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The Significance of the Event Management Industry - Term Paper Example

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The main objective of the "The Significance of the Event Management Industry" paper is to discover the roots, structure, functioning, and development of the event management industry with special concentration on sports events being organized and taking place all over the globe…
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The Significance of the Event Management Industry
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Download file to see previous pages The present study makes PESTLE analysis of the topic under study keeping in view cultural factors and global phenomenon within which the industry observes significant boost during the last century. The future trends and dimensions of the industry have also come in the fold of the present study.

Event management refers to managing and administering one or more events in a systematic way at a domestic, national or international level. Such events can be related to religious beliefs and practices, social norms, cultural traits, or sports and recreational activities. “Event management”, according to Wikipedia Encyclopaedia, “involves studying intricacies of the brand, identifying the target audience, devising the event concept, planning the logistics and coordinating the technical aspects before actually executing the modalities of the proposed events.” Hence, the major objective behind event management is to develop and project a brand or an activity by focusing on the spectators and participants and their liking and requirements in a technical and comprehensive way. The Open Group defines event management in these words: “Event management is related to the services that provide basic capabilities for the management of events, including asynchronous events, event “fan-in”, the notification “fan-out” and reliable event delivery.” (Quoted in opengroup.org) Event management is one of the fastest-growing industries of the present world at large. Though it is among the modern disciplines in respect of theory, the industry has its roots in ancient Greek and Roman civilizations where marathon race, gymnastic, and other sports were conducted at a grand scale to keep the youth active and vigorous both mentally and physically. Moreover, festivals, games, sports, and cultural activities had been encouraged and supported by national enthusiasm and participants were rewarded and compensated. The sportsmen made preparations for many months for such mega-events. Olympic Games won wonderful applause and popularity in this regard. ...Download file to see next pagesRead More
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