Global Events Industry: Macro Environmental Factors and SWOT Analysis

This report provides an overview of the global events industry, focusing on the operations of London's ExCeL exhibition center and its success with the 2012 Olympic Games. It explores the diversification within the industry and the various types of events it encompasses. The report delves into the macro-environmental factors influencing the development of the event industry, including political, economic, tourism, physical, environmental, and legal considerations, along with safety and security aspects. A SWOT analysis is conducted specifically for Olympic game events, highlighting strengths such as stakeholder involvement and sponsorship, as well as opportunities like event tourism strategies. The analysis also addresses weaknesses, such as doping credibility, and threats, including terrorist attacks. The report concludes by emphasizing the importance of the global event industry for national growth and the application of PESTLE and SWOT models for effective business decision-making. References include books and journal articles related to environmental behaviors, geomorphology, and macro cultural psychology.

Global Events

Table of content
 Introduction
 Macro environmental factors:
 SWOT analysis for a Olympic game event
 Conclusion

INTRODUCTION
Global event industry develops and organise the large scale events including
formal parties, concerts, festivals, Olympics, World Cups. Global event
industry includes many type of events and their different sizes. This report is
in the context of London's ExCeL exhibition centre who organises events at
global level. In 2012, London's ExCeL exhibition centre conducted an
Olympic event in which they get success and sustainability in the market. This
report covers the diversification of the global event industry and their role in
different types of events in society. It explains the factors which influences the
development of event industry. In addition to this, it includes the internal and
external analysis on the global event industry.

Macro environmental factors:
Different types of macro environmental factors are listed below:
Political impact: It includes various factors such as trade agreements, taxation,
and environmental labour regulations.
Positive impact: The impact of government policies include various opportunities
for the public and decrease the possibility of threats.
Negative impacts: In any global event, influence of politicians are usually high
which create problem because they misuse their power and prestige in the event.

Tourism and Economic impact:
The impact of tourism and economic is focus on total budget, satisfaction level of
producers and consumers. There are various event which specifically deals with
destinations which provide surplus advantage in the market.
Positive impact: It shows that the economic and tourism impact enables the producer
of mega event to understand its dynamic structure before execution. Such as to
understand whether they are in surplus or in deficiency by totalling the amount of
sponsorships, public tickets and merchandise and tourism revenue.

Physical and environmental impact:
This factor includes natural forces which greatly affected global events and
businesses. It includes climate change, pollution, weather and laws which
regulated by environments. Suppose taking an example of Hallmark, stated
that it includes intrinsic properties to gain profit in the market but such
properties impact the environment in larger terms for example burning of a
paper polluted the environment.
Positive impact: 21st century has been quiet developed in terms of environmental
factors and even governmental are implementing various laws and policies so
that society will not suffer from any problem.
Negative impact:
if a global event has been affected by the environmental factors then resources
become more costlier and expensive.

The legal consideration
It includes all regulations and determinants which can affect the market decisions
of the global event.
Positive impact: legal factors gives a dynamic structure in organizing the event in
the society.
Negative impact: Due to certain laws, event has certain boundaries which need to
follow while implementing the plan.
Its influence on decision making: An example suggested that due to Covid-19
pandemic, government declares complete lock down in the country by which
no global event was taken place. Such types of legal law forced the global
event to make the decision of postpone the program.

Safety and Security:
It suggest that when a global event will be planned then there is a need of higher
level of safety and security because of risk management. It includes how the
crowd manage, employee working environment because a peaceful
environment helps the global event to succeed. Safety and security also
include facility of emergency, so that things will be remain safe.
Positive impacts: Things will be on safer terms including medical facility, wash
rooms availability.
Negative impact: It can be costlier because of extra requirement in global event.
Its influence on decision making: A global event always keeps an eye to reach at
higher level or succeed in mega event. To succeed in the event, there are
important safety measures which needs to be taken into the consideration.

P6 SWOT analysis for a Olympic game event
SWOT analysis is being conducted for the event of Olympic game.
Strengths of Olympic games event
 Role of stakeholders: Stakeholders are the great source of building the
mega event. Stakeholders helps to create awareness of the event, manage
conflicts and balancing the competing needs which create success.
 Sponsors: Generally in Olympic games events many businesses invest
large amount in the event in order to increase their sales and achieve goals.
 The media: It has been suggested that due to expansion of media products,
event has been organised in larger global networkings.

Olympic games opportunities
 Development of an event tourism strategy: It has been suggested that there
are several possibilities which can be identified in terms of achieve goals in
future. They are of two types
 Existing event development: It has a capacity to develop major attractions on
that particular area which helps to increase more public involvement.
 Event bidding: Many events are held from one place to another and they
include different visitors of high level which has specifically established for
the purpose of attracting new mega events.
 Higher anti-doping standards: to restore the confidence of fans

Olympic games threats
 Approaches to effective planning: Every Olympic event is based on
strategy however once an event strategy has been selected then the next step
is to implement it. When the selected strategy has been implementing then
there will be a possibility of risk management and undertaking actions in the
market.
 Terrorist attacks: In Olympic games event, there is a possibility of
terrorist attacks in future.

Olympic games weaknesses
On the credibility of event, various events of doping has been put on
question mark.
Politicians are the major reasons in boycotting countries.
From the above conclusion, it has been suggested that Olympic games needs
to take vigorous actions to maintain its strength in future and keep a check on
its weaknesses to achieve goals in next year.

CONCLUSION
The above discussion concludes that, one of the growing industry in the society is global
event industry which helps the nation in increasing the growth and achieve success in a
proper manners. Global event industry has a diversified structure in terms of size, forms
and factors. Furthermore, PESTLE and SWOT has been used in the discussion because
the models are helpful in analysing the environmental factors that impact the global
event organisation. The models helps in analysing both internal and external factor in
order to attain them or achieve higher competitive edge. In addition to this, various
techniques and strategies are also discussed in this discussion to develop the effective
business decisions and achieve desirable results in shorter duration.

REFERENCES
Books & Journal:
Hadler, M. and Wohlkonig, P., 2012. Environmental Behaviours in the Czech
Republic, Austria and Germany between 1993 and 2010: Macro-Level
Trends and Individual-Level Determinants Compar. Czech Sociological
Review, 48(3), pp.467-493.
Larsen and et. al., 2020, May. Towards a better understanding of past biotic
drivers of river and floodplain geomorphology. In EGU General Assembly
Conference Abstracts (p. 11338).
Ratner, C., 2011. Macro cultural psychology: A political philosophy of mind.
Oxford University Press.