Changes in the Field of Event Organization

The global event industry is changing rapidly. identify what you consider to be the most critical emerging trends and make suggestions as to how event organizers can remain competitive in the face of such change.  Changes in socioeconomic and technological factors that occurred over the past few years have also changed the event management industry. Managing performance and operation in an industry that is changing at a rapid pace is one of the most challenging tasks compared to the earlier times, the event management industry has significantly changed and it is expected that it will continue to change.

Therefore, understanding the most critical trends is a key step in achieving efficiency in the industry.  The recent innovation in the events industry and the introduction of more advanced technologies are some of the key factors that have changed the face of the events industry.

From the process of organizing an event to marketing, technology is playing a significant role. Today, the event industry has become a customer-oriented and the change in this industry also increased the customers’ expectations in the past, the communication between events planners and their audience was limited and the event would generally be placed in a traditional way, unlike today where attendees and audiences expect more than just an event.

This is due to the fact that from the decoration, sound and visual facilities are part of the attendees’ experiences. Some of the aspects of the events industry that are highly dependent upon technology include operations, the safety and health management, marketing, and operations.

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The ability of technology to bring professionalism and social life together is what justifies the role of technology in the development and the future of events industry. The increasing use of digital technologies at events whereby companies and events planners are focusing on technology to create an interactive and more personalized experience for their attendees indicates that technology is taking over the event industry and in order to compete, companies need to embrace these changes. Challenges These changes in the events industry increased the level of rivalry and competition in the global events industry this increasing competition has put more pressure on old companies that were still handling the events in a traditional way. Therefore, keeping up with technology is not as easy as people might think since clients always want that the event features the most up-to-date tech.

This means that only a few companies can carry their businesses at the speed in which the industry and technology are changing. However, it is still a big challenge to handle costs involved in the overwhelming demand of high technologies and to keep up with the speed It is therefore obvious that in the future, the global events industry will remain with very few companies that have sufficient resources and abilities to compete. In order to overcome these challenges and for the event planners to remain competitive in the changing industry, they should consider investing significant resources and time in innovation in order to keep up with technology and to come up with new ideas. This is because if they fail to meet the expectations of their attendees and their clients, they will lose the battle. They should therefore focus on social media marketing because it is slowly dominating the global events industry.

Proponents of stakeholder and network theory argue that it is far more useful to consider events in the context of their inter-organizational relationships than to view them as individual organizations, give your views on this assertion.  Given the nature of the global events industry and the structure of the market, the global events industry can never achieve efficiency without forming networks and developing inter-organizational relationships with other entities. There are a number of reasons that justify the need for these relationships it is therefore important to understand the benefits of networking to the industry and the stakeholders as well. The assumption that for the events to be successful and effective, it is useful to consider them in the context of their inter-organizational relationship have gained increasing popularity over the past few years It is said that forming inter-relationships with other entities can enable events organizers to achieve their goals in the most accurate ways.

The ability to understand the types of networks needed and how to form these networks is what increases the likelihood of the events to be effective. This is due to the fact that their success can be judged in terms of their ability to create value and form of capital created through networks, the ability to create effective networks and the ability to access and control available resources. Stakeholders within the events industry can be referred to as all people or organizations that have an interest in the operations of the organizations and who can be affected or have any effect on the performance of the organizations. There are a number of factors influencing the interactions between organizations Such factors include the need of accessing a wide range of resources such as expertise, knowledge, funding as well as audiences.

Therefore, since the success of the events industry highly dependent on the good collaboration of different stakeholders, it is evident that without strong inter-organizational relationships, events can never be successful. Some of the stakeholders include employees, businesses, government, NGOs, tourists, residents and suppliers as well as residents. Therefore, since stakeholders are quite different in terms of expertise, influence, and power, the contribution of each and everyone is needed. Moreover, their complementarity is needed because they have different aims, goals and objectives. The interaction between different stakeholders of the events can be characterized by collaboration and competition.

This means that each side involved competes to protect their interest and to demonstrate their ability to help the events become more successful. As a result, viewing the event in the context of inter-organizational relationships that they form with other entities has many benefits such as acquiring new funding, acquiring new knowledge, skills, and expertise, developing strong relationships with stakeholders as well as increasing the event’s influence and image. It is also important to note that those relationships enable them to achieve effectiveness and the maximization of profits. The collaboration also helps in reducing errors and mistakes that might occur during the course of the events and therefore, event planners will be able to address these issues earlier hence achieving higher performance at a low cost.