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

This presentation discusses the positive and negative impacts of macro environmental factors on the global events industry. It covers the effects of political, economic, social, technological, environmental, and legal factors on the behavior and design of the industry. The presentation also provides recommendations on inculcating technology and interacting with the community to enhance the industry. It includes a SWOT analysis and discusses internal and external factors influencing the 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.

Continue..
• 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.

Continue..
• 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.

Continue…
• 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.

Continue…
• Legal factors: legal factors are mostly those that are acting as a
shield for the employees and their compensation. Employees as
well as their compensation are regarded to be the relative criteria
that are being dealt by the organisation. These are being tackled by
the macro environmental analysis in a way that would help people
to attend the right set of compensation and finances. The positivity
is that the organisation can work over the right set of compensative
problems that can provide people with the amount that is in due for
them. The negative impact is that whenever it is not maintained on
a subtle basis then that would lead to negativity.

Impact of macro-environmental
factors

Changes behaviour
• Macro environmental factors will change the entire behavioural criteria of
the organisation.
• This can impact the event industry by segmenting it into certain expansion
null and dynamic criteria that would help the business to outlook its own
behaviour.
• That can be changed in the models with respect to hospitality industry like
that of inculcation of new strategies as well as strict laws that will have to
be initiated.
• This is also in terms of training it employees as well as bringing about a
change with respect to its financial management and economic criteria.

Integrating macro
environmental factors
• This is necessary in order to bring about a theoretical orientation
towards the intensive approach towards dealing with the business of
the organisation (Palrão and et.al, 2021).
• When the macro environmental factors are strictly a bringing about a
challenge to the organisation then certainly the company will abide by
the challenges and develop its own strategies.
• They integrate the policies with respect to organisational performance
for example in order to deal with the political standard the entire
criteria of the organisational encroachment with government will
probably change.

Design and orientation
• The organisation will be in charge of bringing about a new
design to orient the event in such a way that would meet
the expectations that are a part of macro environmental
challenges.
• This can also deal with the cross cultural differences that
are a part of organisational entity.
• The work will be enhanced and successful approach
towards integrating the global events can be gratified.

Recommendations

Inculcation of Technology
• Technological implementations are recommended in order
to move ahead with the prominence of deriving events
(Russell, 2021).
• It is not until when the organisation is more interested in
turning up their assets with respect to technology as well
as the change management structures that gets to have an
idea on the overall management aspects.

Continue…
• The Global event will have to be initiated in such a way
that will have to bring about the efficient Technology into
existence.
• This will have to be a prioritising factor which cannot be
left Behind.
• Leveraging technology in all the important criteria can
also link people as well as clients with respect to
organisational beliefs and that can draw a huge amount of
customer base.

Interaction with community
• A proper interaction with community is necessary in order to
build relations with the onset of criteria that can be able to
understand the customer beliefs and personifications.
• This is important because it is not until when an organisation
develops a perfect picture about what the customers are usually
incorporating about the organisation is essential.
• This interaction can also be done with respect to the online tools
that are used to bring about maximization towards the work
criteria and successful planning of events.

SWOT Analysis

• SWOT analysis regarded to be one of the important aspect with respect to
any organisation.
• The swot analysis is also one of the important tool that is used by people
in order to deal with the strengths, weaknesses, opportunities and threats.
• Design necessary in order to cope up with the circumstances because the
strength will help to highlight the prominence of the organisation which
will bring about a variance in the entire operational unit.
• The weaknesses will have to be identified at all levels because there will
be certain loopholes that are acting with respect to global events.

Continue…
• The organisation in this regard will have to come up with
strategies that will be able to face all the barriers that are in
regard to performance of the organisation (Davies, 2018).
• It is also one of these solution in order to deal with the internal
mechanism because weakness will have to be corrected at all
levels to make sure that positivity is garnered.
• The opportunities in the organisation with respect to the Global
community is that there will be certain entities that would
increase customer base for the company.

Continue….
• For this there are a set of campaigns that will have to be identified and initiated.
• These opportunities can only be enhanced by the organisation if and only if the
structure as well as the strategic orientation of the organisation is perfectly
balanced.
• There is a huge competition that is prevailing with respect to organisation.
• The Global event will find area with respect to these functionalities which will
actors threat for the entire organisation.
• For this it will have to Limit its fears and will have to maximize its orientation as
well as its presence. Distance healthy Organisation in order to stand unique with
its set of strategies that are inculcated.

Internal and external factors
influence

• The successful planning of events is done only when the internal as well as external
factors are enhanced over a probable bases (Jowitt, 2020).
• These are necessary factors because the internal environment will have to be such
that it will have to co-ordinate with every prominence of event.
• The external factors will have to be such that they will not have to stand as barrier
for the organisational performance.
• Some of the considerations that are advantages in this regard will include political
standards.
• Political factors will obviously be one of the important advantage for the
organisation because the government support in organisational events and the
campaign that will have to be held will play a crucial role.

Continue…
• In this regard the governments will inhibit all the standards and will
also bring about a proper strategic orientation that is necessary for
organisations.
• This has also helped many organisations to strive across the challenges
and also act as a disadvantage. Sometimes a government changes and
at the same time there are also certain policies that are newly
introduced (Zhang and et.al, 2018).
• The internal factors like swot analysis will often bring about the
weaknesses into existence that will certainly not make the organisation
move ahead in terms of establishing its standards.

Continue…
• The weaknesses will have to be identified and will have to be corrected
at all levels because it is not until when the organisation works upon
its weaknesses that it gets to highlight the choices of its presence.
• There are certain consideration that will have to be made which will
impact the organisation because these considerations will not allow
the organisation to move ahead with the global event.
• A campaign with respect to global events is necessary because to fulfill
the speculations that are in charge of organisational upliftment this
event will have to be fostered at a rapid pace.

Conclusion
• From the above study it has been concluded that event
industry required for nations to increase sales and
revenues for the country.
• The report delivers the global events industry with
different types, explaining the factors influencing
development of event industries in local and global
markets.
• Further describe role of event companies and their
influence on market along with critical evaluation
techniques and evaluation showing value, impacts and
legacy of global events in varied nations.

References
• Rowe, 2017. The Value, Scope and Cost of Conferences: looking beyond the Events industry. In p. Symposium
(Vol. 5788).
• Ozili and Arun, 2020. Spillover of COVID-19: impact on the Global Economy. Available at SSRN 3562570.
• Palrão and et.al, 2021, March. The role of the public sector in the aftermath of the COVID-19 pandemic crisis:
The case of Portuguese events’ industry. In Journal of Convention & Event Tourism (pp. 1-22). Routledge.
• Russell, 2021, February. The Business Events Industry Recovery: Two Different Views. Professional
Convention Management Association.
• Davies, 2018. An academic report examining the theory of creativity and innovation and how it could be
applied to a sector of the events industry of your choosing. Headliners: An Anthology of Postgraduate Student
Writing From the UK Centre for Event Management, 1.
• Jowitt, 2020. COVID-19 and the global mining industry. SEG Discovery. (122). pp.33-41.
• Zhang and et.al, 2018. The sport industry in growing economies: critical issues and challenges. International
Journal of Sports Marketing and Sponsorship.

THANK YOU