Effects of the Global Recession on the Event Management Market - Essay Example

METHODOLOGY PLAN Effects of the Global Recession on the Event Management Market in London METHODOLOGY This chapter provides an outline of the methods used in this research. The objectives and the research questions will first be reviewed. The chapter will then proceed to present the research design. An overview of survey development and data collected, study participants and data analysis will also be reviewed in this section. Concluding remarks regarding the validity and the limitation of the study with then be presented. Research Questions & Objectives This research evaluates the effects of the global recession on the event management market in London. Therefore, the main objective of the study is to assess the impact that recession has on event management market in London. Recession led to a decline in the returns of event management industry negatively. Other adverse outcomes that were experienced in event management market due to the global recession in London comprise of retrenchment of employees, decline in the invested capital, and emergence of unfair business competition. Thus, the study examines the following research questions: How was employment in the event management market in London affected during global recession? What leads to unfair business competition in this market during global recession? And, what extent does the invested capital affected by global recession in the event management market in London? Research Design Two primary data collection instruments were used to comprise the research design for this research. The design was carried out in two parts, the first part of the design utilized a cross-sectional survey to collect both qualitative and quantitative data. The second part employed semi-structured interviews to explicate on the survey data that was initially collected. The usage of this research design can be described as a mixed quantitative-qualitative model that blends explanatory mixed method and triangulation designs (Gay, Mills & Airasian, 2009). Triangulation method is very beneficial since weaknesses of the qualitative are offset by the strengths of the quantitative data, and vice versa. Explanatory method design is very useful since elaborations and interpretations of the previously collected data are analysed. Using these mixed methods in this research will give a comprehensive and completely integrated method in this study’s research design. Survey Development and Data Collection Data collected in this study used two primary instruments, a partly structured interviews and a cross-sectional survey. Cross-sectional surveys are defines as the single surveys that that are capable of gathering a broad-ranging data from a sample at a single point in time (Gay, Mills & Airasian, 2009). Cross-sectional survey is very insightful since it helps the researcher to grasp and comprehend attitudes, opinions and beliefs of a population quickly (Gay, Mills & Airasian, 2009). The interviews were used because they have a capability of exploring the concerns that are related to global recessions on the event management market in London. In matters pertaining survey it will be developed in sections done in sections, the first section will comprise questions that are asked to respondents on how their event management business performed before, during, and after the global recession using the 5 pointer Linkert scale. The second part will include questions that are related to the effects of global recession on the event management market in London. The last part will comprise general demographic questions that related to the age, gender, education and the speciality of the event management business. Emails with online survey links like LinkedIn and online survey tool such as Surveymonkey will be sent to festival and event management professionals listed in the International Festival and Event Association (IFEA). The responses from this professionals will be analysed quantitative and qualitatively. The event management professional, especially the ones that were present during the global recession, will be very helpful in this research since they will give their insightful views on how the global recession impacted the event management market in London. The interview will be done using email and other online means since it is more convenient and easy to locate event management professional that were present before, during and after the global recession in London, and the fact that it is a cheap method. Data Analysis When analysing the data it is very important to assess whether the data collected is nominal data, which means that it is categorical with no specific order required, or whether the data is non-parametric, which means that the data doesn’t conform to a normal distribution (Brotherton, 20008). It is very necessary and important to consider these factors when selecting data presentation and analysis styles (Clarke et al., 2007). The data presentation in this research will utilize frequency table since they are most appropriate in presenting data that possess these aspects. The responses given by the responses regarding the impact that global recession on the event management market in London will be discussed, analysed and presented accordingly. The literature review will be very fundamental in analysing the data that is presented qualitatively. The literature review will also be used to analyse and support the data that is presented quantitatively. Rigorous statistical tests won’t be possible to conduct on the data that will be collected in this research since it comprise of a small sample size (Clark et al. 2007). Conclusion The methodology that will be used in this paper will be very insightful since it will help in understanding the impacts of the global recession on the event management market in London. The methods are specifically chosen since they will enable the research to gather the effect that global recession had on this sector in London. The validity of the data that will be collected is very credible since most of the participants are professional drawn from the event management market in London. Limitation are expected in the development of data collection and analysis. The key limitation that is expected is lack of cooperation and response from some professionals in the event market management market in London. This might be due to the fact that some want to anonymity or they are just obstinate. References Brotherton, Bob. (2008). Researching Hospitality and Tourism. A Student Guide. SAGE Publications Limited. Clark, Mona, et al. (2007). Researching and Writing Dissertations in Hospitality and Tourism. 8th Ed. Thomson Learning. Gay, L. R., Mills, G. E., & Airasian, P. (2009). Educational research: Competencies for analysis and applications. Upper Saddle River, NJ: Pearson. Read More