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Positive and Negative Impacts of Macro Environment on Global Event Industry

   

Added on  2021-02-19

14 Pages4012 Words418 Views
GLOBAL EVENT

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3LO1..................................................................................................................................................3P1 Diversity of the global events industry-..................................................................................3P2 Factors that influence the development of the event industry-...............................................4LO2..................................................................................................................................................6P3 Value, legacy and impacts of event on the environment........................................................6P4 Management strategies used to support responsible event development for a range of globalevents-..........................................................................................................................................7LO 3.................................................................................................................................................9P5 PESTLE analysis....................................................................................................................9LO 4...............................................................................................................................................11P6 SWOT analysis.....................................................................................................................11CONCLUSION..............................................................................................................................13

INTRODUCTIONThe Global event industry works in many sectors such as music concerts, conferences,sports events, exhibitions, seminars, corporate events, festivals and many others.Nowadays, the events differ from cultural event to sporting events, voluntary events toprivate musical events, personal celebrations to mega events like press conferences,wedding ceremony, VIP events, trade show, theme parties, team building events etc.This report will includes the diversity of the global events' industry such as the differenttypes of events by size, by form or content. This report will also highlight the eventsorganizations, by which organisation can know the projects and functions that willconducted in event. Event plays many different roles in the society and it will directly andindirectly affects the society, culture and economy. This report will also includes thefactors or elements that will influence the event development. The major impacts ofevent like social, political, economic and tourism on the environment and themanagement strategies that are helpful to conduct successful event. This report will alsohighlights the positive and negative impacts of macro environment on the global eventindusry and SWOT analysis of a event.LO1P1 Diversity of the global events industry-In a current situation, Diversity is very major need for the global events industry.With the diversity in the events we are able to provide all the basic hospitality of theaudience and efficiently accommodate all their needs and better represent them.Diversity in the event helps in organizing the events according to the audiences needs.For the major effectiveness, hallmark events and mega event conducted on the basis ofaudience hospitality (Sirunyan and CMS collaboration, 2017) . For creating an effectiveevent, diversity plays an important role. Keynote speakers, event Brochures, breakoutfacilitators and panellists are essential part for conducting effective event. Audiencesand society in the events are continuously growing towards the diverse and ethnicdiversity.The structure and the components of the event industryEvent organization is the main process, in which company will decide the overallambiance of the functions or projects that will conducted in the events. In the Event

organization, organizer will focus on the guest's relaxation, comfort, excitement and theoverall pleasure of the audience (Murdie and Peksen, 2015). Selecting the perfectambiance for the event is very essential because atmosphere plays a vital role inconstructing the best event. Event management companies have a great structure such as event manager,planner, event coordinator, client service event manager etc. Event managementcompanies provides several services such as conduct corporate events like pressconferences, corporate meeting, product launches, concerts, commercial events, awardceremonies, private events and marketing events like opening events, road shows.Event management companies also handles all the logistic, creative and technicalfactors of the event that helps in event success.A event manager decide the event venue, maybe it is situated inside or outside the city,and they will monitor all the activities on the event-side. Nowadays, the events differfrom cultural event to sporting events, voluntary events to private musical events,personal celebrations to mega events. There are various type of events that all aredependent upon the audience needs- seminars, meetings, trade show, productlaunches, board meeting, golf events, business dinner, networking event, VIP events,conferences, incentive travel, trade fair, press conferences, shareholders meetings etc.P2 Factors that influence the development of the event industry-There are various factors that influence the development of the event industryglobally. The growth and emergence of the events industry-event industry is boomingcontinuously. With the digital technological and revolution the, structure of the eventindustry has changed successfully (Maqsood, Mehmood, Maqsood, et.al., 2019) . Inpresent scenario, the need for large scale events, live conferences, grand exhibitionand seminars have been increasing day by day. This all the factors directly affects thegrowth and development of the event industry. With environmental factors, health andsafety factor, costs, logistics and many other factor's organizer wants to make theirevent most efficient as possible.The value and contribution of events to the global economy- global eventspositively contribute in the global economy. Events also plays an vital role in growth of

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