Impact of Macro Environmental Factors on Global Events Industry

This report evaluates the impact of macro environmental factors on the global events industry, including positive and negative impacts, evaluation of macro environmental factors, recommendations for improvements, and SWOT analysis.

Global Events

Table of Content
• Introduction
• Effect that the positive and negative impacts of the global events
• Evaluate the macro environmental factors, their influence on global events industry
• Provide recommendations for improvements and solutions for a specific event
• SWOT Tools
• Specific criteria for the successful planning events for both internal and external environment
• Conclusion
• References

Introduction
• In global events, huge investment is
done so that these events can be
organized efficiently.
• negative and positive impact of the
global events will include in this part of
the study.
• Moreover, dynamics of global events
and impact of such events on society as
well economy have been included in the
following report.

Macro environment
• Macro eenvironment is related to external factors that has a major impact on the global
events. Evaluation in internal as well as external environment is important in order to
take effective business decisions for the future growth and success.

Cont….

Macro and Micro environment forces
Physical and environmental factors
• It is analyzed that government not only
grants permission but also provide
adequate amount of funds so that the
events can be organized successfully.
• The global events might become a
reason of exploitation of natural
resources within the country. It might
put an adverse impact on heritage and
environment of the host nation

Cont..
Tourism aand environment
Positive impact
Global events positively affect the tourism by increasing number of tourists within the
country which further facilitate growth of local industries.
Negative impact
Due to the ongoing pandemic, people are not able to move from one place to other which is
negatively affecting tourism as well as economy of the host nation

Cont..
Political factors
Positive impact
• The positive policies of the goverment helps
in organizing effective global events for the
growth of entire nation.
Negative impact
• Change in the current policies of government
might create challenges for the host nation.

Cont..
Legal Factors
Positive impact:
•With proper implementation of legal structure, it is possible to provide a safe , secure
environment to employees so that they can work effectively for making the event
successful.
Negative impact
•Here, event organizers need to devote significant time and efforts in order to imply
suitable rules & regulations in business.
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Stakeholder Analysis
Technological Factors:
Positive impact
• Technological factors are helpful in organizing the
Olympic events in a proper and systematic way.
Negative impact
• Here, misuse of technology can create challenges
for the event. It will put an adverse impact on the
reputation of the respective global event.
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Evaluate the macro environmental
factors
• Macro eenvironment is the combination of different internal and external elements like
political, economical, physical environment and tourism, legal consideration and more.
These factors put a major impact on the global event industry.
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Cont..
• Olympic, 2020 is one of the well-known
example of major event that was
conducted in Tokyo.
• The event affected with numerous micro
and macro factors which also influenced
the decision making process of the event
significantly.
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Provide recommendations for
improvements for a specific event
• To organize the event successfully, it is
important to assess each and every aspect
efficiently. For this purpose, it is important to
assess different challenges and then prepare
suitable strategies accordingly. In this context,
recommendations are mentioned below:
• It is important to consider sustainability and
prepare suitable agenda on sustainability for
growth and success of the event.
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Cont..
• It is suggested to aanalyze the
infrastructure of the nations before
selecting the host nation. It will help to
conduct the event appropriately.
• There is requirement of adequate amount of
resources such as human resource, funds,
physical equipments and more. Hence, it is
important to arrange all necessary resources
in the host nation for success of the event.
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SWOT Analysis
• SWOT is a crucial tool that is oftenn used in order to assess strong and weak factors of a
particular product, service, situation and more. It also included the opportunities of
future success and the threats that need to face in future period of time. In context of
Olympic 2020, the SWOT analysis is outlined below:
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Cont
Strength:
• There is opportunities for the host country like Tokyo to showcase themselves in front of
the rest of the world.
• Here, opportunities are provided to the sports people, athelts to showcase their talent at a
well-known platform.
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Cont
• Weaknesses:
• It is highly complex to get the permissionn
from the government to organize such a large
event like Olympics.
• Incident of doping negatively affect the
prestige of the respective event.
• Here, terrorism act is also the biggest question
mark on the security arrangement of the
events.
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Cont..
• In Olympics, more sports such as Cricket and more ca n be included in order to enhance
the popularity of the event at global level.
• Cases of dopping needs to reduce down in order to maintain trust of fans in the sport
event.
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Cont
• Threats from terrorist attacks is likely to
increase in the future period of time.
• As more sports become professional in
nature, it may be possible that in the
future, the biggest superstars skip the
Olympic Games
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Cont
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Specific criteria for the successful
planning events
• The major criteria for the successful business
planning of events are the internal and external
business environment.
• With the use of internal and external
environments, the mega event industry cant
identify the significant growth techniques and
implement those techniques for future
betterment.
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Conclusion
• It is assessed with above –mentioned information that global events are important for the
enhancement and growth of the economy.
• The continuous evolution in the industry also contributes create challenges in the industry.
• It would be helpful for analysing the situation and make systematic impact with positive and
negative factors.
• Furthermore, with the help of Swot analysis, an event management can easily implement the
successful process with internal and external factors.
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References
• Ogle, A. and Lamb, D., 2019. The role of robots, artificial intelligence, and service
automation in events. In Robots, artificial intelligence, and service automation in travel,
tourism and hospitality. Emerald Publishing Limited.
• Chaves‐Fonnegraand Gilliam et. al., 2018. Bleaching events regulate shifts from corals
to excavating sponges in algae‐dominated reefs. Global change biology, 24(2), pp.773-
785.
•
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Thank You
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