also earned around 10 percent more from its spending. Moreover, this event
is actually introduce or organized with an aim to regulate and promote sport at global level. The
event also creates positive impact upon the economy of the country because It also attract range
of tourist and further, encourage sports in UK (Eginli and Narin, 2017). Also, this event also
make UK better fitness standards and less obese by reducing the demand for healthy care, this
also creates direct impact upon economy by lower down the rate of unhealthy people.
On the other side, from the statistics it is analyzed that London Olympics 2012, boost the
UK economy by £9.9 billion at national level. While on the other side, at local level, London
Olympics, 2012 end up the costing with a huge tax payer but £1 billion is less than 0.1% of total
GDP. Thus it is consider one of the long time opportunity in order to host the most important
sporting event. As UK also spend £80 billion in health care every year but did nit spend £1
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billion on promoting this event (London Olympics, 2012, 2019). While both event also generate
thousands of job in Great Britain and contribute to raise GDP of the country. On the other hand it
is also predicted that due to such global events, the GBP could reach 41 billion by 2020 with a
positive impact the Games had on new business contracts and good foreign investment as well.
In the context of Football World Cup, 2019 make contribution of £11.8 billion to the UK
economy and also 6239 people were employed, while indirect activities also generated £620
billion that also support to enhance GBP of UK (Football World cup, 2019, 2019). Overall,
global event creates positive impact upon economy at local, national and international level and
also enhance tourism as well.
Critically evaluating the key factors that shape the event industry
Global event are held for two reason i.e. these event helps to bring cultures together and
this in turn also assist to make other understand about each other culture. On the other side, this
global event are actually based on historical event through which it attract range of public
towards it. Moreover, global events are also assist to raise the economy and tourism through
which cross cultural people mix and understand each other norms and ideas.
There are many factor that shape the event industry and some of them are as mention below:
The growth and emergence of event industry: One of the key factor that assist to shape
event industry in positive way. Such that majority of the public are actually depend upon the new
trends that are used by the company i.e. artificial intelligence which provide much needed event
assistance. Moreover, as per new trend, social media is also consider one of the massive impact
upon the event industry and this also support to shape it (Farid, 2019). For instance, whenever
new event is held, event organizer company may post enough information related to event, so
that range of public attracts and after completing the event, company may also take feedback for
the same. Moreover, in this digital era, technology also creates massive change in an event
industry such that application are designed so that people may come to know about the specific
event . Hence, the impact of media also allow the marketers in order to promote the services at
global level.
Demand and motivation for different events: As compared to last many years, the
demand of different events is increases. Such that people demand for new and unique event
which were never happened. Thus, for every event i.e. major and hallmark event, people demand
may varies. That is why, the trend in event industry is also changes, for instance, customization
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creates personalized event experience which allow event participants to introduce their
application that is used to sen questions and also giving audience the power to influence what
happens next (Gajjar and Okumus, 2018). Therefore, this shows that due to change in demand of
customers, event organizer or planner also introduce new things that helps to keep attract range
of public. While on the other side, event such as music festivals are also organized at grand level
in which people demand or uniqueness. That is why, event industry uses best sound system with
3D effect that helps to grab attention of range of customers. On the other side, as per the new
trend, people also increases their demand for every events. Such that in business events,
promotion of event is done at digital marketing platform in which company develop an
application that helps to let people know about meeting.
Global expansion and opportunities for events: This factor also help to shape up the
global event because an event creates range of opportunities for the public such that provide job
opportunities, attract new tourist. The same is also occur in London Olympics, 2012 which
provide range of job opportunities and decrease unemployment in UK. Thus, it creates various
new opportunity for people as well as society. This in turn assist to shape up event industry and
provide assistance in its growth as well (Jaimangal-Jones, Fry and Haven-Tang, 2018).
Moreover, on the other side, using the best marketing style will helps event industry to draw
attention of many customers and also develop further opportunities as well. For example, Cricket
world cups are organized at every 4 years at different country and this will help to attract tourist
and develop opportunities for the people as well as events. This major event also assist to
enhance the economy of the country and attract new tourist towards it that helps to shape event
industry in more better manner.
Influence on events and future trends in event industry: As the world is completely
depend upon the digital platform where everyone is depend upon new technology which also
influence an event industry. People demand to add new techniques within every event and that is
why, event industry uses new system such that customized learning opportunities for better event
engagement, Collaborating in the virtual world etc. Even it is also analyzed that there is a steady
growth in an event industry and it is also predicted that the market is increases from 7% more by
2025 (Getz and Page, 2016). In addition to this, it is further realized that many event focused on
sustainability that helps to shape the event industry in which event planner did not uses those
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things that affect the environment in opposite manner. Industry also uses recycled materials for
an event design and this small steps also reduce carbon footprint.
Therefore, these are the main four factors that helps to shape up the event industry and
also assist in the expansion of an event at global level.
PART B
Evaluate the value, impact and legacy of a range of global events
For London Olympics, 2012: The positive and negative impact of London Olympics, 2012
upon London's environment are as mention: Physical and environmental: This event creates positive impact upon the London
Physical environment such that it deliver the long term physical activity legacy especially
to the local population. Further, after the 18 month of London Olympics, 2012 it creates
positive impact upon people such that there was a changes in depression and anxiety of
adolescents and parents (Moore and et.al., 2016). Overall it creates positive impact upon
the physical and mental health of people of London. On contrary, it is critically evaluated
that this event may also affect the adults and older adults and sometimes become disable
and death as well. Social & Cultural: This event increases in volunteerism in which London name
volunteers for Olympic games that brings 700000 volunteers together which creates
positive impact (Reic, 2016). On the other side, this event also influence tourism activity
upon negative manner such that event related construction, improvement in transportation
infrastructure cause inconvenience of the resident. Environmental: The London Olympics creates positive impact by signing a bid of
sustainability policy and plan which are set to not cause any harm to the environment.
But unfortunately, This event cause negative impact upon London environment such that
the event includes the use of non- renewable resources, pollution of soil, air and water
and also generation of large amount of waste that creates negative impact upon the
environment and affect tourism as well (Chalip, 2017).
 Political: London Olympics creates positive impact upon the political condition of
London such that Mayor of London also exhibits some of the typical hallmarks of
political use of economic impact assessment, that also leads to put the positive spin on the
economy legacy of this event. Thus, this event also creates positive impact upon
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economy of country and also encourage people to take part in sports (Attwell, Morgan
and Parker, 2019). While on the other side, it is critically evaluated that this type of major
event increases the overall tax rate upon and this further discourage tourism and public.
For Football World Cup, 2019 Physical and environmental: This event creates positive impact upon women by
encouraging them to take participation in the sports activity and this in turn helps to stay
them physically fit. On contrary, it is critically evaluated that these major events may also
leads to disable person and negative impact upon their health. Social & Cultural: The mega event definitely helps to creates positive impact upon
social and cultural environment of London such that when tourist visit London they were
influence form local people and their behavior. This in turn also assist to increased
appreciation for the quality of life in the society visited (Taloumtzi and et.al., 2019).
Further, meeting with new people and share their ideas with local people helps to creates
respect of each other's culture and creates positive perception for country. On the other
side, it is critically evaluated that people visited form different culture and due to
language barrier, this may creates negative impact upon the cultural environment of
London. Environmental: The Football World cup, 2019 creates positive impact upon the
environment of London such that team efforts immediately clean the entire ground
whatever left behind every game. Event also uses recyclable material such that plastic,
paper, cardboard, cans and glass that do not affect environment. This leads to reduce the
amount of pollution and also used recyclable clothing bags for carrying garbage. On the
other side, as the event was held at international level that attract range of public and this
in turn increase public transport and traffic jam in city that leads to create negative impact
upon environment as well.
 Political: Football world cup, 2019 creates positive impact upon political stability of
London such that it creates a positive perception for the country because there is a vast
international exposure through media (Rojas-Torrijos, 2020). As a result, it helps to
enhance the overall economy of the country because it provides job opportunities to the
people and different economic benefits that leads to enhance political stability. On the
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other side, due to terrorist attack on 2001, most of the tourism got affected in negative
manner and as a result, event creates negative political impact upon London.
Reviewing management strategies used to support responsible event development
London Olympics, 2012 is the leading event where thousand of athletes show their
strength and also take participate in range of activities. The same way, it is held in London, from
July 27 to August 12 in 2012 where thousands of people took participates and also win prizes
and medals. Another event is Football World Cup, 2019 where thousands of fan were come and
this is consider one of the busiest night of year (Martínez and González-García, 2019). This is
introduced for encouraging women to take participation in the football to show their caliber and
win medals and prizes.
Thus, in order to introduce the same, there are different management strategies are used
that helps to attract range of public and support responsible event development. These are as
mention below:
Corporate Environmental Model: It is the foremost requirement of every event planner
in which management should focus on the environment protection. For that, management
strategies must include Corporate environment as a model that helps to improve the quality of
attendees, experience. Such that when London Olympics, 2012 were introduced, there was a bid
signed that the event did not cause any negative impact upon the environment but unfortunately
it was not happen (Karadakis, Bopp and Gassman, 2019). That is why, there must be growing
emphasis on the principles of sustainable development that helps to develop event successfully.
Moreover, the sustainability of the event needs to be viewed at different dimension such that
political, social, economic and environmental. Therefore, in order to address all the different
aspect, host country make sure that they develop a strategies by considering all the element.
On the other side, there must be proper involvement of all the stakeholders and they may
also share their views that helps to mitigate the risk and leads an event towards a success way.
Thus, Corporate Environment model helps to enhance relationship with the customers and
stakeholders that will further assist to manage local communities and environment as well.
Balance Score card method: This is an another important method which is a strategic
management performance metric that is used to identify and improve internal business functions
and provide the best outcomes (Thomson and et.al., 2019). This method is also used by the event
industry in order to determine the actual performance and development of event. This method is
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majorly focused on the strategic agenda and also assist event industry to choose right things to
measure so that they may reach to the goals. On the other side, This tool is mainly used in
financial, customers, internal business process and learning and growth that helps in the success
of an event.
In addition to this, it is also analyzed that This method assist to communicate what vent
industry try to accomplish and also helps to align day to day work by establishing strategy. Thus,
this management strategy also helps to measure and monitor progress towards strategic target
that helps to track success of the event (Schulenkorf, Sherry and Rowe, 2016). This tool and
technique also assist events to give a way in order to connect the dots between the various
component of the strategic planning and management that assist to support the event
development.
Thus, these both management strategies are used while introducing London Olympics, 2012 and
Football World cup, 2019 in order to creates success in an event. Moreover, these methods also
assist to observe the loopholes and detect the error that creates negative impact upon the success
of an event. Hence, these management strategies become a key component of structured
approaches corporate strategic management.
Critically assess the impact of global event on different level of environment and specific
management strategies
When global event occurred, they definitely affect different environment upon positive
and negative manner such that London Olympics, 2019 creates negative impact while, Football
World cup, 2019 creates positive impact. Further, both events helps to improve the physical
condition of individual and also encourage them to participate in sports, on contrary, it is
analyzed that events are held to meet different people who belongs to diverse culture (Kluger,
2020). That is why, it helps to creates positive impact upon its social and cultural environment of
London. It is critically evaluated that there is a need to introduce the management strategies that
helps to support the event development in better manner i.e. Corporate environment model and
Balance Score card method that assist to make better strategic planning. In addition to this, event
industry must use Balance Scorecard method that helps to evaluate the performance of event.
Also, help to identify and improve internal business functions as well.
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PART C
PESTLE analysis
In order to determine the macro environment factor, PESTLE analysis is used that helps
to determine the political, economical, social and environment factors which are as mention
below:
Factors London Olympics, 2012 Football World Cup, 2019
Political
Factor
From September,2001 due to terrorist attacks
the security is stepped up in London and that
is why, tight security is also used while
Olympics held. Such that new departments
were introduced for security purpose and
there is strict security at Airports (Pestle
analysis of London Olympics, 2012, 2019).
Terrorist attack in London creates
negative impact upon the major
event because it creates fear
among people to visit the place.
But thousands of visitors attend the
event and make it successful.
Thus, the event creates positive
impact upon its political condition
of London.
Economic
Factor
Sudden fluctuation in the economy cause
negative impact upon London Olympics such
that due to terrorist attack, the economy of
country also got affected and as a result,
many investments were also postponed.
Further, it also affect tourism industry
because they fear in traveling that cause
decline in economy. On the other side, due to
increase demand for swimming in Olympics
also increase the immense employment that
cause positive impact upon economy of UK.
Football World Cup creates
positive impact upon economy of
country because it also attract
tourism and this in turn helps to
enhance the economy of the
country (Wagner, 2019). But on
the other side, it is also evaluated
that sudden fluctuation in the
currency rate of the country also
cause negative impact upon the
event and this directly affect
economy of the country.
Social
Factor
Due to London Olympics, 2012 society gets
bonded by the sense of belongingness that
raise in enriching national pride. Further due
World cup are actually introduce
to remove discrimination and
candidate may also participate
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to this it helps to attract tourist because of
entertainment aspects of Olympics and also
learn new culture from London's people
(Eckart, McPhee and Bolisetti, 2017).
without considering their age, race
and religion. Therefore, it creates
positive impact and also helps to
learn new rituals and others
culture. The vent are also help to
attract wide range of tourist and
this in turn also enhance cultural
environment of a country.
Technologic
al Factor
Advance technology is used for the
promotion of London Olympics that helps to
attract visitors. Such that technology partner
were Acer who provide high advance
security system to make sure about the
proper security at the time of games.
Further,social media is also used as a digital
marketing platform to draw attention of
people at global level.
UK is known or its new techniques
and better infrastructure. So when
the major event are introduced,
event industry make sure that they
use new and advance technologies
that helps to attract large range of
visitors (Hamm and et.al., 2020).
Such that due to introducing such
world Cup, people now also access
to better technology and also
improved transport link and
upgrade airports that assist to draw
attention of many visitors. Beside
this, proper security system is also
introduce by complying new and
latest technologies.
Legal Factor This event make sure that it comply with all
the laws and legislation that helps in the
smooth functioning of an event. Such that
proper contracts are signed shields are
copyright an all legal agreements are
followed.
Whenever any event is introduced,
ensure that all the laws and
legislation are properly comply.
Such that during marketing, event
industry should make sure that
they did not post anything wrong
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