Impact of Macro-Environment & SWOT Analysis on the Global Events

This report examines the significance of global events for national economic development, focusing on the macro-environmental factors influencing the global event industry. It employs PEST analysis to assess political, economic, social, technological, legal, and environmental factors impacting events like the London Music Festival. The report further includes a SWOT analysis, evaluating the strengths, weaknesses, opportunities, and threats associated with organizing such events, highlighting security systems as a strength and space management as a potential weakness. The conclusion emphasizes the importance of proper organization to mitigate negative impacts and maximize the benefits of global events. Desklib provides a platform to access this and similar solved assignments for students.

Global events

Table of Content
 INTRODUCTION
 PART B
 MAIN BODY
 TASK 3
 P5. Positive and Negative impacts of macro-environment on global event industry
 TASK 4
 P6. SWOT Analysis
 CONCLUSION
 REFERENCES

Introduction
The primary objective of a nation behind organising a global event is to capture
the market share throughout the world along with fostering the tourism. There are
different global events such as The Royal Wedding, Olympic Games, Fashion week,
Music Festivals and many more.

Positive and Negative impacts of macro-
environment on global event industry
PEST Analysis: It is considered as major type of macro analysis or external analysis
which is used to focus on major factors that impact on business or event. It is important for the
London Music Festival to perform PEST analysis in order to conduct a successful event. The
major factors related to PEST analysis of London Music Festival are mentioned below:
Political factors: The political factors are related to rules and regulations developed by
government in order to control different types of events. In London Music festival, government
has issued several guidelines related to security of the event and development of ethical
practices.

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Economic factors: Economic factors are related to different factors related to
inflation, deflation and recession which are important to be considered by event
management. In the recent times, it is major role of an event to analyse all economic
factors for deciding prices of tickets.

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Social factors: The social factors in an event are related to culture and
traditions of the society in order to achieve different goals and objectives. Social factors
include taking care of need of society and audience in order to perform set of operations
related to event development.

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Technological factors: In the recent times, the information and technology is
growing day by day. In the organisation of an event, it is essential for event manager to
focus on technological factors in order to perform all operations in a quick and accurate
manner. The London music festival should also use customer relationship management
software in order to maintain healthy relationship between the target audience.

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Legal factors: Within United Kingdom, laws have been changed in the country
after the Brexit situation that means both the events of Music Festival and Business
conference should adhere the legislations as well as laws that are set by legislative
system of country.

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Environmental factors: UK has made crucial efforts in reducing the negative
impact because people are more concerned about the environment and its safety.
Organisers of Music Festival should consider this and foster recyclable or sustainable
fashion during event.

SWOT Analysis
SWOT Analysis is a framework that helps in analysing the internal strengths as well as
weaknesses of an organisation along with the external opportunities and threats that are present
outside the organisation.

CONTINUE
SWOT Analysis of London Music Festival is explained as below:
 Strengths: The strengths of a business plays a significant role in the growth as well as
development of the business within a particular period of time. It is the primary duty of an
organisation in order to identify its strengths by seeking advice of the professional strategic
management. Security system is a major strength for the Music Festival as during the event these
types of systems will deal in case of any mishappening.

CONTINUE
 Weaknesses: Weaknesses within a business creates loopholes as well as
challenges for the organisation in order to survive at the market place. Space
management might be the weakness for the respective music festival event
because it is having capacity of lot of people. So when a large number of people will
gather together then management of space might be improper.