Global Event Management: PESTLE and SWOT Analysis, Successful Planning and Evaluation

This presentation discusses the importance of PESTLE and SWOT analysis in global event management, along with successful planning and evaluation strategies. It covers topics such as political, economic, social, and technological factors, as well as strengths, weaknesses, opportunities, and threats. The presentation also provides recommendations for succession planning in the event industry.

GLOBAL EVENT MANAGEMENT

Table of Contents
 INTRODUCTION
 MAIN BODY
 PESTLE Analysis of global events
 SWOT analysis of global event
 Evaluation of successful planning of events
 CONCLUSION
 REFERENCES

Introduction
In the global and national market the event management industry plays a major role
by supporting various major global events. The event management industry is a
major body which conducts major events in different countries for assessment of
various people.

PEST Analysis of global events
The PEST analysis is an important way of identification of external environment. For
global event management, PEST Analysis is mentioned below:
 Political factors- It is important for the business to consider major political factors in
order to gain success in the market. These factors are related to rules and regulations
that are developed by the political forces in the country. Political forces are important
as they include the government's plan for the development of the event industry. The
government of UK is always supportive for the major events in the country.

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 Economic factors- The economic factors majorly impact the functioning of event industry
and its decision-making (Uçar, 2021) It is the major role of environment to focus on the
economic factors for the growth and success of business. Economic factors are related to
monetary policy which is formulated by the government in order to develop economic
parameters. If the economic policy of the government is not in the favour of business
industry then it may suffer from various loopholes.

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 Social factors- The social factors play an effective role in the enhancement of the economy
and cultural values of the society. Social factors includes the dimensions of the society
which are essential to be measured in a particular sense. Creating negative social factors
analysis majorly impacts on the decision-making of event industry related business.
 Technological factors- In the current scenario there are various technological factors that
impact a business industry in event field. Most of the successful companies in national and
international market focuses on development of event industry in a major sense. The use of
advanced computer systems and software develops a business in a significant manner.

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Analysis-
The PESTLE analysis play a key role in the advancement of macro environment which
is important for many companies that are present in the competitive world. Major
companies at the marketplace installs the latest values in the macro environment analysis
for the attention of large amount of customers. In other words in the London Music
festival received a perfect response from the audience in order to lead the marketplace
with maximum responsibility (Venske, 2018).

SWOT Analysis
SWOT Analysis is very much crucial for the company to perform SWOT analysis for the
growth and expansion of the event. The SWOT analysis of the events is organised majorly
in order to develop the external and internal environment.

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The SWOT analysis of London music festival is mentioned below:
Strengths- The music festival of London was organised in a perfect manner and it led to the
long term success of the event. The large number of crowd which was present in London was
the major strength as foreigners also attended the show. The location was situated in the heart
of London City and that was also a type of major advantage of the business. It is the
important role and responsibility of the management to develop ethical role in the business.

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 Weaknesses- It is important to know the major weaknesses of an event in
order to develop a precise strategy for the future. The crowd security
management was a key weakness of the event which led to create major
chaos among audience.
 Opportunities- The opportunities are important to identify for an event in
order to develop and expand the operations related to event. Most of the
opportunities which are available to the management of event create a
development in the long run.

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 Threats- The music festival which was organised at the heart of
London faced many threats from the competitors (Vlachos, 2020).
Threats are to be considered in a major sense by the business in order
to gain long term success. The another threat to the London music
festival was from the Scotland music festival.

Evaluation of successful planning of events
It is important for a business related to event industry to perform succession planning
so the companies will get a remarkable success. Companies in the international
market should focus on developing a perfect management strategy which is effective
in succession planning.

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The major steps or recommendations a company can consider in the succession
planning are mentioned below:
 Event industry should take assistance of professional strategic management in
order to survive in the international market.
 Event industry should regularly take feedback from the audience in order to make
modifications in the functioning.

Conclusion
From the above stated report it can be concluded that the global event industry is the
base for organising major events that are entertaining and beneficial for the society.
The global event industry is considered as major type of organised body which also
helps in management of giant and huge events.

REFERENCES
 Uçar, P., 2021. Importance of ICT in Human Resources Management and Evaluation in
Terms of Events. In Impact of ICTs on Event Management and Marketing (pp. 86-104).
IGI Global.
 Venske, E., 2018. Rising to the occasion: Experiential learning experiences of event
management students at a South African University of Technology. Event
Management, 22(1), pp.79-97.
 Vlachos, P., 2020. Liminality, subjectivity, and aesthetics in event management
studies. Liminality and Critical Event Studies, pp.35-54.

Thank You