Impact of Macro Environment on Global Event Industry: A Report

This report provides a comprehensive analysis of the global event industry, focusing on the impact of the macro environment. It begins with an introduction to global events, followed by an examination of the positive and negative effects of the macro environment, including social/cultural, physical/environmental, and tourism aspects. The report then delves into how the macro environment influences decision-making and organizational behavior within the industry. A SWOT analysis is presented, using the FIFA World Cup as a case study, highlighting strengths, weaknesses, opportunities, and threats. The report concludes by outlining the essential criteria for successful event planning, such as developing a vision, organizing a team, deciding on a budget, establishing a launch date, and creating a master plan. The report references various academic sources to support its findings.

Global Events
(TASK B)

TABLE OF CONTENT
 Introduction
 Positive/negative effects macro environment has on global
event industry
 Influence on decision making & organizational
behavior
 SWOT analysis for a specific event
 Criteria needed for successful planning of events
 Conclusion
 References

INTRODUCTION
Globally, events are organized and conducted for different purpose
and goals. Events are defined as gathering of something that
occurred at scheduled time & place. With changing period of time,
happening & event industry has changed at wider scale (Ham,
2018). Main purpose of this report is to understand the how global
events affects the sectors at different regions. So, this report focuses
on London Exhibition Center, which is convention center
headquartered in East London.

Positive/negative effects macro environment has on global
event industry
Social/ cultural-
In this, events affects the culture and society because at global
events like Chinese New Year Celebration does affects the culture of
many people because not every one in U.K or people of other
country take participate in this event (Durcan, 2019).
Positive-
This external factor of social/ cultural has positive effect because
this event established positive relationship with each other.
Negative effect
External factor has negative impact on this global event because
they are violates the values of individual who do not take

Physical and environment
This external element too affects global events because of operating
physically & creating problems for many people.
 Positive effects
For example- Olympic 2012 was organised at global aspects and it
affected global event industry because competition level for
country to country was increasing which enhances their working
efficiency (Woźniak, 2018).
 Negative effects-
So, this mega event impacted the financial resources of country
which impacted negatively on economy.

Tourism
It is also another macro environment in which global event industry
does get affected because most of events are successful because of
visits of tourists.
 Positive aspects
Macro environment enhances the tourists & attractions eyesights
due to which global event industry are able to widen their
functions.
 Negative
It does affects the global event industry as without tourism sector
it is not possible for events planners to gather up people for
event.

Influence on decision making & organizational
behavior
Macro environment also does affects the decision making of events
industry because factors like market, political factors, economical
elements makes it difficult for them to make decisions in positive
manner like adaption of strategies etc. It negatively impacts their
working flow structure. Further, too has effect on organisational
behaviour of global event industry because macro environment
affects the behaviour of management in negative way which directly
leads to change of attitude in between workforce (Rocha, 2019). It is
stated that it is crucial to be aware about such influence on decision
making as well as organizational behavior so that goals are
accomplished appropriately.
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SWOT analysis for a specific event
SWOT Analysis- It is a tool which is used by enterprise to identify
and access inner capabilities. It is time consuming process because
it requires deep level of information for which market analysis is
needed to be done. In relevance with event industry, mega events
are being taken in which SWOT is conducted for Fifa World Cup.
 Strength
Main strength of this mega event- Fifa World Cup is that it boost
and enhances the tourism sector level of country

To be continue..
 Weakness
As the event is organized at global aspects it is difficult to arrange
necessary resources for participants (Ham, 2018).
Opportunity
Such type of events enhances the financial earning of a country in
which they are operating.
 Threats
The biggest threat is that uncertainty of situations which can arise
due to any external factors mostly political & can affects whole
structure of events.

Criteria needed for successful planning of events
For successful planning of events, it is necessary to be aware about
criteria which are beneficial for events completion. This is because
it without them, decision making not possible. Therefore, such
criteria are explained as follow-
Develop vision/ goals- It is one of most crucial criteria which is
necessary for success of event because without analysis of vision or
goals it not possible to organize an event properly (Wiener, 2019).

To be continue.
 Organizing of team- It is another important step which is
required to be focused because team helps in coordination,
cooperation, communication. With help of team development, it
is easy to maintain work.
 Decide budget- Then, it is also important to decide a budget
for a event so that resources, workforce and other related
activities are being processed effectively. Budget helps in
arranging & using of financial resources efficiently.
 Launch date- It is also essential for successful planning
because when event planning is being at processed at stage then
launch date of same is too necessary. Because, launch date helps
in proper managing work with time period.

To be continue..
 Master plan- AT last, master plan is needed for successful
planing so that if any problem occur or changes are to be made
at last stage then master plan is adapted as backup. It is
important to prepare master plan so that safety is measured for
events (Olk, 2020). Therefore, stated matter specifies that
SWOT analysis help in accessing how a specific event is useful
or not useful. Also, improvement area for an event is too
determined by using this framework. Further, essential criteria
are being described which are used for successful planning of an
event.