Positive and Negative Impacts of the Macro Environment on Global Events

This presentation discusses the positive and negative impacts of the macro environment on the global events industry. It explores the political, social, economic, and technological factors that influence event planning and execution. Additionally, it includes a SWOT analysis for a specific event and provides insights on how to formulate effective event strategies. References are also provided for further reading.

Global EventsGlobal Events

Introduction
Positive and negative impacts the macro environment has on the global events
industry
SWOT Analysis for a specific event
Conclusion
References
Table of contentTable of content

Events is define as the large-scale meeting of individuals at one location and the
big event sector means certain organisations that organise events at global arena.
In important to foster or recruit individuals for that operation, this is a very
sustainable sector that holds numerous activities like formal celebrations,
corporate events, socio-cultural events, sporting events and several other
happenings. Where certain international gatherings are held at global systems in
order to have diverse communities and participant habits.
IntroductionIntroduction

Macro environments is related with those variables that influence the company
unit's role and efficiency, hence it is crucial to analyse certain external influences
for efficient work running. These variables could not be managed by any
organisation, and now these aspects must be taken into account in order to
successfully carry out certain business's duties or output. PESTLE research is
carried out during the sense of a legal setting, together with its advantages and
disadvantages, which are addressed below:
Beneficial and harmful effects of the macro enBeneficial and harmful effects of the macro en
vironmentalvironmental

Political factor: In required to bring out proper functioning of
daily operations, it is necessary for the tourism sector to accept
all laws and regulations imposed by the government. It entails
shifts in government policy that can have an effect on the event
market, cause controversies, and much more. The sector has to
be versatile in design with this case, so that any improvements
can be embraced.
Good effect- It is political security which allows companies to
operate their activities smoothly.
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Social factor- This applies to certain variables that include geography,
economics, morality, cultures, beliefs, behavioural problems, or habits of end
users. This has an immense influence on the business world as market
expectations and patterns are continually evolving for these event managers need
to set plans or schedule as per customer requirements.
Positive- This has a positive effect as it creates a positive interaction for the
members in the city.
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Economic factor: This covers all financial concerns like economic prosperity,
interest rates, inflation, consumer tax revenue policies, etc. In contrast to other
nations, the economic situation of that same UK is strong, which brings
advantages to the activity companies in Malaysia of efficient organisation of
events.
Positive- The entertainment industry benefits the country by producing more
income to increase employment.
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Technological factor- This helps a specific sector in seeing how emerging
technology can impact their strategic marketplace role or practises.
According UK has strong access to innovations, they provide good opportunities
to implement emerging innovations like quality technological innovations in
order to succeed in given situation.
Positive: The introduction of emerging technology allows businesses to deliver
new, creative and revolutionary offerings that draw a vast amount of customers.
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SWOT research is a fundamental method to classify some entity or event's
power, vulnerability, possibilities, and danger. From the other side, wherein
power and vulnerability are internal variables, both chance and hazard are
external ones. Strategic strategy must be encouraged, as it aids in the judgement
system and allows to consider the advantages and disadvantages of the company.
During which a SWOT study is carried out in the sense of a big London 2012
Olympics event:
SWOT AnalysisSWOT Analysis

Strengths:Strengths:
 The broad range of global reach in multiple regions is the
power of the World Championships because it allows to
define the target region together with buyers.
 Active online presence on numerous social media
platforms allows organisers to establish strong customer
connections.

Weaknesses:Weaknesses:
 The business criticises activists because of inadequate waste disposal
schemes.
 Often the liquidity situation and general market results are impacted by cash
deficits or limited supply of total assets.
 The choice process takes a lot of time, which impacts the business
development of new national diploma.
 Organizational culture is also another significant cause of organisational
weakness even though it does not fit with corporate goals.

Opportunities:Opportunities:
 The exponential increase in population expansion is a massive
opportunity for the planners of that same Olympic Games.
 The development of new advanced products can reduce costs
and improving standard and effectiveness, leading to a share
price.
 The internet and social media also as movement is an
outstanding platform for the London Olympics.

Threats:Threats:
 Competitive conflicts are the greatest challenge to either form
of business or occurrence when they impact the profitability of
the customer base.
 Another huge obstacle to the London World Championships is
the implementation of new stringent government instructions,
as they increase the possibility of costly litigation.
 Inflation rate adjustments impact the cost of supply along
with benefit.

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It has already been established from the above SWOT review that
any event needs a detailed plan to counter performance and
development in which organizing an activity is not really a simple
job, so it is necessary for event organisers to formulate proper
approaches and aims to address the event goal. There are different
variables for this which enable us fulfil the objective of a case in
which these variables are mentioned below:
Objective objective: There is a reason behind performing or
coordinating certain activities wherein the main goal is to achieve
results and raise funds for this, making successful and effective
plans and correct utilization of wealth are necessary.

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Understanding the audience: This aspect applies to the
recognition and expectations of target buyers or markets, who
would allow the business to introduce an efficient and fashionable
service or product. If another customer database has been found,
their initial phase is always to contact them for this there are
different steps to target potential customers like social networks,
Google search choice, etc.
Selecting the perfect venue: It would be the most crucial
consideration because it impacts clients, so it is necessary for the
producer to choose the best forum that determines the size, form
and amount of crowd.

This has been established according to the above research that PESTLE
evaluation and SWOT assessment allows the company to recognise internally
and externally variables influencing the role of activities to achieve the
company's target. In response to this, diverse approaches and tools are used to
build and establish productive business plans that help organisations meet
corporate objectives in a short period.
ConclusionConclusion

 Valaskivi, K., and et.al., 2019. Traces of Fukushima: Global Events,
Networked Media and Circulating Emotions. Springer.
 Hao, Z. and Singh, V. P., 2020. Compound Events under Global Warming:
A Dependence Perspective. Journal of Hydrologic Engineering. 25(9).
p.03120001.
 Hudson, S. and Hudson, L., 2017. Marketing for tourism, hospitality &
events: a global & digital approach. Sage.
ReferencesReferences

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