Global Events: Impacts, PESTLE Analysis, SWOT Analysis, and Recommendations
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This presentation discusses the positive and negative impacts of global events, PESTLE analysis, SWOT analysis, and recommendations for FIFA World Cup organizers.
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GLOBAL EVENTS
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INTRODUCTION Global events are those events which are conducted globally for limited time period, significant public investment is required in these events. catalyst are provided by these events for international environment, social, political and economic change.
IMPACTS POSITIVE Foreign exchange income generation Increase investments Infrastructureis developedinthehost country
CONTINUE… NEGATIVE Increase pollution Inflation in prices Risk of disease
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PESTLE ANALYSIS Itreferstotheeffectiveandstrategicframeworkofexternal environmentwhichismostlyusetoevaluatethebusiness environment which is dynamic in nature Political factors Economic factors Social factors Technological factors: Legal factors Environmental factors
POLITICAL FACTORS Factors that are related to the policies and actionsofthegovernmentisknownas political factors. It has impacted negatively due to ongoing conflict with Ukraine, workers need to work in poor working conditions and reports of death while preparing for World Cup.
ECONOMIC FACTORS Russia spend high amount of money on hosting this global event, and financial gains is very minimal in long run. World Cup of Russia also impacted positively, as their tourism sector benefited long term revenue.
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SOCIAL FACTORS Factors related to the welfare of the societylikehealthcarefacilities, employmentopportunities,better working conditions and many more. This factor has positive impact due toracialtension,increasegap between urban and rural people.
TECHNOLOGICAL FACTORS It has impacted positively and has long term benefit from the World Cup in Russia on the tourism and infrastructure.Alsoupgradedin existingtechnologylikeinternet service, transportation services and telecommunications.
LEGAL FACTORS It includes factors related to rules, laws, and regulations. It has positive impactby implementation of Visa policyforvisitorsandAmbush marketing. It refers to the form of marketing where brand take benefit from global events.
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ENVIRONMENTAL FACTORS Itincludesfactorswhicharerelatedto environmentalprotectionlikenaturaldisasters, global warming, change in climate and pollution. Global events need to take care of environment and apply sustainability practices. They need to tackle global environmental issues like climate change, waste management and use eco-friendly methods.
MACRO ENVIRONMENT FACTORS Functioningand performance of events held globallyhasaffectedby varioustypesofmacro factors like political, legal, technological, socio-cultural anddemographic environment.
RECOMMENDATIONS The appropriate recommendations offered to FIFA World Cup organiser to enhance the profit and minimize the impact is mentioned below: Organiser need to focus on forming effective plan and policies, structure and strategies to make the event successful. They need to keep focus on management strategies which are effective in nature and execute strong legacy. Create checklist of event planning, it help the organiser to keep coordination between all the activities.
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CONTINUE… Internal factors are strength and weakness of the company that provide advantages, improvements, disadvantages and stability of the business. External factors are opportunities and threatsof the company that provide expansion, contraction, control or explore the business unit. SWOT analysis provide proper guide, real facts based on practical experiences and provide base to take effective decision. It is subjective analysis to develop strategies of business for existing firms as well as start-up firms. SWOT analysis of FIFA World Cup lead the company toward effective strategies of marketing and efficient strategies of business.
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STRENGTH Geographic presence in various regions is one of the best strength of the firm. Business reach can be determined and ensure access to the target market.
WEAKNESS Lose of inventory due to poor management practices of inventory. Inefficient current assets and cash shortage impact negatively to the performance of business.
OPPURTUNITIES Advancement in technologies, reduction in rate of interest, rising global interconnection and subsidies provided by government are the positive factors.
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THREATS Shortage of skilled labour, high competition, rise in rate of inflation, cultural diversity, deteriorating economic conditions and shortage of skilled labour are threats for the organisation.
CRITERIA: EVENT PLANNING FIFA World Cup is organised in large scale so the successful of the eventisdependonthevariousfactorsofenvironment.Goals, objectives and purpose of the event should be clearly specified so that event can be held efficiently. Proper allocation of time and money lead to better planning of event.
CONCLUSION This project include both positive and negative impact of events held globally.ToevaluatethepositiveandnegativeimpactPESTLE analysis is taken into consideration. Recommendations and solutions are also provided to increase the efficiently of the event. SWOT analysis of FIFA World Cup is also explained in this project.
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REFERENCES Bell, C. and Masys, A.J., 2020. Climate change, extreme weather events and global health security a lens into vulnerabilities. InGlobal health security(pp. 59-78). Springer, Cham. Castro, A.S., 2018. The 2018 FIFA World Cup: The gains and constraints of Russia’s soft power of attraction through football and sports.Public Diplomacy of Rising and Regional Powers.3(3). pp.17-37. Kim, S.Y., Kim, H.S. and Park, H.J., 2019. Adverse events related to colonoscopy: Global trends and future challenges.World journal of gastroenterology.25(2). p.190.
CONTINUE… Kobierecki, M.M. and Strożek, P., 2021. Sports mega-events and shaping the international image of states: How hosting the Olympic GamesandFIFAWorldCupsaffectsinterestinhost nations.International Politics.58(1). pp.49-70. Vierhaus, C., 2019. The international tourism effect of hosting the OlympicGamesandtheFIFAWorldCup.Tourism Economics.25(7). pp.1009-1028.