Model of Business Organization. Criteria for Effective Company Management in Event Industry

Nowadays, the event industry is one of the fastest growing industries in all over the world. In Russia, this industry accounts to approximately $ 8 billion (Event MB, 2018). However, it still builds up a less than 1 percent from the world’s share (Event MB, 2018). So, it is clearly seen that Russian event industry may be further developed. The event industry is as well undoubtedly the engine of the economy: it not only contributes to the launch of new projects and the development of business relations but also generates profits and offer new jobs, stimulates infrastructure development, increases revenues to the budget and develop cultural and entertainment awareness in people, who are a target audience for an event. Thus, the research goal of the bachelor thesis is to build a business model based on defined criteria for the economic efficiency of an event agency. The criteria of economic efficiency in the event industry will be defined using a qualitative research in terms of interviews as a method of data collection. As a result, I found a strong correlation between the company management and its effectiveness, which is concerned with balancing income and expenses. The resulting model is the first attempt to structure a very closed to be observed sphere- the event industry. The main contribution of the bachelor thesis is that it proves a well-established and working instrument to calculate a company’s income and expenses with the ability to modify the instrument according to a type or a size of the calculated event. The resulting business model will have critical practical implications such as it will be useful for representatives of companies operating in the market of event services and for individuals and legal entities who have a strong desire to enter this sphere. Keywords: event industry, event agency, criteria for effective company management, financial business model.