Value Network as a Key Category Within Event Sport Tourism Business Model: The Case of Mercedes-Benz Uci Mountain Bike Downhill Lošinj World Cup 2018

Abstract

Purpose-Sport events generate the largest sport-motivated tourist flow. For the organizers, the best way to make the organization of an event easier, and create value for all stakeholders involved, is to design a successful event business model (BM). In addition to the theoretical knowledge, organizers should be familiar with the good practice, which proves that networking and cooperation between different stakeholders are the key to success. This paper, therefore, focuses on studying the value network, an important element of event's BM, which is critical for the success of the event. Methodology-The Case Study analysis refers to the Mercedes-Benz UCI Mountain Bike Downhill Lošinj World Cup 2018. Interviews with the representatives of main stakeholders were conducted to analyse the involvement of various groups of stakeholders in the event implementation, their contribution and sharing benefits from the project. Findings-The findings of the study suggest both similarities and differences regarding stakeholders' specific motives and interests for participating in the organization of this event. Some strategies and recommendations for organizers to improve the stakeholder management and value networking within the event's BM concept are proposed. Contribution-In addition to a strong contribution to the sport management, event management and stakeholder management theory, the research findings and proposed strategies are beneficial to sport practitioners and the organizers of similar events who could avoid mistakes in planning, organizing, financing and leveraging their future events.