Impact of Macro Environmental Factors on Global Events Industry

This presentation explores the impact of macro environmental factors on the global events industry and provides recommendations for minimizing adverse effects and maximizing profits. It also includes a SWOT analysis for successful event planning.

Global Events

Table of contents
 Introduction
 Impact of macro environmental factor has on the global events industry and its influence
over the decision-making
 Recommendation for improving and minimizing the adverse impact and maximising the
profits
 SWOT analysis of event for attaining success
 Critically evaluating the essential factors for successful planning of the business
 Conclusion
 References

Introduction
 There is an increasing demand for the sports events among the public
which has resulted into making the organizations engage into this field.
 There is a lot of opportunities available but along with that there are
certain risk as well.
 This presentation is about the Olympic event and the various factors
having an influence over the global events and the ways through which
risks can be minimized.
 Along with that it includes the essential factors to be considered for a
successful event.

Impact of macro environmental factor has on the
global events industry and its influence over the
decision-making
Sports event is the best way for the purpose of evaluating and showcasing the hosting
environment. But the host environment is also prone to certain macro environmental factors
which is needed to be taken care of.
Physical and environmental impact
 The event manager is required to assess the potential impact of the event on the environment.
 The impact might be small if it is organized in the infrastructure which is purposely designed
for it like stadium or the exhibition center but on the other hand the impact would be much
higher in case it is on the public space like street, park etc.

Cont..
Political impact
 Politics plays an important role, for instance, if the public are happy
that means that leaders are in power and vice-versa.
 The positive impact of it is that everything will be carried out smoothly
while in contrast to it will result into affecting the mind set of the
people leading to change in the political scenarios.
 Thus, the event manager requires to understand the political factor
and its influence over the event based on which the decision is taken.

Cont..
Tourism and economic impact
 This event can build the reputation and image of the destination which will be
beneficial for the growth of the economy.
 For example, if the event is conducted, the positive impact is that it will provide
competitive advantage and will generate greater revenue while on negative side
it will require huge amount of fund for conducting the event which can have
considerable impact over its circulation in the economy.

Cont..
Legal factor
 The event manager requires undertaking crucial steps for the security of the
people who will be attending the event along with the staff, for example, fire
safety, Health and Safety Regulations 1996.
 The positive impact is that it will result into avoidance of the government
interference and if the respect law is not followed it will incur legal issues.

Recommendation for improving and minimizing the
adverse impact and maximising the profits
Following steps will help in reducing the negative impact and
increasing the profits:
 Primarily, the event organizer should be prepared in respect to
how to manage the crowd and who will be responsible for it. This
helps in effective handling the crowd along with ensuring the
security of the participants and the premises.
 Personnel's should be hired who will be taking care of the
environment with respect to the risks of spills. Pollution, leakages
and other risks which can be reduced by implementing proper
waste recycling system. Therefore, it should be on the priority and
will consequently lead to increase in profits.

SWOT analysis of event for attaining success
 Below are the important factors which are required to be considered for purpose
of effectively planning of the event as it will help in taking better and improved
decisions.
Strengths
 Participants from all across the world.
 Sponsors will involve the top brands globally.
 Huge media coverage
Weaknesses
 The doping cases has affected the credibility of the
event.
 Incident of terrorism which has questioned the safety
of the athletes as in the case of Munich 1972.
 Boycotting the various nations because of political
reasons.
Opportunities
 Include cricket for getting higher viewership.
 Implementing strict and higher anti doping standards
for restoring the confidence of fans.
Threats
 Increase in the terrorist attacks in the future.

Critically evaluating the essential factors for
successful planning of the business
Grants and sponsors:
 There has been an increase in the use of sponsorship and change in the way events have been
identified.
 It is considered as an essential tool for establishing public relations.
Media coverage:
 The event organizer should work on ensuring that the appropriate channels and the cable operators
are involved in the event for promoting event and creating buzz about it which will help in increasing
the viewership.
Situational analysis:
 This will help in understanding the current market situation both internal and external based upon
which the steps are taken for further and effective planning.

CONCLUSION
 It can be inferred that by carrying out macro
environmental analysis will help an organization in
gaining insight about the current market situation based
upon which decisions are taken.
 These factors also have an influence over the
organizational behavior as well. Therefore all the
essential factors required to be considered.

REFERENCES
 Kaplanidou, K. K. and et.al, 2016. Business legacy planning for mega events: The case
of the 2022 World Cup in Qatar. Journal of Business Research. 69(10). pp.4103-4111.
 Kiani, M. S., Nazari, L. and Shabazpor, L., 2020. The Impact of Social Media and The
Presence of Fans at A Sports Event to Attract Private Sector Sponsors. ACTIVE:
Journal of Physical Education, Sport, Health and Recreation. 9(2). pp.96-100.
 O'Brien, D., and et.al., 2019. Strategic Management in Sport. Routledge.
 Rönkkö, J., 2019. The Sports Industry’s marketing Strategies in the United States:
Case: How the National Football League is Going to Maintain their Status as a Leader
of the Sports