Impact of economic and political policies in event management industry

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Event management has become a booming industry in recent years. From sports and corporate events to intimate Gatherings there is a constant demand and necessity for efficient event planning and management. Macro environmental factors such as savings rate, inflation rate, interest rate, economic cycle and foreign exchange rate determine the aggregate demand and aggregate investment in this sector, whereas competitive advantage of the firm is determined by micro environmental factors such as competitive norms. The aim of our research paper is to determine the various political and economical factors that affect the event management industry and further identify the recent trends and risks that is faced by this sector due to the economy and political stability. The nature of study is descriptive and the source of data is primary. The data is obtained directly from the subjects and Likert scale was used to answer the questions. Through our study we have found that majority people believe that political and economical factors influence the event management industry and it affects the quality of services provided to consumers. People also believe that COVID 19 negatively impacted this sector. It was found that employment opportunities are created due to the development of this industry, thus having a positive impact on the economy. The results regarding the policies and regulations of the government that have an effect on event management was found that, event management businesses must abide by a variety of government regulations in order to operate legally and successfully. Overall, this topic provides opportunities to study how varying economic and political factors can influence outcomes event management, as numerous real-world examples. Equipped with focused analysis and research highlighting causal relationships between policy implementations versus observed results including insights into secondary impacts will help execute informed recommendations going forward.

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Quarter of a century of event-management evolution 2000-2024: the general and the special of existing approaches
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The research purpose is to conceptualise the main stages and regularities of the development of event management theory in Russia since 2000 to the current times. The methodology includes comparative historical analysis of literature (stage 1), content analysis of data on domestic publication activity (stage 2), comparative analysis of based on foreign research data (stage 3). The first and second stages chronologically consider the development process of the event management and evolution of scientific research; identify time markers of emergence of new contexts and two key directions of the evolution (market and socio-cultural ones); substantiate the contribution of the semantic factor; establish the features of evolutionary transformations and key affected variables; demonstrate and comparatively characterise 6 approaches to management (corresponding to the evolutionary stages) and the seventh forecast direction. At the third stage a comparative characteristic of the development of the event management in scientific-theoretical and applied fields is given; two justifications for the use of the terminological system “event” (marketing and semantic ones) are presented; the features of improving the approaches to the event management (in English-speaking and non-English-speaking fields) during the similar period are characterised and then compared with the features of domestic development. The study results acquired at the third stage outline the field of further research and applications in the sphere of the event management in terms of managing the processes of social development, value-semantic communication in the socio-cultural space. As a whole, the material presented could be used as a practical guide to the selection of a management approach that corresponds to the context of application, and also indicates a possible direction for further theoretical and practical research that may ensures efficiency, competitiveness, and accelerated development

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