Global Events: Impact on Macro Environment Factors and Recommendations

This report delves into the multifaceted impact of global events on the macro environment, examining both positive and negative consequences such as sustainable development, communication network improvements, employment opportunities, travel inconveniences, and price inflation. It analyzes how macro environmental factors, including political, economic, social, technological, legal, and environmental aspects, influence the global events industry, decision-making processes, and organizational behavior, using Firebirds Ltd. as a case study. The report provides recommendations for event improvement, emphasizing environmental sustainability and consumer preference research. A SWOT analysis is presented, highlighting the company's strengths, weaknesses, opportunities, and threats. Furthermore, it evaluates the criteria essential for successful event planning, including feasibility analysis, strategic planning, and bidding procedures, and outlines the roles of stakeholders such as government and media. Finally, the report discusses approaches to effective planning, focusing on safety, audience management, and the challenges posed by factors like Brexit. The report concludes that the global events industry affects the macro environment in various ways, and that companies should adopt innovative technologies and practices to improve their event management. This report is available on Desklib, a platform offering AI-based study tools for students.

GLOBAL EVENTS

Table of content
 Introduction
 Negative and positive impact of global events on macro environment.
 Macro environmental factors influence on global events industry, decision-making and
its organizational behaviour.
 Recommendation for improving specific events.
 SWOT analysis tool.
 Evaluate the criteria essential for successful planning of events.
 Role of stakeholders
 Approaches to effective planning
 CONCLUSION
 REFERENCES

Introduction
 The presentation will outline the impact of global events on macro environment
factors, impact of macro environment factors on decision-making and its
organizational behaviour of events company. It will also outline SWOT analysis
for a specific event, criteria that are important for successful planning of event etc.

Negative and positive impact of global events on
macro environment.
 The positive impact of global events on macro environment is that it supports in
sustainable development. It helps to develop communication networks in the
community.
 Brings an improvement in social cohesion within the society and also provides
employment opportunities to large number of people that are involved in different
activities in the event.
 Negative impact of global events on macro environment involves travel
inconvenience for public, price inflation, risk of pollution etc.

Macro environmental factors influence on global
events industry, decision-making and its
organizational behavior
Political factors-
 One of the major factor that influences the working of global event's industry is
political factors. It includes stability in political environment, rules and regulations
of government etc. Any type of change will affect international event organized by
the events companies.
For Example- The wedding event organized by Firebirds Ltd. Will be influenced by the
impact of Brexit as it will have to pay tax while importing equipments for conducting
event.
Economic factors-
 It involves factors like level of economic development, rate of interest, rate of
inflation, population in country etc. For Example- Weaker pounds may offer
opportunities for conducting events in UK as weaker currency will make the
country more economical destination. In year 2018, rate of inflation in UK was
2.48 % it means that Firebirds Ltd has to incur huge amount of money for
conducting the event of wedding.

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Social factors-
 It includes factors like lifestyle, changing behaviour and attitude of people towards global event's
industry.
For Example- Nowadays, consumers are becoming more health conscious. Therefore, Firebirds Ltd.
should take into consideration the consumption pattern, lifestyle of attendees that will attend the event
of wedding.
Technological factors-
 It involves rate of change in technology that can impact working of firms operating in events industry.
For Example- Firebirds Ltd. should leverage data related with attendees of the event with the help of big
data. This will also help to offer better experience to the attendees
Legal factors-
 It involves rules and legislation that may influence the activities of firms involved in events industry.

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Environmental factors-
 It involves regulations of government to protect negative impact of activities of
event organizing firms on the environment. Event management firms are required
to consider the impact of their activities like impact on energy, water,
transportation etc.
For Example- Firebirds Ltd. Should adopt environment friendly practices for
conducting the event of wedding at global level such as reuse, recycle and reuse etc.
Influence on decision-making and organizational behavior-
 The above described macro environment factors will greatly influence the
decisions of Firebirds Ltd in relation with planning, organizing the wedding event
at international level. They should consider the changes in lifestyle, diversity in
culture and health consciousness of attendees before organizing the event.

Recommendation for improving specific events.
 It is recommended that Firebirds Ltd before organizing the event of wedding
should consider that all the people involved in organizing the event must follow
environmental sustainability practices.
 For Example- The company may develop an app that will create awareness
among attendees regarding waste management practices. Further, management
should conduct research to determine the taste and preference of people before
making arrangement for the food.

SWOT analysis tool.
 It is a tool that helps to identify internal strengths and weaknesses as well as
external opportunities and threats.
Strengths-
 One of the major strength of Firebirds Ltd. is that it is having skilled and
experienced workforce because they have skills to operate advance tools and
techniques that helps to increase the success of the event.
 It is having strong research and development team that helps to analyse the
changing behaviour and consumer behaviour. This helps to organize wedding
event in effective way.
Weaknesses-
 One of the major weakness is that it does not have effective event management
system. Due to this Firebirds Ltd. is facing problems in organizing and executing
events like wedding event at the global level.

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Opportunities-
 Firebirds Ltd. is having an opportunity to adopt advanced tools and technology for
planning and organizing wedding event. It should implement event management
software such as Zoho Backstage etc.
Threats-
 Firebirds Ltd. is facing high level of competition from other companies that are
working in global event's industry. Such as Bank Sadler, Clearwater events etc.

Evaluate the criteria essential for successful planning
of events.
Feasibility analysis:
 For successful planning of the event, companies should perform feasibility
analysis. While considering the feasibility of the event, Firebirds Ltd. Will
consider various factors like whether the proposed venue is having sufficient
facilities and capacity or not. It will also consider the support required for
conducting event etc.
Strategic planning-
 Event companies are required to perform planning for developing the strategy with
respect to proper management of the event. It helps to provide scope and direction
to the event.

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Bidding procedure and campaign-
 The process of supplying a proposal is known as bid process. The major purpose is
to demonstrate that bidding company is having resources and capability to stage
the event. Event organizing company will monitor every stage of event life cycle
that will provide guidelines for campaign the event in effective way.

Role of stakeholders-
Government-
 They play an important role by providing permission for conducting the event.
They also help to promote health and safety of consumers.
Media-
 Media helps to promote and spread the information of different events in all over
the world quickly.

Approaches to effective planning-
 For promoting safety of people that are attending the event, companies should
perform health and safety risk assessment, consider food safety and should provide
proper training to staff members.
 Events management companies have to face various issues like focussing on
audience management, tight budgets, impact of Brexit, focussing on security and
safety of people etc.

Conclusion
 From the above presentation it has been concluded that global events industry
affects macro environment in both positive and negative ways.
 Such as sustainable development, offering job opportunities etc. Firebirds Ltd.
should adopt innovative tools and technology like event management software etc.

REFERENCES
Colombo, A., 2016. How to evaluate cultural impacts of events? A model and methodology proposal. Scandinavian Journal of Hospitality and
Tourism. 16(4). pp.500-511.
Horne, J., 2017. Sports mega-events. Sport, Media and Mega-Events. p.19.
Kassens-Noor, E., and et.al, 2015. Towards a mega-event legacy framework. Leisure Studies. 34(6). pp.665-671.
Yuan, X.C., and et.al, 2017. Risk management of extreme events under climate change. Journal of cleaner production. 166. pp.1169-1174.

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