Navigating Change: Adapting Event Companies’ Business Models to the BANI World

Recent social, economic, and environmental disruptions have created a new Brittle, Anxious, Non-linear, and Incomprehensible (BANI) environment that has transformed the event industry, requiring adaptations to existing business models within event companies. This research aims to identify key business model elements of event companies and examine how they leverage dynamic capabilities to adapt to the challenges of the new BANI world. A qualitative approach was employed, using semi-structured interviews with event managers, and thematic analysis. The research identifies eight key elements of event company business models: value proposition, target market, technology integration, networks, promotion and customer relationships, sustainability integration, revenue streams, and cost structure. It highlights changes in business models related to five main drivers: the (post-) pandemic crisis, economic downturns, labour shortages, technological advancements, and sustainability pressures. By exploring how companies respond to these disruptions, the findings enhance the understanding of dynamic capabilities within the event industry and provide valuable implications for both academics and practitioners.