Positive and Negative Impacts of Macro Environmental Factors on Global Events Industry

Global Events
(Pass criteria)

PART B
Scenario and Activity

Positive and negative impacts of
macro environmental factors
• Political factors: The positive impact of political factors on event industry
is that there will be a support for the organisation in order to deal with the
finances. The negative impact is that when the government changes there
will probably be a different one with different regulations that will again
be an impact.
• Economic factors: economic factors are regarded to be one of the criteria
that are dealt by the economic standards of the organisation (Rowe, 2017).
The positive impact of economic factor is that they will help the entire
event industry in order to deal with the change management criteria. The
change in economic policies will again impact the organisation which has
turned out to be a negative criteria.

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• Social factors: social factors are regarded to be one of
the prominent criteria where the societal beliefs as well as
the attitudes will fall in regard to its. One of the positive
impact of social factors is that few people might be
interested in dealing with the events that are being taken
care about by the organisation and can accept over its
entity. The negativity will pertain with respect to certain
beliefs as well as ethical standards when the organisation
do not follow the basic structure of the community.

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• Technological factors: technology is said to be at the perk of being
the best. This technological factors are one of the prominent criteria
that will help the organisation to move ahead in attaining the
speculations by providing a proper explanation. The positive impact
of technology is that things will be made prominent and there can be
a change management in the organisation. The negative impact of
the technological factors is that few people might not understand
the base of every technology and that might certainly impact the
entire organisational performance. There are also cyber crimes and
threats that can steal the information from organisation.

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• Environmental factors: environmental factors are the
important criteria for every organisation in order to move ahead
with the speculations of the laws that are being encroached upon
by the government (Ozili and Arun, 2020). The positive impact of
environmental factors is that there will be a safe environment
that can be maintained and there will not be any organisational
encroachment upon the activities of environment. The negative
impact is that whenever there is any damage that is caused to
environment by exceeding the law that is enforced by the
government then it probably will be a negativity.